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    V2X Reports Record Revenue in Fourth Quarter 2024, Driving Strong Year-End Performance

    2/24/25 4:05:00 PM ET
    $VVX
    Diversified Commercial Services
    Consumer Discretionary
    Get the next $VVX alert in real time by email

    Fourth Quarter Highlights

    • Record revenue of $1.16 billion, up 11% y/y
    • Indo-Pacific revenue growth of 27% y/y driven by increased demand
    • Book-to-bill of 1.2x in the quarter and total backlog of $12.5 billion as of December 31, 2024
    • Record net income of $25.0 million; Adjusted net income1 of $42.7 million, up 10% y/y
    • Grew adjusted EBITDA1 $4.1 million y/y to $86.2 million, with a margin of 7.4%
    • Diluted EPS of $0.78; Adjusted diluted EPS1 of $1.33, up 9% y/y
    • Strong year-to-date cash flow from operations of $254 million
    • Achieved net debt reduction of $210 million and 2.6x net leverage ratio1

    RESTON, Va., Feb. 24, 2025 /PRNewswire/ -- V2X, Inc. (NYSE:VVX) announced fourth quarter and full-year 2024 financial results.

    V2X (PRNewsfoto/V2X, Inc.)

    "Our growth momentum continued into the fourth quarter with revenue increasing 11% year-over-year, driven by solid growth in all geographies and underscored by 27% growth in the Indo-Pacific region, as the DoD continues to focus on enhancing readiness and deterrence," said Jeremy Wensinger, President and Chief Executive Officer. "The combination of our unique mission insight, comprehensive full lifecycle capabilities, and 80-year reputation as a trusted partner is yielding results through expansion in key theaters, exceptional financial performance, and recent awards, which achieved a book-to-bill of 1.2x. The leading indicators in our business remain strong with a $12.5 billion backlog, limited recompetes, and a robust pipeline of new opportunities."

    Mr. Wensinger continued, "Looking ahead, we are excited about the future. We believe our track record of enhancing outcomes and increasing value for customers through innovation, modernization, and improved operational performance can enable the DoD to solve its very real challenge of having to be prepared for today while planning for the threats of tomorrow."

    Mr. Wensinger concluded, "I'd like to recognize the 16,000 plus V2X employees for all their contributions and performance throughout the year and in particular during the fourth quarter. We thank you for all you have done and continue to do for our nation and our company."

    Fourth Quarter 2024 Results 

    "V2X reported record revenue of $1.16 billion in the quarter, which represents 11% year-over-year growth," said Shawn Mural, Senior Vice President and Chief Financial Officer. "We closed the year with strong performance across all financial metrics, driven by double digit topline growth and excellent cash generation."   

    "For the quarter, the Company reported operating income of $51.6 million and adjusted operating income1 of $80.6 million. V2X delivered record adjusted EBITDA1 of $86.2 million, with a margin of 7.4%. Fourth quarter GAAP diluted EPS was $0.78. Adjusted diluted EPS1 for the quarter increased 9% year-over-year to $1.33."

    "Fourth quarter net cash provided by operating activities was $223.1 million. Adjusted net cash provided by operating activities1 increased 122% year-over-year to $168.2 million."

    "Our continued focus on cash generation and debt reduction yielded notable results with net debt improving $210 million dollars year-over-year.  At the end of the fourth quarter, net debt for V2X was $874 million.  Our commitment to achieve a net leverage ratio at or below 3.0x was a company-wide priority. I'm pleased to report that we demonstrated excellent performance on this front, delivering a net leverage ratio1 of 2.6x at the end of the fourth quarter, which represents a 0.7x improvement year-over-year."  

    "Total backlog as of December 31, 2024, was $12.5 billion. Funded backlog was $2.3 billion. Book-to-bill in the quarter was approximately 1.2x."

