SEC filings · customer concentration · TLS

Telos's major customers

U.S. Government accounted for 91% of Telos's revenue in FY 2025, about the same as 88% a year earlier.

2major customers now
100%of revenue from them
0listed suppliers depending on it
2019–2026years covered
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Major customers of Telos

Customers that Telos named in its annual report as 10% or more of revenue. A missing year means the customer was below that line or not named.

CustomerShare of revenueChange vs prior yearHistoryLatest filing
U.S. Government91%from 88%FY 2019: 94%FY 2020: 95%FY 2021: 96%FY 2022: 95%FY 2023: 90%FY 2024: 88%FY 2025: 91%7 yearsFY 2025 · filed 16 Mar 2026
State Local And Commercial9%from 12%FY 2020: 5%FY 2021: 4%FY 2022: 5%FY 2023: 10%FY 2024: 12%FY 2025: 9%6 yearsFY 2025 · filed 16 Mar 2026

Formerly disclosed

CustomerShare of revenueChange vs prior yearHistoryLatest filing
U.S. Department of Defense24%last FY 2024FY 2019: 65%FY 2020: 65%FY 2021: 74%FY 2022: 74%FY 2023: 18%FY 2024: 24%6 yearsFY 2024 · filed 10 Mar 2025
Civilian21%last FY 2022FY 2019: 29%FY 2020: 30%FY 2021: 22%FY 2022: 21%4 yearsFY 2022 · filed 16 Mar 2023
U.S.Department Of Homeland Security15%last FY 2024FY 2024: 15%1 yearFY 2024 · filed 10 Mar 2025

About this data

US-listed companies must disclose revenue from any single customer that reaches 10% of their total (ASC 280). ShadowGraph reads these disclosures from the XBRL data of every 10-K and 20-F we scan, keeps one value per fiscal year (restatements replace earlier values) and links each number to its filing. Companies that describe a customer only as "Customer A" are not listed by name. Figures are as reported; nothing here is investment advice.

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