VVX on NYSE

V2X, Inc.

American facilities support management services company based in Madison2

In its 2026 annual report the company says: “V2X is a leading national security solutions provider. We provide customers worldwide with a broad range of technology and service capabilities, supporting national security readiness and modernization efforts.”5 Its shares trade on NYSE under the symbol VVX.2

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Last updated Oct 21, 2026.

Overview

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  • TickerVVX on NYSE2
  • IndustryServices-Facilities Support Management Services2
  • HeadquartersMadison, United States2
  • Incorporated inIN3
  • Business address2100 Reston Parkway, Suite 300, Reston, Va3
  • Filer categoryLarge accelerated filer3
  • Legal formLimited Liability Company2
  • LEI549300YOTFEWSPUJ2D472
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 68613772

V2X , Inc. (V2X or the Company) is a leading provider of critical mission solutions primarily to defense customers in 349 locations and 49 countries and territories worldwide. V2X enables its customers' most important missions by delivering end-to-end capabilities at scale across the world. This provides us with the expertise and ability to act as a trusted partner to bring differentiated integrated solutions that define mission success. As of December 31, 2025, we had approximately 16,200 employees and 7,300 subcontract personnel. The Company operates as one segment and offers a broad suite of capabilities including multi-domain high impact readiness, integrated supply chain management, assured communications, mission solutions, and platform renewal and modernization to national security, defense, civilian and international customers.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

4.3%Operating margin6
1.7%Net margin6
3.7%Revenue growth, 20256
7.2%Return on equity6
1.00×Debt to equity6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 58% of the revenue V2X, Inc. broke down this way in fiscal 2025.

  1. United States$2.6B658%up 9% from 2024
  2. Middle East$1.4B630%down 3% from 2024
  3. Asia$313.0M67%down 4% from 2024
  4. Europe$206.4M65%down 0% from 2024
Regions by year
Regions202320242025
United States$2.3B$2.4B$2.6B
Middle East$1.2B$1.4B$1.4B
Asia$264.3M$327.0M$313.0M
Europe$219.1M$207.2M$206.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue92¢$4.1B
  • Selling, general and admin4¢$179.1M
  • Other costs2¢$93.4M
  • Income tax1¢$23.0M
  • Profit2¢$77.9M

Out of $4.5B in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks16¢$30.0M
  • Kept or used elsewhere84¢$152.0M

Out of $182.0M of cash from operations.6

Financial statements

Revenue789106$4.5B in 2025+224% since 2019
0$2.0B$4.0B$6.0B2019: $1.4B$1.4B20192020: $1.4B$1.4B2020+1%2021: $1.8B$1.8B2021+28%2022: $2.9B$2.9B2022+62%2023: $4.0B$4.0B2023+37%2024: $4.3B$4.3B2024+9%2025: $4.5B$4.5B2025+4%
Operating income789106$194.3M in 2025+291% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $49.6M$49.6M20192020: $43.5M$43.5M2020−12%2021: $62.0M$62.0M2021+43%2022: $55.8M$55.8M2022−10%2023: $124.4M$124.4M2023+123%2024: $159.2M$159.2M2024+28%2025: $194.3M$194.3M2025+22%
Net income789106$77.9M in 2025+135% since 2019
-$50.0M0$50.0M$100.0M2019: $33.2M$33.2M20192020: $37.0M$37.0M2020+11%2021: $45.7M$45.7M2021+24%2022: -$14.3M-$14.3M20222023: -$22.6M-$22.6M2023+58%2024: $34.7M$34.7M20242025: $77.9M$77.9M2025+125%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Revenue$4.5B$4.3B$4.0B
Cost of revenue$4.1B$4.0B$3.6B
Selling, general and administrative expenses$179.1M$183.8M$210.4M
Operating income$194.3M$159.2M$124.4M
Loss on extinguishment of debt-$2.5M-$2.0M-$22.3M
Interest expense, net-$79.9M-$107.9M-$122.4M
Other expense, net-$10.9M-$10.5M-$4.2M
Income (loss) from operations before income taxes$100.9M$38.8M-$24.5M
Income tax expense (benefit)$23.0M$4.2M-$1.9M
Net income (loss)$77.9M$34.7M-$22.6M
Basic (in dollars per share)$2.47$1.10-$0.73
Diluted (in dollars per share)$2.45$1.08-$0.73
Weighted average common shares outstanding - basic (in shares)31.6M shares31.5M shares31.1M shares
Weighted average common shares outstanding - diluted (in shares)31.8M shares32.0M shares31.1M shares

