V2X Delivers Solid Third Quarter Results with Record Revenue

Rhea-AI Summary

V2X (NYSE:VVX) reported Q3 2025 revenue of $1.17 billion, up 8% year‑over‑year, net income of $24.6 million and adjusted net income of $43.7 million. Adjusted EBITDA was $85.2 million with a margin of 7.3%. GAAP diluted EPS was $0.77; adjusted diluted EPS was $1.37, up 6% year‑over‑year.

The company repurchased $10 million of shares, completed a strategic acquisition of a specialized intelligence business, and won new awards including a $425 million IDIQ contract to modernize F‑16 cockpit displays. V2X raised the midpoints of 2025 revenue, adjusted EBITDA, and adjusted diluted EPS guidance while lowering the midpoint for adjusted net cash provided by operating activities to reflect potential timing delays from a government shutdown.

Positive

• Net income +63% YoY to $24.6 million
• Adjusted EBITDA of $85.2 million; margin 7.3%
• Raised 2025 guidance midpoints for revenue, adjusted EBITDA, EPS
• Awarded $425 million IDIQ contract for F‑16 cockpit modernizations
• Closed acquisition adding specialized intelligence capabilities

Negative

• Lowered midpoint for adjusted net cash provided by operating activities
• Potential temporary collection delays from government shutdown

Insights

Corporate Finance Analyst

Record revenue, modest margin expansion, guidance nudged higher; cash‑flow midpoint lowered for timing risk.

V2X delivered record quarterly revenue of $1.17 billion, net income of $24.6 million and adjusted EBITDA of $85.2 million with a margin of 7.3%. Adjusted diluted EPS rose to $1.37, up 6% year‑over‑year; the company repurchased $10 million of shares and closed a strategic acquisition to expand its intelligence offerings.

Operational strength appears driven by awarded contracts, including a $425 million IDIQ for F‑16 cockpit upgrades and a Tempest counter‑UAS award that supports near‑term revenue. Key risks center on collections timing due to a government shutdown; management explicitly lowered the midpoint of adjusted operating cash flow to $150 million to reflect potential short‑term delays while maintaining higher midpoints for revenue, adjusted EBITDA, and adjusted diluted EPS.

Items to watch over the next 3–12 months: execution on the $425 million IDIQ and Tempest deliveries, integration progress and revenue contribution from the completed acquisition, cash collection trends given the government shutdown timing, and commentary from the conference call on Nov 3, 2025 and subsequent quarterly updates.

Third Quarter and Recent Highlights

• Record revenue of $1.17 billion, up 8% y/y
• Net income of $24.6 million; Adjusted net income¹ of $43.7 million, up 6% y/y
• Adjusted EBITDA¹ of $85.2 million, with a margin of 7.3%
• Diluted EPS of $0.77; Adjusted diluted EPS¹ of $1.37, up 6% y/y
• Repurchased $10 million of shares in the quarter
• Closed acquisition of specialized intelligence business, increasing addressable market

Guidance

• Raising mid-point for revenue, adjusted EBITDA¹, and adjusted diluted EPS¹; lowering adjusted operating cash flow¹

RESTON, Va., Nov. 3, 2025 /PRNewswire/ -- V2X, Inc. (NYSE:VVX) announced third quarter 2025 financial results. "Our third quarter results demonstrate our continued focus on operational and strategic execution," said Jeremy C. Wensinger, President and Chief Executive Officer. "The trends in our business remain positive and are being driven by continued demand for mission readiness solutions."

Mr. Wensinger continued, "Our differentiated capabilities and alignment to customer priorities were proven firsthand through several new awards during the quarter. This includes an award to deliver counter-UAS capabilities via our Tempest platform. Tempest is a rugged, commercially based combat vehicle engineered to detect, engage, and defeat various UAS. The platform, which went from idea to fielding in a matter of months, illustrates our unique ability to deliver rapid prototyping solutions that improve mission success on the modern battlefield. We were also awarded a $425 million indefinite-delivery, indefinite-quantity contract to modernize and upgrade F-16 cockpit displays for the U.S. Air Force. This is a great example of how smart modernization can deliver immediate mission enhancement at significantly lower cost than full replacement." 

