Contractual ChallengesThe target of positive free cash flow in the fiscal year requires an extension of the DHA contract, which now has incremental uncertainty.
Guidance RevisionA negative topline guidance revision stems from the extension of the DHA contract for 2026, which will exclude automated care and behavioral health components due to budget constraints.
Revenue OutlookThe latest earnings report showed a materially weaker than expected topline guide for FY25, coming in nearly 20% below consensus expectations.