Compare V2X, Inc. with another company

Corporate structure

V2X, Inc. sits at the top of its group. 46 entities, 22 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of V2X, Inc.

  • V2X, Inc. Madison, Mississippi, United States
    • Advantor Systems II, LLC Subsidiary · Florida, United States
    • Advantor Systems, LLC Subsidiary · Delaware, United States
    • Al-Shabaka for Protection Products Marketing and General Support Services LLC Subsidiary · Iraq
    • Army Sustainment LLC Subsidiary · Delaware, United States
    • Delex Systems, Incorporated Subsidiary · Virginia, United States
    • Flight International Aviation LLC Subsidiary · Delaware, United States
    • MARCOS Vermogensverwaltung GmbH Subsidiary · Germany
    • Professional Training Services de Mexico S. de R.L. de C.V. Subsidiary · Mexico
    • V2X Aerospace LLC Subsidiary · Delaware, United States
    • V2X Aircraft Integration and Sustainment LLC Subsidiary · Delaware, United States
    • V2X Asia Global Pte. Subsidiary · Singapore
    • V2X Intermediate LLC Subsidiary · Delaware, United States
    • V2X Merger Sub LLC Subsidiary · Delaware, United States
    • V2X Modernization and Sustainment LLC Subsidiary · Delaware, United States
    • V2X Overseas Ventures LLC Subsidiary · Virginia, United States
    • V2X Professional Services LLC Subsidiary · Delaware, United States
    • V2X Systems Israel Company Subsidiary · Delaware, United States
    • V2X Systems LLC Subsidiary · Delaware, United States
    • V2X Technical Services International Company Subsidiary · Delaware, United States
    • Vector International Aviation LLC Subsidiary · Delaware, United States
    • Vectrus Facility Services GmbH Subsidiary · Germany
    • Vectrus Federal Services GmbH Subsidiary · Germany
    • Vectrus Federal Services International, Ltd. Subsidiary · Cayman Islands
    • Vectrus Global Support Services LLP Subsidiary · India
    • Vectrus International LLC Subsidiary · Colorado, United States
    • and 20 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What V2X, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$142.7M6 Dec 31, 2025$138.3M6 Dec 31, 2024+3.2%
Accumulated depreciation$90.3M6 Dec 31, 2025$76.3M6 Dec 31, 2024+18.3%
Property and equipment, net$52.4M6 Dec 31, 2025$62.0M6 Dec 31, 2024−15.5%
Operating-lease assets (leased space)$29.3M6 Dec 31, 2025$37.4M6 Dec 31, 2024−21.9%

Investments

ItemLatestA year beforeChange
Stakes in other companies (equity method)$10.8M6 Dec 31, 2025$8.6M6 Dec 31, 2024+25.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.7B6 Dec 31, 2025$1.7B6 Dec 31, 2024+1.2%
Intangible assets, net (excluding goodwill)$239.8M6 Dec 31, 2025$323.1M6 Dec 31, 2024−25.8%
Finite-lived intangibles, gross$579.6M6 Dec 31, 2025$572.3M6 Dec 31, 2024+1.3%
Accumulated amortization$339.8M6 Dec 31, 2025$249.2M6 Dec 31, 2024+36.4%
Finite-lived intangibles, net$239.8M6 Dec 31, 2025$323.1M6 Dec 31, 2024−25.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$45.9M6 Dec 31, 2025$50.9M6 Dec 31, 2024−9.9%

