Research News and Market Data on VVX
August 03, 2026
Second Quarter Financial Highlights
- Revenue of $1.26 billion, up 17% year-over-year
- Net income of $25.5 million; Adjusted net income1 of $51.6 million, up 22% year-over-year
- Adjusted EBITDA1 of $89.8 million; Adjusted EBITDA1 margin of 7.1%
- Diluted EPS of $0.81; Adjusted diluted EPS1 of $1.64, up 23% year-over-year
- Increasing full-year 2026 revenue, adjusted EBITDA1, and adjusted diluted earnings per share1 guidance
RESTON, Va., Aug. 3, 2026 /PRNewswire/ — V2X, Inc. (NYSE:VVX) today announced second quarter 2026 financial results and increased 2026 guidance for revenue, adjusted EBITDA1, and adjusted diluted earnings per share1.
“With double-digit top and bottom-line growth, our strong second quarter performance reflects consistent strategic execution, robust demand for our differentiated capabilities and continued alignment to national security priorities,” said Jeremy C. Wensinger, President and Chief Executive Officer. “Recent awards across modernization, global training, aerospace and mission readiness reinforce the value of our end-to-end solutions, ability to support global no-fail missions, and pursuit of profitable growth opportunities that increase the value of our backlog. Our solid first-half performance and current backlog position us well as we enter the second half of 2026 and as such are increasing our 2026 outlook for revenue, adjusted EBITDA1 and adjusted EPS1. We remain focused on advancing our Go Towards Tomorrow strategy, prioritizing investments that accelerate innovation across the enterprise and strengthen our competitive solutions, and delivering differentiated value for customers and shareholders.”
Second Quarter 2026 Results
In the second quarter, V2X reported revenue of $1.26 billion, representing 17% year-over-year growth. The Company reported solid topline growth and strong operating performance, yielding double-digit growth in adjusted net income1 and adjusted EPS1. Net income for the quarter was $25.5 million. Adjusted net income1 was $51.6 million, an increase of 22%, year-over-year. Second quarter GAAP diluted EPS was $0.81. Adjusted diluted EPS1 for the quarter increased 23% year-over-year to $1.64.
V2X delivered adjusted EBITDA1 of $89.8 million, with a margin1 of 7.1%, representing an increase of 9%, from the prior year.
| 1 See “Key Performance Indicators and Non-GAAP Financial Measures” for descriptions and reconciliations. | |||
Second quarter net cash provided by operating activities was $21.6 million. Adjusted net cash provided by operating activities1 was $71.8 million.
At the end of the second quarter, net debt for V2X was $876.1 million, representing an improvement of $71.4 million year-over-year and a 2.4x net leverage ratio1. The Company expects to achieve a net leverage ratio1 of approximately 2.0x by the end of 2026.
As of July 3, 2026, total backlog1 was $12.7 billion and funded backlog1 was $2.5 billion. Book-to-bill1 in the second quarter was approximately 0.5x. Trailing twelve-month book-to-bill1 was approximately 1.4x.
2026 Guidance
The Company is increasing its 2026 guidance ranges for revenue, adjusted EBITDA1, and adjusted diluted earnings per share1 as follows:
| $ millions, except for per share amounts | Prior 2026 Guidance | Updated 2026 Guidance | ||
| Revenue | $4,825 | $4,975 | $4,875 | $5,025 |
| Adjusted EBITDA1 | $345 | $360 | $347.5 | $362.5 |
| Adjusted Diluted Earnings Per Share1 | $5.75 | $6.15 | $5.90 | $6.30 |
| Adjusted Net Cash Provided by Operating Activities1 | $160 | $180 | $160 | $180 |
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 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 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.
| 1 See “Key Performance Indicators and Non-GAAP Financial Measures” for descriptions and reconciliations. | |||
Second Quarter Conference Call
Management will conduct a conference call with analysts and investors at 4:30 p.m. ET on Monday, August 3, 2026. 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/9LeOmbNmDjb
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 August 17, 2026, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10210672.
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 16,200 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 |
| [email protected] | [email protected] |
| 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 “2026 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; future net leverage ratio; and our belief that our innovation strategy, visibility, and targeted growth opportunities provide substantial demand for our services and 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.
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SOURCE V2X, Inc.