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

Core Insights - V2X, Inc. reported a record revenue of $1.16 billion for Q4 2024, reflecting an 11$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$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$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$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$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]