Slide 1: Fourth Quarter & Full-Year 2025 Results
Fourth Quarter & Full-Year 2025 Results GO TOWARDS TOMORROW go V2X GO TOWARDS TOMORROW go V2X NOTE: The appearance of U.S. Department of Defense (DoW) visual information does not imply or constitute DoW endorsement.
Slide 2: Disclaimers
Disclaimers FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), Section 27A of the Securities Act of 1933, as amended (the Securities Act), and the Private Securities
Slide 3: Key Takeaways
Key Takeaways Strong Q4 and FY Continue to capture Leading with Continued focus on Building on 2025 results awards in key innovation to Go cash generation momentum of 2025 underscore growth areas Towards Tomorrow and strong balance achievements, V2X is alignment to well- demonstrating through target
Slide 4: Delivered Strong Q4 and FY 2025 Financial Results
Delivered Strong Q4 and FY 2025 Financial Results Q4 2025 FY 2025 REVENUE $1.22B +5% y/y REVENUE $4.48B +4% y/y NET INCOME $22.8M NET INCOME $77.9M ADJ. NET INCOME1 $49.3M +16% y/y ADJ. NET INCOME1 $166.8M +20% y/y ADJ. EBITDA1 $88.7M, 7.3% margin ADJ. EBITDA1 $323.3M, 7.2% margin ADJ. EPS1 $1.56 +1
Slide 5: Key Awards Demonstrate Progress in Growth Areas
Key Awards Demonstrate Progress in Growth Areas 2025 GROWTH PERFORMANCE Notable Awards in Key Growth Areas HIGHLIGHTS • T-6 Aircraft Services ($4.3 billion): Award re-affirmed and contract services return to execution 2 x $B new contract awards READINESS MISSION • F-16 Modernization and Services (>$
Slide 6: Innovating Today, to Go Towards Tomorrow
Innovating Today, to Go Towards Tomorrow Innovate the Base Targeted Investments Partner with the Best • Elevates all program execution through data • Advanced capabilities investments • High intensity partnerships with best-in-class AI automation and AI / ML innovation focused on high growth, upmark
Slide 7: A Solid Quarter of Growth…
A Solid Quarter of Growth… REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $1,219 $86 $89 $25 $1,158 $23 Q4'24 Q4'25 Q4'24 Q4'25 Q4'24 Q4'25 EPS ADJ. EPS1 ADJ. OCF1 ($M) $0.78 $0.72 $168 $172 $1.33 $1.56 Q4'24 Q4'25 Q4'24 Q4'25 Q4'24 Q4'25 1.SEE APPENDIX FOR RECONCILIATION AND DEFINITIONS OF NON-GAAP
Slide 8: …To Close Out Another Strong Year
…To Close Out Another Strong Year REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $4,322 $4,480 $78 $310 $323 $35 FY'24 FY'25 FY'24 FY'25 FY'24 FY'25 +4% Y/Y EPS ADJ. EPS1 ADJ. OCF 1 ($M) $161 $148 $2.45 $4.34 $5.24 $1.08 FY'24 FY'25 FY'24 FY'25 FY'24 FY'25 +21% Y/Y 1.SEE APPENDIX FOR RECONCILIATION
Slide 9: Balance Sheet Strength Supports Growth Priorities
Balance Sheet Strength Supports Growth Priorities NET LEVERAGE RATIO1 Continued Total capacity Targeting focus on cash of ~$850M acquisitions generation provides and has yielded significant investments positive flexibility for that enhance results capital shareholder deployment returns and accelerat
Slide 10: Robust Backlog with Clear Path to Further Revenue Growth
Robust Backlog1 with Clear Path to Further Revenue Growth BACKLOG1 ($B) Total backlog1 Bookings1 of Trailing Backlog1 not of $11.1B, with $3.8 billion in twelve-month reflective of $2.3B of 2025 book-to-bill1 ~$4 billion T-6 $2.3 funded 0.9x award backlog $11.1B $8.8 FUNDED UNFUNDED 1.SEE "KEY PERFO
Slide 11: 2026 Outlook Underscores Momentum Underway
2026 Outlook Underscores Momentum Underway 2026 Guidance Assumptions Include: 2026 GUIDANCE RANGE MIDPOINT ($M, except per share data) • Cash interest expense ~$69 million and other expense ~ $15 million REVENUE $4,675 - $4,825 $4,750 • Depreciation and amortization ~ $111 million • Amortization of
Slide 12: Key Takeaways
Key Takeaways Strong Q4 and FY Continue to capture Leading with Continued focus on Building on 2025 results awards in key innovation to Go cash generation momentum of 2025 underscore growth areas Towards Tomorrow and strong balance achievements, V2X is alignment to well- demonstrating through target
Slide 13: Appendix
Appendix GO TOWARDS TOMORROW go V2X GO TOWARDS TOMORROW MISSION ENABLEMENT | END-TO-END CAPABILITIES | GLOBAL REACH go V2X
Slide 14: Key Performance Indicators and Non-GAAP Measures
Key Performance Indicators and Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including adjusted net income, • Adjusted net income is defined as net income, adjusted to exclude items that may include, but adjusted diluted earnings per share, adjusted operating inco
Slide 15: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K, except per share data) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Revenue $ 1,218,648 $ 1,157,752 $ 4,480,038 $ 4,322,155 Net income $ 22,779 $ 25,033 $ 77,882 $ 34,684 Plus: Income tax expen
Slide 16: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures TTM Period Ending ($K) ($K, except ratio) December 31, 2025 December 31, 2025 Net income $ 77,882 Total debt $ 1,123,819 Plus: Cash, cash equivalents and restricted cash $ 368,994 Interest expense, net 79,909 Less: Income tax expense 23,021 Restricted cash (3,014)
Slide 17: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net cash provided by operating activities $ 209,476 $ 223,134 $ 181,992 $ 254,237 Plus: M&A, integration, and related payments 839 17,490 12,899 42,
Slide 18: Go Towards Tomorrow
G O T O W A R D S T O M O R R O W g o V 2 X GO TOWARDS TOMORROW go V2X