V2X Inc (VVX) financial statements: income statement, balance sheet and cash flow
V2X Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), V2X Inc reported revenue of $4.5B (+3.7% year on year) and net income of $77.9M (+124.5% year on year).
Income statement
V2X Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$4.5B
$4.3B
$4.0B
$2.9B
Cost of revenue
$4.1B
$4.0B
$3.6B
$2.6B
Selling, general and administrative expenses
$179.1M
$183.8M
$210.4M
$239.2M
Operating income
$194.3M
$159.2M
$124.4M
$55.8M
Loss on extinguishment of debt
($2.5M)
($2.0M)
($22.3M)
—
Interest expense, net
($79.9M)
($107.9M)
($122.4M)
($61.9M)
Other expense, net
($10.9M)
($10.5M)
($4.2M)
—
Income (loss) from operations before income taxes
$100.9M
$38.8M
($24.5M)
($6.1M)
Income tax expense (benefit)
$23.0M
$4.2M
($1.9M)
$8.2M
Net income (loss)
$77.9M
$34.7M
($22.6M)
($14.3M)
Basic (in dollars per share)
$2.47
$1.10
-$0.73
-$0.68
Diluted (in dollars per share)
$2.45
$1.08
-$0.73
-$0.68
Weighted average common shares outstanding - basic (in shares)
31.6M
31.5M
31.1M
21.0M
Weighted average common shares outstanding - diluted (in shares)
31.8M
32.0M
31.1M
21.0M
V2X Inc income statement, quarters
Line item
Jul 3, 2026 · Q3
Apr 3, 2026 · Q2
Sep 26, 2025 · Q3
Jun 27, 2025 · Q2
Revenue
$1.3B
$1.3B
$1.2B
$1.1B
Cost of revenue
$1.1B
$1.1B
$1.1B
$982.6M
Selling, general, and administrative expenses
$55.7M
$61.7M
$38.8M
$42.8M
Operating income
$53.8M
$44.1M
$55.7M
$52.9M
Loss on extinguishment of debt
($1.7M)
$0
$0
($313.0K)
Interest expense, net
($16.7M)
($18.1M)
($20.0M)
($20.6M)
Other expense, net
($2.1M)
($2.4M)
($3.0M)
($2.6M)
Income from operations before income taxes
$33.2M
$23.5M
$32.7M
$29.4M
Income tax expense
$7.7M
$4.6M
$8.1M
$7.1M
Net income
$25.5M
$18.9M
$24.6M
$22.4M
Basic (in dollars per share)
$0.82
$0.61
$0.78
$0.71
Diluted (in dollars per share)
$0.81
$0.60
$0.77
$0.70
Weighted average common shares outstanding - basic (in shares)
31.3M
31.2M
31.6M
31.7M
Weighted average common shares outstanding - diluted (in shares)
31.5M
31.5M
31.9M
31.9M
Balance sheet
V2X Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash, cash equivalents and restricted cash
$369.0M
$268.3M
$72.7M
—
Receivables
$738.9M
$710.1M
$706.0M
$728.6M
Prepaid expenses and other current assets
$127.1M
$70.9M
$49.2M
—
Total current assets
$1.2B
$1.1B
$874.9M
$931.9M
Property, plant, and equipment, net
$52.4M
$62.0M
$85.4M
$78.7M
Goodwill
$1.7B
$1.7B
$1.7B
$1.7B
Intangible assets, net
$239.8M
$323.1M
$407.5M
$498.0M
Other non-current assets
$76.5M
$48.9M
$15.9M
$17.9M
Total non-current assets
$2.0B
$2.1B
$2.2B
$2.3B
Total Assets
$3.3B
$3.2B
$3.1B
$3.2B
Accounts payable
$557.0M
$547.6M
$453.1M
$406.7M
Compensation and other employee benefits
$176.5M
$166.9M
$158.1M
$168.0M
Short-term debt
$14.9M
$20.0M
$15.4M
$11.8M
Other accrued liabilities
$267.0M
$261.7M
$213.7M
$196.5M
Total current liabilities
$1.0B
$996.2M
$840.2M
$783.1M
Long-term debt, net
$1.1B
$1.1B
$1.1B
$1.3B
Deferred tax liabilities
$28.4M
$21.0M
$11.8M
$15.8M
Other non-current liabilities
$69.1M
$64.2M
$104.2M
$133.2M
Total non-current liabilities
$1.2B
$1.2B
$1.3B
$1.5B
Total liabilities
$2.2B
$2.2B
$2.1B
$2.2B
Preferred stock; $0.01 par value; 10,000,000 shares authorized; No shares issued and outstanding
0
0
0
0
Common stock; $0.01 par value; 100,000,000 shares authorized; 31,735,083 shares issued and 31,171,445 shares outstanding as of December 31, 2025; 31,560,490 shares issued and outstanding as of December 31, 2024