Properties, in its own words

We have 349 locations in 49 countries and territories on seven continents. Our contract performance typically occurs on the government customer’s facility. Our material locations are the corporate headquarters office located at 2100 Reston Parkway, Suite 300, Reston, Virginia and operations offices located at: 2424 Garden of the Gods Road, Colorado Springs, Colorado; 555 Industrial Drive, Madison, Mississippi; and 6125 East 21st Street, Indianapolis, Indiana. These properties are used by our sole operating segment. Our Reston, Colorado Springs, Madison and Indianapolis leased locations have approximately 27,428, 64,335 164,000, and 928,000 square feet, and expire in 2032, 2028, 2030 and 2026 (subject to renewal), respectively. We consider the properties that we lease to be in good condition and generally suitable for the purposes for which they are used.

Item 2 of the 10-K filed Feb 23, 2026.5

Leadership

Who has led V2X, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (48)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Advantor Systems II, LLC Florida4
  • Advantor Systems, LLC Delaware4
  • Al-Shabaka for Protection Products Marketing and General Support Services LLC Iraq4
  • Army Sustainment LLC Delaware4
  • Delex Systems, Incorporated Virginia4
  • Flight International Aviation LLC Delaware4
  • MARCOS Vermogensverwaltung GmbH Germany4
  • Professional Training Services de Mexico S. de R.L. de C.V. Mexico4
  • V2X Aerospace LLC Delaware4
  • V2X Aircraft Integration and Sustainment LLC Delaware4
  • V2X Asia Global Pte. Singapore4
  • V2X Intermediate LLC Delaware4
  • V2X LLC Delaware4
  • V2X Merger Sub LLC Delaware4
  • V2X Modernization and Sustainment LLC Delaware4
  • V2X Overseas Ventures LLC Virginia4
  • V2X Professional Services LLC Delaware4
  • V2X Systems Israel Company Delaware4
  • V2X Systems LLC Delaware4
  • V2X Technical Services International Company Delaware4
  • VMSC Afghanistan LLC Delaware4
  • VPS Filial Sverige Sweden4
  • Vector International Aviation LLC Delaware4
  • Vectrus Facility Services GmbH Germany4
All 46 listed subsidiaries
  • Vectrus Federal Services GmbH Germany4
  • Vectrus Federal Services International, Ltd. Cayman Islands4
  • Vectrus Global Support Services LLP India4
  • Vectrus International LLC Colorado4
  • Vectrus Mission Systems Ltd. United Kingdom4
  • Vectrus Saudi Arabia for Commercial Services Saudi Arabia4
  • Vectrus Services (Thailand) Co., LTD Thailand4
  • Vectrus Services A/S Denmark4
  • Vectrus Services Australia Pty. Ltd. Australia4
  • Vectrus Services Djibouti SARL Djibouti4
  • Vectrus Services Greenland ApS Greenland4
  • Vectrus Services Japan Godo Kaisha Japan4
  • Vectrus Services Muscat LLC Oman4
  • Vectrus Services Niger S.A.R.L.U. Niger4
  • Vectrus Services PTE. LTD Singapore4
  • Vectrus Services Philippines, Inc. Philippines4
  • Vectrus Subic Corporation Philippines4
  • Vectrus Systems Corporation (Jordan) Jordan4
  • Vertex Company Germany GmbH Germany4
  • Vertex Company UK 1 Limited United Kingdom4
  • Vertex Professional Services Company S.A. Spain4
  • Vertex Technologies Canada Inc. Canada4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Vectrus, Inc.Apr 4, 2014 to Jun 15, 20223
  • Exelis MSCO Inc.Mar 10, 2014 to Mar 10, 20143

Timeline

  1. Aug 10, 20268-K Executive or director change65
  2. Aug 3, 20268-K Results of operations66
  3. Jun 1, 20268-K Entered a material agreement; New debt or obligation67
  4. May 11, 20268-K Other events68
  5. May 7, 20268-K Executive or director change; Shareholder vote69
  6. May 4, 20268-K Results of operations70
  7. Feb 23, 20268-K Results of operations71
  8. Jan 8, 20268-K Executive or director change72
  9. Nov 13, 20258-K Executive or director change; Other events73
  10. Nov 6, 20258-K Executive or director change74
  11. Nov 3, 20258-K Results of operations75
  12. Aug 14, 20258-K Executive or director change76
  13. Jun 26, 2024New chief executive Jeremy C. Wensinger becomes CEO14
  14. Apr 26, 2018Founded V2X, Inc. is founded2
  15. Dec 12, 2016New chief executive Charles Prow becomes CEO15
  16. Sep 8, 2014New chief executive Kenneth W. Hunzeker becomes CEO16

Calendar

Coming up

  1. Nov 2, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.37 a share, on Nov 3, 2025.77

When it reported results

  1. Aug 3, 2026Reported quarterly or annual results66
  2. May 4, 2026Reported quarterly or annual results70
  3. Feb 23, 2026Reported quarterly or annual results71
  4. Nov 3, 2025Reported quarterly or annual results75
  5. Aug 4, 2025Reported quarterly or annual results78
  6. May 5, 2025Reported quarterly or annual results79
  7. Feb 24, 2025Reported quarterly or annual results80
  8. Nov 4, 2024Reported quarterly or annual results81

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

397 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 55 major events, 226 insider forms, 37 large holders, 58 other. The latest 20:

  1. Oct 13, 20264 EDGAR
  2. Aug 27, 20264 EDGAR
  3. Aug 17, 20264 EDGAR
  4. Aug 14, 2026144 EDGAR
  5. Aug 12, 20264 EDGAR
  6. Aug 11, 2026144 EDGAR
  7. Aug 10, 20268-K EDGAR
  8. Aug 6, 2026SCHEDULE 13G/A EDGAR
  9. Aug 6, 2026SCHEDULE 13G/A EDGAR
  10. Aug 3, 20268-K EDGAR
  11. Aug 3, 202610-Q EDGAR
  12. Jul 14, 2026SCHEDULE 13G EDGAR
  13. Jun 29, 20264 EDGAR
  14. Jun 1, 20268-K EDGAR
  15. May 15, 20264 EDGAR
  16. May 13, 2026SCHEDULE 13D/A EDGAR
  17. May 12, 2026SCHEDULE 13G EDGAR
  18. May 11, 20264 EDGAR
  19. May 11, 20264 EDGAR
  20. May 11, 20264 EDGAR

The 397 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

53 open-market trades by officers, directors and large owners since October 2021: 27 buys and 26 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 14, 2026Nance Jeremy JohnSVP and General CounselSale3,500$82.01$287.0KForm 4
Aug 11, 2026Parker MelvinDirectorSale5,000$81.41$407.1KForm 4
Mar 12, 2026AIPCF VI, LLC10% ownerSale2,545,432$68.21$173.6MForm 4
Dec 11, 2025Vertex Aerospace Holdco LLC10% ownerSale1,200,000$55.05$66.1MForm 4
Nov 13, 2025Cusumano Dino MDirectorSale2,250,000$55.00$123.8MForm 4
Nov 13, 2025AIPCF VI, LLC10% ownerSale2,250,000$55.00$123.8MForm 4
Sep 11, 2025American Industrial Partners Capital Fund VI, L.P.10% ownerSale1,700,000$52.20$88.7MForm 4
Sep 11, 2025Cusumano Dino MDirectorSale1,700,000$52.20$88.7MForm 4
Aug 11, 2025Cusumano Dino MDirectorSale2,000,000$50.00$100.0MForm 4
Aug 11, 2025Lightship Capital LLC10% ownerSale2,000,000$50.00$100.0MForm 4
Jun 11, 2025Caputo Richard L. Jr.SVP, Aerospace SystemsSale5,462$44.74$244.4KForm 4
Jun 10, 2025Caputo Richard L. Jr.SVP, Aerospace SystemsSale4,000$44.63$178.5KForm 4
Jun 6, 2025Caputo Richard L. Jr.SVP, Aerospace SystemsSale4,000$44.91$179.6KForm 4
Jun 5, 2025Caputo Richard L. Jr.SVP, Aerospace SystemsSale4,000$44.43$177.7KForm 4
May 22, 2025Caputo Richard L. Jr.SVP, Aerospace SystemsSale2,200$46.86$103.1KForm 4
May 19, 2025Cusumano Dino MDirectorSale2,000,000$48.39$96.8MForm 4
May 19, 2025American Industrial Partners Capital Fund VI, L.P.10% ownerSale2,000,000$48.39$96.8MForm 4
Nov 21, 2024Nance Jeremy JohnSVP and General CounselSale2,500$61.43$153.6KForm 4
Nov 14, 2024Cusumano Dino MDirectorSale2,500,000$58.10$145.2MForm 4
Nov 14, 2024Vertex Aerospace Holdco LLC10% ownerSale2,500,000$58.10$145.2MForm 4

