V2X revenue +16.5% on national security work; controls remediated; Kuwait contract cut $415M

Filed August 3, 2026 · Period ending July 3, 2026 · Compared to 10-Q Aug 4, 2025 · ~2 min read

Key Changes

• high

  Material weaknesses in internal controls (originating from 2022 Vertex acquisition) remediated; disclosure controls now effective as of July 3, 2026, completing planned remediation ahead of schedule.

  Controls & Procedures verify on EDGAR →
• high

  U.S. Army reduced LOGCAP V Kuwait scope on May 12, 2026, cutting backlog $414.6M and extending revised scope only through Dec 31, 2026 (vs. prior expectation through June 2030). Contract generated $441.6M (9.9% of FY25 revenue).

  Risk Factors / MD&A: LOGCAP Kuwait view on EDGAR →
• high

  Revenue grew 16.5% YoY to $1.3B on program ramp-ups (global training, aerospace) and $101.6M from discrete national security activities; operating income +2% as 30% SG&A increase (M&A evaluation, integration costs) compressed margin to 4.3% from 4.9%.

  MD&A: Revenue & Operating Income verify on EDGAR →