Leidos Holdings, Inc. reported a notable increase in financial performance for the second quarter of fiscal 2025, with revenues reaching $4.253 billion, a 2.9% increase from $4.132 billion in the same period last year. For the first half of the fiscal year, revenues totaled $8.498 billion, up 4.8% from $8.107 billion in the prior year. The company’s operating income also saw a significant rise, increasing by 20.2% to $571 million for the quarter and 23.7% to $1.101 billion for the six-month period. Net income attributable to Leidos common stockholders was $391 million for the quarter, reflecting a 21.4% increase compared to $322 million in the previous year.
The company experienced several strategic developments during this period, including the acquisition of Savanna Industries, Inc. (Kudu Dynamics) for approximately $291 million, which contributed $12 million in revenue. This acquisition enhances Leidos' capabilities in artificial intelligence and cyber operations, particularly for defense and homeland security customers. Additionally, the company reported a favorable impact from program wins and increased volumes on certain contracts, which contributed to the overall revenue growth despite the completion of some programs.
Operationally, Leidos reported a total headcount of approximately 47,000 employees, with a significant portion of its revenue—87%—coming from U.S. government contracts. The company’s backlog as of July 4, 2025, was valued at $46.2 billion, an increase from $41.6 billion a year earlier, indicating strong future revenue potential. The company also noted a decrease in its cash and cash equivalents to $930 million from $849 million at the beginning of the year, while total assets increased to $13.549 billion from $13.010 billion.
The filing also highlighted changes in tax legislation that could impact future earnings. The enactment of the One Big Beautiful Bill Act (OBBBA) is expected to reduce income taxes payable by approximately $280 million in fiscal 2025. This legislative change, along with the company's strategic acquisitions and operational efficiencies, positions Leidos favorably for continued growth. Looking ahead, the company anticipates maintaining its liquidity needs through cash generated from operations and available credit facilities, while also planning for potential future investments and share repurchases.
About Leidos Holdings, Inc.
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