Government services · VVX
V2X (VVX) gets 96% of its revenue from the U.S. government
What V2X reports in its FY2025 10-K, and what federal contract records show.
Summary
V2X reported that 96% of its FY2025 revenue came from the U.S. government: about $4.30B by our calculation of $4.48B in total. That ranks 4th of the 30 companies we cover that disclose a share.
Federal agencies obligated $3.27B in prime contracts to the 6 recipient records we matched to V2X in federal fiscal year 2025, 89.5% of it from the Department of Defense. That is 0.76 times the U.S. government revenue the company reports.
Share of revenue over time
We have one reviewed year of V2X's share so far. Earlier years are being checked against each 10-K and will be added after review.
| Fiscal year | U.S. gov share | U.S. gov revenue | Total revenue | Source |
|---|---|---|---|---|
| FY2025 | 96% | $4.30B | $4.48B | 10-K |
What V2X counts as government revenue
- Definition used
- U.S. government
- Foreign military sales
- Not applicable
- Subcontract work
- Not stated
- Adjusted ex-FMS share
- Same as reported
“We derive 96% of our revenue from work performed under U.S. government contracts, primarily the DoW, either as a prime contractor or as a subcontractor to other contractors engaged in …”
V2X, FY2025 Form 10-K · read the filing
The contract record
Prime contract obligations on USAspending.gov for the 6 recipient records we matched to V2X (obligations are not revenue).
In FFY2025, 89.5% of these obligations came from the Department of Defense and 10.5% from civilian agencies.
Contract obligations by awarding agency, FFY2025
Top 8 awarding sub-agencies; the rest grouped as Other.
| Awarding agency | Obligations | Share |
|---|---|---|
| Department of the Army | $1.40B | 42.7% |
| Department of the Navy | $771M | 23.5% |
| Defense Contract Management Agency | $494M | 15.1% |
| Department of the Air Force | $252M | 7.7% |
| Federal Acquisition Service | $247M | 7.5% |
| Drug Enforcement Administration | $30.7M | 0.9% |
| Transportation Security Administration | $28.7M | 0.9% |
| Department of State | $19.3M | 0.6% |
| Other | $34.1M | 1% |
Obligations by federal fiscal year
| Federal fiscal year | Obligations | Note |
|---|---|---|
| FFY2026 | $2.85B | preliminary DoD data posts with a 90-day delay |
| FFY2025 | $3.27B | Matched to FY2025 |
| FFY2024 | $2.93B | |
| FFY2023 | $3.17B | |
| FFY2022 | $2.54B | |
| FFY2021 | $2.59B |
Largest contracts active in FFY2025
Ranked by total obligated value to date on each award (all years), among awards with activity in FFY2025. Links open the award on USAspending.gov.
| Award | Agency | Description | Obligated to date | Period |
|---|---|---|---|---|
| W52P1J10C0062V2x Systems Llc | Department of the Army | KUWAIT BASE OPERATIONS AND SECURITY SUPPORT SERVICES | $4.82B | 2010–2023 |
| W52P1J19F0400V2x Systems Llc | Department of the Army | LOGISTICS CIVIL AUGMENTATION PROGRAM (LOGCAP) V SUPPORT SERVICES IN KUWAIT | $2.27B | 2019–2026 |
| N6852022F7005V2x Aerospace Llc | Defense Contract Management Agency | T45 CLS CMMARS TASK ORDER, MATERIALS - AIRCRAFT MAINTENANCE | $1.68B | 2021–2026 |
| W52P1J19F0402V2x Systems Llc | Department of the Army | LOGISTICS CIVIL AUGMENTATION PROGRAM (LOGCAP) V AWARD FOR IRAQ. | $1.53B | 2019–2026 |
| W91RUS13C0006V2x Systems Llc | Department of the Army | OPERATIONS, MAINTENANCE, AND DEFENSE OF ARMY COMMUNICATIONS IN SOUTHWEST ASIA AND CENTRAL ASIA (OMDAC-SWACA). | $1.30B | 2013–2021 |
| W52P1J19F0398V2x Systems Llc | Department of the Army | LOGISTICS CIVIL AUGUMENTATION PROGRAM (LOGCAP) V AWARD FOR PACOM-KWAJALEIN. | $932M | 2019–2027 |
| N0001921F0094V2x Aerospace Llc | Department of the Navy | E-6B CONTRACTOR LOGISTICS SUPPORT (CLS) FOLLOW-ON TASK ORDER | $744M | 2021–2027 |
| W91RUS21C0001V2x Systems Llc | Department of the Army | OPERATIONS, MAINTENANCE, AND DEFENSE OF ARMY COMMUNICATIONS (OMDAC) IN SOUTHWEST ASIA AND CENTRAL ASIA IN SUPPORT OF THE UNITED STATES… | $631M | 2020–2026 |
| 47QFCA24F0033V2x Aerospace Llc | Federal Acquisition Service | WARFIGHTER TRAINING READINESS SOLUTIONS W-TRS | $625M | 2024–2027 |
| 0001V2x Systems Llc | Department of the Army | No description on file | $602M | 2016–2027 |
Recipients we matched to V2X
These USAspending recipient records are rolled into the figures above. Readers can check each one; if a match looks wrong, tell us.
| Recipient name | UEI | How matched | FFY2025 obligations |
|---|---|---|---|
| V2X SYSTEMS LLC | RRFJZGASZJ41 | USAspending parentV2X, INC. | $1.69B |
| V2X AEROSPACE LLC | NVC1EFKKYB93 | USAspending parentV2X AEROSPACE LLC | $1.54B |
| VECTRUS SYSTEMS LLC | ZRJLSH4K9NL3 | USAspending parentVECTRUS SYSTEMS LLC | — |
| V2X SYSTEMS LLC | EK2CM5J7DWM8 | USAspending parentV2X, INC. | — |
| VECTRUS SERVICES A/S | U98PD5949RN7 | USAspending parentV2X, INC. | — |
| VECTRUS FEDERAL SERVICES GMBH | U3CKAAKK47L7 | USAspending parentVECTRUS FEDERAL SERVICES GMBH | $45.2M |
Peers
| Company | Sector | U.S. gov share | Total revenue |
|---|---|---|---|
| VVXV2X | Government services | 96% | $4.48B |
| MMSMaximus | Government services | 55% | $5.43B |
| PSNParsons | Government services | not disclosed | $6.36B |
| ICFIICF International | Government services | 43% | $1.87B |
| SAICScience Applications International | Government services | 98% | $7.26B |
| KBRKBR | Government services | 57% | $7.79B |
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Sources
- V2X, FY2025 annual report (U.S. government share) (accessed October 15, 2026)
- SEC XBRL company facts for V2X (revenue history) (accessed October 16, 2026)
- USAspending.gov recipient profile: V2X Systems Llc (accessed October 16, 2026)
- USAspending.gov API, prime contract awards (award types A–D) (accessed October 16, 2026)
- Federal Exposure methodology