Thank you, you, joining today. thank John, everyone, for and us
slide to turn Let’s five.
and guidance As gross are above quarter and with original adjusted range John margin completed second the we all also while narrowing our therefore ranges. to full able high guidance of mentioned, the the end EBITDA midpoint year revenues, raise we our of our
sale revenues second million end Security of guidance top quarter entirety to in was were $XX.X Getting Solutions quarter, Revenues second a the and overall. included guidance more and our $XX.X were the million. the forecast large software above into drove XX% that for not the revenue range due business detail the our our declined to company on license of beat for perpetual of total the
total of revenue XX% on consistent as communicated year-over-year Security for contributed with our expectations the calls. The earnings Solutions previously drivers year. in last Solutions company comparable XX% period were from prior slightly revenues, down Security
Secure ongoing program a year-over-year in Telos quarter. a Secure programs were by a ID Communications two on our in of Stable headwind ID. $XX.X recurring at in of Combined, revenues programs million in and the Information end three business and Telos XXXX lower in represented offset revenues as the revenue result loss contraction Communications Assurance these
to Networks. Turning Secure
as due expected, $XX.X continued were to and near consistent million, declined management. earnings prior million communicated As supply year-over-year guidance XXXX successful also Networks with revenues chain completion programs lower on of headwinds quarter in on strong the top primarily a Secure XX% calls, headwind end drove expectations to in revenue large an three and previously range our to in $XX the revenues The second that came our program a quarter. ongoing
margin XX.X%, and basis offset in Security margin to by to of due weighting expanded Gross slightly our profitability. less Solutions, by Networks. slightly higher expansion Gross of the gross by to margin the revenues range exceeded XXX in points. $X.X partially of Secure profit our of XXX high exceeded approximately Security end of our favorable end points basis basis Turning range over margin to contraction margin XX points guidance guidance Solutions business and million a high
software select our business exceeded costs end actions expense to price of primarily large sales XX.X%, materials to a mentioned labor the contracts. of and primarily and cost and lower stock-based higher sales on Security Solutions ongoing due for range to from the expense mix a guidance high our management on fixed significantly and previously perpetual favorable license, sale of programs due expanded more management software of margin Gross indirect and lower compensation
indirect XX.X% end expense due of management our lower to Secure last our Gross high to at ongoing comparable the Networks margin guidance driving actions costs. year, business exceeded range for was but
forecasted were breakeven previously was top of due and $X.X million EBITDA guidance to of profit, Adjusted below-the-line $X.X R&D. end excluding and the ongoing Below by the range lower line as mentioned approximately expenses than better-than-expected lower $X initiatives depreciation expense our exceeded amortization. to and well of gross of the higher previously capitalization management million million due as expenses,
comparable $X.X operations outflow cash flow in million and flow the Now less a quarter. earnings, an $X.X liquidity. favorable outflow, a higher million development to down during let’s lower cash turn million capital inflow was last costs working dynamics. period free to due was capitalized flow year and from $X.X Cash from the Free
prior to sequential from cash As vendor a headwind discrete second first created quarter. earnings payments expected our in and the quarter for call, flow the mentioned
$XX over with undrawn no of million and credit senior an $XXX additional cash, million expansion secured the ended an debt million We revolving facility with quarter $XX feature.
positioned advantage company range and a well be through wide competitive sheet opportunities. support Our conditions strategic remains a continues the balance to operating of and to
turn discuss to for the slide quarter. our to guidance six Let’s third
to For the $XX million third and $X quarter, million adjusted we $XX an million EBITDA of loss of forecast sales a in million. range $X to
to to the forecast decline to year-over-year, revenues to large We Networks Solutions XXXX. persist Security that program decline due throughout Secure both and will to dynamics year-over-year low-XX% revenues same mid-XX% mid-XX% mid-XX%
range sequentially programs of be points with Gross XXX approximately revenue varying margin by year-over-year, basis is down on XXX driven to points up to of the and timing mix expected recognition basis down the within sale second license expected large is of in to Gross and previously due software margin be quarter. mentioned the a quarter. profiles primarily to perpetual also the margin
higher capitalized adjusts business excluding focused $X reserve, expenses below reserves, development ACA software development, costs, PreCheck. higher which costs Telos compensation, approximately below-the-line primarily Assurance, Cash the projected year-over-year, Information million expenses, stock-based on cash $X.X the TSA to to D&A second to approximately year-over-year. to million in management forecasted are million due and growth are management half and $X be line investments planned Including for restructuring be
full slide seven to turn the guidance for discuss year. updated our Let’s to
narrowing our full and the are also of We midpoint our raising year guidance ranges. original
are range of raising to in $XXX midpoint $XXX updated slightly million includes our from guidance. and guidance a Our our in the to revised prior million we revenues $XXX.X million $XXX.X million guidance in
a a $XX guidance loss our includes a are $XX.X EBITDA million adjusted in guidance. guidance Revised loss a also updated ranging we loss to in and loss $XX midpoint million our million raising prior from the to million $XX from
pre-existing business investments programs ID, lower second year Information half on programs of Telos full development, margins, TSA Secure guidance and pre-existing Assurance, new Networks, in R&D Telos revenues higher improved on and and reflects PreCheck. growth on Telos gross AMHS in ACA, in ACA wins higher revenues higher business capitalization focused The
to back With eight. that, who John? it on pass I slide wrap will John, will up