All 53 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fmr LLC4,414,201$329.1M0.0%+671,935
BlackRock, Inc.2,544,621$189.7M0.0%+16,015
State Street Corp1,752,272$130.6M0.0%−5,617
Dimensional Fund Advisors LP1,602,609$119.5M0.0%+98,902
Reinhart Partners, Llc.1,406,416$104.9M2.4%−34,543
Vanguard Capital Management LLC1,261,123$94.0M0.0%+7,423
Bank Of America Corp /de/1,174,122$87.5M0.0%+656,753
Ophir Asset Management Pty Ltd865,160$64.5M5.3%+17,978
Vanguard Portfolio Management LLC813,043$60.6M0.0%+529,456
Victory Capital Management Inc768,616$57.3M0.0%−55,139
Geode Capital Management, LLC731,446$54.5M0.0%+132,973
Nuveen, LLC614,603$45.8M0.0%+118,178
D. E. Shaw & Co., Inc.582,484$43.4M0.0%+259,185
Morgan Stanley522,930$39.0M0.0%+143,735
Boston Partners446,823$33.3M0.0%+132,367
Van Eck Associates Corp441,391$32.9M0.0%New
Systematic Financial Management LP416,442$31.1M0.6%−4,768
Federated Hermes, Inc.407,466$30.4M0.0%+25,713
Two Sigma Investments, LP381,830$28.5M0.0%−11,186
Charles Schwab Investment Management Inc363,931$27.1M0.0%+28,327
Schroder Investment Management Group346,029$24.6M0.0%+45,315
Invesco Ltd.323,642$24.1M0.0%+33,203
Wellington Management Group Llp312,145$23.3M0.0%+736
Assenagon Asset Management S.A.296,790$22.1M0.0%+281,512
Algert Global LLC264,645$19.7M0.2%−41,981

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How V2X, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARV2X, Inc.1
  • CIK0001601548
  • Employer ID (EIN)38-39246365
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inIndiana5
  • Fiscal year endsDecember 311
  • Industry code (SIC)8744 Services-Facilities Support Management Services1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address2100 Reston Parkway, Suite 300, Reston, VA1
  • Phone(571) 481-20001
  • Shares outstanding31,345,358 as of Jul 28, 202612
  • Public float$702.0M as of Jun 27, 20255
  • AuditorRSM US LLP, McLean, Virginia PCAOB ID 49; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceMar 10, 20141
  • Filings928 in all: 4 (489), 8-K (150), 3 (55), 10-Q (36), SC 13G/A (34), SC 13G (17), 144 (16), DEFA14A (16)1
    All 34 form types

