What move does the options market price into Telos's report?

Implied ±18.3%, either direction.

How often does Telos move more than the options market prices?

2 of the last 8 reports moved at least as far as the implied move.

TLSNasdaqServices-Computer Integrated Systems Design

Telos Corp (TLS) earnings date, market-implied expected move, and options open interest by expiry

5.10

−0.11 · −2.11%

Regular session14:25 ET

Open5.29Volume993,828Mkt cap$389.4MEPS-0.21

Day4.99 – 5.2936%52-wk3.79 – 8.3629%

TLS

Telos Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±18.3%implied · report alone

8Q avg ±17.5%·×1.04·fair

4.266.16

straddle ±20.4%

spot 5.21exp Nov 20ATM strike 5ATM straddle 1.25IV 139%

Nov 2 closereport share · term structure

Expected move

Inputs

Next report

Nov 9

before open · in 6 days

est.Q3 FY26

Calendar

Next report

Last report

−15.69%

vs ±17.4% implied · ×0.90

shaded = implied · ▲▼ = realized

Aug 10 '26 · confirmed

Implied vs realized

Largest filed tie

58.10%

of TLS revenue · DoW

customerTLS 10-K

Largest filed tie

13F top-10 QoQ

+3.09%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

160 managers

Top fund weight

0.01%

TLS weight · IWM

N-PORTJun 30 '26

3 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Telos (TLS) is expected to report on Nov 9 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±18.7%
avg realized: ±17.5%

Mar 10 '25Mar 10 '25confirmed±19.4%▼−9.23%×0.48

May 9 '25May 9 '25confirmed±14.6%▼−20.00%×1.37

Aug 11 '25Aug 11 '25confirmed±17.7%▲+62.61%×3.54

Q3 FY25Nov 10 '25confirmed±23.6%▲+21.63%×0.92

Q1 FY26Mar 16 '26confirmed±20.3%▼−3.74%×0.18

Apr 29 '26Apr 29 '26confirmed±17.4%▼−2.29%×0.13

May 11 '26May 11 '26confirmed±19.5%▼−5.13%×0.26

Q2 FY26Aug 10 '26confirmed±17.4%▼−15.69%×0.90

quarterimplied−65%0+65%realized×

Q2 FY26±17.4%▼−15.69%×0.90

May '26±19.5%▼−5.13%×0.26

Apr '26±17.4%▼−2.29%×0.13

Q1 FY26±20.3%▼−3.74%×0.18

Q3 FY25±23.6%▲+21.63%×0.92

Aug '25±17.7%▲+62.61%×3.54

2 older reports

May '25±14.6%▼−20.00%×1.37

Mar '25±19.4%▼−9.23%×0.48

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 2 expiries · Oct 23 close

0.02OI · 2 expiries · Oct 23 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

330%Nov 2017d1,369−2%

22−15%Feb 19108d0.021,0520%0.02

ExpiryPutsCallsP/C

Nov 2017d330%1,369−2%0.02

Feb 19108d22−15%1,0520%0.02

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±20.4%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

1.38%as filednet margin · revenue +0.01% QoQ · +32.74% YoY

Revenue

$48M+0.01% QoQ

Gross profit

$17M−3.93% QoQ

34.96% margin

Operating income

$310,000−78.69% QoQ

0.65% margin

Pre-tax income

$704,000−65.51% QoQ

Net income

$660,000−67.38% QoQ

1.38% margin

Cost of revenue

$31M+2.26% QoQ

Operating expenses

$16M+2.90% QoQ

SG&A $15M

R&D $1M

Tax

$44,000+144.44% QoQ

Other income

$394,000−32.76% QoQ

Revenue$48M+0.01%

Gross profit

$17M−3.93%

34.96% margin

Operating income

$310,000−78.69%

0.65% margin

Pre-tax income

$704,000−65.51%

Net income

$660,000−67.38%

1.38% margin

Cost of revenue

$31M+2.26%

Operating expenses

$16M+2.90%

SG&A $15M

R&D $1M

Other income$394,000−32.76%

Tax$44,000+144.44%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 2 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 14:15 ET

Intraday

Event sensitivity

CPI ×0.90· ±3.1% vs ±3.5% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.1%6 of 10×0.90

NFPjobs report±2.9%2 of 10×0.83

FOMCrate decision±2.8%11 of 24×0.81

PPIproducer prices±2.6%4 of 10×0.74

CPROFcorporate profits±2.2%7 of 12×0.65

GDPgross domestic product±2.1%9 of 19×0.60

PCEpersonal income & outlays±1.9%8 of 19×0.56

Bar = avg |move| to ±4% · tick = ±3.5% avg day · ×base = |move| ÷ ±3.5% · min 6 releases

Earnings history

EPS 0.01 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 10 '26 · confirmed	0.01	—
Q1 FY26	Mar 16 '26 · confirmed	0.03	—
Q3 FY25	Nov 10 '25 · confirmed	-0.03	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod