Slide 1: Q2 FY25 Earnings Conference Call
CACI International Inc Q2 FY25 Earnings Conference Call January 23, 2025 EXPERTISE and TECHNOLOGY for National Security 1 | CACI Proprietary Information EXPERTISE and TECHNOLOGY for National Security
Slide 2: Forward-looking statements
Forward-looking statements There are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that cou
Slide 3: On today's call
On today’s call John Mengucci Jeff MacLauchlan President and Chief Financial Officer Chief Executive Officer and Treasurer 3 | CACI Proprietary Information
Slide 4: Q2 highlights
Exceptional FY24 Performance Q2 highlights Predictable Profitability Efficient Flexible and organic revenue supportive management of opportunistic growth of continued working capital and capital investment capital expenditures deployment 14.5% revenue growth 11.1% EBITDA1 margin $66 million Closed A
Slide 5: Macro environment
Macro environment CACI Revenue by Customer (% of total) • Healthy demand signals and funding streams in our markets • Support for increased spending by the incoming administration and national National Security, ~90% security remains bipartisan • World continues to be a dangerous place • CACI is a n
Slide 6: CACI's strategy is purpose-built for DOGE
CACI’s strategy is purpose-built for DOGE DOGE Objectives What CACI is Already Doing • Leader in using software and investing ahead of • Modernizing software, IT, and networks customer need to deliver capabilities faster, more efficiently, with greater flexibility • Requiring new methods to address
Slide 7: Driving modernization and efficiency
Driving modernization and efficiency Modernizing Enterprise-Scale Applications Network Modernization New Methods for National Security • 3 largest agile software development programs in USG • CACI actively delivering on 7 Net Mod programs • Navy Spectral is NextGen SIGINT/EW/IO weapon system for sur
Slide 8: Hybrid market position
Government Hybrid market position Services Billing hours Commoditization risk Technology flexibility Agility, (open, agnostic) but reactive OEM Primes Lack technology Market breadth Commercial • Discipline and structured processes depth and tenure of OEM Primes Disciplined and Vendor lock/long Faste
Slide 9: Q2 financial summary
Q2 financial summary Strong performance Strong Organic Healthy EBITDA1 Adjusted EPS1 Free Cash Flow1 Revenue growth margin +36% YoY of $66 million 14.5% YoY growth 11.1% EBITDA Higher operating Strong profitability (8.1% organic) margin1 income Working capital Timing of software- Higher interest def
Slide 10: Flexible and opportunistic capital deployment
Flexible and opportunistic capital deployment Internal Capital Returns Strategic M&A Investments to Shareholders Closed the acquisitions of Azure Summit and Applied Insight Strong balance sheet (2.9x pro-forma leverage1) $337 million of original $750 million share repurchase program authorization re
Slide 11: Raising FY25 guidance
Raising FY25 guidance Updated Guidance Prior Guidance Revenue growth of 13% to 16% (7% to 10% organic) – on an underlying basis (excl. non-recurring $200M of no-margin material revenue in 1H FY24) Revenue $8,450 – $8,650 $8,370 – $8,570 (millions) EBITDA margin1 in “low 11% range” Adjusted Depreciat
Slide 12: Positive forward indicators
Positive forward indicators Long-term visibility into our business Trailing 12-months contract awards of $13.4 billion ~95% STRONG TTM Book-to-Bill of 1.7x YTD weighted avg. duration of >5 years Existing Business Performance Backlog of $32 billion, +18% YoY ~3% ~4 years of annualized revenue HIGH Re
Slide 13: Closing
Closing • Strong Q2 results and great 1H FY25 • Raising guidance for FY25; confidence in 3-year financial targets • Executing our strategy; positioned for where the world is going • Success driven by our employees’ talent, innovation, and commitment • Driving long-term growth, increasing free cash f
Slide 14: Appendix
Appendix 14 | CACI Proprietary Information
Slide 15: Definitions of non-GAAP measures
Definitions of non-GAAP measures Adjusted net income and Adjusted diluted EPS are non-GAAP performance measures. We define Adjusted net income and Adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do
Slide 16: Reconciliation of net income to adjusted net income and diluted EPS
Reconciliation of net income to adjusted net income and diluted EPS to adjusted diluted EPS (unaudited) (in thousands, except per share data) Three Months Ended 12/31/2024 12/31/2023 % Change Net income, as reported $ 109,938 $ 83,870 31.1% Intangible amortization expense 32,442 18,426 76.1% Tax eff
Slide 17: Reconciliation of net income to EBITDA
Reconciliation of net income to earnings before interest, taxes, depreciation and amortization (EBITDA) (unaudited) Three Months Ended (in thousands) 12/31/2024 12/31/2023 % Change Net income $ 109,938 $ 83,870 31.1% Plus: Income taxes 27,294 21,916 24.5% Interest income and expense, net 44,066 27,5
Slide 18: Reconciliation of operating cash flow to free cash flow
Reconciliation of net cash provided by operating activities to net cash provided by operating activities excluding MARPA and to free cash flow (unaudited) Three Months Ended (in thousands) 12/31/2024 12/31/2023 Net cash provided by operating activities $ 126,042 $ 71,764 Cash used in (provided by) M