    Full-Year 2024 Results

    "Full-year revenue was $4.32 billion, up 9% year-over-year. The Company reported full-year operating income of $159.2 million and adjusted operating income1 of $286.2 million. Full-year adjusted EBITDA1 was $310.2 million with a margin of 7.2%. Full-year GAAP diluted EPS was $1.08. Adjusted diluted EPS1 for 2024 was $4.34, increasing 16% year-over-year. On a year-to-date basis, net cash provided by operating activities was $254.2 million. Adjusted net cash provided by operating activities1 was $161.0 million."

    2025 Guidance

    Mr. Mural concluded, "The trends in our business remain positive and we believe our strategy to deliver full lifecycle solutions that increase efficiency, reduce costs, modernize capabilities, improve readiness, and strengthen national security provides substantial opportunities for future growth and value creation. For 2025 we are setting the mid-point of our guidance for revenue and Adjusted EBITDA1 at $4.44 billion and $313 million, respectively. This assumes revenue and adjusted EBITDA to be weighted more heavily in the second half of the year. Revenue guidance at the mid-point assumes approximately 4% contribution from recompetes."

    Guidance for 2025 is as follows:           

    $ millions, except for per share amounts

    2025 Guidance

    2025 Mid-Point

    Revenue

    $4,375



    $4,500

    $4,438

    Adjusted EBITDA1

    $305



    $320

    $313

    Adjusted Diluted Earnings Per Share1

    $4.45



    $4.85

    $4.65

    Adjusted Net Cash Provided by Operating Activities1

    $150



    $170

    $160

    The Company is not providing a quantitative reconciliation with respect to the foregoing forward-looking non-GAAP measures in reliance on the "unreasonable efforts" exception set forth in SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. For example, unusual, one-time, non-ordinary, or non-recurring costs, which relate to M&A, integration and related activities cannot be reasonably estimated. Forward-looking statements are based upon current expectations and are subject to factors that could cause actual results to differ materially from those suggested here, including those factors set forth in the Safe Harbor Statement below. 

    Fourth Quarter Conference Call

    Management will conduct a conference call with analysts and investors at 4:30 p.m. ET on Monday, February 24, 2025. U.S.-based participants may dial in to the conference call at 877-300-8521, while international participants may dial 412-317-6026. A live webcast of the conference call as well as an accompanying slide presentation will be available here: https://app.webinar.net/W6kmnm4z8V9

    A replay of the conference call will be posted on the V2X website shortly after completion of the call and will be available for one year. A telephonic replay will also be available through March 10, 2025, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10195666. 

    Presentation slides that will be used in conjunction with the conference call will also be made available online in advance on the "investors" section of the company's website at https://gov2x.com. V2X recognizes its website as a key channel of distribution to reach public investors and as a means of disclosing material non-public information to comply with its obligations under the U.S. Securities and Exchange Commission ("SEC") Regulation FD.

    1

    See "Key Performance Indicators and Non-GAAP Financial Measures" for descriptions and reconciliations.

    About V2X

    V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.

    Investor Contact

    Media Contact

    Mike Smith, CFA

    Angelica Spanos Deoudes

    [email protected]

    [email protected]

    719-637-5773

    571-338-5195

    Safe Harbor Statement

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the "Act"): Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Act. These forward-looking statements include, but are not limited to, all the statements and items listed under "2025 Guidance" above and other assumptions contained therein for purposes of such guidance, other statements about our 2025 performance outlook, revenue, contract opportunities, and any discussion of future operating or financial performance.

    Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "could," "potential," "continue" or similar terminology. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management. Forward-looking statements in this press release, include, but are not limited to our future performance and capabilities; our expectations regarding the pipeline of new opportunities; our belief in our ability to achieve budget efficiencies; future net leverage ratio; and our belief in our ability to achieve our total year guidance.

    These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside our management's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.  In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company's historical experience and our present expectations or projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC.

    We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    V2X, INC.