Mr. Wensinger concluded, "Our results and awards demonstrate the value that V2X brings to our customers. We are further building on that value and during the quarter completed a strategic acquisition that brings new capabilities and access to new opportunities in the intelligence community.  We are also accelerating our innovation strategy through new partnerships with top tier technology providers in the areas of AI and smart readiness. This is representative of how we are executing our strategy and advancing V2X to be a leader in data-enabled mission solutions across all domains." 

____________________

1 See "Key Performance Indicators and Non-GAAP Financial Measures" for descriptions and reconciliations.

Third Quarter 2025 Results

"Revenue grew 8% year-over-year in the third quarter to $1.17 billion," said Shawn Mural, Senior Vice President and Chief Financial Officer. "The performance in the third quarter reflects both continued demand for our solutions and our focus on execution. I'm proud of what our team has achieved thus far in 2025 and believe it positions us well as we look ahead."

"For the quarter, the Company reported operating income of $55.7 million, an increase of $5.8 million or 12% from the prior year. Adjusted operating income¹ was $79.6 million, an increase of $2.7 million dollars or 4% from the prior year. V2X delivered adjusted EBITDA¹ of $85.2 million, with a margin of 7.3%. Net income for the quarter was $24.6 million, an increase of $9.6 million or 63% from the prior year. Adjusted net income¹ was $43.7 million, an increase of $2.4 million dollars or 6% year-over-year. Third quarter GAAP diluted EPS was $0.77. Adjusted diluted EPS¹ for the quarter was $1.37, an increase of 6% year-over-year."

"Third quarter net cash provided by operating activities was $39.4 million. Adjusted net cash provided by operating activities¹ was $35.8 million."

Mr. Mural continued, "Last quarter we outlined the key components of our capital allocation strategy, which focused on accelerating value creation. I'm pleased to report that during the third quarter we put that strategy into action by repurchasing $10 million of shares and completing a strategic acquisition. These were great first steps in our capital deployment journey, which we believe will yield strong returns for shareholders."

2025 Guidance

Mr. Mural concluded, "Given our performance to date and the trends in our business we're increasing the midpoint of our revenue, adjusted EBITDA¹, and adjusted diluted EPS¹ guidance. Although we have not seen a material impact from the government shutdown to date, we are proactively lowering the midpoint of adjusted net cash provided by operating activites¹ to account for potential temporary delays in collections. I want to emphasize this is merely timing related and not indicative of a change in our underlying business."

Guidance is as follows:

$ millions, except for per share amounts	Prior 2025 Guidance		Updated 2025 Guidance
Revenue	$4,375	$4,500	$4,425	$4,500
Adjusted EBITDA1	$305	$320	$312	$320
Adjusted Diluted Earnings Per Share1	$4.65	$4.95	$4.85	$5.05
Adjusted Net Cash Provided by Operating Activities1	$150	$170	$120	$150

The Company is not providing a quantitative reconciliation with respect to the foregoing forward-looking non-GAAP measures in reliance on the "unreasonable efforts" exception set forth in the SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. For example, unusual, one-time, non-ordinary, or non-recurring costs, which relate to mergers and acquisitions ("M&A"), integration and related activities cannot be reasonably estimated. Forward-looking statements are based upon current expectations and are subject to factors that could cause actual results to differ materially from those suggested here, including those factors set forth in the Safe Harbor Statement below. 

Third Quarter Conference Call

Management will conduct a conference call with analysts and investors at 4:30 p.m. ET on Monday, November 3, 2025. U.S.-based participants may dial in to the conference call at 877-300-8521, while international participants may dial 412-317-6026. A live webcast of the conference call as well as an accompanying slide presentation will be available here: https://app.webinar.net/80dR21K5Yr9.