    UPLOAD (13), 10-K (12), DEF 14A (12), 4/A (8), 424B5 (8), CORRESP (7), SCHEDULE 13D/A (7), SCHEDULE 13G/A (7), 10-12B/A (5), ARS (5), FWP (5), S-8 (4), SC 13D/A (4), SCHEDULE 13G (4), EFFECT (2), S-3 (2), 10-12B (1), 10-K/A (1), 3/A (1), 8-K/A (1), CERTNYS (1), DEFM14A (1), PRE 14A (1), PREM14A (1), S-8 POS (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 23, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Mar 19, 2026
    Latest 8-K (8-K) Aug 10, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, Par Value $.01 Per ShareVVXNew York Stock Exchange

From the cover page of the 10-K filed Feb 23, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks V2X, Inc. names in Item 1A of its 10-K filed Feb 23, 2026: 48 risks under these headings, as written.5

  • Risks Related to Our Business
  • Risks Related to Governmental Regulations and Laws
  • Risks Related to Our Indebtedness, Financial Condition and Markets
  • Risks Related to Our Securities
  • RISKS RELATED TO OUR BUSINESS
  • We may not be successful in winning new contracts or recompeting our existing contracts, which could have an adverse impact on our business and prospects.
  • Our profitability or performance could suffer if we are unable to recruit, retain and develop qualified personnel or maintain adequate staffing levels to meet our contract requirements.
  • Termination, expiration or non-renewal of our existing U.S. government contracts may adversely affect our business.
  • We derive a significant portion of our revenue from a concentrated number of large contracts, and the loss or material reduction of any of these contracts could have a material adverse effect on our results of operations and cash flows.
  • We rely on internal and external information technology systems to conduct our business, and disruption or failure of these systems could adversely affect our business and results of operations.
  • Competition within our markets may reduce our revenue and market share.
  • Our earnings and margins may vary based on our performance, the mix of our contracts, and our ability to control costs.
The other 41 risks
  • We use estimates in accounting for many of our programs, and changes in our estimates could adversely affect our future financial results.
  • While firm-fixed-price contracts allow us to benefit from cost savings, these contracts also increase our exposure to the risk of cost overruns.
  • Uncertainties in the U.S. government defense budget, changes in spending or budgetary priorities or delays in contract awards or collection of our receivables may significantly and adversely affect our financial performance and limit our growth prospects.
  • We are dependent on the U.S. government and, if our reputation or relationship with the U.S. government was harmed, our revenue and growth prospects could be adversely affected.
  • Business disruptions caused by natural disasters, global hostilities, pandemics, and other crises could adversely affect our profitability and our overall financial position.
  • We rely on our information and communications systems in our operations. Security breaches, cybersecurity attacks, and other disruptions could adversely affect our business and results of operations.
  • Our contract sites are inherently dangerous workplaces. Failure to maintain safe work sites and equipment or effectively respond to the impacts of pandemics in our workplaces could result in employee exposures, injuries, or deaths, environmental disasters, reduced profitability, the loss of projects or customers and possible exposure to litigation.
  • We work in international locations where there are high security risks, which could result in harm to our employees and contractors and the incurrence of substantial costs.
  • A significant portion of our workforce is represented by labor unions and conducting business internationally, and our business could be harmed in the event of a prolonged work stoppage.
  • We conduct a portion of our operations through joint ventures and other partnerships, exposing us to certain risks and uncertainties, many of which are outside of our control.
  • Our earnings and margins depend, in part, on supplier performance.
  • Our business could be adversely affected by bid protests.
  • Misconduct of our employees, suppliers, agents, prime contractors or business partners could cause us to sustain financial or criminal penalties, lose customers and could have a material adverse impact on our business and reputation, adversely affecting our ability to obtain new contracts.
  • Our success depends, in part, on our ability to work with and manage complex and rapidly changing technologies to meet the needs of our customers.
  • We may pursue acquisitions and other investments that involve numerous risks and uncertainties.
  • We depend on our teaming relationships with other contractors. If we are not able to maintain these relationships, or if these parties fail to satisfy their obligations to us or the customer, our revenue, profitability and growth prospects could be adversely affected.
  • We may be required to contribute additional funds to meet any present or future underfunded benefit obligations associated with multiemployer pension plans in which we participate.
