V2X (VVX) Raymond James TMT and Consumer Conference summary

Business overview and financials

• Delivers national security solutions with $4.3B revenue, targeting $4.5B in 2025 and $300M adjusted EBITDA.

• Operates in 47 countries with 16,000 employees and a $12B backlog, 94% from prime contracts.

• Revenue diversified: 40% Army, 33% Navy, 11% Air Force, 5% FedCiv, 55% US-based, 32% Middle East, 8% INDOPACOM, 5% Europe.

• No single contract or task order exceeds 10% of revenue; 60% cost-plus, 40% fixed price contracts.

• Anticipates margin improvement as DoD shifts to more fixed price, outcome-based contracts.

Core capabilities and recent contract wins

• Supports full warfighter lifecycle: training, deployment logistics, mission support, equipment renewal, and modernization.

• Holds Army’s largest training contract (WTRS) and recently executed a major training mission in Germany.

• Operates the largest Army cyber center outside the US and provides assured communications and infrastructure support.

• Awarded $200M DEA and $100M FBI contracts for aircraft readiness; delivers high readiness rates for military aircraft.

• Won $4.3B T-6 Air Force contract (under protest), $1B Iraq F-16 support, and $425M F-16 cockpit modernization IDIQ.

Innovation and growth initiatives

• Modernizes legacy platforms by integrating new technologies, enabling digital upgrades without major downtime.

• Rapid prototyping and engineering at Indy facility, including Tempest Counter-UAS system and GMR 1000 for seamless communications.

• Indy facility is a fast-growing business segment, supporting rapid fielding and novel solutions.

• Pipeline exceeds $50B over the next three years, with notable pursuits leveraging company-wide capabilities.