Group 1 - V2X reported quarterly earnings of $1.33 per share, exceeding the Zacks Consensus Estimate of $1.14 per share, and showing an increase from $1.22 per share a year ago, resulting in an earnings surprise of 16.67% [1] - The company achieved revenues of $1.16 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.27%, compared to $1.04 billion in the same quarter last year [2] - Over the last four quarters, V2X has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2 - The stock has underperformed, losing about 12% since the beginning of the year, while the S&P 500 has gained 2.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.94 on revenues of $1.04 billion, and for the current fiscal year, it is $4.78 on revenues of $4.45 billion [7] - The Zacks Industry Rank indicates that the Technology Services sector is in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Performance - Record revenue of $1.16 billion in Q4 2024, representing an 11% year-over-year growth[5] - Record net income of $25.0 million in Q4 2024; adjusted net income of $42.7 million, up 10% year-over-year[5] - Full-year revenue for 2024 was $4.32 billion, up 9% year-over-year[7] - Net income for the year ended December 31, 2024, was $34,684, compared to a net loss of $(22,573) in 2023[25] - Revenue for the twelve months ended December 31, 2024, was $4,322,155, an increase from $3,963,126 in 2023, representing a growth of approximately 9.1%[32] - Adjusted diluted EPS for 2024 increased 16% year-over-year to $4.34[7] - Operating income for the year ended December 31, 2024, was $159,204, up from $124,416 in 2023, representing a growth of approximately 28%[32] Revenue Breakdown - Indo-Pacific region revenue grew by 27% year-over-year, driven by increased demand[5] - Revenue from the Army segment was $1,837,843, up 12.5% from $1,633,525 in 2023[35] - Revenue from prime contracts amounted to $4,049,543, representing a 8.7% increase from $3,726,199 in 2023[37] - Cost-plus and cost-reimbursable contracts generated $2,531,792 in revenue, a rise of 14.6% from $2,209,241 in 2023[36] - Revenue from the United States was $2,388,598, reflecting a growth of 4.5% compared to $2,286,052 in 2023[38] - The Middle East region contributed $1,399,436, an increase of 17.3% from $1,193,598 in 2023[38] - The Air Force segment's revenue decreased to $481,265, down 10.7% from $538,698 in 2023[35] Cash Flow and Debt Management - Strong year-to-date cash flow from operations of $254 million[5] - Net cash provided by operating activities for the year ended December 31, 2024, was $254,237, up from $187,968 in 2023, indicating a growth of approximately 35.2%[25] - Cash, cash equivalents, and restricted cash at the end of the year was $268,321, compared to $72,651 at the beginning of the year, showing a significant increase[25] - Net debt reduced by $210 million year-over-year, with a net leverage ratio of 2.6x at the end of Q4 2024[6] - Cash and cash equivalents totaled $265,173, while total debt stood at $1,138,833[33] Future Outlook - Book-to-bill ratio of 1.2x in Q4 2024, with a total backlog of $12.5 billion as of December 31, 2024[5][6] - 2025 revenue guidance set at a midpoint of $4.44 billion, assuming approximately 4% contribution from recompetes[8][9] Adjusted Metrics - Adjusted EBITDA for Q4 2024 was $86.2 million, with a margin of 7.4%[6] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $310,211, compared to $293,857 in 2023, reflecting an increase of about 5.5%[32] - Adjusted operating cash flow for the year ended December 31, 2024, was $160,982, compared to $159,459 in 2023, indicating a slight increase[32] - The company incurred $36,124 in M&A, integration, and related costs for the year ended December 31, 2024[32] - The company reported additional permitted add-backs of $71,284, which include non-cash losses and transaction-related costs[33]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36341 V2X, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Core Insights - V2X, Inc. reported a record revenue of $1.16 billion for Q4 2024, reflecting an 11% year-over-year growth, with significant contributions from the Indo-Pacific region, which saw a 27% increase [2][3][9] - The company achieved a book-to-bill ratio of 1.2x and has a total backlog of $12.5 billion as of December 31, 2024, indicating strong future revenue potential [3][9] - Full-year revenue for 2024 reached $4.32 billion, a 9% increase from the previous year, with adjusted diluted EPS rising 16% year-over-year to $4.34 [4][9] Financial Performance - Q4 2024 operating income was reported at $51.6 million, with adjusted operating income at $80.6 million, and adjusted EBITDA at $86.2 million, representing a margin of 7.4% [3][4] - The company generated net cash from operating activities of $223.1 million in Q4, with adjusted net cash provided by operating activities increasing 122% year-over-year to $168.2 million [3][4] - For the full year, V2X reported an operating income of $159.2 million and adjusted EBITDA of $310.2 million, with a margin of 7.2% [4][9] Debt and Cash Management - V2X reduced its net debt by $210 million year-over-year, ending Q4 2024 with a net debt of $874 million and a net leverage ratio of 2.6x, improving by 0.7x from the previous year [3][4][9] - The company emphasized its commitment to cash generation and debt reduction as key priorities for financial health [3][4] Future Outlook - For 2025, V2X set guidance with a mid-point revenue target of $4.44 billion and adjusted EBITDA of $313 million, anticipating stronger performance in the second half of the year [5][9] - The company expects approximately 4% of revenue to come from recompetes, indicating a strategic focus on maintaining and expanding its market position [5][9] Revenue Breakdown - In 2024, V2X's revenue by customer included $1.84 billion from the Army, $1.44 billion from the Navy, and $481 million from the Air Force, showcasing a diversified customer base [27][30] - Revenue by contract type showed $2.53 billion from cost-plus and cost-reimbursable contracts, and $1.68 billion from firm-fixed-price contracts, indicating a balanced approach to contract types [28][30] - Geographically, the U.S. accounted for $2.39 billion of total revenue, followed by the Middle East at $1.40 billion, highlighting the company's international reach [30]

