Demonstrações financeiras detalhadas de Telos Corporation (TLS): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Telos Corporation registou receitas de $164.8M no último exercício, com um CAGR de 5 anos de -1.7%.
Margens dos últimos 12 meses: margem bruta 36.8%, margem operacional -2.0%, margem líquida -8.1%.
Ao preço atual de $4.08, TLS apresenta lucros negativos (P/L não significativo) e um ROE de -15.53%. A capitalização de mercado é de $305M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $134.9M | $107.7M | $138.0M | $159.2M | $179.9M | $242.4M | $216.9M | $145.4M | $108.3M | $164.8M |
| Custo da Receita | $91.4M | $67.2M | $85.0M | $106.9M | $117.5M | $156.4M | $137.8M | $92.4M | $73.8M | $103.8M |
| Lucro Bruto | $43.4M | $40.6M | $53.1M | $52.3M | $62.4M | $86.0M | $79.0M | $52.9M | $34.4M | $61.0M |
| P&D | $2.6M | $3.2M | $3.5M | $10.6M | $14.2M | $19.1M | $16.9M | $12.2M | $8.4M | $7.1M |
| Despesas Gerais e Administrativas | $41.3M | $40.2M | $35.3M | $36.7M | $47.9M | $108.4M | $116.0M | $81.0M | $75.5M | $78.9M |
| Despesas Operacionais | $41.3M | $40.2M | $44.0M | $47.3M | $62.1M | $127.5M | $132.9M | $93.3M | $90.3M | $85.5M |
| Lucro Operacional | $2.1M | $414000 | $9.0M | $5.0M | $297000 | -$41.5M | -$53.9M | -$40.3M | -$55.9M | -$24.5M |
| EBITDA | $5.0M | $2.4M | $12.1M | $10.2M | $19.4M | -$36.8M | -$46.6M | -$24.2M | -$40.0M | -$25.2M |
| Despesas com Juros | $5.5M | $6.7M | $7.3M | $7.5M | $7.3M | $777000 | $874000 | $786000 | $644000 | $553000 |
| Lucro Antes de Impostos | -$3.3M | -$6.3M | $1.8M | -$2.2M | $6.8M | -$43.2M | -$53.4M | -$34.4M | -$52.5M | -$37.2M |
| Imposto | $334000 | -$2.8M | $31000 | -$104000 | -$46000 | -$28000 | $54000 | $36000 | $26000 | -$663000 |
| Lucro Líquido | -$7.2M | -$5.8M | -$1.6M | -$6.4M | $1.7M | -$43.1M | -$53.4M | -$34.4M | -$52.5M | -$36.5M |
| LPA | $-0.16 | $-0.11 | $-0.03 | $-0.03 | $0.03 | $-0.65 | $-0.79 | $-0.50 | $-0.73 | $-0.50 |
| LPA Diluído | $-0.16 | $-0.10 | $-0.03 | $-0.03 | $0.03 | $-0.65 | $-0.79 | $-0.50 | $-0.73 | $-0.50 |
| Ações em Circulação (Diluídas) | $44.3M | $57.2M | $49.2M | $64.7M | $64.6M | $66.4M | $67.6M | $69.3M | $71.8M | $72.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $51.4M | $46.8M | $47.7M | $47.7M |
| Lucro Bruto | $20.4M | $16.7M | $17.4M | $16.7M |
| Lucro Operacional | -$2.5M | -$3.1M | $1.5M | $310000 |
| EBITDA | $1.2M | -$13.5M | $5.6M | $4.2M |
| Lucro Líquido | -$2.1M | -$16.3M | $2.0M | $660000 |
| LPA | $-0.03 | $-0.22 | $0.03 | $0.01 |
| LPA Diluído | $-0.03 | $-0.22 | $0.03 | $0.01 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $659000 | $600000 | $72000 | $6.8M | $106.0M | $126.6M | $119.3M | $99.3M | $54.6M | $53.2M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $19.1M | $24.5M | $34.5M | $27.9M | $30.9M | $59.8M | $40.1M | $30.4M | $19.2M | $17.5M |
| Estoque | $3.6M | $13.5M | $4.4M | $2.0M | $3.3M | $1.2M | $2.9M | $1.4M | $1.8M | $996000 |
