Slides
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CACI International Inc Q4 FY26 Earnings Conference Call August 6 , 2026 CACI
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2 | There are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that could cause actual results to be materially different from anticipated results. These risk factors include, but are not limited to, the following: our reliance on U.S. government contracts, which includes general risk around the government contract procurement process (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities, such as for homeland security or to address global pandemics; legal, regulatory, and political change from successive presidential administrations that could result in economic uncertainty; changes in U.S. federal agencies, current agreements with other nations, foreign events, or any other events which may affect the global economy, including the impact of global pandemics; the results of government audits and reviews conducted by the Defense Contract Audit Agency, the Defense Contract Management Agency, or other governmental entities with cognizant oversight; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); failure to achieve contract awards in connection with re-competes for present business and/or competition for new business; regional and national economic conditions in the United States and globally, including but not limited to: terrorist activities or war, changes in interest rates, currency fluctuations, significant fluctuations in the equity markets, and market speculation regarding our continued independence; our ability to meet contractual performance obligations, including technologically complex obligations dependent on factors not wholly within our control; limited access to certain facilities required for us to perform our work, including during a global pandemic; changes in tax law, theinterpretation of associated rules and regulations, or any other events impacting our effective tax rate; changes in technology; the potential impact of the announcement or consummation of a proposed transaction and our ability to successfully integrate the operations of our recentand any future acquisitions; our ability to achieve the objectives of near term or long-term business plans; the effects of health epidemics, pandemics and similar outbreaks may have material adverse effects on our business, financial position, results of operations and/or cash flows; andother risks described in our Securities and Exchange Commission filings. Forward-looking statements
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3 | On today’s call John Mengucci President and Chief Executive Officer Jeff MacLauchlan Chief Financial Officer and Treasurer
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4 | Clear and consistent strategy Differentiate using software to solve critical needs Delivering speed, agility, and efficiency Software- defined technology leader Decades of deep mission knowledge We understand what customers need Seven markets served Create value for customers and shareholders Use capital allocation to drive portfolio evolution Flexible and opportunistic capital deployment Our financial results demonstrate that our strategy is working Target narrow, deep funding streams National security company Focused on enduring priorities Show customers the art of the possible Don’t wait for requirements Invest ahead of customer need
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5 | FY26 performance demonstrates earnings power, cash generation, and durability of CACI Predictable organic revenue growth 10.9% revenue growth (7.2% organic) $10 billion of contract awards Profitability supportive of continued investment 12.3% EBITDA1 margin Long-term growth in free cash flow per share and shareholder value $735 million of free cash flow1 68% growth in free cash flow1 per share Flexible and opportunistic capital deployment Strong financial position 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures FY26 highlights
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6 | FY26 accomplishments driving FY27 growth • Spectral achieves Milestone-C and moves into LRIP • SkyValor selected by DoW for southern border deployment and Domestic Shield ($500M) • Expanding tactical EW footprint in the Air Force • ARKA fully integrated • Won significant classified counter-space program • Advanced to phase 3 of the Enterprise Space Terminal (EST) program • Provided critical technology for Artemis II mission • Ramping JTMS modernization program for USTRANSCOM • Delivering integrated, commercial HR solution to OPM supporting 2M users • Modernizing critical national security network infrastructure for the Air Force, Army, and DIA • 1,400+ people embedded across global combatant commands • Intelligence analysis, mission planning, and operational support • Deep mission knowledge informs our investments Leveraging AI across our business to enhance how we work and the outcomes we deliver Electronic Warfare Space Digital & Networking Technology Mission-aligned Operational Support
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7 | Investing in executive talent Dr. Dave Young • Previously led $7 billion national security Space business at Lockheed Martin • Driving cross-business initiatives to drive engineering excellence, program performance, and growth • Previously President of Targeting and Sensor Systems at L3Harris • U.S. Army combat veteran • Driving growth and delivery of technology across all EW customers and programs • Nearly 3 decades of manufacturing and supply chain experience • Previously VP of Operations at L3Harris • Expanding production and technology delivery across the CACI portfolio Dr. Dave Young CACI Chief Operating Officer Tom Kirkand CACI EVP of Electronic Warfare Chris Monoski CACI EVP of Manufacturing • Previously CEO of ARKA Group L.P. • Proven leader of technology businesses in the national security space domain • Driving growth and delivery across our Space business Andreas Nonnenmacher CACI SVP of Space
