Telos Gains on Navy Contract

Telos Corporation (NASDAQ: TLS) watched its shares reach into the green Wednesday, as the leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations today announced its on-ramp as a prime contractor to the U.S. Navy – SeaPort Next Generation (SeaPort NxG) multiple award, indefinite-delivery/indefinite-quantity (IDIQ) contract.SeaPort NxG serves the Navy Virtual SYSCOM Commanders, including NAVAIR, NAVFAC, NAVSEA, NAVSUP, NAVWAR and ONR, as well as the Military Sealift Command (MSC) and the United States Marine Corps (USMC). SeaPort NxG is the U.S. Navy’s integrated and mandatory approach to contracting for professional support services (PSS). As a prime contractor, Telos will be eligible to bid on task orders until 2028, at which time the Navy will perform a re-compete for a nine-year period of performance.“Telos is pleased to be a part of SeaPort NxG, which strengthens our relationship with the U.S. Navy,” said John B. Wood, CEO and chairman, Telos. “We look forward to providing the Navy with network engineering and operational support, program management, logistics, and training to support cyber risk assessment.”In addition to SeaPort NxG, since 2023, Telos has won positions on the following federal government blanket purchase agreement (BPA) and IDIQ contract vehicles, which, when combined with SeaPort NxG, provide market access to compete for new business opportunities that, in the aggregate, represent approximately a $35 billion addressable market. TLS shares captured nine cents, or 2.9%, to $3.34.