A replay of the conference call will be posted on the V2X website shortly after completion of the call and will be available for one year. A telephonic replay will also be available through November 17, 2025, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10202916.   

Presentation slides that will be used in conjunction with the conference call will also be made available online in advance on the "investors" section of the Company's website at https://gov2x.com. V2X recognizes its website as a key channel of distribution to reach public investors and as a means of disclosing material non-public information to comply with its obligations under the U.S. Securities and Exchange Commission ("SEC") Regulation FD.

About V2X

V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.

Investor Contact	Media Contact
Mike Smith, CFA	Angelica Spanos Deoudes
IR@goV2X.com	Communications@goV2X.com
719-637-5773	571-338-5195

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the "Act"): Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Act.

Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "could," "potential," "continue" or similar terminology. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management. Forward-looking statements in this press release, include, but are not limited to our future performance and capabilities; all of the statements and items listed under "2025 Guidance" above and other assumptions contained therein for purposes of such guidance; our belief that prior performance provides substantial visibility for future performance; market trends; product development; capital deployment; statements about the benefits and expectations with respect to the strategic acquisition;  and our belief that our innovation strategy, visibility, and targeted growth opportunities provide substantial opportunities for value creation.

These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside our management's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.  In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company's historical experience and our present expectations or projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC.

We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

V2X, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
		Three Months Ended				Nine Months Ended
		September 26,		September 27,		September 26,		September 27,
(In thousands, except per share data)		2025		2024		2025		2024
Revenue		$     1,167,137		$     1,081,656		$     3,261,390		$     3,164,403
Cost of revenue		1,072,632		990,220		2,993,049		2,928,858
Selling, general, and administrative expenses		38,836		41,549		125,434		127,901
Operating income		55,669		49,887		142,907		107,644
Loss on extinguishment of debt		—		—		(2,527)		(1,998)
Interest expense, net		(19,961)		(27,152)		(60,278)		(83,533)
Other expense, net		(2,962)		(3,198)		(7,836)		(9,566)
Income from operations before income taxes		32,746		19,537		72,266		12,547
Income tax expense		8,141		4,486		17,163		2,896
Net income		$          24,605		$          15,051		$          55,103		$            9,651
Earnings per share
Basic		$              0.78		$              0.48		$              1.74		$              0.31
Diluted		$              0.77		$              0.47		$              1.73		$              0.30
Weighted average common shares outstanding - basic		31,617		31,550		31,634		31,458
Weighted average common shares outstanding - diluted		31,856		31,973		31,881		31,921

 

V2X, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
		September 26,		December 31,
(In thousands, except per share data)		2025		2024
Assets
Current assets
Cash, cash equivalents and restricted cash		$        182,318		$        268,321
Receivables		773,287		710,068
Prepaid expenses and other current assets		143,022		124,081
Total current assets		1,098,627		1,102,470
Property, plant, and equipment, net		57,597		62,001
Goodwill		1,676,926		1,656,926
Intangible assets, net		262,825		323,068
Right-of-use assets		38,202		37,774
Other non-current assets		43,633		46,604
Total non-current assets		2,079,183		2,126,373
Total Assets		$     3,177,810		$     3,228,843
Liabilities and Shareholders' Equity
Current liabilities
Accounts payable		$        487,176		$        547,568
Compensation and other employee benefits		156,858		166,918
Short-term debt		14,935		20,003
Other accrued liabilities		255,295		261,735
Total current liabilities		914,264		996,224
Long-term debt, net		1,089,307		1,087,484
Deferred tax liabilities		12,500		20,983
Operating lease liabilities		33,163		33,811
Other non-current liabilities		48,928		64,189
Total non-current liabilities		1,183,898		1,206,467
Total liabilities		2,098,162		2,202,691
Commitments and contingencies (Note 7)
Shareholders' Equity
Preferred stock; $0.01 par value; 10,000,000 shares authorized; No shares issued and outstanding		—		—
Common stock; $0.01 par value; 100,000,000 shares authorized; 31,731,719 and 31,560,490 shares issued as of September 26, 2025 and December 31, 2024, respectively		317		316
Treasury stock, at cost - 200,000 and no shares as of September 26, 2025 and December 31, 2024, respectively		(10,056)		—
Additional paid in capital		776,415		769,719
Retained earnings		320,638		265,535
Accumulated other comprehensive loss		(7,666)		(9,418)
Total shareholders' equity		1,079,648		1,026,152
Total Liabilities and Shareholders' Equity		$     3,177,810		$     3,228,843