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8 | • Strong customer demand signals and large, growing budgets • Total addressable market exceeds $300 billion • Increased use of non-traditional procurement methods beneficial to CACI’s strategy • Award activity beginning to improve • CACI well-positioned in markets aligned to enduring, well-funded priorities Macro environment 8 |
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9 | • Revenue growth of 12.4% at the midpoint • EBITDA1 Margin in the “high 12% range” • Free Cash Flow1 per Share growth of approximately 22% • On track to meet or exceed 3-year financial targets FY27 look ahead 9 | 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures
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10 | Strong Performance Q4 financial summary 13.0% EBITDA1 margin (+150 bps YoY) Execution and mix Small UK divestiture gain (30 bps) 17.6% YoY growth (11.6% organic) 15.2% sequential growth Strong Organic Revenue growth Healthy EBITDA1 margin Adjusted EPS1 +6.1% YoY Free Cash Flow1 of $233 million Strong profitability Solid working capital management Higher interest expense Strong operating performance Higher interest expense Normalized tax provision 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures
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11 | FY26 financial summary Record Performance 12.3% EBITDA1 margin (+110 bps YoY) Execution and mix Small UK divestiture gain (10 bps) 10.9% YoY growth (7.2% organic) Strong Organic Revenue growth Healthy EBITDA1 margin Adjusted EPS1 +12.7% YoY Free Cash Flow1 of $735 million 68% growth in free cash flow1 per share Strong profitability Additional capex investment, ARKA- related costs, and tax refund delay Strong operating performance Higher interest expense Normalized tax provision 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures
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12 | 1.0x 1.5x 2.0x 2.5x 3.0x 3.5x 4.0x 4.5x 5.0x Net Leverage (Actuals) Net Leverage (Forecast) Ability to quickly return to target leverage based on consistent financial performance 1 Net debt to trailing-twelve-months (TTM) EBITDA as of June 30, 2026; pro forma includes TTM EBITDA for the ARKA acquisition 2 See slides at the end of this presentation for definitions and reconciliations of non -GAAP measures 3 Net leverage (forecast) is net debt to pro-forma trailing-twelve-months (TTM) EBITDA Strong balance sheet (3.7x pro-forma leverage1); now expect to reach low 3s one quarter early (June 2027), within five quarters of closing ARKA Diversified debt stack Healthy cash flow business, ready access to capital Driving long-term growth in free cash flow2 per share Flexible and opportunistic capital deployment 3 National Se cu r ity Solution s Strategic M&A Capital Returns to Shareholders Internal Investments
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13 | This guidance represents CACI views as of August 5, 2026. Investors are reminded that actual results may differ from these estimates for reasons described in the Company’s Safe Harbor Statement and filings with the SEC. 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures 2 Fiscal year 2027 free cash flow guidance assumes approximately $115 million in cash tax benefits related to Section 174A of the One Big Beautiful Bill Act of 2025 and a $40 million tax refund associated with prior year tax method changes FY27 Guidance Revenue (millions) $10,650 – $10,850 Adjusted Net Income1 (millions) $735 – $755 Adjusted Diluted EPS1 $32.96 – $33.86 Free Cash Flow1,2 (millions) At least $900 Revenue growth of 11.3% to 13.4% (6.1% to 8.2% organic) Acquired revenue of ~$500M Higher organic growth in 2H vs 1H EBITDA1 margin high 12% range Q1 EBITDA1 margin mid-11% range Depreciation and amortization ~$325M Net interest expense ~$288M Tax Rate 23.0% to 24.0% Diluted shares outstanding ~22.3M Capital expenditures of ~$115M Similar percentage of overall free cash flow1 in 1H FY27 as in FY26 (~35%) Q1 the lowest free cash flow1 quarter of the year FY27 guidance
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14 | 1 Established at November 2024 Investor Day 2 3-Year performance based on CACI FY27 guidance as of August 5, 2026, excluding the benefit of the ARKA acquisition. Investors are reminded that actual results may differ from these estimates for reasons described in the Company’s Safe Harbor Statement and filings with the SEC. 3 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures 4 Includes net benefit of ~$215 million from the Section 174 R&D tax credit changes in the One Big Beautiful Bill Act of 2025 3-YEAR TARGETS1 3-YEAR PERFORMANCE2 Revenue 3-Year CAGR High-single digits 9.3% to 10.0% EBITDA3 Margin Mid 11% 11.9% to 12.0% Cumulative Free Cash Flow3 At least $1.6B At least $2.1B4 Free Cash Flow3 3-Year CAGR Greater than 15% Greater than 33%4 3-Year performance Excluding benefit from ARKA
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15 | Positive forward indicators Long-term visibility into our business Trailing 12-months contract awards of $10 billion TTM Book-to-Bill of 1.1x TTM weighted avg. duration of ~6 years Backlog of $32 billion, +2% YoY 29% YoY increase in Funded Backlog Pipeline of submitted bids: $11 billion ~75% for new business Bids expected to be submitted in the next two quarters: $22 billion ~80% for new business 83% Existing Business STRONG Performance 9% Recompetes HIGH Win Rate 8% New Business QUALITY Pipeline FY27 Revenue Composition
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16 | 16 | Closing • Our strategy hasn’t changed, because we knew where our customer needed to go Enduring priorities, differentiated technology, investment ahead of need, consistent execution • Outstanding fiscal 2026 results • Strong fiscal 2027 guidance implies out- performance of 3-year targets • Our strategy is working, our business is stronger, and we are positioned to deliver value for customers and shareholders • 27,000 employees who are Ever Vigilant in expanding the limits of national security 16 |