317.0K
316.0K
312.0K
305.0K
Treasury stock, at cost - 563,638 and no shares as of December 31, 2025 and 2024, respectively
-30.3M
—
—
—
Additional paid in capital
$779.1M
$769.7M
$762.3M
$748.9M
Retained earnings
$343.4M
$265.5M
$230.9M
$253.4M
Accumulated other comprehensive loss
($7.9M)
($9.4M)
($2.7M)
($5.5M)
Total shareholders' equity
$1.1B
$1.0B
$990.8M
$997.1M
Total Liabilities and Shareholders' Equity
$3.3B
$3.2B
$3.1B
$3.2B
V2X Inc balance sheet, quarters
Line item
Jul 3, 2026
Apr 3, 2026
Sep 26, 2025
Jun 27, 2025
Cash, cash equivalents and restricted cash
$214.3M
$208.7M
$182.3M
$190.5M
Receivables
$827.4M
$828.8M
$773.3M
$738.9M
Prepaid expenses and other current assets
$163.7M
$132.0M
$143.0M
$137.7M
Total current assets
$1.2B
$1.2B
$1.1B
$1.1B
Property, plant, and equipment, net
$49.0M
$50.6M
$57.6M
$61.5M
Goodwill
$1.7B
$1.7B
$1.7B
$1.7B
Intangible assets, net
$194.2M
$217.1M
$262.8M
$277.9M
Other non-current assets
$72.9M
$75.4M
$43.6M
$48.4M
Total non-current assets
$2.0B
$2.0B
$2.1B
$2.1B
Total Assets
$3.2B
$3.2B
$3.2B
$3.1B
Accounts payable
$547.4M
$467.4M
$487.2M
$434.7M
Compensation and other employee benefits
$134.2M
$170.4M
$156.9M
$150.1M
Short-term debt
$16.1M
$14.9M
$14.9M
$14.9M
Other accrued liabilities
$216.7M
$280.6M
$255.3M
$286.8M
Total current liabilities
$914.4M
$933.3M
$914.3M
$886.5M
Long-term debt, net
$1.0B
$1.1B
$1.1B
$1.1B
Deferred tax liabilities
$33.6M
$30.2M
$12.5M
$18.0M
Other non-current liabilities
$67.8M
$61.5M
$48.9M
$53.6M
Total non-current liabilities
$1.1B
$1.2B
$1.2B
$1.2B
Total liabilities
$2.1B
$2.1B
$2.1B
$2.1B
Preferred stock; $0.01 par value; 10,000,000 shares authorized; No shares issued and outstanding
0
0
0
0
Common stock; $0.01 par value; 100,000,000 shares authorized; 31,908,996 shares issued and 31,345,358 shares outstanding as of July 3, 2026; 31,735,083 shares issued and 31,171,445 shares outstanding as of December 31, 2025
319.0K
318.0K
317.0K
317.0K
Treasury stock, at cost - (563,638) shares as of both July 3, 2026 and December 31, 2025
-30.3M
-30.3M
-10.1M
—
Additional paid in capital
$782.3M
$778.0M
$776.4M
$773.0M
Retained earnings
$387.9M
$362.3M
$320.6M
$296.0M
Accumulated other comprehensive loss
($5.8M)
($6.8M)
($7.7M)
($3.6M)
Total shareholders' equity
$1.1B
$1.1B
$1.1B
$1.1B
Total Liabilities and Shareholders' Equity
$3.2B
$3.2B
$3.2B
$3.1B
Cash flow statement
V2X Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$77.9M
$34.7M
($22.6M)
($14.3M)
Depreciation expense
$17.0M
$20.7M
$22.4M
$13.5M
Amortization of intangible assets
$90.6M
$90.8M
$90.4M
$48.6M
Amortization of cloud computing arrangements
$4.9M
$3.3M
—
—
Gain from acquisitions, net
$0
($2.2M)
—
—
Impairment of non-operating long-lived asset
$0
$2.2M
—
—
(Gain) loss on disposal of property, plant, and equipment
($3.0M)
$1.4M
$683.0K
$59.0K
Stock-based compensation
$11.9M
$16.0M
$32.8M
$32.7M
Deferred taxes
$9.3M
$7.7M
($7.5M)
($15.6M)
Amortization of debt issuance costs
$6.2M
$7.4M
$9.1M
$7.8M
Loss on extinguishment of debt
$2.5M
$2.0M
$22.3M
—
Gain on disposition of business
$0
$0
($450.0K)
($2.1M)
Receivables
($23.5M)
$25.2M
$19.1M
($52.3M)
Other assets
$9.3M
($38.4M)
$12.1M
$15.3M
Accounts payable
$5.5M
$75.3M
$43.2M
$71.8M
Compensation and other employee benefits
$9.1M
$9.1M
($9.9M)
$42.9M
Other liabilities
($35.8M)
$2.8M
($23.3M)
($51.0M)
Net cash provided by operating activities
$182.0M
$254.2M
$188.0M
$93.5M
Purchases of capital assets and intangibles