    CONSOLIDATED STATEMENTS OF INCOME (LOSS)







    Year Ended December 31,

    (In thousands, except per share data)



    2024



    2023



    2022

    Revenue



    $   4,322,155



    $   3,963,126



    $   2,890,860

    Cost of revenue



    3,979,193



    3,628,271



    2,595,848

    Selling, general and administrative expenses



    183,758



    210,439



    239,241

    Operating income



    159,204



    124,416



    55,771

    Loss on extinguishment of debt



    (1,998)



    (22,298)



    —

    Interest expense, net



    (107,900)



    (122,442)



    (61,879)

    Other expense, net



    (10,465)



    (4,194)



    —

    Income (loss) from operations before income taxes



    38,841



    (24,518)



    (6,108)

    Income tax expense (benefit)



    4,157



    (1,945)



    8,222

    Net income (loss)



    $        34,684



    $       (22,573)



    $       (14,330)















    Earnings (loss) per share













    Basic



    $           1.10



    $          (0.73)



    $          (0.68)

    Diluted



    $           1.08



    $          (0.73)



    $          (0.68)

    Weighted average common shares outstanding – basic



    31,485



    31,084



    20,996

    Weighted average common shares outstanding – diluted



    31,967



    31,084



    20,996

     

    V2X, INC.

    CONSOLIDATED BALANCE SHEETS







    December 31,

    (In thousands, except shares and per share data)



    2024



    2023

    Assets









    Current assets









       Cash, cash equivalents and restricted cash



    $         268,321



    $           72,651

       Receivables



    710,068



    705,995

       Inventory, net



    50,894



    46,981

       Prepaid expenses and other current assets



    70,937



    49,242

    Total current assets



    1,100,220



    874,869

       Property, plant, and equipment, net



    62,001



    85,429

       Goodwill



    1,656,926



    1,656,926

       Intangible assets, net



    323,068



    407,530

       Right-of-use assets



    37,774



    41,215

       Other non-current assets



    48,854



    15,931

    Total non-current assets



    2,128,623



    2,207,031

    Total Assets



    $      3,228,843



    $      3,081,900

    Liabilities and Shareholders' Equity









    Current liabilities









       Accounts payable



    $         547,568



    $         453,052

       Compensation and other employee benefits



    166,918



    158,088

       Short-term debt



    20,003



    15,361

       Other accrued liabilities



    261,735



    213,700

    Total current liabilities



    996,224



    840,201

       Long-term debt, net



    1,087,484



    1,100,269

       Deferred tax liabilities



    20,983



    11,763

       Operating lease liabilities



    33,811



    34,691

       Other non-current liabilities



    64,189



    104,176

     Total non-current liabilities



    1,206,467



    1,250,899

    Total liabilities



    2,202,691



    2,091,100

    Commitments and contingencies (Note 15)









    Shareholders' Equity









       Preferred stock; $0.01 par value; 10,000,000 shares authorized; No shares issued and outstanding



    —



    —

       Common stock; $0.01 par value; 100,000,000 shares authorized; 31,560,490 and 31,191,628 shares issued and outstanding as of December 31, 2024 and 2023, respectively



    316



    312

       Additional paid in capital



    769,719



    762,324

       Retained earnings



    265,535



    230,851

       Accumulated other comprehensive loss



    (9,418)



    (2,687)

    Total shareholders' equity



    1,026,152



    990,800

    Total Liabilities and Shareholders' Equity



    $      3,228,843



    $      3,081,900

     

    V2X, INC.

    CONSOLIDATED STATEMENTS OF CASH FLOWS







    Year Ended December 31,

    (In thousands)



    2024



    2023



    2022

    Operating activities













    Net income (loss)



    $    34,684



    $   (22,573)



    $   (14,330)

    Adjustments to reconcile net income (loss) to net cash provided by operating activities:

       Depreciation expense



    20,747



    22,408



    13,472

       Amortization of intangible assets



    90,821



    90,423



    48,643

       Amortization of cloud computing arrangements



    3,314



    480



    514

       Gain from acquisitions, net



    (2,193)