Core Insights - V2X Inc. has secured a $21 million contract to maintain critical avionics and electronic warfare systems for the U.S. Air Force, specifically for the B-52, B-1B, and C-130 aircraft [1][4] - The contract emphasizes the importance of V2X's role in enhancing the operational effectiveness of legacy aircraft through advanced electronic warfare capabilities [2][3] Contract Details - The contract is a firm-fixed-price agreement aimed at the repair and maintenance of AN/ALQ-172 and AN/ALQ-161 components [1] - Work will be conducted at Robins Air Force Base in Georgia and Indianapolis, Indiana, with an expected completion date in 2029 [4] Electronic Warfare Capabilities - The AN/ALQ-172 system provides multi-threat countermeasures against various radar threats, while the AN/ALQ-161 system has been upgraded to counter evolving electronic threats since its initial deployment in the 1980s [2] - V2X's expertise in sustaining and enhancing these systems is crucial for extending the lifespan and effectiveness of legacy aircraft [3] Company Mission and Vision - V2X aims to enhance legacy systems with cost-effective, technology-driven solutions while ensuring the safety of aircrews in a changing threat landscape [4] - The company integrates AI and machine learning capabilities to address challenges across national security, defense, and civilian markets [5]

Core Viewpoint - The market anticipates a year-over-year decline in earnings for V2X despite higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - V2X is expected to report earnings of $1.14 per share, reflecting a year-over-year decrease of 6.6%, while revenues are projected to be $1.09 billion, an increase of 4.7% from the previous year [3]. - The earnings report is scheduled for February 24, 2025, and could influence stock movement based on whether results exceed or fall short of expectations [2]. Estimate Revisions - The consensus EPS estimate for V2X has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. - The Most Accurate Estimate for V2X is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +4.85%, suggesting a bullish outlook from analysts [10]. Earnings Surprise Prediction - A positive Earnings ESP reading is a strong indicator of potential earnings beats, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. - V2X currently holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, V2X exceeded the expected earnings of $1.07 per share by delivering $1.29, resulting in a surprise of +20.56% [12]. - Over the past four quarters, V2X has surpassed consensus EPS estimates three times [13]. Industry Comparison - Another player in the technology services industry, Block (XYZ), is expected to report earnings of $0.83 per share, marking a year-over-year increase of 84.4%, with revenues projected at $6.23 billion, up 8% [17]. - Block's consensus EPS estimate has been revised 1.3% lower in the last 30 days, but a higher Most Accurate Estimate has led to an Earnings ESP of 4.24%, suggesting a likely earnings beat [18].

Core Insights - V2X Inc. has secured a position on the GSA's OASIS+ contract across all eight domains, reinforcing its status as a leading provider of integrated mission solutions for the U.S. Government [1][2] - The OASIS+ contract is designed to enhance procurement efficiency and transparency, allowing federal agencies to access high-quality professional services with increased flexibility [1][2] - V2X is one of only 10 companies awarded across all OASIS+ domains, highlighting its extensive capabilities in supporting complex government missions [2][3] Company Overview - V2X specializes in integrating physical and digital environments, focusing on enhancing readiness, optimizing resource management, and improving security [4] - The company employs approximately 16,000 professionals globally and leverages AI and machine learning to address contemporary challenges across various operational domains [4] Service Areas - V2X provides a comprehensive suite of services, including: - Technical and Engineering - Research and Development - Intelligence Services - Environmental Services - Facilities Management - Logistics - Management and Advisory Services - Enterprise Solutions [6]

Group 1 - The article discusses the performance of V2X (NYSE: VVX) stock, which has declined approximately 3% since a buy rating was reiterated in August [1] - The investing group, The Aerospace Forum, aims to identify investment opportunities in the aerospace, defense, and airline sectors, leveraging data analytics for informed analysis [1] - The analyst, with a background in aerospace engineering, provides context to industry developments and their potential impact on investment strategies [1] Group 2 - The article emphasizes the importance of data-informed analysis in driving investment ideas within the aerospace and defense industry [1]

Company Overview - V2X, Inc. is a leading provider of global mission solutions, focusing on integrating physical and digital environments to enhance mission readiness and security [4] - The company employs approximately 16,000 professionals and leverages AI and machine learning to address challenges across various operational domains [4] Financial Results Announcement - V2X will report its fourth quarter and full year 2024 financial results on February 24, 2025, after market close [1] - A conference call with senior management will take place at 4:30 p.m. ET on the same day [1] Conference Call Details - U.S.-based participants can join the conference call by dialing 877-300-8521, while international participants can call 412-317-6026 [2] - A live webcast and accompanying slide presentation will be available on the V2X website [2] Replay Information - A replay of the conference call will be accessible on the V2X website for one year following the call [3] - Telephonic replay will be available until March 10, 2025, with specific numbers for domestic and international callers [3]

RESTON, Va., Jan. 13, 2025 /PRNewswire/ -- V2X, Inc. (NYSE: VVX) has named L. Roger Mason as Chief Growth Officer, effective January 13, 2025. In this role, Mason will be responsible for driving the company's growth strategy, identifying new market opportunities, and enhancing business development efforts. He joins the executive team and reports directly to President and Chief Executive Officer, Jeremy C. Wensinger. Mason joins V2X from Parsons Corporation, where he served as a senior vice president, advisi ...