($11.9M)
($11.8M)
($25.0M)
($12.4M)
Proceeds from the disposition of assets
$9.8M
$76.0K
$16.0K
$9.0K
Acquisition of businesses, net of cash acquired
($27.5M)
($16.9M)
$0
$193.7M
Disposition of business
$0
$0
$1.3M
($5.3M)
Distributions from joint venture
$0
$0
—
—
Net cash used in investing activities
($29.6M)
($28.6M)
($22.6M)
$176.0M
Proceeds from issuance of long-term debt
$0
$0
$250.0M
—
Repayments of long-term debt
($15.0M)
($15.3M)
($432.6M)
($108.4M)
Proceeds from revolver
$662.5M
$1.3B
$922.8M
$392.0M
Repayments of revolver
($662.5M)
($1.3B)
($922.8M)
($472.9M)
Proceeds from exercise of stock options
$557.0K
$154.0K
$34.0K
$408.0K
Purchase of treasury stock
($30.0M)
—
—
—
Payment of debt issuance costs
($3.9M)
($1.2M)
($8.8M)
($2.3M)
Prepayment premium on early redemption of debt
$0
$0
($1.6M)
—
Payments of employee withholding taxes on share-based compensation
($3.1M)
($8.1M)
($18.0M)
($2.0M)
Net cash used in financing activities
($51.5M)
($24.5M)
($211.0M)
($193.2M)
Exchange rate effect on cash
($255.0K)
($5.4M)
$2.3M
$1.3M
Net change in cash, cash equivalents and restricted cash
$100.7M
$195.7M
($43.4M)
$77.6M
Cash, cash equivalents and restricted cash – beginning of year
$268.3M
$72.7M
$116.1M
$38.5M
Cash, cash equivalents and restricted cash – end of year
$369.0M
$268.3M
$72.7M
$116.1M
Interest paid
$78.3M
$107.6M
$117.5M
$54.3M
Income taxes paid, net of amounts refunded
$9.6M
$8.8M
$8.4M
$13.4M
Purchase of capital assets on account
$1.4M
$22.0K
$3.0M
$2.7M
Purchase of treasury stock on account
$274.0K
—
—
—
V2X Inc cash flow statement, quarters
Line item
Jul 3, 2026 · YTD
Apr 3, 2026 · Q2
Sep 26, 2025 · YTD
Jun 27, 2025 · YTD
Net income
$44.5M
$18.9M
$55.1M
$30.5M
Depreciation expense
$8.1M
$4.0M
$12.5M
$8.2M
Amortization of intangible assets
$45.8M
$22.9M
$67.7M
$45.1M
Amortization of cloud computing arrangements
$2.5M
$1.2M
$3.7M
$2.5M
Loss on disposal of property, plant, and equipment
$5.0K
$3.0K
$826.0K
$325.0K
Stock-based compensation
$8.4M
$3.6M
$9.1M
$6.2M
Deferred taxes
$4.6M
$1.6M
($9.1M)
($4.8M)
Amortization of debt issuance costs
$3.2M
$1.7M
$4.6M
$3.0M
Loss on extinguishment of debt
$1.7M
$0
$2.5M
$2.5M
Receivables
($89.6M)
($90.7M)
($58.5M)
($24.2M)
Other assets
($34.9M)
($5.3M)
($15.5M)
($13.9M)
Accounts payable
($10.7M)
($89.4M)
($63.2M)
($116.9M)
Compensation and other employee benefits
($42.2M)
($6.0M)
($10.6M)
($17.3M)
Other liabilities
($49.8M)
$7.7M
($26.7M)
$11.9M
Net cash used in operating activities
($108.4M)
($129.9M)
($27.5M)
($66.9M)
Purchases of capital assets
($3.4M)
($2.3M)
($9.7M)
($5.2M)
Proceeds from the disposition of assets
$0
$0
$2.3M
$90.0K
Net cash used in investing activities
($3.4M)
($2.3M)
($34.9M)
($5.1M)
Repayments of long-term debt
($37.4M)
($23.7M)
($7.5M)
($3.8M)
Proceeds from revolver
$0
$0
$459.0M
$319.0M
Repayments of revolver
$0
$0
($459.0M)
($319.0M)
Proceeds from stock awards and stock options
142.0K
60.0K
558.0K
77.0K
Payment of debt issuance costs
($1.2M)
$0
($3.9M)
($3.9M)
Payments of employee withholding taxes on stock-based compensation
($5.3M)
($4.8M)
($3.0M)
($3.0M)
Net cash used in financing activities
($43.8M)
($28.4M)
($23.9M)
($10.6M)
Exchange rate effect on cash
$830.0K
$305.0K
$235.0K
$4.8M
Net change in cash, cash equivalents and restricted cash
($154.7M)
($160.3M)
($86.0M)
($77.9M)
Cash, cash equivalents and restricted cash - beginning of period
$369.0M
$369.0M
$268.3M
$268.3M
Cash, cash equivalents and restricted cash - end of period