    —



    —

       Impairment of non-operating long-lived asset



    2,192



    —



    —

       Loss on disposal of property, plant, and equipment



    1,450



    683



    59

       Stock-based compensation



    15,969



    32,843



    32,736

       Deferred taxes



    7,730



    (7,509)



    (15,554)

       Amortization of debt issuance costs



    7,380



    9,067



    7,805

       Loss on extinguishment of debt



    1,998



    22,298



    —

       Gain on disposition of business



    —



    (450)



    (2,082)

    Changes in assets and liabilities:













       Receivables



    25,181



    19,064



    (52,311)

       Inventory, net



    (3,976)



    (311)



    (3,600)

       Other assets



    (38,358)



    11,596



    14,448

       Accounts payable



    75,335



    43,153



    71,837

       Compensation and other employee benefits



    9,128



    (9,901)



    42,878

       Other liabilities



    2,835



    (23,303)



    (51,020)

       Net cash provided by operating activities



    254,237



    187,968



    93,495

    Investing activities













    Purchases of capital assets and intangibles



    (11,787)



    (25,021)



    (12,425)

    Proceeds from the disposition of assets



    76



    16



    9

    Acquisition of businesses, net of cash acquired



    (16,939)



    —



    193,677

    Disposition of business



    —



    1,349



    (5,303)

    Distributions from (contributions to) joint venture



    —



    1,007



    —

       Net cash (used in) provided by investing activities



    (28,650)



    (22,649)



    175,958

    Financing activities













    Proceeds from issuance of long-term debt



    —



    250,000



    —

    Repayments of long-term debt



    (15,327)



    (432,603)



    (108,400)

    Proceeds from revolver



    1,266,250



    922,750



    392,000

    Repayments of revolver



    (1,266,250)



    (922,750)



    (472,925)

    Proceeds from exercise of stock options



    154



    34



    408

    Payment of debt issuance costs



    (1,188)



    (8,818)



    (2,325)

    Prepayment premium on early redemption of debt



    —



    (1,600)



    —

    Payments of employee withholding taxes on share-based compensation



    (8,138)



    (18,036)



    (1,994)

       Net cash used in financing activities



    (24,499)



    (211,023)



    (193,236)

    Exchange rate effect on cash



    (5,418)



    2,288



    1,337

    Net change in cash, cash equivalents and restricted cash



    195,670



    (43,416)



    77,554

    Cash, cash equivalents and restricted cash – beginning of year



    72,651



    116,067



    38,513

    Cash, cash equivalents and restricted cash – end of year



    $  268,321



    $    72,651



    $  116,067

    Supplemental Disclosure of Cash Flow Information:













    Interest paid



    $  107,607



    $  117,482



    $    54,267

    Income taxes paid



    $      8,819



    $      8,356



    $    13,416

    Non-cash investing activities:













    Purchase of capital assets on account



    $           22



    $      3,043



    $      2,716

    Common stock issued for business acquisition



    $           —



    $           —



    $  630,636

     

    Key Performance Indicators and Non-GAAP Measures

    The primary financial performance measures we use to manage our business and monitor results of operations are revenue trends and operating income trends. Management believes that these financial performance measures are the primary drivers for our earnings and net cash from operating activities. Management evaluates its contracts and business performance by focusing on revenue, and operating income. Operating income represents revenue less both cost of revenue and selling, general and administrative (SG&A) expenses. Cost of revenue consists of labor, subcontracting costs, materials, and an allocation of indirect costs. SG&A expenses consist of indirect labor costs (including wages and salaries for executives and administrative personnel), bid and proposal expenses and other general and administrative expenses not allocated to cost of revenue. Backlog is the estimated amount of future revenues to be recognized under negotiated contracts.

    We manage the nature and amount of costs at the program level, which forms the basis for estimating our total costs and profitability. This is consistent with our approach for managing our business, which begins with management's assessing the bidding opportunity for each contract and then managing contract profitability throughout the performance period.