| Ativos Circulantes | $25.0M | $42.1M | $41.2M | $39.6M | $144.1M | $191.7M | $168.0M | $140.0M | $91.4M | $94.4M |
| Imobilizado | $16.1M | $16.3M | $17.4M | $21.5M | $23.9M | $16.0M | $13.0M | $10.3M | $10.3M | $7.9M |
| Ágio | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $17.9M | $17.9M | $17.9M | $17.9M | $3.0M |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | $19.2M | $37.4M | $39.6M | $30.4M | $30.3M |
| Ativos Totais | $56.8M | $74.4M | $74.5M | $84.6M | $188.5M | $246.1M | $237.4M | $208.7M | $158.2M | $139.9M |
| Contas a Pagar | $12.1M | $15.4M | $15.2M | $13.6M | $14.7M | $7.9M | $12.6M | $8.3M | $1.2M | $4.1M |
| Dívida de Curto Prazo | $3.0M | 0 | 0 | $1.9M | $2.0M | 0 | $1.2M | 0 | 0 | 0 |
| Passivos Circulantes | $33.6M | $46.2M | $39.1M | $37.3M | $38.9M | $50.9M | $45.5M | $39.2M | $22.1M | $36.8M |
| Dívida de Longo Prazo | $129.8M | $144.6M | $149.0M | $158.5M | 0 | 0 | $7.2M | 0 | 0 | 0 |
| Passivos Totais | $186.8M | $210.5M | $206.6M | $221.2M | $61.4M | $65.8M | $65.0M | $49.7M | $31.1M | $43.9M |
| Reservas | -$135.5M | -$141.4M | -$139.1M | -$145.5M | -$143.8M | -$187.0M | -$240.4M | -$274.8M | -$327.3M | -$363.9M |
| Patrimônio Líquido | -$132.2M | -$136.9M | -$134.7M | -$141.1M | $127.1M | $180.3M | $172.4M | $159.0M | $127.1M | $96.0M |
| Dívida Total | $22.9M | $32.1M | $31.6M | $177.6M | $17.3M | $15.3M | $21.7M | $11.5M | $10.1M | $8.1M |
| Dívida Líquida | $22.3M | $31.5M | $31.5M | $170.8M | -$88.8M | -$111.3M | -$97.6M | -$87.8M | -$44.4M | -$45.1M |
| Capital de Giro | -$8.6M | -$4.1M | $2.1M | $2.3M | $105.2M | $140.8M | $122.5M | $100.8M | $69.3M | $57.6M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $59.0M | $53.2M | $50.2M | $50.6M |
| Ativos Totais | $164.3M | $139.9M | $139.9M | $139.7M |
| Passivos Totais | $44.6M | $43.9M | $43.4M | $46.3M |
| Patrimônio Líquido | $119.7M | $96.0M | $96.5M | $93.4M |
| Dívida Total | $8.6M | $8.1M | $7.5M | $7.0M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$3.7M | -$3.5M | $1.7M | -$2.1M | $6.8M | -$43.1M | -$53.4M | -$34.4M | -$52.5M | -$36.5M |
| Depreciação e Amortização | $2.9M | $2.0M | $3.0M | $5.0M | $5.4M | $5.6M | $5.9M | $9.4M | $11.9M | $11.5M |
| Compensação em Ações | $3.3M | $50000 | $50000 | 0 | $4000 | $60.2M | $64.7M | $24.4M | $21.4M | $30.1M |
| Variação Capital de Giro | $10.3M | -$494000 | -$2.5M | $4.1M | -$5.1M | -$15.6M | -$800000 | $3.3M | -$18.6M | $11.2M |
| Fluxo de Caixa Operacional | $13.9M | -$591000 | $6.3M | $11.8M | -$2.1M | $7.3M | $16.5M | $1.6M | -$25.9M | $30.2M |
| CapEx | -$624000 | -$2.2M | -$4.1M | -$6.5M | -$7.5M | -$13.2M | -$13.7M | -$15.5M | -$2.3M | -$739000 |
| Aquisições | 0 | 0 | 0 | 0 | 0 | -$5.9M | 0 | 0 | 0 | 0 |
| Recompra de Ações | 0 | -$2.1M | 0 | 0 | 0 | -$1.3M | -$11.1M | -$139000 | 0 | -$13.6M |
