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Sep 26
V2X Q3 2025 Earnings Report
V2X reported solid third quarter 2025 results with record revenue, increased net income, and strong adjusted diluted EPS.
Key Takeaways
V2X delivered a strong third quarter in 2025, achieving record revenue of $1.17 billion, an 8% increase year-over-year. The company reported a significant rise in net income to $24.6 million, up 63% from the prior year, and an adjusted net income of $43.7 million, a 6% increase. Diluted EPS was $0.77, with adjusted diluted EPS reaching $1.37, also up 6% year-over-year, demonstrating continued operational and strategic execution.
Record revenue of $1.17 billion, marking an 8% increase year-over-year, driven by sustained demand for solutions and strong execution.
Net income surged by 63% to $24.6 million, while adjusted net income grew by 6% to $43.7 million.
Adjusted EBITDA reached $85.2 million, with an adjusted EBITDA margin of 7.3%.
Diluted EPS was $0.77, and adjusted diluted EPS increased by 6% to $1.37, reflecting improved profitability.
V2X
V2X
V2X Revenue by Segment
V2X Revenue by Geographic Location
Revenue by Segment
Cost-plus and cost-reimbursable Revenue
CapyFin.comFirm-fixed-price Revenue
CapyFin.comTime-and-materials Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comMiddle East Revenue
CapyFin.comAsia Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
V2X is raising the midpoint of its 2025 guidance for revenue, adjusted EBITDA, and adjusted diluted EPS, while proactively lowering the midpoint for adjusted net cash provided by operating activities due to potential temporary delays in collections from a government shutdown.
Positive Outlook
- Midpoint for revenue guidance increased from $4,425 million to $4,462.5 million (average of $4,425M and $4,500M).
- Midpoint for adjusted EBITDA guidance increased from $312 million to $316 million (average of $312M and $320M).
- Midpoint for adjusted diluted EPS guidance increased from $4.85 to $4.95 (average of $4.85 and $5.05).
- Performance to date and positive business trends support the increased guidance for key financial metrics.
- The company's capital allocation strategy, including share repurchases and strategic acquisitions, is expected to yield strong returns.
Challenges Ahead
- Midpoint for adjusted net cash provided by operating activities guidance lowered from $150 million to $135 million (average of $120M and $150M).
- The reduction in adjusted net cash provided by operating activities is due to potential temporary delays in collections from a government shutdown.
- Uncertainty regarding the duration and impact of a government shutdown on collections.
- Certain financial information for forward-looking non-GAAP measures is not available and cannot be reasonably estimated, such as unusual, one-time, non-ordinary, or non-recurring costs related to M&A and integration.
- Forward-looking statements are subject to various known and unknown risks and uncertainties that could cause actual results to differ materially from projections.