Why Are Telos Shares Trading Lower Today - Telos (NASDAQ:TLS)

Telos Corp TLS reported fourth-quarter FY21 revenue growth of 43% year-on-year to $64.1 million.
Security Solutions grew by 37% Y/Y, and Secure Networks rose by 49% Y/Y.
The gross margin expanded 196 bps to 37.7%. Adjusted EPS was $0.11 versus $(0.08) last year.
Telos used $2.4 million in operating cash flow in the quarter and held $126.6 million in cash and equivalents.
Chair and CEO John B. Wood said, "During the year, we focused on investments to position the company for continued growth, investing internally in our sales and marketing efforts, and we acquired Diamond Fortress Technologies, adding contactless biometrics technology to help Telos serve the needs of organizations in existing and new markets."
Outlook: Telos sees Q1 FY22 revenue of $44 million - $48 million, representing (21%) - (13%) decline Y/Y.
Telos sees FY22 revenue of $226 million - $257 million, representing (7%) - 6% change Y/Y.
Price Action: TLS shares traded lower by 16.5% at $8.60 on the last check Wednesday.