Tag: DLH Holdings

Release – AI. Robotics. Automation. DLH Technology and Innovation Powers Recently Honored Projects

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DLHC

June 17, 2025

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ATLANTA, June 17, 2025 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of science research and development, systems engineering and integration, and digital transformation and cybersecurity solutions announced today that three DLH solutions developed in collaboration with military health leadership have been named 2025 FORUM Innovation Award winners.

Each year, the FORUM Innovation Awards recognize top IT programs nominated and selected by their peers for pushing the technology envelope, showcasing breakthrough innovation, and rewarding the leadership and teamwork that improve and advance each agency’s mission.

“DLH and our partners in the military health community operate at the leading-edge of scientific discovery and technological innovation,” said Zach Parker, DLH President and CEO. “Each of these award-winning projects demonstrate the life-saving impact that the work of our data scientists, engineers, and health experts has on Warfighter readiness.”

The 2025 FORUM Innovation Award winners are:

Telerobotic Operator Network (TRON) – DHA MRDC TATRC

TRON is a groundbreaking initiative which allows surgeons to operate on patients located far away by combining virtual reality, digital twin, AI, and robotics. With this technology, doctors and medics can remotely provide vital care on wounded Warfighters operating in hazardous conditions that would ordinarily make treatment nearly impossible.

AutoDoc – DHA MRDC TATRC

Collecting accurate, actionable data is central to developing life-saving automated casualty care solutions, but data collection at the point of care typically requires caregivers to stop providing treatment for the sake of documentation. Automating Documentation (“AutoDoc”) delivers a suite of sensors that passively collect accurate and reliable data on patients and medics in challenging operational environments and high stress situations – allowing medics to focus on the vital care they are providing.

Joint Patient Safety Reporting (JPSR) – DHA PEO Medical Systems, DADIO/J-6

Accurate, comprehensive event reporting is crucial for patient safety, but Warfighter health data is often partitioned between the Defense Health Agency (“DHA”) and Department of Veterans Affairs (“VA”). JPSR securely integrates patient health data into a single system for quantitative and comparative data analysis, including customizable analytical tools, reports, and dashboards which allow for at-a-glance monitoring, measuring, and analysis. This unified system gives caregivers the full visibility they need.

“For over twenty years, DLH has joined forces with military partners to drive research and development, including integrating AI/ML technologies, autonomous medical systems, and interoperable telemedicine platforms,” said Mary Dowdall, President, Advanced Mission Solutions. “These awards demonstrate the value of our enduring collaboration and demonstrate our company’s ability to execute at the nexus of science and technology.”

About DLH

DLH (NASDAQ: DLHC), a Russell 2000 company, enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by customers today, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,400 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of technology, innovation, and world-class expertise to improve lives across the globe. For more information, visit www.DLHcorp.com.

INVESTOR RELATIONS
Contact: Chris Witty
Phone: 646-438-9385
Email: cwitty@darrowir.com

DLH Holdings (DLHC) – A Steady Accumulator

Posted on by slightbourne@noblecapitalmarkets.com


Monday, June 02, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

An Accumulator. Mink Brook Capital has been a steady accumulator of DLHC shares, amassing 2,164,058 DLHC shares, representing approximately 15% of the outstanding shares. Mink Brook first filed a schedule 13G back in early July 2024, disclosing a 5% holding of DLHC shares. The investment firm has continuously added to its stake since then. Mink Brook is the second largest holder of DLHC shares, only behind long-term holder Wynnefield Capital, owner of approximately 25.6% of the shares.

Who Is Mink Brook? Florida based Mink Brook was founded in May 2019 by William Mueller. Mr. Mueller had spent the past decade successfully investing and advising capital in the small-cap space. He desired to form an investment firm that would provide investors with idiosyncratic, uncorrelated returns by focusing on companies outside of major indexes. As of March 31st, the investment management firm had 32 positions with a market value of $95 million. Mink Brook’s DLH holding was the manager’s sixth largest by market cap.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – Refined Model

Posted on by cpereira@noblefcm.com


Wednesday, May 14, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Refined Model. We had an opportunity to dig deep into our model with DLH management. As a result of our discussion, we revised our model. While minor, the changes do impact quarterly EPS, so we believe a model revision is instructional for investors.

Changes. We increased our D&A expense in both the third and fourth quarters to $4.25 million from our prior $4 million. In addition, we increased our fourth quarter interest expense to $3.75 million from a prior $3.5 million. We kept our tax rate at 30%. As a result of the changes, our third quarter net income and EPS declined to $350,000 and $0.02, compared to $525,000 and $0.04, respectively, and our fourth quarter declines to $350,000 and $0.02 from $700,000 and $0.05, respectively. For the full year, EPS is now $0.19 versus a prior $0.22.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – Post Call Commentary and Updated Models

Posted on by cpereira@noblefcm.com


Friday, May 09, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Moving Forward. While the path forward has been more challenging than we had anticipated, we believe DLH remains on the right path to strong operating results. We believe the Company’s core competencies are well aligned with the Federal government’s goals.

