Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
Our common stock is traded on the Nasdaq Global Market under the symbol “TLS”. As of December 31, 2020, there were
approximately 231 registered shareholders of record, not including the number of persons or entities whose stock is held in nominee or "street" name through various brokerage firms. There was no public market for our common stock prior to November
19, 2020.
Performance Graph
This performance graph shall not be deemed “soliciting material” or to be “filed”
with the Securities Exchange Commission (“SEC”) for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by
reference into any of our filings under the Securities Act or the Exchange Act.
The following graph compares the cumulative total return to stockholders on our common stock since
November 19, 2020 (the date our common stock commenced trading on the NASDAQ National Market) relative to the cumulative total returns of the Standard & Poor’s 500 Index and the Standard & Poor’s Information Technology Index over the same
period. An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our common stock and in each index at the market close on November 19, 2020, and its relative performance is tracked through December 31, 2020. The
returns shown are based on historical results and are not intended to suggest future performance.
26
Table of Contents
Item 6. Selected Financial Data
The following should be read in connection with the accompanying information presented in Item 7 and Item 8 of this Form
10-K.
OPERATING RESULTS
Years Ended December 31,
2020
2019
2018
2017
2016
(amounts in thousands)
Sales
$
179,917
$
159,218
$
138,016
$
107,727
$
134,868
Operating income (loss)
297
5,025
9,014
414
2,112
Income (loss) income before income taxes
6,795
(2,241
)
1,768
(6,265
)
(3,335
)
Net income (loss) attributable to Telos Corporation
1,687
(6,401
)
(1,640
)
(5,833
)
(7,175
)
FINANCIAL CONDITION
As of December 31,
2020
2019
2018
2017
2016
(amounts in thousands)
Total assets
$
183,817
$
77,692
$
74,489
$
74,421
$
56,799
Senior term loan (1)
----
16,335
10,984
10,786
----
Subordinated debt, long-term (1)
----
2,927
2,597
2,289
----
Finance lease obligations, long-term (2)
14,301
15,641
16,865
17,980
18,990
Operating lease obligations, long-term (2)
941
1,553
----
----
----
Deferred income taxes, long-term (3)
652
621
818
741
3,391
Senior redeemable preferred stock (4)
----
----
----
----
2,092
Public preferred stock (4)
----
139,210
135,387
131,565
127,742
(1)
See Note 6 to the Consolidated Financial Statements in Item 8 regarding our debt obligations.
(2)
See Note 10 to the Consolidated Financial Statements in Item 8 regarding our lease obligations.
(3)
See Note 9 to the Consolidated Financial Statements in Item 8 regarding our income taxes.
(4)
See Note 7 to the Consolidated Financial Statements in Item 8 regarding our redeemable preferred stock.
27
Table of Contents