Army was V2X’s largest revenue line in fiscal 2025, bringing in $1.83B of $4.48B (41%).
| Customer | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Army | $1.34B | $1.63B | $1.84B | $1.83B | |||||||
| Government Customers | — | — | — | — | |||||||
| Navy | $713.73M | $1.23B | $1.44B | $1.48B | |||||||
| Air Force | $459.85M | $538.70M | $481.27M | $570.66M | |||||||
| Other | $374.87M | $557.44M | $561.69M | $600.58M | |||||||
| Total | $2.89B | $3.96B | $4.32B | $4.48B |
V2X brought in $4.48B from its four revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 3.7% from $4.32B in fiscal 2024. Army was the largest at $1.83B (40.8%), ahead of Navy at $1.48B (33.0%) and Other at $600.58M (13.4%). The remaining revenue line, Air Force, brought in $570.66M.
Compared with fiscal 2024, Air Force grew fastest, up 18.6% to $570.66M, while Army fell the most, down 0.5% to $1.83B. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $2.89B to $4.48B, a compound annual growth rate of 15.7%. Army's share of the total fell from 46.4% to 40.8%.
United States was V2X’s largest region in fiscal 2025, bringing in $2.61B of $4.48B (58%).
| Geography | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.49B | $2.29B | $2.39B | $2.61B | ||||||
| Middle East | $1.02B | $1.19B | $1.40B | $1.35B | ||||||
| Asia | $167.63M | $264.35M | $326.96M | $313.02M | ||||||
| Europe | $204.30M | $219.13M | $207.16M | $206.44M | ||||||
| Total | $2.89B | $3.96B | $4.32B | $4.48B |
V2X brought in $4.48B from its four regions in fiscal 2025, the year ended December 31, 2025. That was up 3.7% from $4.32B in fiscal 2024. United States was the largest at $2.61B (58.2%), ahead of Middle East at $1.35B (30.2%) and Asia at $313.02M (7.0%). The remaining region, Europe, brought in $206.44M.
Compared with fiscal 2024, United States grew fastest, up 9.2% to $2.61B, while Asia fell the most, down 4.3% to $313.02M. From fiscal 2022 to 2025, combined revenue from these regions grew from $2.89B to $4.48B, a compound annual growth rate of 15.7%. United States' share of the total rose from 51.7% to 58.2%.
Cost-Plus & Cost-Reimbursable was V2X’s largest revenue line in fiscal 2025, bringing in $2.74B of $4.48B (61%).
| Contract with Customer, Basis of Pricing | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost-Plus & Cost-Reimbursable | $1.63B | $2.21B | $2.53B | $2.74B | ||||||
| Firm-Fixed-Price | $1.16B | $1.63B | $1.68B | $1.61B | ||||||
| Time-&-Materials | $105.92M | $127.62M | $114.76M | $126.26M | ||||||
| Time & Material | — | — | — | — | ||||||
| Total | $2.89B | $3.96B | $4.32B | $4.48B |
V2X brought in $4.48B from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 3.7% from $4.32B in fiscal 2024. Cost-Plus & Cost-Reimbursable was the largest at $2.74B (61.3%), ahead of Firm-Fixed-Price at $1.61B (35.9%) and Time-&-Materials at $126.26M (2.8%).
Compared with fiscal 2024, Time-&-Materials grew fastest, up 10.0% to $126.26M, while Firm-Fixed-Price fell the most, down 4.0% to $1.61B. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $2.89B to $4.48B, a compound annual growth rate of 15.7%. Cost-Plus & Cost-Reimbursable's share of the total rose from 56.2% to 61.3%.
V2X (VVX) reports its revenue by customer, by geography and by contract with customer, basis of pricing. In fiscal 2025, Army was its largest revenue line, bringing in $1.83B (40.8% of the total), followed by Navy at $1.48B (33.0%).
Army was V2X's largest revenue line in fiscal 2025, bringing in $1.83B, or 40.8% of the $4.48B total across its four revenue lines.
United States was V2X's largest region in fiscal 2025, bringing in $2.61B, or 58.2% of the $4.48B total across its four regions.
Among V2X's revenue lines that make up at least 2% of revenue, Air Force grew fastest in fiscal 2025, up 18.6% from $481.27M to $570.66M.
Every figure comes from V2X's annual financial filings, as reported. Each line keeps the name V2X gives it, and years follow its fiscal calendar.
V2X's revenue by customer goes back to fiscal 2015, 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.