  • Legal disputes could require us to pay potentially large damage awards and could be costly to defend, which would adversely affect our cash balances and profitability, and could damage our reputation.
  • Our insurance may be insufficient to protect us from claims or losses.
  • Increasing scrutiny and changing expectations from governmental organizations, customers, and our employees with respect to our sustainability practices may impose additional costs or expose us to new or additional risks.
  • RISKS RELATED TO GOVERNMENTAL REGULATIONS AND LAWS
  • EHS issues could have a material adverse effect on our business, financial position or results of operations.
  • As a U.S. government contractor, we are subject to a number of procurement laws and regulations and could be adversely affected by changes in regulations or our failure to comply with these regulations.
  • The DoW continues to modify its business practices, which could have a material effect on its overall procurement processes and adversely impact our current programs and potential new awards.
  • Our business depends upon obtaining and maintaining required facility security clearance and individual security clearances.
  • We are subject to legal and regulatory compliance risks associated with operating internationally.
  • As a U.S. defense contractor, we are subject to security restrictions, which may limit investor insight into portions of our business.
  • Our business may be negatively impacted if we are unable to adequately protect our intellectual property rights.
  • Government withholding regulations could adversely affect our operating performance.
  • We are subject to certain data privacy regulations, which expose us to certain risks if we do not comply with these requirements.
  • RISKS RELATED TO OUR INDEBTEDNESS, FINANCIAL CONDITION AND MARKETS
  • Our level of indebtedness and our ability to make payments on or service our indebtedness could adversely affect our business, financial condition, results of operations, cash flow and liquidity.
  • Our variable rate indebtedness may expose us to interest rate risks, which could cause our debt costs to increase significantly.
  • Our debt agreements contain covenants with which we must comply or risk default, or that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our businesses.
  • Goodwill represents a significant portion of our assets, and any impairment of these assets could negatively impact our results of operations.
  • The effects of changes in worldwide economic and capital markets conditions may significantly affect our ability to maintain liquidity or procure capital.
  • We may not realize as revenue the full amounts reflected in our backlog, which could adversely affect our future revenue and growth.
  • Unanticipated changes in our tax provisions or exposure to additional U.S. and foreign tax liabilities could affect our profitability.
  • RISKS RELATED TO OUR SECURITIES
  • Our stock price may be volatile.
  • Any future offerings of securities, including debt or preferred stock, which would be senior to our common stock, or other equity securities may materially and adversely affect us or our shareholders, including the per share trading price of our common stock.
  • If our significant shareholders who received shares of our common stock in the Merger sell their shares, the price of our common stock could be materially affected.
  • We do not currently plan to pay dividends on our common stock, and our indebtedness could limit our ability to pay dividends on our common stock in the future.
  • Anti-takeover provisions in our organizational documents and Indiana law could delay or prevent a change in control.

Legal proceedings

From time to time, we are party to various investigations, lawsuits, arbitration, claims, enforcement actions and other legal proceedings including government investigations and claims, which are incidental to the operation of our business. Some of these proceedings seek remedies relating to employment matters, matters relating to injuries to people or property damage, matters in connection with our contracts and matters arising under laws relating to the protection of the environment. As a government contractor, we are also subject to U.S. government audits and investigations relating to our operations, including claims for fines, penalties, and repayments, compensatory or treble damages. We believe the outcome of such ongoing government audits and investigations will not have a material impact on our results of operations, financial condition or cash flows. Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including our assessment of the merits of the particular claim, we do not expect that any asserted or unasserted legal claims or proceedings, individually or in the aggregate, will have a material adverse effect on our results of operations, financial condition or cash flows.

See Note 14, Commitments and Contingencies, in the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K for further information.

The opening of Item 3, Legal Proceedings.5

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