New Business. Management expects some $1 billion of business to be awarded by the end of the fiscal year, providing a substantial opportunity for DLH to win its fair share and drive organic growth in 2026. Yesterday, the Company announced it had been awarded a five year task order valued at up to $37.7 million to continue delivering scientific research and development, modeling & simulation, artificial intelligence, machine learning, robotic process automation, biomedical engineering, and cloud-enabled big data analytic solutions for the Telemedicine and Advanced Technology Research Center.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – First Look into 2Q25

Posted on by cpereira@noblefcm.com


Thursday, May 08, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Tempered Results. DLH reported fiscal second quarter 2025 results in-line with our projections. Financial results continue to be negatively impacted by small business set asides and the run off of acquired small business revenue. Despite these headwinds, DLH’s core services revenue remained strong as the Company delivered cutting-edge solutions in support of customers’ mission-critical work.

2Q25 Results. Revenue declined 11.7% to $89.2 million in 2Q25, driven by small business conversions, but was in-line with our $90 million projection. DLH’s adjusted EBITDA totaled $9.4 million, down from $10.2 million in 2Q24. We were at $9.75 million. Net income was $0.9 million, or $0.06/sh, compared to $1.6 million, or $0.12/sh, last year and our estimate of $1.0 million, or $0.07/sh.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – DLH to Announce Fiscal 2025 Second Quarter Financial Results

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on DLH Holdings

April 28, 2025

ATLANTA, April 28, 2025 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of science research and development, systems engineering and integration, and digital transformation and cyber security solutions to federal agencies, will release financial results for the fiscal second quarter ended March 31, 2025 on May 7, 2025 after the market closes. DLH will then host a conference call for the investment community at 10:00 a.m. Eastern Time the following day, May 8, 2025, during which members of senior management will make a brief presentation focused on the financial results and operating trends. A question-and-answer session will follow.  

Interested parties may listen to the conference call by dialing 888-347-5290 or 412-317-5256.  Presentation materials will also be posted on the Investor Relations section of the DLH website prior to the commencement of the conference call. A digital recording of the conference call will be available for replay two hours after the completion of the call and can be accessed on the DLH Investor Relations website or by dialing 877-344-7529 and entering the conference ID 3751581.
  
About DLH
DLH (NASDAQ: DLHC), a Russell 2000 company, enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by customers today, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,800 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of technology, innovation, and world-class expertise, to improve lives across the globe. For more information, visit www.DLHcorp.com.

INVESTOR RELATIONS
Contact: Chris Witty
Phone: 646-438-9385
Email: cwitty@darrowir.com

DLH Holdings (DLHC) – Transition Ongoing

Posted on by cpereira@noblefcm.com


Friday, February 07, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Revenue Decline. 1Q25 y-o-y lower revenue was driven by the unbundling of contracts to small business set-asides, which negatively impacted revenue by $3.5 million, $1.5 million from the winding down of acquired small business contracts, another $1.5 million from winding down of international business, and roughly $2 million of HHS revenue that was pushed out into the second quarter of 2025.

Strong Pipeline. DLH’s pipeline remains strong with over $4.0 billion of new business opportunities. For fiscal year 2025, management identified 13 opportunities worth a total of $700 million. The Company is focused on opportunities that leverage DLH’s digital transformation, cyber security, research and development, and systems engineering capabilities.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – A Peek into the First Quarter Results

Posted on by cpereira@noblefcm.com


Thursday, February 06, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q Results. Revenue for the quarter was $90.8 million, below our estimate of $97 million and last year’s revenue of $97.9 million. Net income totaled $1.1 million, or diluted EPS of $0.08, compared to $2.2 million or $0.15 in the prior year. EBITDA was $9.9 million compared to $11.1 million last year and is in line with our estimate of $10 million.

Year-Over-Year Impact. Management indicated several factors impacted the year-over-year comparison of its TPS platform. For example, during the first quarter, one of the Company’s recompetes was awarded to a small business. This resulted from the prior administration’s Executive Order to unbundle contracts during the recompete cycle and reserve portions for small businesses. Additionally, acquired contracts that were won as a small business transitioned in the latter quarters of 2024, and other small, non-strategic projects were winding down or fully completed.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – A New Award

Posted on by cpereira@noblefcm.com


Friday, January 10, 2025

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Contract. On Monday, DLH was awarded a new Governmentwide Acquisition Indefinite Delivery/Indefinite Quantity contract through the One Acquisition Solution for Integrated Services (OASIS+). OASIS+ is a multi-billion dollar expansive suite program used by various federal agencies such as the Defense Health Agency, CDC, and the DoD, and is expected to grow in usage over the next few years.