    In addition to the key performance measures discussed above, we consider adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio and adjusted operating cash flow to be useful to management and investors in evaluating our operating performance, and to provide a tool for evaluating our ongoing operations. This information can assist investors in assessing our financial performance and measures our ability to generate capital for deployment among competing strategic alternatives and initiatives. We provide this information to our investors in our earnings releases, presentations, and other disclosures.

    Adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio, and adjusted net cash provided by (used in) operating activities, however, are not measures of financial performance under GAAP and should not be considered a substitute for financial measures determined in accordance with GAAP.  Definitions and reconciliations of these items are provided below.

    • Adjusted operating income is defined as operating income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration, and related costs.
    • Adjusted EBITDA is defined as operating income, adjusted to exclude depreciation and amortization of intangible assets, and items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration, and related costs.
    • Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue.
    • Adjusted net income is defined as net income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration and related costs, amortization of acquired intangible assets, amortization of debt issuance costs, and loss on extinguishment of debt.
    • Adjusted diluted earnings per share is defined as adjusted net income divided by the weighted average diluted common shares outstanding.
    • Cash interest expense, net is defined as interest expense, net adjusted to exclude amortization of debt issuance costs.
    • Adjusted net cash provided by (used in) operating activities or adjusted operating cash flow is defined as net cash provided by (or used in) operating activities adjusted to exclude infrequent non-operating items, such as M&A payments and related costs.
    • Net leverage ratio is defined as net debt (or total debt less unrestricted cash) divided by trailing twelve-month (TTM) bank EBITDA.

    Non-GAAP Tables





















    ($K, except per share data)

    Three Months Ended



    Twelve Months Ended





    December 31, 2024



    December 31, 2023



    December 31, 2024



    December 31, 2023



    Revenue

    $                      1,157,752



    $                   1,040,307



    $                       4,322,155



    $                        3,963,126



    Net income (loss)

    $                           25,033



    $                            (492)



    $                            34,684



    $                            (22,573)



    Plus:

















    Income tax expense (benefit)

    1,261



    8,420



    4,157



    (1,945)



    Other expense, net

    899



    1,859



    10,465



    4,194



    Interest expense, net

    24,367



    28,497



    107,900



    122,442



    Loss on extinguishment of debt

    —



    246



    1,998



    22,298



    Operating income

    $                            51,560



    $                        38,530



    $                           159,204



    $                            124,416



    Plus:

















    Amortization of intangible assets

    22,569



    22,606



    90,821



    90,423



    M&A, integration and related costs

    6,480



    15,055



    36,124



    56,610



    Adjusted operating income

    $                            80,610



    $                        76,191



    $                           286,150



    $                           271,449



    Plus:

















    Depreciation and CCA amortization

    5,546



    5,875



    24,061



    22,408



    Adjusted EBITDA

    $                            86,156



    $                        82,066



    $                            310,211



    $                           293,857



    Adjusted EBITDA margin

    7.4 %



    7.9 %



    7.2 %



    7.4 %



    Minus:

















    Cash interest expense, net

    22,704



    26,305



    100,519



    113,375



    Income tax expense, as adjusted

    12,147



    9,101



    36,334



    35,430



    Depreciation and CCA amortization

    5,546



    5,875



    24,061



    22,408



    Other expense, net, as adjusted

    3,092



    1,859



    10,465



    4,194



    Adjusted net income

    $                            42,667



    $                        38,926



    $                            138,831



    $                            118,450





















    ($K, except per share data)

    Three Months Ended



    Twelve Months Ended





    December 31, 2024



    December 31, 2023



    December 31, 2024



    December 31, 2023



    Diluted earnings (loss) per share

    $                                0.78



    $                         (0.02)



    $                                  1.08



    $                                (0.73)



    Plus:

















    M&A, integration and related costs

    0.12



    0.45



    0.87



    1.42



    Amortization of intangible assets

    0.47



    0.68



    2.18



    2.26



    Amortization of debt issuance costs and

    Loss on extinguishment of debt

    0.03



    0.11



    0.23



    0.79



    FMV land impairment

    $                               (0.00)



