Thank John, and us you, today. you, thank joining for everyone,
Let's X. turn Slide to
guidance our and of the EBITDA to high the therefore, narrowing in are, As the we sequential $XX.X both to declined the to range. the John full and with Getting XX% due grew Solutions into third end raise year-over-year year we on completed Security ranges. XX% detail and margin our Networks. all revenue third quarter, quarter of while mentioned, growth million guidance And sequentially revenues also able guided Secure total more adjusted midpoint again gross above
of Solutions sequentially a on revenues to third were $XX.X PreCheck business revenues XX% last XX% XX% the TSA our year. third the XX% confidential above top rebound from in Revenues guidance from grew Solutions on revenues contributed Security Security comparable mission accelerated million. total year-over-year for to range fourth end to program period program Security important quarter. company on and a activity higher-than-forecasted quarter due customer in renewal that and cybersecurity quarter including declined a of Solutions volume, the programs, our the outperformance up
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to Turning Networks. Secure
year-over-year secured consistent on networks guidance and $XX.X with expectations to grew As were headwinds sequentially expected, in our range. line revenue our XX% in also The revenues million, with X% year-over-year third on declined a communicated quarter programs a that prior ongoing XXXX primarily in lower headwind as revenues came earnings million $XX to in completion drove quarter. program and an the calls. large X successful
expanded headwind to basis higher GAAP XX% meaningful a offset due over margin onwards. our After development a from profitability. was of margin which, Networks, expense Secure points software by the business expansion Solutions. quarter research GAAP as year-over-year capitalize XXX to to to in of Security Solutions certain on our and contraction accounting, important gross expense basis our GAAP development cost we development begin costs milestones. in In revenues we than software previously development capitalized weighting quarter of intangible will balance third until meet accordance software the of third and sheet. we margin Security more of component margin XXX partially higher-margin points Turning with and Amortization an costs sales asset to from costs gross remain as an and
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useful during non-cash costs investors economics the We period, some expenses is help in better a current gross to reporting excluding gross measure and and believe clarifying years. expended quarters supplemental and the margin understand non-GAAP prior core of margin
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of completion outperformance cost multiple expanded exceeded our end to the points program expanded the basis to lower-margin management. XXXX basis to margin portfolio to Networks gross more due for on programs non-GAAP points the XXX business due Solutions XX.X%, and gross revenue at across XX.X% margin GAAP Secure to favorable mix. XXX our successful forecast of margin due programs Security to due strong
range as $X.X meaningfully profit Networks and $X.X below-the-line not better-than-forecasted prior that from top of by due million $X.X of end disclosed excluding million margin. exceeded and our gross GAAP million in primarily lower expenses, call. million a EBITDA Adjusted well the was to we loss guidance than Secure the was our different amortization margin which forecasted non-GAAP as represents gross management reserve gross previously of depreciation $X.X earnings
was flow inflow flow was revolving cash, cash from with free quarter secured quarter debt Now facility senior $XXX cash free expansion of due no with an favorable returned the undrawn operations working in an cash the $X operations $XX flow million $XX from We outflow. approximately dynamics. to million third an flow to ended Cash credit capital additional feature. let's million and turn We a $XXX,XXX and million to and liquidity. positive
remains competitive balance be well company opportunities. Our and a to the wide conditions continues a through positioned range and operating strategic support sheet to advantage of
X Let's guidance quarter. turn fourth to our discuss for to the Slide
dynamics XXX mid-XX% GAAP to million. basis year-over-year networks quarter, revenues XX% same XXX year-over-year, forecast primarily of we an the sales to primarily basis to of expected to software decline Solutions development XXXX. XX% to For persisted due $XX Security due high costs. be $X.X down the to a points million loss and gross amortization XX% margin million to both is have revenues points in low forecast We year-over-year low range higher $XX that EBITDA decline secured and $X.X to of throughout to million fourth to adjusted capitalized approximately
