$TLS
TELOS CORP

2023 Q4 Form 10-Q Financial Statement

#000032012123000054 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $41.06M $36.19M
YoY Change -13.27% -43.1%
Cost Of Revenue $26.97M $23.17M
YoY Change -7.14% -45.66%
Gross Profit $14.09M $13.01M
YoY Change -23.01% -37.87%
Gross Profit Margin 34.31% 35.96%
Selling, General & Admin $18.54M $22.71M
YoY Change -43.75% -20.65%
% of Gross Profit 131.62% 174.49%
Research & Development $2.634M $3.154M
YoY Change -12.72% -20.77%
% of Gross Profit 18.7% 24.24%
Depreciation & Amortization $3.093M $3.220M
YoY Change 111.41% 436.67%
% of Gross Profit 21.95% 24.74%
Operating Expenses $22.07M $25.86M
YoY Change -38.65% -20.66%
Operating Profit -$7.985M -$9.693M
YoY Change -45.54% 26.39%
Interest Expense -$175.0K $178.0K
YoY Change -155.38% -1.66%
% of Operating Profit
Other Income/Expense, Net $1.348M $1.222M
YoY Change 92.02% 135.91%
Pretax Income -$7.012M -$8.649M
YoY Change -50.89% 17.96%
Income Tax -$32.00K $23.00K
% Of Pretax Income
Net Earnings -$6.980M -$8.672M
YoY Change -50.84% 18.15%
Net Earnings / Revenue -17.0% -23.97%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$0.10 -$0.12
COMMON SHARES
Basic Shares Outstanding 69.62M shares 69.58M shares
Diluted Shares Outstanding 69.57M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $99.26M $100.0M
YoY Change -16.8% -20.21%
Cash & Equivalents $99.26M $99.95M
Short-Term Investments
Other Short-Term Assets $8.887M $1.750M
YoY Change 895.18% 88.17%
Inventory $1.420M $984.0K
Prepaid Expenses $7.520M $8.102M
Receivables $30.42M $25.42M
Other Receivables $0.00 $0.00
Total Short-Term Assets $140.0M $136.2M
YoY Change -16.65% -27.54%
LONG-TERM ASSETS
Property, Plant & Equipment $10.29M $3.390M
YoY Change 114.85% -33.89%
Goodwill $17.90M $17.90M
YoY Change 0.0% 0.0%
Intangibles $39.62M $38.98M
YoY Change 5.88% 45.15%
Long-Term Investments
YoY Change
Other Assets $885.0K $1.038M
YoY Change -22.16% 14.32%
Total Long-Term Assets $68.71M $68.53M
YoY Change -1.05% 15.34%
TOTAL ASSETS
Total Short-Term Assets $140.0M $136.2M
Total Long-Term Assets $68.71M $68.53M
Total Assets $208.7M $204.7M
YoY Change -12.09% -17.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.307M $2.761M
YoY Change -34.1% -83.1%
Accrued Expenses $21.94M $4.696M
YoY Change 120.57% -76.37%
Deferred Revenue $6.728M $5.775M
YoY Change 4.41% -16.93%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.730M $1.700M
YoY Change -39.06% 9.11%
Total Short-Term Liabilities $39.20M $29.58M
YoY Change -13.85% -48.47%
LONG-TERM LIABILITIES
Long-Term Debt $9.518M $10.00M
YoY Change -48.44% -14.24%
Other Long-Term Liabilities $167.0K $309.0K
YoY Change -43.77% -29.13%
Total Long-Term Liabilities $9.685M $309.0K
YoY Change 3160.94% -29.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.20M $29.58M
Total Long-Term Liabilities $9.685M $309.0K
Total Liabilities $49.70M $40.72M
YoY Change -23.6% -42.14%
SHAREHOLDERS EQUITY
Retained Earnings -$274.8M -$267.8M
YoY Change 14.32% 20.88%
Common Stock $433.9M $431.9M
YoY Change 5.11% 8.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $159.0M $164.0M
YoY Change
Total Liabilities & Shareholders Equity $208.7M $204.7M
YoY Change -12.09% -17.24%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$6.980M -$8.672M
YoY Change -50.84% 18.15%
Depreciation, Depletion And Amortization $3.093M $3.220M
YoY Change 111.41% 436.67%
Cash From Operating Activities $4.954M $840.0K
YoY Change -237.23% -92.99%
INVESTING ACTIVITIES
Capital Expenditures $3.168M $3.840M
YoY Change -26.7% -206.08%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.168M -$3.840M
YoY Change -26.7% 6.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.478M -490.0K
YoY Change -230.01% -91.28%
NET CHANGE
Cash From Operating Activities 4.954M 840.0K
Cash From Investing Activities -3.168M -3.840M
Cash From Financing Activities -2.478M -490.0K
Net Change In Cash -692.0K -3.490M
YoY Change -88.52% -227.19%
FREE CASH FLOW
Cash From Operating Activities $4.954M $840.0K
Capital Expenditures $3.168M $3.840M
Free Cash Flow $1.786M -$3.000M
YoY Change -122.52% -119.22%

Facts In Submission

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us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Comparison - Revision of Previously Issued Interim Financial Statements</span></div><div style="margin-bottom:9pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior-period amounts have been reclassified to conform to the current period presentation. In the current period, the Company reclassified and presented depreciation and amortization separately from the cost of sales line items. The reclassification had no impact on the statement of operations.</span></div>During the course of preparing the Company's consolidated financial statements for the year ended December 31, 2022, we identified that stock-based compensation expense related to performance-based restricted stock unit (“PSU”) awards with market conditions was erroneously reversed when those PSUs were forfeited during the three and nine months ended September 30, 2022. Although the Company has determined that the error did not have a material impact on its previously issued interim consolidated financial statements, it revised the previously reported interim financial information in conjunction with the issuance of its quarterly filings on Form 10-Q for the quarter ended September 30, 2023.
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Preparing unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and disclosure of contingent assets and liabilities. The Company regularly assesses these estimates; however, actual results could differ from those estimates. We base our estimates on historical experience, currently available information, and various other assumptions that we believe are reasonable under the circumstances.</span></div><div style="margin-bottom:9pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management evaluates these estimates and assumptions on an ongoing basis, including those relating to revenue recognition on cost estimation on certain contracts, allowance for credit losses, inventory obsolescence, valuation allowance for deferred tax assets, income taxes, certain assumptions related to stock-based compensation, valuation of intangible assets and goodwill, restructuring expenses accruals, and contingencies. Actual results could differ from those estimates. The impact of changes in estimates is recorded in the period in which they become known.</span></div>
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
2763000 usd
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
1197000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
