TLS Shares Decline Despite Securing $13.7M HHS Cybersecurity Contract
Telos Corporation's shares declined by 0.74% despite securing a significant federal contract worth $13.7 million from the Department of Health and Human Services (HHS). The agreement will focus on upgrading cyber governance, risk management, and compliance infrastructure over an 18-month period.
The implementation involves deploying Telos’s complete Xacta platform, which includes Xacta 360, Xacta.io, and Xacta.ai technologies. This solution carries FedRAMP Class D (High) authorization, representing the highest federal security classification available.
According to John B. Wood, chairman and CEO of Telos, implementing the complete Xacta ecosystem across HHS demonstrates the platform's capability to serve large-scale, intricate federal operations.