 

V2X, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
		Nine Months Ended
		September 26,		September 27,
(In thousands)		2025		2024
Operating activities
Net income		$          55,103		$            9,651
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation expense		12,468		16,442
Amortization of intangible assets		67,726		68,252
Amortization of cloud computing arrangements		3,676		2,073
Impairment of non-operating long-lived asset		—		2,192
Loss on disposal of property, plant, and equipment		826		1,170
Stock-based compensation		9,121		12,874
Deferred taxes		(9,077)		72
Amortization of debt issuance costs		4,588		5,717
Loss on extinguishment of debt		2,527		1,998
Changes in assets and liabilities:
Receivables		(58,473)		(25,614)
Other assets		(15,473)		(70,827)
Accounts payable		(63,230)		66,101
Compensation and other employee benefits		(10,583)		(42,417)
Other liabilities		(26,683)		(16,581)
Net cash (used in) provided by operating activities		(27,484)		31,103
Investing activities
Purchases of capital assets		(9,660)		(10,700)
Proceeds from the disposition of assets		2,285		14
Acquisitions of businesses		(27,500)		(16,939)
Net cash used in investing activities		(34,875)		(27,625)
Financing activities
Repayments of long-term debt		(7,546)		(7,669)
Proceeds from revolver		459,000		1,009,250
Repayments of revolver		(459,000)		(1,009,250)
Proceeds from stock awards and stock options		558		154
Purchase of treasury stock		(10,000)		—
Payment of debt issuance costs		(3,909)		(1,188)
Payments of employee withholding taxes on stock-based compensation		(2,982)		(8,036)
Net cash used in financing activities		(23,879)		(16,739)
Exchange rate effect on cash		235		467
Net change in cash, cash equivalents and restricted cash		(86,003)		(12,794)
Cash, cash equivalents and restricted cash - beginning of period		268,321		72,651
Cash, cash equivalents and restricted cash - end of period		$        182,318		$          59,857
Supplemental disclosure of cash flow information:
Interest paid		$          52,587		$          74,774
Income taxes paid		$            6,435		$            9,167
Purchase of capital assets on account		$               768		$                90
Purchase of treasury stock on account		$                56		$                 —

Key Performance Indicators and Non-GAAP Measures

The primary financial performance measures we use to manage our business and monitor results of operations are revenue trends and operating income trends. Management believes that these financial performance measures are the primary drivers for our earnings and net cash from operating activities. Management evaluates its contracts and business performance by focusing on revenue, and operating income. Operating income represents revenue less both cost of revenue and selling, general and administrative (SG&A) expenses. Cost of revenue consists of labor, subcontracting costs, materials, and an allocation of indirect costs. SG&A expenses consist of indirect labor costs (including wages and salaries for executives and administrative personnel), bid and proposal expenses and other general and administrative expenses not allocated to cost of revenue. Backlog is the estimated amount of future revenues to be recognized under negotiated contracts.

We manage the nature and amount of costs at the program level, which forms the basis for estimating our total costs and profitability. This is consistent with our approach for managing our business, which begins with management's assessing the bidding opportunity for each contract and then managing contract profitability throughout the performance period.

In addition to the key performance measures discussed above, we consider adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio and adjusted operating cash flow to be useful to management and investors in evaluating our operating performance, and to provide a tool for evaluating our ongoing operations. This information can assist investors in assessing our financial performance and measures our ability to generate capital for deployment among competing strategic alternatives and initiatives. We provide this information to our investors in our earnings releases, presentations, and other disclosures.

Adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio, and adjusted net cash provided by (used in) operating activities, however, are not measures of financial performance under GAAP and should not be considered a substitute for financial measures determined in accordance with GAAP.  Definitions and reconciliations of these items are provided below.

• Adjusted operating income is defined as operating income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration, and related costs.
• Adjusted EBITDA is defined as operating income, adjusted to exclude depreciation and amortization of intangible assets, and items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration, and related costs.
• Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue.
• Adjusted net income is defined as net income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration and related costs, amortization of acquired intangible assets, amortization of debt issuance costs, and loss on extinguishment of debt.
• Adjusted diluted earnings per share is defined as adjusted net income divided by the weighted average diluted common shares outstanding.
• Cash interest expense, net is defined as interest expense, net adjusted to exclude amortization of debt issuance costs.
• Adjusted net cash provided by ( used in) operating activities or adjusted operating cash flow is defined as net cash provided by (or used in) operating activities adjusted to exclude infrequent non-operating items, such as M&A payments and related costs.

Non-GAAP Tables
($K, except per share data)	Three Months Ended				Nine Months Ended
	September 26, 2025		September 27, 2024		September 26, 2025		September 27, 2024
Revenue	$       1,167,137		$     1,081,656		$       3,261,390		$    3,164,403
Net income	$         24,605		$           15,051		$            55,103		$            9,651
Plus:
Income tax expense	8,141		4,486		17,163		2,896
Other expense, net	2,962		3,198		7,836		9,566
Interest expense, net	19,961		27,152		60,278		83,533
Loss on extinguishment of debt	—		—		2,527		1,998
Operating income	$         55,669		$         49,887		$         142,907		$      107,644
Plus:
Amortization of intangible assets	22,601		22,727		67,726		68,252
M&A, integration and related costs	1,370		4,319		7,775		29,644
Adjusted operating income	$        79,640		$         76,933		$         218,407		$      205,540
Plus:
Depreciation and CCA amortization	5,517		5,759		16,144		18,515
Adjusted EBITDA	$          85,156		$         82,692		$         234,552		$      224,055
Adjusted EBITDA margin	7.3 %		7.6 %		7.2 %		7.1 %
Minus:
Cash interest expense, net	18,405		25,598		55,690		77,816
Income tax expense, as adjusted	14,620		6,887		37,169		24,187
Depreciation and CCA amortization	5,517		5,759		16,144		18,515
Other expense, net, as adjusted	2,962		3,198		8,086		7,373
Adjusted net income	$        43,653		$         41,250		$          117,463		$          96,163
($K, except per share data)	Three Months Ended				Nine Months Ended
	September 26, 2025		September 27, 2024		September 26, 2025		September 27, 2024
Diluted earnings per share	$            0.77		$            0.47		$                1.73		$             0.30
Plus:
M&A, integration and related costs	0.03		0.14		0.18		0.75
Amortization of intangible assets	0.53		0.63		1.61		1.72
Amortization of debt issuance costs and Loss on extinguishment of debt	0.04		0.05		0.17		0.19
FMV land impairment	$                —		0.00		$                  —		0.06
Gain on acquisition, net	0.00		$                —		$             (0.01)		$                —
Adjusted diluted earnings per share	$             1.37		$             1.29		$              3.68		$             3.01
Average shares outstanding:
Basic, as reported	31,617		31,550		31,634		31,458
Diluted, as reported	31,856		31,973		31,881		31,921
Adjusted diluted	31,856		31,973		31,881		31,921

 

Non-GAAP Tables
($K)	Three Months Ended				Nine Months Ended
	September 26, 2025		September 27, 2024		September 26, 2025		September 27, 2024
Net cash provided (used) by operating activities	39,448		62,654		(27,484)		31,103
Plus:
M&A, integration, and related payments	1,298		13,009		12,060		25,044
MARPA facility activity	(4,991)		54,471		(8,641)		(63,348)
Adjusted operating cash flow	35,755		130,134		(24,064)		(7,201)

