Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results GO TOWARDS TOMORROW go V2X NOTE: The appearance of U.S. Department of Defense (DoW) visual information does not imply or constitute DoW endorsement. GO TOWARDS TOMORROW go V2X
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 Double digit year- Recent awards1 of Submitted >$8B of Strong cash Increasing full year over-year revenue ~$1.0B reflect end- bids incorporating generation and 2026 guidance for growth in Q2 and to-end solutions, AI powered and balance sheet revenue, adj. H1’26, driven by ability to su
Slide 4: Second Quarter Performance Reflects Consistent Execution
Second Quarter Performance Reflects Consistent Execution Q2 2026 H1 2026 REVENUE $1.26B +17% Y/Y REVENUE $2.51B +20% Y/Y NET INCOME $25.5M NET INCOME $44.5M ADJ. NET INCOME1 $51.6M +22% Y/Y ADJ. NET INCOME1 $99.7M +35% Y/Y ADJ. EBITDA1 $89.8M, 7.1% margin ADJ. EBITDA1 $175.4M, 7.0% margin ADJ. DILUT
Slide 5: Growing Customer Demand for Differentiated, End-to-End Capabilities
Growing Customer Demand for Differentiated, End-to-End Capabilities and Disciplined Pursuit of High-Value Opportunities Recent Awards1 Modernization: Awarded multi-year production of carriage equipment that enables next-gen weapons for the strategic TOTAL VALUE OF RECENT bomber fleet AWARDS1 High-qu
Slide 6: Robust Backlog Supports 2026 Confidence
Robust Backlog1 Supports 2026 Confidence Trailing twelve- Total backlog1 of Backlog1 does not BACKLOG1 ($B) month book-to- $12.7B2 reflect the ~$1 bill1 of 1.4x billion in recent $2.5 Funded backlog1 awards3 Total book-to-bill1 of $2.5B; +10% in the quarter of increase from $12 . 7 0.5x Q1’26 $10.2
Slide 7: AI Is Increasing Competitive Differentiation
AI is Increasing Competitive Differentiation Across the Business Established and Expanding AI Capabilities Embedded in Building Blocks for Long-Term Internal AI Capabilities New Contract Pursuits Differentiation Operating three AI platforms across V2X >$8B of margin accretive new bids where Investin
Slide 8: Solid Second Quarter Financial Performance
Solid Second Quarter Financial Performance REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $1,257 $22 $26 $90 $1,078 $82 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 EPS ADJ. DILUTED EPS1 ADJ. OCF1 ($M) $72 $0.81 $1.64 $0.70 $1.33 $58 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 1.SEE APPENDIX FOR RECONCILIATION AND D
Slide 9: H1 2026 Financial Performance Across Key Metrics
H1 2026 Financial Performance Across Key Metrics Demonstrates Momentum Going into H2 REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $2,511 $175 $44 $149 $30 $2,094 H1 '25 H1 '26 H1 '25 H1 '26 H1 '25 H1 '26 EPS ADJ. DILUTED EPS1 ADJ. OCF1 ($M) $50 $1.41 $3.16 $0.96 $2.31 $(60) H1 '25 H1 '26 H1 '25 H1
Slide 10: Strong Cash Flow Profile and Balance Sheet Capacity
Strong Cash Flow Profile and Balance Sheet Capacity Solid operating cash flow and low capex Strengthening balance sheet • Durable high cash flow and low capex business model • Net debt improvement of $71.4M yr/yr • Adjusted Operating Cash1 +23% yr/yr in Q2’26 • Repriced Term Loan B, lowering cost of
Slide 11: Focused Capital Allocation Strategy
Focused Capital Allocation Strategy to Drive Growth and Value Creation Generate strong predictable operating cash flow Operating Cash Generation Drive growth and margin expansion Target ≥100% Adj. Net Income1 Maintain low capex profile, for operating leverage conversion on average targeting ~1% reve
Slide 12: Increasing 2026 Outlook for Revenue, Adj. EBITDA and Adj. EPS
Increasing 2026 Outlook for Revenue, Adj. EBITDA1 and Adj. EPS1 PRIOR 2026 UPDATED 2026 GUIDANCE RANGE GUIDANCE RANGE 2026 Guidance Assumptions Include: ($M, except per share data) REVENUE $4,825 – $4,975 $4,875 – $5,025 • Cash interest expense of ~$67 million and other expense of ~$15 million • Dep
Slide 13: Key Takeaways
Key Takeaways Double digit year- Recent awards1 of Submitted >$8B of Strong cash Increasing full year over-year revenue ~$1.0B reflect end- bids incorporating generation and 2026 guidance for growth in Q2 and to-end solutions, AI powered and balance sheet revenue, adj. H1’26, driven by ability to su
Slide 14: Appendix
GO TOWARDS TOMORROW APPENDIX go V2X GO TOWARDS TOMORROW go V2X 14
Slide 15: Key Performance Indicators and Non-GAAP Measures
Key Performance Indicators and Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including adjusted net income, are not limited to, significant charges or credits, and unusual and infrequent non-operating adjusted diluted earnings per share, adjusted operating income,
Slide 16: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K, except per share data) Three Months Ended Six Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Revenue $ 1,256,643 $ 1,078,330 $ 2,510,771 $ 2,094,253 Net income $ 25,540 $ 22,391 $ 44,465 $ 30,498 Plus: Income tax expense 7,689 7,059 12,283
Slide 17: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures Period Ending ($K) TTM July 3, 2026 ($K, except ratio) July 3, 2026 Net income $ 91,849 Total debt $ $1,086,429 Plus: Cash, cash equivalents and restricted cash $ 214,313 74,423 Interest expense, net Less: Income tax expense 26,282 Restricted cash (4,014) Cash and
Slide 18: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) Three Months Ended Six Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Net cash provided by/(used in) by operating activities 21,551 28,532 (108,360) (66,931) Plus: M&A, integration, and related payments 7,237 7,754 9,442 10,762 MARPA facil
Slide 19: 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