VVX
V2X, Inc.55.48
+0.11+0.2%
Dec 16, 4:00:03 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details guide, ME caution
Q&A largely reaffirmed prepared remarks, adding granular color on 2026 guidance like $140-160M T-6 revenue contribution amid a 90-120 day materials lag and ~85% backlog coverage. Middle East tensions prompt employee safety focus over growth speculation; Indo-Pacific flat early-year. AI partnerships with AWS/Google detailed as data-driven warehousing and mission AI boosts. New programs risk initial margin dilution before ramping accretively. Fixed-price interest rises but no awards yet. Presence matters. Management stays confident on bid velocity and >1x book-to-bill with T-6; watch regional ops and wins.
Key Stats
Market Cap
1.73BP/E (TTM)
22.10Basic EPS (TTM)
2.51Dividend Yield
0%Recent Filings
10-K
FY2025 results
V2X drove FY2025 revenue to $4.5B, up 3.7% y/y from $4.3B, fueled by U.S. program ramps adding $221M while Middle East dipped $48M. Operating income surged 22% to $194M (4.3% margin) on program execution, ended contractual commitments, and lower SG&A. Army stayed steady at $1.8B (41%), LOGCAP Kuwait eased to 9.9%. Q4 momentum shone in U.S. growth offsetting overseas softness. Backlog dipped to $11.1B ($2.3B funded). Debt fell to $1.1B with $369M cash and $479M revolver room; repurchased $30M shares. Yet recompetes pose revenue risks.
8-K
V2X Q4 revenue up 5%
V2X reported Q4 2025 revenue of $1.22B, up 5% year-over-year, with adjusted EBITDA at $88.7M and record adjusted diluted EPS of $1.56. Full-year revenue hit $4.48B, up 4%, adjusted net income rose 20% to $166.8M, while net debt fell $116M to a 2.2x leverage ratio. Guidance targets 6% growth in revenue and adjusted EBITDA for 2026. Backlog stands at $11.1B.
8-K
V2X adds three directors
V2X expanded its board from 7 to 10 members on January 7, 2026, appointing Nicole B. Theophilus, Gerard A. Fasano, and Ross S. Niebergall with deep expertise from Wabtec, Leidos, and L3Harris. Theophilus joins Compensation and Human Capital, Fasano Audit, Niebergall Nominating and Governance. New directors get $105,000 cash retainer plus $165,000 RSUs. Board bolsters defense tech governance.
8-K
Shareholder sells shares, board shrinks
V2X's major shareholder Vertex Aerospace Holdco sold 2.25 million shares on November 13, 2025, via public offering, triggering resignations of its two board designees, Dino Cusumano and Joel M. Rotroff, with no disagreements cited. Board shrank from 9 to 7 members. V2X repurchased 363,638 shares; shareholders agreement terminated as ownership fell to 18.7%. Shareholder loses board nomination rights.
8-K
V2X names new CAO
V2X appointed Daniel G. Demases as Chief Accounting Officer effective December 5, 2025, replacing William B. Noon. He joins with a $335,500 base salary, 45% target short-term incentive, and $180,000 target 2026 long-term award split between RSUs and PSUs. Smooth transition bolsters accounting leadership.
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