Leidos Holdings, Inc. · NYSE:LDOS
Leidos — Q1 2025 Earnings Presentation
14 slides from Leidos's earnings presentation, May 6, 2025
Slide 1: Leidos Q1 FY25 Earnings Conference Call
Leidos Q1 FY25 Earnings Conference Call MAY 6, 2025
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements in this release contain or are based on "forward- increased preference by the U.S. government for minority-owned, our ability to comply with the U.S. Foreign Corrupt Practices Act, the looking" information within the meaning of the Private Securities sma
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES This presentation includes certain non-GAAP financial measures, Leidos does not provide a reconciliation of forward-looking such as organic growth, non-GAAP operating income, non-GAAP adjusted EBITDA margins or non-GAAP diluted EPS to GAAP net operating margin, non-GAAP e
Slide 4: CEO Assessment and Outlook
CEO ASSESSMENT AND OUTLOOK Exceptional Q1 performance builds on momentum from 2024 – Organic revenue growth of 7% – Realizing value for customers through smarter – Standout adjusted EBITDA margin of 14.2% and more efficient outcomes – Non-GAAP Diluted EPS up 30% YoY – Leveraging technology investmen
Slide 5: LEIDOS Leidos Q1 2025 Earnings Conference Call
LEIDOS Leidos Q1 2025 Earnings Conference Call 5
Slide 6: Executing NorthStar 2030
EXECUTING NORTHSTAR 2030 Capital Allocation underscores conviction in strategy – $500M Accelerated Share Repurchase – Pending Cyber Acquisition Cyber is core to Leidos — long-time "Golden Bolt" and now Growth Pillar – Largest cyber operation across federal gov't – Significant investments in cyber wi
Slide 7: Q1 FY25 Results: Income Statement
Q1 FY25 RESULTS: INCOME STATEMENT Revenues Adjusted EBITDA Margin Non-GAAP Diluted EPS $4,245M 14.2% $2.97 $3,975M 12.3% $2.29 +6.8% +190 bps +29.7% Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 LEIDOS Leidos Q1 2025 Earnings Conference Call 7
Slide 8: Q1 FY25 Results: Segment View
Q1 FY25 RESULTS: SEGMENT VIEW National Security & Digital Health & Civil Commercial & International Defense Systems $1,878M $1,793M Revenue $1,291M $1,199M +4.7% +7.7% +11.6% +7.2% $509M $568M $508M $474M Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 23.6% Non-GAAP OI % 19.0% no ch
Slide 9: Q1 FY25 Results: Cash Flow / Balance Sheet
Q1 FY25 RESULTS: CASH FLOW / BALANCE SHEET - Operating cash flow $58M Robust EBITDA and solid Cash Flow Generation collections performance - Non-GAAP free cash flow $36M - DSO of 62 in-line w/ prior year Executed a $500M accelerated - Total return to shareholders $581M share repurchase and signed -
Slide 10: 2025 Guidance
2025 GUIDANCE Reaffirming 2025 Guidance On All Metrics MEASURE FY25 GUIDANCE Revenues (billions) $16.90 - $17.30 Adjusted EBITDA Margin Mid-High 12% Non-GAAP Diluted EPS $10.35 - $10.75 Cash Flows Provided by Operating Activities (billions) Approximately $1.45 Key Drivers – Strong Q1 performance de-
Slide 11: Appendix: Non-GAAP Reconciliations
APPENDIX Non-GAAP Reconciliations LEIDOS Leidos Q1 2025 Earnings Conference Call 11
Slide 12: Non-GAAP Income Metrics
NON-GAAP INCOME METRICS Three Months Ended April 4, 2025 Three Months Ended March 29, 2024 Acquisition, Acquisition, integration and Amortization integration and Amortization restructuring of acquired Non-GAAP restructuring of acquired Non-GAAP (in millions, except per share amounts) As reported cos
Slide 13: Non-GAAP Segment Operating Income
NON-GAAP SEGMENT OPERATING INCOME Three Months Ended April 4, 2025 Acquisition, integration and Amortization of Non-GAAP Non-GAAP Operating restructuring acquired operating operating (in millions) income (loss) costs(1) intangibles income (loss) margin(2) National Security & Digital $ 185 $ — $ 5 $
Slide 14: Non-GAAP Free Cash Flow
NON-GAAP FREE CASH FLOW Three Months Ended (in millions, except conversion ratio) April 4, 2025 March 29, 2024 (1) Net cash provided by operating activities $ 58 $ 113 Payments for property, equipment and software (22) (17) Non-GAAP free cash flow $ 36 $ 96 Net income attributable to Leidos common s