VSECVSE Corporation

$5B

Q3 2025 Earnings

Industrials Aerospace & Defense

Income Statement

Revenue

$283M+38.9% YoY

Gross Profit

$34M12.0% margin

Operating Income

$33M11.8% margin

Net Income

$4M1.3% margin

EPS (Diluted)

$0.19

QoQ Revenue Growth

+4.0%

Cash Flow

Operating Cash Flow

$24M

Free Cash Flow

$18M

Stock-Based Comp.

$0

Balance Sheet

Total Assets

$1.6B

Total Liabilities

$577M

Stockholders' Equity

$983M

Cash & Equivalents

$9M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$283M	$204M	+38.9%
Gross Profit	$34M	$22M	+55.1%
Operating Income	$33M	$21M	+61.1%
Net Income	$4M	$12M	-67.8%

Revenue Segments

Product

$176M62%

Service

$107M38%

VSEC Q3 2025 Earnings — VSE Corporation Revenue & Financial Results | Market Cap Arena