Department Of Health & Human Services was DLH Holdings’s largest revenue line in fiscal 2025, bringing in $171.72M of $344.50M (50%).
| Concentration Risk Benchmark | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Department Of Health & Human Services | $102.20M | $161.31M | $184.54M | $171.72M | |||
| Department Of Veterans Affairs | $126.11M | $138.86M | $139.95M | $116.42M | |||
| Department Of Homeland Security | $126.58M | — | — | — | |||
| Department Of Defense | $33.61M | $70.33M | $64.13M | $53.24M | |||
| Other | $6.68M | $5.37M | $7.32M | $3.12M | |||
| Total | $395.17M | $375.87M | $395.94M | $344.50M |
DLH Holdings brought in $344.50M from its four revenue lines in fiscal 2025, the year ended September 30, 2025. That was down 13.0% from $395.94M in fiscal 2024. Department Of Health & Human Services was the largest at $171.72M (49.8%), ahead of Department Of Veterans Affairs at $116.42M (33.8%) and Department Of Defense at $53.24M (15.5%). The remaining revenue line, Other, brought in $3.12M.
Compared with fiscal 2024, every revenue line above 2% of revenue shrank. Department Of Health & Human Services held up best, down 7.0% to $171.72M, and Department Of Defense fell the most, down 17.0% to $53.24M.
DLH Holdings stopped reporting Department Of Homeland Security as a separate revenue line after fiscal 2022, when it brought in $126.58M.
Time & Materials was DLH Holdings’s largest revenue line in fiscal 2025, bringing in $177.07M of $344.50M (51%).
| Contract with Customer, Basis of Pricing | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Time & Materials | $308.94M | $209.95M | $215.34M | $177.07M | |||
| Cost-Plus Fixed-Fee Contract | $46.23M | $81.80M | $79.48M | $73.68M | |||
| Firm Fixed Price | $40.00M | $84.12M | $101.12M | $93.75M | |||
| Total | $395.17M | $375.87M | $395.94M | $344.50M |
DLH Holdings brought in $344.50M from its three revenue lines in fiscal 2025, the year ended September 30, 2025. That was down 13.0% from $395.94M in fiscal 2024. Time & Materials was the largest at $177.07M (51.4%), ahead of Firm Fixed Price at $93.75M (27.2%) and Cost-Plus Fixed-Fee Contract at $73.68M (21.4%).
Compared with fiscal 2024, every revenue line above 2% of revenue shrank. Firm Fixed Price held up best, down 7.3% to $93.75M, and Time & Materials fell the most, down 17.8% to $177.07M. From fiscal 2022 to 2025, combined revenue from these revenue lines fell from $395.17M to $344.50M, a compound annual decline of 4.5%. Time & Materials' share of the total fell from 78.2% to 51.4%.
Prime Contractor was DLH Holdings’s largest revenue line in fiscal 2025, bringing in $315.51M of $344.50M (92%).
| Contract with Customer, Sales Channel | FY 2019 | FY 2020 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Prime Contractor | $366.57M | $356.79M | $355.15M | $315.51M | ||
| Subcontractor | $28.60M | $19.08M | $40.79M | $28.99M | ||
| Total | $395.17M | $375.87M | $395.94M | $344.50M |
DLH Holdings brought in $344.50M from its two revenue lines in fiscal 2025, the year ended September 30, 2025. That was down 13.0% from $395.94M in fiscal 2024. Prime Contractor was the largest at $315.51M (91.6%), ahead of Subcontractor at $28.99M (8.4%).
Compared with fiscal 2024, Prime Contractor fell 11.2% to $315.51M and Subcontractor fell 28.9% to $28.99M. From fiscal 2022 to 2025, combined revenue from these revenue lines fell from $395.17M to $344.50M, a compound annual decline of 4.5%. Prime Contractor's share of the total fell from 92.8% to 91.6%.
DLH Holdings (DLHC) reports its revenue by concentration risk benchmark, by contract with customer, basis of pricing and by contract with customer, sales channel. In fiscal 2025, Department Of Health & Human Services was its largest revenue line, bringing in $171.72M (49.8% of the total), followed by Department Of Veterans Affairs at $116.42M (33.8%).
Department Of Health & Human Services was DLH Holdings' largest revenue line in fiscal 2025, bringing in $171.72M, or 49.8% of the $344.50M total across its four revenue lines.
Every figure comes from DLH Holdings' annual financial filings, as reported. Each line keeps the name DLH Holdings gives it, and years follow its fiscal calendar.
DLH Holdings' revenue by concentration risk benchmark goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.