Details. Through the contract, DLH will deliver complex professional services and advanced capabilities to various federal agencies. DLH won all five domains for which the Company submitted a bid, including Research and Development Services, Technical and Engineering Services, Intelligence Services and Solutions, Logistics Services and Solutions, and Management and Advisory Services. As a prime awardee of the contract, the base period is five years, with one option for an additional five. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – DLH Awarded OASIS+ GWAC ID/IQ Contract Vehicle

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on DLHC

ATLANTA, Jan. 06, 2025 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of digital transformation and cybersecurity, science research and development, and systems engineering and integration, today announced that it has been awarded a Governmentwide Acquisition Indefinite Delivery/Indefinite Quantity (“GWAC ID/IQ”) contract to deliver complex professional services and advanced capabilities to various federal agencies. The One Acquisition Solution for Integrated Services (“OASIS+”) contract is an expansive suite that may be used by all federal agencies. The Defense Health Agency, Centers for Disease Control and Prevention, and the Department of Defense are among the major users of this contracting vehicle.

This important award has been a long time in the making, with proposals originally submitted during June 2023. Through this contract vehicle, DLH won a position on all five of the domains for which it submitted a bid: Research and Development Services, Technical and Engineering Services, Intelligence Services and Solutions, Logistics Services and Solutions, and Management and Advisory Services. DLH is one of many prime awardees of the OASIS+ contracts, which includes a base period of five years with one option period of five additional years. OASIS+ has no ceiling nor cap on awards.

“Securing positions on high-value, multiple award ID/IQ contracts is vital to our company’s long term organic growth strategy,” said Zach Parker, DLH President and CEO. “This award materially expands our addressable market and access to bids in important competition areas through which we can leverage our differentiating capabilities.”

About DLH

DLH (NASDAQ: DLHC), a Russell 2000 company, enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by federal customers, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,800 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to innovative solutions to improve the lives of millions. For more information, visit www.DLHcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues, operating income, earnings and cash flow. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the risk that we will not realize the anticipated benefits of acquisitions (including anticipated future financial performance and results); the diversion of management’s attention from normal daily operations of the business and the challenges of managing larger and more widespread operations; the inability to retain employees and customers; contract awards in connection with re-competes for present business and/or competition for new business; our ability to manage our debt obligations; compliance with bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the impact of inflation and higher interest rates; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business.

Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law.

CONTACTS:
INVESTOR RELATIONS
Contact: Chris Witty
Phone: 646-438-9385
Email: cwitty@darrowir.com

DLH Holdings (DLHC) – New Administration Brings More Opportunity

Posted on by slightbourne@noblecapitalmarkets.com


Monday, December 09, 2024

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q Results. Reported revenue was $96.4 million compared to $101.5 million from last year and below our $101 million estimate. Net income for the quarter was $2.3 million, or $0.16/sh, compared to a net loss of $2.6 million, or $0.18/sh, last year. Adjusted EBITDA was $10.7 million, down from $12.1 million last year but above our estimate of $10.5 million.

CMOP. Management noted that the Company’s CMOP portfolio is under new task orders that go into the second quarter of 2025. Significantly, the Company has not continued its joint venture bids for specific locations, citing performance dilution. We expect DLH to bid on fewer CMOP contracts, resulting in lower CMOP revenue, likely once past the current extension.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – A More Flexible Credit Facility

Posted on by cpereira@noblefcm.com


Thursday, November 14, 2024

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Credit Facility and CMOP Update. Yesterday, DLH announced the Company has amended its credit facility with lenders to modify the borrowing capacity of the facility itself and the financial covenants of the agreement. The credit facility’s maximum capacity is reduced from $70 million to $50 million with the amendment, although no changes were made to the maturity or pricing terms. We would point out that DLH also is expected to transition a portion of its CMOP locations to set-aside, small business contractors, although no further details were given.

Financial Covenants. As for the financial covenants of the agreement, the two that are specifically being changed are the Total Leverage ratio and Fixed Charge Coverage ratio. Importantly, the amendment increases the maximum threshold of the Total Leverage Ratio, with the most recent being to 4.5 to 1.0 in the first quarter next year from a prior 4.25 to 1.00. As for the Fixed Charge Coverage ratio, the minimum threshold is being lowered with the most recent staying the same at less than to 1.25 to 1.00 in the first quarter next year but lowering in subsequent quarters. While the reduction of the capacity of the facility is not ideal, we believe the changes to the covenants provides DLH flexibility in anticipation of the Company’s CMOP locations being moved to small businesses, impacting performance.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – New Contract Award

Posted on by cpereira@noblefcm.com


Wednesday, November 06, 2024

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Award. DLH has been awarded a contract to support the Naval Information Warfare Center Atlantic’s (“NIWC Atlantic”) Tactical Networks. NIWC Atlantic conducts research, development, and engineering to bolster integrated information warfare capabilities, with an emphasis on Enterprise IT systems.

Details. The award has a total value of approximately $76 million, comprised of $61 million in initial firm value and $15 million in optional services. The contract term includes up to a five-year period of performance. As the prime contractor, DLH will perform In-Service Engineering Agent and Integrated Logistics Support services. DLH’s work will support the missions of several C5ISR program offices and systems including PEO-C4I, PMW-160, NAVWAR, NAVSEA, and others.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.