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Summary of Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Summary of Selected Quarterly Financial Data (Unaudited) [Abstract]  
Summary of Selected Quarterly Financial Data (Unaudited)
Note 12. Summary of Selected Quarterly Financial Data (Unaudited)

The following is a summary of selected quarterly financial data for the previous two fiscal years (in thousands):

 
Quarters Ended
 
  
March 31
  
June 30
  
Sept. 30
  
Dec. 31
 
2019
            
Revenue
 
$
31,166
  
$
36,048
  
$
45,531
  
$
46,473
 
Gross profit
  
8,976
   
10,015
   
16,313
   
17,040
 
(Loss) income before income taxes and non-controlling interest
  
(3,137
)
  
(1,974
)
  
3,708
   
(838
)
Net (loss) income attributable to Telos Corporation (1)(2)
  
(3,413
)
  
(1,741
)
  
2,233
   
(3,480
)
                 
2018
                
Revenue
 
$
32,401
  
$
34,943
  
$
34,695
  
$
35,977
 
Gross profit
  
10,232
   
12,078
   
16,287
   
14,465
 
(Loss) income before income taxes and non-controlling interest
  
(1,693
)
  
450
   
4,722
   
(1,711
)
Net (loss) income attributable to Telos Corporation (1)(3)
  
(1,986
)
  
(87
)
  
4,113
   
(3,680
)

(1)
Changes in net income are the result of several factors, including seasonality of the government year-end buying season, as well as the nature and timing of other deliverables.
(2)
Net income for the third quarter of 2019 is attributable to $2.6 million in proprietary software sales which carry lower cost of sales.
(3)
Net income for the third quarter of 2018 included $5.6 million of revenue accruals for multiple contracts as a result of several years of cumulative indirect rate adjustments which did not include direct costs in Secure Mobility and Network Management/Defense Enterprise deliverables.