Ashburn, Va. – August 3, 2023 – Telos Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced that its cyber risk management and compliance solution, Xacta®, has been prioritized by the U. S. Federal Risk and Authorization Management Program (FedRAMP®) to pursue a Provisional Authority to Operate (P-ATO) from the Joint Authorization Board (JAB).
According to the JAB Prioritization Criteria and FedRAMP Connect Guide, “FedRAMP may prioritize up to 12 cloud service offerings (CSOs) per year,” and that “the most important criteria for JAB prioritization is to demonstrate government-wide demand for the CSO.”
“Receiving the prioritization to pursue a provisional ATO from the Joint Authorization Board speaks to the trust in and value of Xacta within the federal government,” said John B. Wood, CEO and chairman at Telos. “Furthermore, ultimately achieving our P-ATO will provide multiple defense industry base (DIB) and government agencies a validated SaaS option for our OSCAL-enabled premiere cyber risk management and compliance solution.”
FedRAMP is a government-wide program that promotes the adoption of secure cloud services across the federal government, reinforced in the FedRAMP Authorization Act, part of the FY2023 National Defense Authorization Act, by providing a standardized approach to security and risk assessment for cloud technologies and federal agencies. The JAB is the primary governance and decision-making body for FedRAMP, which consists of the CIOs from the Department of Defense, the Department of Homeland Security, and the General Services Administration.
The Xacta suite of enterprise cyber risk management and compliance automation solutions helps organizations meet the complex challenges of managing IT risk with continuous compliance monitoring, security assessment and ongoing authorization. For more information about Xacta, including various use cases, visit www.telos.com/xacta.
This press release contains forward-looking statements which are made under the safe harbor provisions of the federal securities laws. These statements are based on the Company’s management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to them. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in the Company’s filings and reports with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2022, as well as future filings and reports by the Company, copies of which are available at https://investors.telos.com and on the SEC’s website at www.sec.gov.
Although the Company bases these forward-looking statements on assumptions that the Company’s management believes are reasonable when made, they caution the reader that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, financial condition and liquidity, and industry developments, may differ materially from statements made in or suggested by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions the reader not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to update any forward-looking statement publicly, or to revise any forward-looking statement to reflect events or developments occurring after the date of the statement, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.