V2X Inc 2024年度报告

LETTER TO OUR SHAREHOLDERS Our 2024 performance demonstrates the value V2X brings to its customers, our positioningin key theaters, alignment to missions of high consequence, and ability to execute on ourcommitments to shareholders. I’d like to recognize the over 16,000 V2X employees for all their contributions through theyear, which resulted in V2X meeting or exceeding all financial commitments. We thank youfor all you have done and continue to do for our nation and our company. The combination of our unique mission insight, comprehensive full-lifecycle capabilities,and 80-year reputation as a trusted partner are driving top-line growth with revenueincreasing 9% in 2024. Additionally, our momentum in the Indo-Pacific region continued in2024, with revenue growing 24% year-over-year. This expansion was tied to the Departmentof Defense (DoD) and its focus on enhancing U.S. readiness in the region. We believe V2X iswell positioned for additional opportunities that support increasing mission requirementsand strategic initiatives in the region. Our focus on growth and delivering full-spectrum capabilities across the mission lifecycle is yielding results with V2Xsecuring contract wins valued at over $5.5 billion in 2024. This achievement provides a strong foundation for drivingcontinued revenue, cash flow, and value for our shareholders. V2X’s ability to generate strong cash flow with low capital expenditures is an important attribute of our business. In 2024,we demonstrated excellent performance on this front, reducing net debt by $210 million year-over-year. This achievementprovides significant flexibility and optionality for V2X in 2025 and beyond. Looking ahead, we believe our track record of enhancing outcomes and increasing value for customers throughinnovation, modernization, and improved operational performance can help prepare the DoD to solve current challengesand address future threats. We are excited about the future. We believe the trends and leading indicators in our business remain strong with a $12.5billion backlog, limited recompetes, robust pipeline of new opportunities, and a large addressable market. In summary, 2024 was a milestone year for V2X, marked by significant achievements and new records that lay agreat foundation for the future. We are capitalizing on the breadth and depth of the portfolio and see tremendousopportunities as we move from integration to optimization. I’d like to once again thank our employees for theircommitment to our company and our customers’ missions. I also want to thank our customers for choosing V2X as atrusted partner and to you, our shareholders, for your continued support. Jeremy C. WensingerPresident and Chief Executive Officer Safe Harbor Statement Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the PrivateSecurities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology such as“may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “could,” “potential,” “continue” or similar terminology. These forward-looking statementsinclude, but are not limited to, statements about the revenue and other Company growth; cash generation and cash flow; expenditures; demand for theCompany’s business; backlog; our strategic framework; capital expenditures and structure; contract opportunities; bids; awards and business pipeline;intentions or goals; enhanced capabilities; and any discussion of future operating or financial performance or outcomes. These statements are based onthe beliefs and assumptions of our management based on information currently available to management. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks,uncertainties, assumptions, and other important factors, many of which are outside our management’s control, which could cause actual results todiffer materially from the results discussed in the forward-looking statements. In addition, forward-looking statements are subject to certain risks anduncertainties that could cause actual results to differ materially from the Company’s historical experience and our present expectations or projections.These risks and uncertainties include, but are not limited to, the risk factors set forth in Part I, Item 1A, “Risk Factors,” and elsewhere in our most recentAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC. We undertake no obligation to update any forward-lookingstatements, whether as a result of new information, future events or otherwise, except as required by law. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) �ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 20