Slide 1: First Quarter 2024 Results
First Quarter 2024 Results TRUSTED WHEREVER THE MISSION LEADS May 7, 2024 1
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), and Section 27A of the Securities Act of 1933, as amended (the Securities Act), and the Private Securi
Slide 3: V2X for Everyone
V2X for Everyone Integrity, Professionalism, Respect, Responsibility Leveraging diversity to drive business outcomes. V2X Honoring Veterans in the Community 3
Slide 4: Q1’24 & Recent Highlights
Q1’24 & Recent Highlights • Q1’24 revenue +7% y/y to $1.01B • Middle East growth of 22% and 7% in the Pacific y/y $1.01B Q1’24 Revenue 1 1 • Q1’24 Adjusted EBITDA of $69.1M or 6.8% margin; Adjusted EPS of $0.90, +8% y/y • Ramping Saudi Aviation Support & Training Contract $69.1M • Secured awards val
Slide 5: Operationalizing Next Generation Solutions
Operationalizing Next Generation Solutions V2X CSC2 Solution V2X secured ~$75 million in awards to operationalize and advance next generation threat detection and response to Chemical, Biological, Radiological, & Nuclear (CBRN) hazards — Expanded from a prototype to a sole source award — Includes pr
Slide 6: Expanding Technology on Existing Business
Expanding Technology on Existing Business — Expanding offerings on LOGCAP V through new award to deploy an assured and 5G protected 5G communications solution and smart logistics in the Philippines — Solution is scalable across the INDOPACOM region, providing protected and secure & Smart network inf
Slide 7: Robust Pipeline Supports Future Growth
Robust Pipeline Supports Future Growth Pipeline Composition Based on Market $25B 30% 29% 21% 20% Near-Term Operations & Logistics Aerospace Solutions Training OT&E1 Opportunities $16B 33% 14% 26% 27% NTM to be Submitted $ 9B 25% 55% 12% 8% Bids Submitted $25 billion near-term pipeline supports futur
Slide 8: Q1’24 Financial Results
Q1’24 Financial Results Revenue ($M) Adjusted EBITDA1 ($M) Revenue +7% Growth $1,010.6 $943.5 $69.4 $69.1 Q1'23 Q1'24 Q1'23 Q1'24 Adj. EBITDA 6.8% margin1 Adj. EPS1 Adj. OCF 1,2 ($M) $(23.4) $(83.5) Adj. EPS1 $0.83 $0.90 +8% Growth Q1'23 Q1'24 Q1'23 Q1'24 1 See appendix for reconciliation and defini
Slide 9: Momentum Achieving Leverage Target
Momentum Achieving Leverage Target 4.0x 3.8x 3.5x Net debt reduction of $116M from prior year ≤ 3.0x Net Leverage ratio1,2 of 3.5x improved by 0.3x y/y Cash generation consistent with historical trend Merger Q1'23 Q1'24 2024E Mid-term target of 2.0-3.0x Close net leverage ratio1 Clear Path to Deleve
Slide 10: Backlog Providing Solid Visibility
Backlog Providing Solid Visibility Backlog ($M) $12,559 $11,829 Total backlog up 6% y/y $2,689 $2,603 Solid visibility with 3.0x revenue coverage based on guidance mid-point $9,226 $9,870 Backlog does not include the full value of the foreign military sales award or the F-5 Adversary Aircraft progra
Slide 11: Reaffirming 2024 Guidance
Reaffirming 2024 Guidance 2024 2024 ($M, except per share data) Guidance Mid-Point Revenue $4,100 - $4,200 $4,150 Adjusted EBITDA1 $300 - $315 $308 Adjusted Diluted Earnings Per Share1 $3.85- $4.20 $4.03 Adjusted Net Cash Provided by Operating $145 - $165 $155 Activities1 2024 guidance assumptions i
Slide 12: Appendix
Appendix TRUSTED WHEREVER THE MISSION LEADS 12
Slide 13: Key Performance Indicators and Non-GAAP Measures
Key Performance Indicators and Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, pro forma revenue and adjusted net cash provided by
Slide 14: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K, except per share data) Three Months Ended March 29, 2024 March 31, 2023 Revenue $ 1,010,564 $ 943,460 Net income (loss) $ 1,144 $ (17,480) Plus: Income tax expense (benefit) (20) (5,737) Other expense, net 1,633 - Interest expense, net 27,574 31,744 Loss on e
Slide 15: TRUSTED WHEREVER THE MISSION LEADS
TRUSTED WHEREVER THE MISSION LEADS 15