V2X (VVX) 16th Annual Wells Fargo Industrials & Materials Conference summary

Business overview and positioning

• Provides end-to-end mission enablement, including engineering, modernization, readiness, and operations, with vertically integrated capabilities spanning prototyping to global deployment and support.

• Recent contract wins include a $4.3 billion, nine-year T-6 aircraft readiness program and expanded modernization work on KC-130J and F-18 platforms.

• Tempest counter-unmanned systems platform rapidly developed and fielded, now attracting multiple customers across regions.

Growth, backlog, and diversification

• Backlog approached $14 billion after Q1, with a trailing 12-month book-to-bill of 1.5x, supporting strong revenue visibility.

• Growth driven by minimal recompetes, increased bid volume (up 30%), and expansion into foreign military sales and intelligence community contracts.

• Portfolio diversification is deliberate, with international revenue now over 20% and INDOPACOM revenue surpassing Europe by 60%.

Strategic initiatives and leadership

• Leadership focused on optimizing core business, expanding into adjacent markets, extending offerings (e.g., Tempest), and investing in internal R&D and targeted acquisitions.

• Recent cyber acquisition and partnerships with tech leaders like Google, Amazon, and NVIDIA enhance capabilities and customer solutions.