3281000 usd
CY2023Q3 us-gaap Restructuring Reserve
RestructuringReserve
679000 usd
CY2023Q3 tls Bill Contracts Receivable Net Of Allowance
BillContractsReceivableNetOfAllowance
12355000 usd
CY2022Q4 tls Bill Contracts Receivable Net Of Allowance
BillContractsReceivableNetOfAllowance
13521000 usd
CY2023Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
7211000 usd
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
11657000 usd
CY2023Q3 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
5858000 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
14891000 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5775000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6444000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5300000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
900000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5000000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
79000000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.84
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q3 us-gaap Billed Contract Receivables
BilledContractReceivables
12614000 usd
CY2022Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
13655000 usd
CY2023Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
7211000 usd
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
11657000 usd
CY2023Q3 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
5858000 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
14891000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
259000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
134000 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
25424000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
40069000 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
1749000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
3642000 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
765000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
765000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
984000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2877000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18870000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19178000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15480000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14391000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3390000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4787000 usd
CY2023Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
548000 usd
CY2022Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
619000 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
1700000 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
1776000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
17900000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
17900000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
50399000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11415000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38984000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
38750000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8455000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30295000 usd
CY2023Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
50399000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11415000 usd
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
38984000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
45870000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8455000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
37415000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
600000 usd
CY2023Q3 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
1767000 usd
CY2022Q3 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
0 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
1767000 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
0 usd
CY2023Q3 tls Intangible Assets Amortization Expense
IntangibleAssetsAmortizationExpense
1865000 usd
CY2022Q3 tls Intangible Assets Amortization Expense
IntangibleAssetsAmortizationExpense
471000 usd
tls Intangible Assets Amortization Expense
IntangibleAssetsAmortizationExpense
2960000 usd
tls Intangible Assets Amortization Expense
IntangibleAssetsAmortizationExpense
1318000 usd
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
2761000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
12606000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4696000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9945000 usd
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
7457000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
22551000 usd
CY2023Q3 tls Other Accrued Expenses Current
OtherAccruedExpensesCurrent
736000 usd
CY2022Q4 tls Other Accrued Expenses Current
OtherAccruedExpensesCurrent
1530000 usd
CY2023Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
679000 usd
CY2022Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
2763000 usd
CY2023Q3 tls Other Current Liabilities Other
OtherCurrentLiabilitiesOther
424000 usd
CY2022Q4 tls Other Current Liabilities Other
OtherCurrentLiabilitiesOther
626000 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1839000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4919000 usd
CY2022Q4 tls Debt Instrument Covenant Senior Leverage Ratio Maximum
DebtInstrumentCovenantSeniorLeverageRatioMaximum
3
CY2023Q2 tls Receivables Excluded From Collateral
ReceivablesExcludedFromCollateral
25000000 usd
CY2023Q3 us-gaap Other Income
OtherIncome
0 usd
us-gaap Other Income
OtherIncome
1400000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5218000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15836000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22462000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
48843000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3906867 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
19.53
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1743689 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
1807929 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
25.96
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
467871 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
14.39
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3374756 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
8.34
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
8100000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.06
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.035
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.307
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.351
