CACI International (CACI) 47th Annual Raymond James Institutional Investor Conference summary

Business transformation and market focus

• Shifted from labor hour government services to technology-driven solutions since 2012, emphasizing free cash flow and growth in seven national security-focused markets, including space, cyber, and electronic warfare.

• 90% of revenue now comes from national security, with intentional avoidance of federal civilian markets due to inconsistent funding and growth.

• Strategic positioning in markets with bipartisan support and inescapable funding needs, such as signals intelligence and electronic warfare.

• Embedded workforce of 1,400 in all five combatant commands, providing deep mission understanding and operational differentiation.

• Highly acquisitive approach, building infrastructure to support both commercial and government contracting models for faster, higher-margin growth.

Budget environment and funding outlook

• Significant new funding in electronic warfare and space, with $300 billion in addressable market closely tracked for sustained growth.

• Anticipates material awards in counter-UAS and continued robust funding for signals intelligence and related markets.

• Focus remains on ensuring chosen markets are well-funded, rather than tracking overall federal budget increases.

• Recent government shutdown and budget delays slowed some spending, but core markets remain resilient.

Product and technology portfolio

• Electronic warfare business approaches $2 billion, with technology revenue nearing $5 billion; portfolio includes cyber, digital solutions, and space.

• Acquisitions like LGS Innovations and ARKA expanded capabilities in cellular, photonics, and space-based sensors, supporting growth in space and Golden Dome programs.

• ARKA brings advanced AI models trained on classified payload data, enhancing signal processing and national security applications.

• Navy and Army franchises strengthened through acquisitions and development of EW systems like TLS Manpack and Spectral, enabling rapid, software-driven upgrades.