Maximus, Inc. reported a revenue increase of 2.4% for the fiscal year ending September 30, 2025, reaching $5.43 billion, compared to $5.31 billion in the previous year. The company's gross profit also rose by 6.5% to $1.33 billion, resulting in a gross profit margin of 24.6%, up from 23.6% in fiscal 2024. Operating income improved to $528.3 million, reflecting an operating margin of 9.7%, compared to 9.2% in the prior year. Net income for the year was $319 million, or $5.51 per diluted share, compared to $306.9 million, or $4.99 per diluted share, in fiscal 2024.
The company experienced significant changes in its business structure, including the divestiture of its operations in Australia and Korea, which contributed to a loss but ultimately streamlined its international operations. This strategic decision, along with organic growth primarily in the U.S. Federal Services Segment, helped bolster overall performance. The U.S. Federal Services Segment generated $3.07 billion in revenue, a 12.1% increase from the previous year, driven by clinical programs and support for the Federal Emergency Management Agency (FEMA). In contrast, the U.S. Services Segment saw a revenue decline of 7.7% to $1.76 billion, attributed to the conclusion of heightened Medicaid redetermination activities.
Maximus reported a total backlog of $15.3 billion as of September 30, 2025, down from $16.2 billion the previous year. The backlog is primarily composed of contracts with U.S. federal and state agencies, with approximately 57% expected to be recognized as revenue within the next 12 months. The company also noted a workforce of approximately 37,200 employees, with a focus on attracting and retaining talent to support its growth initiatives.
Looking ahead, Maximus anticipates continued growth in its U.S. Federal Services Segment, with operating margins projected to range between 15.5% and 16% for fiscal year 2026. The company is also preparing for potential changes in state-based programs due to the One Big Beautiful Bill Act (OBBBA), which may impact its U.S. Services Segment. Overall, Maximus remains committed to leveraging technology and enhancing service delivery to government clients while navigating the complexities of the regulatory environment.
About MAXIMUS, INC.
Maximus, Inc. provides government-focused health and human services solutions, including program operations, clinical assessments, and technology modernization. Serving federal, state, and international markets, it leverages digital engagement, AI, and analytics to improve service delivery and outcomes. With a strong emphasis on compliance, cybersecurity, and workforce development, Maximus aims to enhance government efficiency, citizen experience, and community well-being through innovative, scalable solutions.
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