    -



    0.05



    -



    Gain on acquisiton, net

    $                               (0.07)



    -



    $                               (0.07)



    -



    Adjusted diluted earnings per share

    $                                1.33



    $                            1.22



    $                                 4.34



    $                                 3.74





















    Average shares outstanding:

















    Basic, as reported

    31,558



    31,192



    31,485



    31,084



    Diluted, as reported

    32,043



    31,192



    31,967



    31,084



    Adjusted diluted

    32,043



    31,822



    31,967



    31,567



















     





















    ($K)

    Three Months Ended



    Twelve Months Ended





    December 31, 2024



    December 31, 2023



    December 31, 2024



    December 31, 2023



    Net cash provided by operating activities

    223,134



    52,793



    254,237



    187,968



    Plus:

















    M&A, integration, CARES Act, and related payments

    17,490



    6,009



    42,534



    40,257



    MARPA facility activity

    (72,440)



    17,066



    (135,788)



    (68,766)



    Adjusted operating cash flow

    168,183



    75,868



    160,982



    159,459

     

    ($K)

    TTM



    December 31, 2024

    Net income (loss)

    $                                   34,684

    Plus:



    Interest expense, net

    107,900

    Income tax expense

    4,157

    Depreciation and amortization

    114,882

    Additional permitted add-backs1

    71,284

    TTM Bank EBITDA

    $                                 332,908





    ($K, except ratio)

    Period Ending



    December 31, 2024

    Total debt

    $                              1,138,833





    Cash, cash equivalents and restricted cash

    $                                 268,321

    Less:



    Restricted cash

    (3,148)

    Cash and cash equivalents

    $                                 265,173





    Net debt

    $                                 873,660

    TTM bank EBITDA

    $                                 332,908

    Net leverage ratio

     2.62x

    1Additional permitted add-backs includes among other items, non-cash losses like loss on extinguishment of debt and/or lease impairments, stock compensation, transaction and integration related costs, and pro forma cost savings.

     

    SUPPLEMENTAL INFORMATION

    Revenue by customer, contract type, contract relationship, and geographic region for the periods presented below was as follows: 

    Revenue by Customer







    Year Ended December 31,

    (In thousands)



    2024



    2023



    2022

    Army



    $     1,837,843



    $     1,633,525



    $     1,342,406

    Navy



    1,441,355



    1,233,463



    713,732

    Air Force



    481,265



    538,698



    459,849

    Other



    561,692



    557,440



    374,873

    Total revenue



    $     4,322,155



    $     3,963,126



    $     2,890,860





    Revenue by Contract Type







    Year Ended December 31,

    (In thousands)



    2024



    2023



    2022

    Cost-plus and cost-reimbursable



    $    2,531,792



    $     2,209,241



    $     1,625,196

    Firm-fixed-price



    1,675,603



    1,626,262



    1,159,743

    Time-and-materials



    114,760



    127,623



    105,921

    Total revenue



    $    4,322,155



    $     3,963,126



    $     2,890,860





    Revenue by Contract Relationship







    Year Ended December 31,

    (In thousands)



    2024



    2023



    2022

    Prime contractor



    $     4,049,543



    $     3,726,199



    $     2,695,067

    Subcontractor



    272,612



    236,927



    195,793

    Total revenue



    $     4,322,155



    $     3,963,126



    $     2,890,860





    Revenue by Geographic Region







    Year Ended December 31,

    (In thousands)



    2024



    2023



    2022

    United States



    $    2,388,598



    $     2,286,052



    $     1,494,255

    Middle East



    1,399,436



    1,193,598



    1,024,674

    Asia



    326,961



    264,346



    167,629

    Europe



    207,160



    219,130



    204,302

    Total revenue



    $    4,322,155



    $     3,963,126



    $     2,890,860

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/v2x-reports-record-revenue-in-fourth-quarter-2024-driving-strong-year-end-performance-302383761.html

    SOURCE V2X, Inc.

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