growth planned restructuring expenses, $X business compensation, to costs, are million and below-the-line assurance, depreciation TSA investments be adjust ACA year-over-year, development, on to and stock-based costs and focused approximately which Telos Cash information software amortization primarily for PreCheck. higher development capitalized forecasted due
to to turn Let's for X the Slide updated guidance full discuss year. our
and full are We again metrics guided midpoint the all year raising our ranges. also narrowing of guided
earnings of now year X and raised XXXX, guidance During we our guidance calls full reaffirmed have twice. once the midpoint of our
to guidance million to in XX% million the margin a a forecasting to Our range $XXX year full a or GAAP the midpoint. We're year $XXX of implies XXX at increase million, midpoint. fourth basis XX.X% gross representing at quarter revenues guidance $X.X full point increase of
an includes updated the million $X loss a or midpoint. at from guidance million adjusted a increase $X.X $X loss EBITDA Lastly, ranging million to
on communications, our improved PreCheck, secure assurance better-than-expected and chain in to in on TSA wins Secure Networks. program performance XXXX, Secure revenue higher-margin programs Networks. strong due of course communications, supply Secure strong new and expanded contract to the has Networks and new and GAAP gross and management renewal information favorable guidance and improved margin on a performance Security has secure guidance wins rates business in and program outperformance due Over pre-existing revenues high-margin Solutions, revenue
gross guidance EBITDA started our revenues margins, in course quarters of higher with combined with improved year multiple adjusted the improved due of has cost and the Lastly, gross restructuring the from to that over management quarter. profit first
guidance XXXX I provide overview March. I'd of that to will earnings of we key determine on to provide turn John, like an in some the the call before over call that ultimately back quarter will our fourth Now the variables
business At our this new XXXX PreCheck potential pending program. believe and in exceeds highly Solutions, opportunities stage, ramp on Security million $XXX and the revenue we our total is TSA opportunity of dependent X
our more All quarter earnings of in which before become March. visible should call fourth
pre-existing X business new Let's break with and into opportunities. pre-existing components: down Starting pending programs. this programs
business August, wins in need in These approximately late our headwind on XXXX overall new depend TSA or TSA headwinds with earnings next communicated and tens and pace a new the a As second size performance embedded PreCheck. year the call few primarily revenue quarter feedback fills inclusive PreCheck. In in of of our fluctuations of programs, volume. timing of this there millions dollars opening is pre-existing from growth of transaction in early programs on market year. the of particular, of headwinds pre-existing locations ultimate The annual enrollment embedded will
Turning in August, on calendar to communicated again, weighted second be to calendar new decisions following tend or business in earnings year. our the early award the opportunities, as new business pending call late quarter to seasonally year
revenue. We are million final numerous pending $XXX representing total currently and value of approximately on awaiting decisions million proposals, new potential award of $XXX XXXX business approximately contract
in two contribution from XXXX start new program XX% decisions of March [ on generate from dates. Approximately from There new with revenue rates and pending task vehicles concentrated and ] will nearly contract business potential revenue The in opportunities long-term new depend XXXX revenue additional on million Solutions also ultimate realized the pending $XXX award is or business may opportunities course over of Security opportunities be before anticipated to XXXX. orders Secure Networks opportunities XXXX. recurring of and win revenue
turning company Accordingly, as Security in substantially total entire the all revenue Solutions as will sales Networks each gross substantially capitalized comparable and revenue business revenue headwind revenue revenue benefit by from roughly in higher Security in overall XX% could software a much the contraction profile our new expected gross Networks. of Lastly, pending be Secure opportunities in programs offset The XXXX reside margin of pre-existing of to Solutions of each Solutions margins. resides of to part margin represent Security in Security amortization Secure XXXX is mix company in Solutions of within XXXX. margin and on as XX% result as higher-margin to segment cost through be higher contribution segment. to and
it back wrap I'll who on Slide that, up pass John, With will to X.