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P0Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
400000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.80
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
400000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.80
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y7M6D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
236000000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
0 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P0Y
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
300000 usd
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
38700000 usd
CY2023Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 usd
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4681000 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7683000 usd
CY2023Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2022Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
498731 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
859170 shares
CY2023Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
CY2022Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
9.38
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.94
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
667000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
833000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
522000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
435000 shares
tls Incremental Common Shares Excluded From The Dilutive Effect
IncrementalCommonSharesExcludedFromTheDilutiveEffect
265608 shares
CY2023Q3 tls Incremental Common Shares Excluded From The Dilutive Effect
IncrementalCommonSharesExcludedFromTheDilutiveEffect
265608 shares
CY2022Q3 tls Incremental Common Shares Excluded From The Dilutive Effect
IncrementalCommonSharesExcludedFromTheDilutiveEffect
336785 shares
tls Incremental Common Shares Excluded From The Dilutive Effect
IncrementalCommonSharesExcludedFromTheDilutiveEffect
336785 shares
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36186000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
63593000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104319000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
169544000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
13013000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
20945000 usd
us-gaap Gross Profit
GrossProfit
38854000 usd
us-gaap Gross Profit
GrossProfit
60745000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
70984000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
99932000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-32130000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-39187000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5367000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
648000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
178000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
181000 usd
us-gaap Interest Expense
InterestExpense
611000 usd
us-gaap Interest Expense
InterestExpense
558000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27374000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-39097000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
68000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
133000 usd
us-gaap Net Income Loss
NetIncomeLoss
-27442000 usd
us-gaap Net Income Loss
NetIncomeLoss
-39230000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99953000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
119305000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
135000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
133000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100088000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
119438000 usd
us-gaap Interest Paid Net
InterestPaidNet
548000 usd
us-gaap Interest Paid Net
InterestPaidNet
523000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
147000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
188000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
67000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
396000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
173000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
400000 usd
tls Issuance Of Common Stock For401 K Match
IssuanceOfCommonStockFor401KMatch
1943000 usd
tls Issuance Of Common Stock For401 K Match
IssuanceOfCommonStockFor401KMatch
0 usd
tls Intangible Assets Transferred To Extinguish Other Financing Obligations
IntangibleAssetsTransferredToExtinguishOtherFinancingObligations
7089000 usd
tls Intangible Assets Transferred To Extinguish Other Financing Obligations
IntangibleAssetsTransferredToExtinguishOtherFinancingObligations
0 usd
tls Noncash Common Stock Repurchase Under Srp
NoncashCommonStockRepurchaseUnderSRP
0 usd
tls Noncash Common Stock Repurchase Under Srp
NoncashCommonStockRepurchaseUnderSRP
80000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22706000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
72997000 usd
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
29729000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
99932000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-8784000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-39187000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8447000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-39097000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-8455000 usd
us-gaap Net Income Loss
NetIncomeLoss
-39230000 usd
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.58
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.58
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-8455000 usd
us-gaap Net Income Loss
NetIncomeLoss
-39230000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-8476000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-39233000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
tls-20230930_cal.xml Edgar Link unprocessable
tls-20230930_def.xml Edgar Link unprocessable
0000320121-23-000054-index-headers.html Edgar Link pending
0000320121-23-000054-index.html Edgar Link pending
0000320121-23-000054.txt Edgar Link pending
0000320121-23-000054-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
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tls-20230930.htm Edgar Link pending
tls-20230930.xsd Edgar Link pending
tls-20230930xexhibit311q323.htm Edgar Link pending
tls-20230930xexhibit312q323.htm Edgar Link pending
tls-20230930xexhibit32q323.htm Edgar Link pending
tls-20230930_g1.jpg Edgar Link pending
tls-20230930_lab.xml Edgar Link unprocessable
tls-20230930_pre.xml Edgar Link unprocessable
tls-20230930_htm.xml Edgar Link completed