CACI International Inc Reports 11.8% Revenue Growth to $2.17 Billion in Q3

CACI International Inc reported significant financial performance for the third quarter and nine months ended March 31, 2025, with revenues reaching $2.17 billion, an increase of 11.8% from $1.94 billion in the same period last year. For the nine-month period, revenues totaled $6.32 billion, up 12.5% from $5.62 billion. The company's net income for the quarter was $111.86 million, a slight decrease from $115.35 million in the prior year, while net income for the nine months rose to $341.98 million from $285.27 million, reflecting a 19.9% increase.

The increase in revenue was primarily driven by new contract awards and growth in existing programs, bolstered by two acquisitions completed during the fiscal year. CACI acquired Applied Insight for approximately $314.2 million and Azure Summit Technology for about $1.31 billion, enhancing its capabilities in cloud migration and radio frequency technology, respectively. These acquisitions contributed to a notable increase in goodwill and intangible assets on the balance sheet, with goodwill rising to $4.94 billion from $4.15 billion.

Operationally, CACI's domestic revenues surged to $2.11 billion, a 12.1% increase year-over-year, while international revenues remained relatively stable at $61.86 million. The Department of Defense accounted for a significant portion of revenue, generating $1.65 billion, up 13.8% from the previous year. The company reported a total backlog of $31.4 billion, a 9.8% increase from $28.6 billion a year ago, indicating strong future revenue potential.

The company’s total assets increased to $8.58 billion, up from $6.80 billion, driven by higher cash reserves and accounts receivable. CACI's employee headcount also grew, reflecting the need for additional personnel to support its expanding operations. The company reported a total of $3.11 billion in long-term debt, significantly up from $1.54 billion, primarily due to financing for the recent acquisitions.

Looking ahead, CACI remains optimistic about its growth trajectory, citing a stable U.S. government budget environment and increased demand for its services in national security and technology sectors. The company anticipates continued revenue growth driven by its strategic acquisitions and a strong pipeline of government contracts. However, it also acknowledges potential risks related to government procurement processes and market conditions that could impact future performance.