V2x, Inc. · NYSE:VVX
V2x — Q3 2026 Earnings Presentation
20 slides from V2x's earnings presentation, Nov 2, 2026
Slide 1: Third Quarter 2026 Results
Third Quarter 2026 Results GO TOWARDS TOMORROW go V2X NOTE: The appearance of U.S. Department of War (DoW) visual information does not imply or constitute DoW endorsement. GO TOWARDS TOMORROW go V2X
Slide 2: Disclaimers
Disclaimers CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), Section 27A of the Securities Act of 1933, as amended (the Securities Act),
Slide 3: Key Takeaways
Key Takeaways Revenue increased Focused execution Diversity of Strong cash Increasing full year 9% yr/yr and 16% of strategy driving presence and generation enabling 2026 guidance with YTD capitalizing on continued award capabilities focused investments clear line of sight to business activity and s
Slide 4: Third Quarter Performance Underscores Business Momentum
Third Quarter Performance Underscores Business Momentum Q3 2026 YTD 2026 REVENUE $1.27B +9% Y/Y REVENUE $3.78B +16% Y/Y NET INCOME $32.0M NET INCOME $76.5M ADJ. NET INCOME1 $51.7M +19% Y/Y ADJ. NET INCOME1 $151.4M +29% Y/Y ADJ. EBITDA1 $88.6M, 7.0% Margin1 ADJ. EBITDA1 $264.0M, 7.0% Margin1 ADJ. DIL
Slide 5: Backlog and Continued Award Activity Support 2026 Confidence
Backlog1 and Continued Award Activity Support 2026 Confidence Trailing twelve- Total backlog1 of BACKLOG1 ($B) $2.6 month book-to-bill1 $12.8B of 1.4x Solid funded $12 .8 Total book-to-bill1 in backlog1 of $2.6B the quarter of 1.2x $10.2 Funded Unfunded Supports 2026 outlook and line of sight moving
Slide 6: Leveraging Our Strengths to Drive Growth
Leveraging Our Strengths to Drive Growth THE V2X DIFFERENCE 4 1 • Mission proximity drives unique understanding of GROW IDENTIFY future needs and requirements ON CONTRACT GROWTH • Differentiated solutions, broad capabilities, past BOOKINGS (YTD) performance and key partnerships bring a right to win
Slide 7: Our Strategy in Action
Our Strategy in Action Select examples ENGINEERING MISSION READINESS GLOBAL LOGISTICS To address the immediate need for affordable To increase platform availability and pilot readiness To strengthen deterrence in APAC while delivering counter-UAS solutions, V2X: through end-to-end solutions and supp
Slide 8: Investing Today to Meet Tomorrow's Requirements
Investing Today to Meet Tomorrow’s Requirements Current Demand Signals • Global demand signals driving increased customer-funded R&D awards with incremental production opportunity 2026 CUSTOMER FUNDED AND INTERNAL • Positioned for continued growth tailwinds with engineering R&D INVESTMENT and rapid
Slide 9: Strong Third Quarter Financial Performance
Strong Third Quarter Financial Performance REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $1,271 $89 $32 $25 $1,167 $85 Q3'25 Q3'26 Q3'25 Q3'26 Q3'25 Q3'26 EPS ADJ. DILUTED EPS1 ADJ. OCF1 ($M) $1.64 $62 $1.01 $1.37 $0.77 $36 Q3'25 Q3'26 Q3'25 Q3'26 Q3'25 Q3'26 1.SEE APPENDIX FOR RECONCILIATION AND D
Slide 10: Focused Execution Driving YTD 2026 Financial Performance
Focused Execution Driving YTD 2026 Financial Performance REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $3,782 $264 $76 $55 $3,261 $235 YTD Q3'25 YTD Q3'26 YTD Q3'25 YTD Q3'26 YTD Q3'25 YTD Q3'26 EPS ADJ. DILUTED EPS1 ADJ. OCF1 ($M) $112 $2.42 $4.80 $1.73 $3.68 $(24) YTD Q3'25 YTD Q3'26 YTD Q3'25 YT
Slide 11: Robust Cash Generation, Healthy Balance Sheet
Robust Cash Generation, Healthy Balance Sheet CUMULATIVE ADJUSTED OPERATING CASH Continued focus on cash generation is yielding positive results FLOW1 (Three-Year2) ~$500M Significant balance sheet capacity of ~$750M provides flexibility for strategic growth investments Cumulative cash flows demonst
Slide 12: Increasing 2026 Guidance
Increasing 2026 Guidance PRIOR 2026 UPDATED 2026 GUIDANCE RANGE GUIDANCE RANGE 2026 Guidance Assumptions Include: ($M, except per share data) • Cash interest expense of ~$67 million REVENUE $4,875 – $5,025 $4,950 – $5,100 • and other Cash expense interest of ~$15 expense million of ~$65 million and
Slide 13: Preliminary 2027 Perspectives
Preliminary 2027 Perspectives RECOMPETES TOPLINE BOTTOM LINE Estimated to be Growth across Adj. ~6% EBITDA margin1, Adj. Asia Pacific: T-6: Modernization: Up yr/yr Up yr/yr Up yr/yr of revenue EPS1 and Adj. Operating Cash Flow1 National Security: Middle East: Flat yr/yr (through H1) Down yr/yr 1.SEE
Slide 14: Key Takeaways
Key Takeaways Revenue increased Focused execution Diversity of Strong cash Increasing full year 9% yr/yr and 16% of strategy driving presence and generation enabling 2026 guidance with YTD capitalizing on continued award capabilities focused investments clear line of sight to business activity and s
Slide 15: Appendix
GO TOWARDS TOMORROW APPENDIX go V2X GO TOWARDS TOMORROW go V2X 15
Slide 16: Key Performance Indicators and Non-GAAP Measures
Key Performance Indicators and Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including adjusted net income, are not limited to, significant charges or credits, and unusual and infrequent non-operating adjusted diluted earnings per share, adjusted operating income,
Slide 17: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K, except per share data) Three Months Ended Nine Months Ended October 2, 2026 September 26, 2025 October 2, 2026 September 26, 2025 Revenue $ 1,271,463 $ 1,167,137 $ 3,782,234 $ 3,261,390 Net income $ 31,993 $ 24,605 $ 76,458 $ 55,103 Plus: Income tax expense 9
Slide 18: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) TTM ($K, except ratio) Period Ending October 2, 2026 October 2, 2026 Net income $ 99,237 Total debt $ 1,072,774 Plus: Interest expense, net 69,996 Cash, cash equivalents and restricted cash $ 265,070 Income tax expense 27,667 Less: Depreciation and amortizati
Slide 19: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) Three Months Ended Nine Months Ended October 2, 2026 September 26, 2025 October 2, 2026 September 26, 2025 Net cash provided by/(used in) by operating activities $ 67,319 $ 39,448 $ (41,040) $ (27,484) Plus: M&A, integration, and related payments 2,033 1,298
Slide 20: Go Towards Tomorrow go V2X
G O T O W A R D S T O M O R R O W g o V 2 X GO TOWARDS TOMORROW go V2X