Every 10-Q that DLH Holdings Corp. (DLHC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DLHC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DLHC filings page.
DLH Holdings Corp. reported revenue of $44,225 thousand and a net loss of $16,787 thousand for the quarter ended June 30, 2026, versus $83,343 thousand of revenue and $289 thousand of net income a year earlier. Year-to-date, revenue was $172,383 thousand with a net loss of $20,646 thousand, compared with $263,337 thousand of revenue and $2,281 thousand of net income in 2025.
Management attributes the decline mainly to contracts transitioning to small-business prime contractors across the customer base, including VA CMOP work, where revenue fell to $6,300 thousand from $27,000 thousand for the quarter. Results also reflect a noncash $10.4 million valuation allowance against deferred tax assets, contributing to an effective tax rate of (139.4)%.
Backlog was $408.5 million, with funded backlog of $66.7 million, compared with $514.3 million and $114.1 million at September 30, 2025. Total debt obligations were $128,749 thousand, including a $115,000 thousand secured term loan and $13,749 thousand on a $50,000 thousand revolver; cash was $235 thousand and unused revolver capacity $5.0 million. For the nine months, non-GAAP EBITDA was $10,050 thousand and Adjusted EBITDA $15,224 thousand. The company remained in compliance with credit covenants, and a goodwill review concluded fair value exceeded carrying value.
DLH Holdings Corp. reported weaker results for the quarter ended March 31, 2026 as revenue fell and the company swung to a loss. Quarterly revenue dropped to $59.3 million from $89.2 million, mainly because several large federal contracts, including Veterans Affairs pharmacy work, shifted to small-business primes.
The company posted a net loss of $2.5 million, or $(0.17) per share, compared with net income of $0.9 million a year earlier. Operating income turned slightly negative, and margins compressed as general and administrative costs became a larger share of sales despite cost-cutting initiatives.
For the first six months, revenue was $128.2 million and the net loss was $3.9 million. DLH still carries a sizable debt load, with $122.0 million outstanding on its term loan and $10.7 million drawn on its revolver, but it remained in compliance with loan covenants and generated roughly break-even operating cash flow.
Backlog declined to about $442.4 million from $514.3 million, reflecting the contract transitions. Management also conducted a detailed goodwill review after a drop in the share price and concluded that goodwill was not impaired.
DLH Holdings Corp. reported weaker quarterly results for the three months ended December 31, 2025. Revenue fell to $68.9 million from $90.8 million a year earlier, mainly because several Veterans Affairs and Health and Human Services contracts shifted to small business contractors.
The company posted a net loss of $1.3 million, versus net income of $1.1 million last year, with diluted EPS moving from $0.08 to $(0.09). Operating income dropped to $1.4 million from $5.6 million, as lower volume outweighed modest cost reductions. Contract costs declined with revenue, while general and administrative expenses fell slightly but rose as a percentage of sales.
DLH carries significant leverage, with $136.6 million of debt obligations and quarterly interest expense of $3.4 million, partly mitigated by prior prepayments and an interest rate swap. Non‑GAAP EBITDA was $5.7 million and Adjusted EBITDA was $6.5 million, both below last year. Management initiated cost‑scaling actions and confirmed goodwill was not impaired after a market‑driven share price decline. Backlog edged up to $517.4 million, including $124.0 million funded, supporting future revenue.