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17 | Appendix
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18 | Free cash flow and notable cash tax impacts FY25 FY26 FY27E2 Back-to-Back Tax Elections Section 174 R&D Total Notable Cash Impacts Notable Cash Tax Impacts, Total Free Cash Flow 1 40 155 115 – 50 50 (47) (47) – All numbers are in $millions 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measure 2 Estimates based on current expectations and incorporated into fiscal 2027 guidance as of August 5, 2026 ($47) $50 $155 $442 $735 $900
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19 | ▪ Adjusted net income and adjusted diluted EPS are non-GAAP performance measures. We define adjusted net income and adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do not conside r intangible amortization expense to be indicative of our operating performance. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance, provide greater visibility in understanding the long-term financial performance of the Company, and allow investors to more easily compare our results to results of our peers. ▪ The Company views EBITDA and EBITDA margin, both of which are defined as non -GAAP measures, as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. EBITDA is a commonly used non-GAAP measure when comparing our results with those of other companies. We define EBITDA as GAAP net income plus net interest expense, income taxes, and depreciation and amortizati on expense (including depreciation within direct costs). We consider EBITDA to be a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business on a consistent basis across reporting periods, as it eliminates the effect of non-cash items such as depreciation of tangible assets and amortization of intangible assets primarily recognized in business combinations, which we do not believe are indicative of our operating perf ormance. EBITDA margin is EBITDA divided by revenue. ▪ The Company defines net cash provided by operating activities excluding MARPA, a non -GAAP measure, as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude cash flows from CACI’s MARPA for the sale of certain designated eligible U.S. government receivables up to a maximum amount of $350.0 million. Free cash flow is a non-GAAP liquidity measure and may not be comparable to similarly titled measures used by other companies. The Company defines free cash flow as net cash provided by operating activities excluding MARPA, less payments for capital expenditures. The Company uses these non- GAAP measures to assess our ability to generate cash from our business operations and plan for future operating and capital actions. We believe these measures allow investors to more easily compare current period results to prior period results and to results of our peers. Free cash flow does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP. ▪ These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP. Definitions of non-GAAP measures
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20 | Reconciliation of net income to adjusted net income and diluted EPS to adjusted diluted EPS (unaudited) These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP. (in thousands, except per share data) 6/30/2026 6/30/2025 % Change 6/30/2026 6/30/2025 % Change Net income, as reported 156,750$ 157,855$ (0.7)% 535,808$ 499,830$ 7.2 % Intangible amortization expense 55,296 37,405 47.8 % 168,336 124,618 35.1 % Tax effect of intangible amortization 1 (13,971) (9,451) 47.8 % (42,532) (31,486) 35.1 % Adjusted net income 198,075$ 185,809$ 6.6 % 661,612$ 592,962$ 11.6 % 6/30/2026 6/30/2025 % Change 6/30/2026 6/30/2025 % Change Diluted EPS, as reported 7.05$ 7.14$ (1.3)% 24.16$ 22.32$ 8.2 % Intangible amortization expense 2.49 1.69 47.3 % 7.59 5.57 36.3 % Tax effect of intangible amortization 1 (0.63) (0.43) 46.5 % (1.92) (1.41) 36.2 % Adjusted diluted EPS 8.91$ 8.40$ 6.1 % 29.83$ 26.48$ 12.7 % (in millions, except per share data) Low End High End Net income, as reported 574$ --- 594$ Intangible amortization expense 215 --- 215 Tax effect of intangible amortization 1 (54) --- (54) Adjusted net income 735$ --- 755$ Low End High End Diluted EPS, as reported 25.74$ --- 26.64$ Intangible amortization expense 9.64 --- 9.64 Tax effect of intangible amortization 1 (2.42) --- (2.42) Adjusted diluted EPS 32.96$ --- 33.86$ (1) Calculation uses an assumed full year statutory tax rate of 25.3% on non-GAAP tax deductible adjustments for June 30, 2026 and 2025. Note: Numbers may not sum due to rounding. Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended FY27 Current Guidance Range FY27 Current Guidance Range
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21 | Reconciliation of net income to earnings before interest, taxes, depreciation and amortization (EBITDA) (unaudited) These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP.
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22 | (in thousands) 6/30/2026 6/30/2025 6/30/2026 6/30/2025 Net cash provided by operating activities 378,266$ 155,982$ 886,710$ 547,009$ Cash (provided by) used in MARPA (98,606) 11,091 (44,624) (38,909) Net cash provided by operating activities excluding MARPA 279,660 167,073 842,086 508,100 Capital expenditures (46,777) (27,963) (106,653) (65,603) Free cash flow 232,883$ 139,110$ 735,433$ 442,497$ FY27 Guidance (in millions, except per share data) Current Net cash provided by operating activities 1,015$ Cash (provided by) used in MARPA - Net cash provided by operating activities excluding MARPA 1,015 Capital Expenditures (115) Free cash flow 900$ Three Months Ended Twelve Months Ended Reconciliation of net cash provided by operating activities to net cash provided by operating activities excluding MARPA, and to free cash flow (unaudited) These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP.