Strong Financial Performance
Revenue for the first quarter was $1.02 billion, representing growth driven by a 10% year-over-year increase in the Indo-Pacific region. Adjusted EBITDA was $67 million, and adjusted EPS was $0.98.
Strategic Wins and Contract Extensions
V2X secured several significant contracts including a $62 million contract with the Space Force for the COBRA DANE radar system and a $140 million award to support the Space Force tracking station at Ascension Island. The Army extended several LOGCAP task orders into June 2030.
Liquidity and Capital Structure Improvements
The company enhanced its capital structure by reducing interest expenses and improving credit facility terms. Liquidity remains strong at approximately $650 million.
Reduced Recompete Risk
The percentage of recompetes comprising expected 2025 revenue has been significantly reduced, providing enhanced revenue visibility and allowing focus on new program wins.
Positive Market Trends
There is increased demand for V2X's solutions in foreign military sales and international markets, with growing opportunities in these areas.