Slide 1: Second Quarter 2025 Results
Second Quarter 2025 Results MISSION ENABLEMENT l END-TO-END CAPABILITIES l GLOBAL REACH August 4, 2025 GO TOWARDS TOMORROW #goV2X GO TOWARDS TOMORROW #goV2X
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: Q2'25 & Recent Highlights
Q2’25 & Recent Highlights Financial: • Revenue of $1.08B with strong profitability $1.08B • Net income $22.4M; Adj. net income1 of $42.3M +61% y/y Q2’25 Revenue • Adj. EBITDA1 of $82.4M +14% y/y, 7.6% margin; Adj. EPS1 of $1.33 +59% y/y • Established $100M share repurchase authorization $82.4M • Inc
Slide 4: Highlights of Strategy Execution
Highlights of Strategy Execution Strategic Initiatives: 1. Optimize the Core 2. Growth in Adjacencies 3. Extend Offerings 4. Strategic Investments Optimize the core to Leverage current Extend new offerings and Organic and inorganic strengthen the base, fuel on- differentiated capabilities platforms
Slide 5: Notable Awards & Robust Pipeline
Notable Awards & Robust Pipeline T-6 Aircraft Fleet F-16 Foreign Military Services Support Awarded Contractor Operated and Awarded a new cost-plus-fixed-fee Maintained Base Supply for the Joint undefinitized contract to provide Primary Aircraft Training System support services for the Iraq F-16 flee
Slide 6: Q2'25 Financial Results
Q2’25 Financial Results Revenue ($M) Adj. EBITDA1 ($M) Net Income ($M) $22 $1,072 $1,078 $82 $72 $(7) Q2'24 Q2'25 Q2'24 Q2'25 EPS Adj. EPS1 Adj. OCF 1 ($M) $58 $0.70 $1.33 $0.83 $(54) $(0.21) Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 1 See appendix for reconciliation and definitions of non-GAAP measures G
Slide 7: YTD Q2'25 Financial Results
YTD Q2’25 Financial Results Revenue ($M) Adj. EBITDA1 ($M) Net Income ($M) $30 $2,083 $2,094 $141 $149 $(5) YTD Q2'24 YTD Q2'25 YTD Q2'24 YTD Q2'25 EPS Adj. EPS1 Adj. OCF 1 ($M) $(60) $0.96 $2.31 $(137) $1.72 $(0.17) YTD Q2'24 YTD Q2'25 YTD Q2'24 YTD Q2'25 YTD Q2'24 YTD Q2'25 1 See appendix for reco
Slide 8: Capital Allocation Approach
Capital Allocation Approach Generate Deploy Maintain Adj. Net Income1 Conversion Strategic Acquisitions Net Leverage1 Trajectory Target complementary capabilities, new channels, and solutions that accelerate growth Return Capital Opportunistically repurchase shares 151% 3.6x 2.8x 116% Internal Inves
Slide 9: Raising 2025 Adj. EPS Guidance
Raising 2025 Adj. EPS1 Guidance 2025 Prior 2025 Current ($M, except per share data) Guidance Guidance Revenue $4,375 - $4,500 $4,375 - $4,500 Adjusted EBITDA1 $305 - $320 $305 - $320 Adjusted Earnings Per Share1 $4.45- $4.85 $4.65 - $4.95 Adjusted Net Cash Provided by $150- $170 $150 - $170 Operatin
Slide 10: Appendix
Appendix GO TOWARDS TOMORROW #goV2X GO TOWARDS TOMORROW #goV2X
Slide 11: Key Performance Indicators and Non-GAAP Measures
Key Performance Indicators and Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, pro forma revenue, net leverage ratio, and adjusted
Slide 12: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K, except per share data) Three Months Ended Six Months Ended June 27, 2025 June 28, 2024 June 27, 2025 June 28, 2024 Revenue $ 1,078,330 $ 1,072,183 $ 2,094,253 $ 2,082,747 Net income (loss) $ 22,391 $ (6,544) $ 30,498 $ (5,400) Plus: Income tax expense (benefi
Slide 13: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) TTM June 27, 2025 Net income (loss) $ 70,582 Plus: Interest expense, net 91,836 Income tax expense 14,770 Depreciation and amortization 112,354 Additional permitted add-backs1 45,365 TTM Bank EBITDA $ 334,906 ($K, except ratio) Period Ending June 27, 2025 Tot
Slide 14: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) Three Months Ended Six Months Ended June 27, 2025 June 28, 2024 June 27, 2025 June 28, 2024 Net cash provided (used) by operating activities 28,532 25,675 (66,931) (31,551) Plus: M&A, integration, and related payments 7,754 6,197 10,762 12,035 MARPA facility
Slide 15: GO TOWARDS TOMORROW #goV2X
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