SUPPLEMENTAL INFORMATION

Revenue by customer, contract type, contract relationship, and geographic region for the periods presented below was as follows: 

Revenue by Customer
		Three Months Ended						Nine Months Ended
		September 26,		September 27,		%		September 26,		September 27,		%
(In thousands)		2025		2024		Change		2025		2024		Change
Army		$        449,031		$        455,877		(1.5) %		$     1,348,610		$     1,345,997		0.2 %
Navy		390,542		366,217		6.6 %		1,090,936		1,037,425		5.2 %
Air Force		167,571		121,863		37.5 %		374,519		367,899		1.8 %
Other		159,993		137,699		16.2 %		447,325		413,082		8.3 %
Total revenue		$     1,167,137		$     1,081,656				$     3,261,390		$     3,164,403

 

Revenue by Contract Type
		Three Months Ended						Nine Months Ended
		September 26,		September 27,		%		September 26,		September 27,		%
(In thousands)		2025		2024		Change		2025		2024		Change
Cost-plus and cost-reimbursable		$        702,557		$        649,925		8.1 %		$     1,973,210		$     1,850,584		6.6 %
Firm-fixed-price		436,528		403,132		8.3 %		1,205,705		1,229,565		(1.9) %
Time-and-materials		28,052		28,599		(1.9) %		82,475		84,254		(2.1) %
Total revenue		$     1,167,137		$     1,081,656				$     3,261,390		$     3,164,403

 

Revenue by Contract Relationship
		Three Months Ended						Nine Months Ended
		September 26,		September 27,		%		September 26,		September 27,		%
(In thousands)		2025		2024		Change		2025		2024		Change
Prime contractor		$     1,109,660		$     1,021,497		8.6 %		$     3,081,746		$     2,972,773		3.7 %
Subcontractor		57,477		60,159		(4.5) %		179,644		191,630		(6.3) %
Total revenue		$     1,167,137		$     1,081,656				$     3,261,390		$     3,164,403

 

Revenue by Geographic Region
		Three Months Ended						Nine Months Ended
		September 26,		September 27,		%		September 26,		September 27,		%
(In thousands)		2025		2024		Change		2025		2024		Change
United States		$        684,659		$        604,872		13.2 %		$     1,894,474		$     1,728,480		9.6 %
Middle East		344,605		346,527		(0.6) %		983,267		1,050,888		(6.4) %
Asia		81,417		82,907		(1.8) %		234,188		236,371		(0.9) %
Europe		56,456		47,350		19.2 %		149,461		148,664		0.5 %
Total revenue		$     1,167,137		$     1,081,656				$     3,261,390		$     3,164,403

 

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SOURCE V2X, Inc.

FAQ

What were V2X (VVX) Q3 2025 revenue and net income figures?

V2X reported Q3 2025 revenue of $1.17 billion and net income of $24.6 million.

How did V2X (VVX) report adjusted EBITDA and margin for Q3 2025?

Adjusted EBITDA was $85.2 million with an adjusted EBITDA margin of 7.3%.

What guidance changes did V2X (VVX) announce on Nov 3, 2025 for 2025?

The company raised midpoints for 2025 revenue, adjusted EBITDA, and adjusted diluted EPS and lowered the midpoint for adjusted net cash provided by operating activities.

What notable contract awards did V2X (VVX) disclose in Q3 2025?

V2X disclosed a $425 million IDIQ award to modernize F‑16 cockpit displays and other mission awards including counter‑UAS work for the Tempest platform.

Did V2X (VVX) complete any M&A or capital actions in Q3 2025?

Yes; V2X repurchased $10 million of shares and completed a strategic acquisition of a specialized intelligence business during the quarter.

Why did V2X (VVX) lower adjusted operating cash flow guidance for 2025?

Management said it lowered the midpoint to account for potential temporary delays in collections related to the government shutdown, calling it timing related.