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V2X Records $978M in Revenue for Q2 2023

Quarterly financial

report

V2X Records $978M in Revenue for Q2 2023

V2X recorded $977.9 million in revenue in the second quarter of 2023, representing a 10.2 percent on-year increase.

Chuck Prow, president and CEO of V2X and a 2023 Wash100 winner, said revenue growth was made possible by new contract awards, program expansions and $520 million in successful military contract recompetes. Prow, a 4×24 member, noted that the company’s support services for the Indo-Pacific are continuing to grow and that long-term opportunities are available in that region.

Contract wins include a five-year, $100 million task order for logistics support for the Department of State and other engineering job orders.

Other financial results include $2.1 billion in bookings and $34.3 million in reported operating income, V2X said.

The company’s most recent award is a spot on the U.S. Air Force’s $32.5 billion Training Systems Acquisition IV indefinite-delivery/indefinite-quantity contract. The IDIQ allows V2X to compete for task orders to develop, install and support various training systems, work that Prow said the company has significant experience in.

V2X was formed in 2022 following Vectrus’ merger with Vertex.

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