| Dividendos Pagos | -$3.9M | -$3.8M | -$3.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $13.2M | -$2.8M | $2.2M | $5.3M | -$9.6M | -$5.9M | $2.8M | -$13.9M | -$28.2M | $29.4M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $9.1M | $8.0M | $8.7M | $8.8M |
| CapEx | -$2.5M | -$30000 | -$2.3M | -$246000 |
| Fluxo de Caixa Livre | $6.6M | $8.0M | $6.4M | $8.6M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $9.4M | $6.0M | $3.0M | $3.2M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | -20.1% | +28.1% | +15.4% | +13.0% | +34.7% | -10.5% | -33.0% | -25.5% | +52.2% |
| Crescimento Lucro Líquido (anual) | | +18.7% | +71.9% | -290.3% | +126.4% | -2656.8% | -23.9% | +35.6% | -52.6% | +30.4% |
| Crescimento LPA (anual) | | +31.2% | +69.7% | +0.9% | +179.1% | -2590.4% | -21.5% | +36.7% | -46.0% | +31.5% |
| Variação de Ações (anual) | | +29.2% | -14.0% | +31.5% | -0.1% | +2.7% | +1.8% | +2.5% | +3.7% | +1.4% |
| Crescimento FCF (anual) | | -121.3% | +176.4% | +145.3% | -281.0% | +38.2% | +147.2% | -597.7% | -102.9% | +204.4% |
| Margem Bruta | 32.2% | 37.7% | 38.4% | 32.9% | 34.7% | 35.5% | 36.4% | 36.4% | 31.8% | 37.0% |
| Margem Operacional | 1.6% | 0.4% | 6.5% | 3.2% | 0.2% | -17.1% | -24.8% | -27.7% | -51.6% | -14.8% |
| Margem EBITDA | 3.7% | 2.3% | 8.7% | 6.4% | 10.8% | -15.2% | -21.5% | -16.6% | -36.9% | -15.3% |
| Margem Líquida | -5.3% | -5.4% | -1.2% | -4.0% | 0.9% | -17.8% | -24.6% | -23.7% | -48.5% | -22.2% |
| Margem FCF | 9.8% | -2.6% | 1.6% | 3.3% | -5.3% | -2.4% | 1.3% | -9.6% | -26.0% | 17.9% |
| Taxa Efetiva de Imposto | -10.0% | 44.2% | 1.8% | 4.6% | -0.7% | 0.1% | -0.1% | -0.1% | -0.0% | 1.8% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.30 | $-0.05 | $0.04 | $0.08 | $-0.15 | $-0.09 | $0.04 | $-0.20 | $-0.39 | $0.40 |
| Dividendo por Ação | $0.09 | $0.07 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $44.3M | $55.4M | $49.2M | $64.7M | $64.6M | $66.4M | $67.6M | $69.3M | $71.8M | $72.9M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | -15.53% |
| Retorno sobre capital investido | -3.60% |
| Retorno sobre ativos | -11.26% |
| Margem bruta | 36.78% |
| Margem operacional | -1.96% |
| Margem líquida | -8.13% |
Saúde financeira
| Dívida / Patrimônio | 0.07 |
| Liquidez corrente | 2.38 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 2.53 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -126.81 | -184.45 | -609.31 | -614.85 | 1263.60 | -23.72 | -6.44 | -7.30 | -4.68 | -10.20 |
| P/VP | -6.80 | -8.20 | -7.41 | -9.30 | 16.77 | 5.68 | 2.00 | 1.59 | 1.93 | 3.87 |
| P/V | 6.66 | 10.43 | 7.23 | 8.25 | 11.85 | 4.22 | 1.59 | 1.74 | 2.27 | 2.26 |
| Margem Bruta | 32.2% | 37.7% | 38.4% | 32.9% | 34.7% | 35.5% | 36.4% | 36.4% | 31.8% | 37.0% |
| Margem Operacional | 1.6% | 0.4% | 6.5% | 3.2% | 0.2% | -17.1% | -24.8% | -27.7% | -51.6% | -14.8% |
| Margem Líquida | -5.3% | -5.4% | -1.2% | -4.0% | 0.9% | -17.8% | -24.6% | -23.7% | -48.5% | -22.2% |