V2X Reports Fourth Quarter 2025 Results

Core Insights - V2X, Inc. reported strong financial results for Q4 and full-year 2025, with revenue of $1.22 billion for Q4, up 5% year-over-year, and full-year revenue of $4.48 billion, up 4% year-over-year [1][2] - The company achieved record adjusted diluted EPS of $1.56 for Q4, a 17% increase year-over-year, and adjusted diluted EPS of $5.24 for the full year, up 21% year-over-year [1][4] - V2X established guidance for 2026, projecting 6% revenue and adjusted EBITDA growth at the mid-point [1] Fourth Quarter Financial Highlights - Cash flow from operations was $209.5 million, with adjusted net cash provided by operating activities increasing 3% year-over-year to $172.4 million [1][3] - Adjusted EBITDA for Q4 was $88.7 million, with a margin of 7.3%, reflecting a 3% increase from the previous year [1][4] - Net income for Q4 was $22.8 million, while adjusted net income rose 16% year-over-year to $49.3 million [1][2] Full-Year Financial Highlights - Full-year net income was $77.9 million, with adjusted net income increasing 20% year-over-year to $166.8 million [1][3] - The company achieved a net debt reduction of $116 million, resulting in a net leverage ratio of 2.2x [1][4] - Total backlog as of December 31, 2025, was $11.1 billion, with a funded backlog of $2.3 billion [1][2] 2026 Guidance - V2X's guidance for 2026 includes projected revenue between $4.675 billion and $4.825 billion, with an adjusted EBITDA range of $335 million to $350 million [1][3] - Adjusted diluted earnings per share is expected to be between $5.50 and $5.90 [1][4] - The company anticipates adjusted net cash provided by operating activities to be between $150 million and $170 million [1][2]