DLH Holdings Corp
dlhcorp.comWhat Do They Do?
Provides digital and cybersecurity services, scientific research, and systems engineering to civilian and military agencies of the U.S. federal government.
10-K for FY2025, filed Dec 10, 2025DLH Holdings Corp. ("DLH") delivers improved health and readiness solutions for federal government customers through digital transformation…View ↗
We primarily focus on improved deployment of large-scale, technology-powered health and defense initiatives for multiple agencies within…View ↗
Digital Transformation and Cyber Security; Science Research and Development; and Systems Engineering and IntegrationView ↗
How Do They Make Money?
Federal agencies pay DLH for services under time-and-materials, cost-reimbursable, and fixed-price contracts. DLH bills for hours and materials as delivered, costs as they arise on reimbursable work, and fixed-price work across the contract period.
10-K for FY2025, filed Dec 10, 2025The Company's revenues from contracts with customers are derived from offerings that include technology-enabled business process…View ↗
For service contracts, we satisfy our performance obligations as services are rendered. We use cost-based input and time-based output…View ↗
Time and material - We bill the customer per labor hour and per material, and revenue is recognized in the amount invoiced as the amount…View ↗
Contract assets - Amounts are invoiced as work progresses in accordance with agreed-upon contractual terms. In part, revenue recognition…View ↗
$344.5M
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10-K for FY2025, filed Dec 10, 2025
$344.5M ↗
Who Are Their Customers?
Federal agencies buy DLH's services mainly through prime contracts awarded by competitive bidding; DLH also provides services as a subcontractor to federal prime contractors.
10-K for FY2025, filed Dec 10, 2025We primarily focus on improved deployment of large-scale, technology-powered health and defense initiatives for multiple agencies within…View ↗
We deliver services primarily through prime contracts awarded by the federal government through competitive bidding processes. We have a…View ↗
At present, we derive 99% of our revenue from agencies of the Federal government, primarily as a prime contractor but also as a…View ↗
10-K for FY2025, filed Dec 10, 2025
2025 2024 Revenue Percent of total revenue Revenue Percent of total revenue Department of Health and Human Services $ 171,717 49.8 % $…View ↗
Do Revenues Turn Into Profits?
Yes. It kept less than a cent of every revenue dollar as net income in FY2025 and turned 7 cents into free cash flow.
10-K for FY2025, filed Dec 10, 2025
$16.8MView ↗
10-K for FY2025, filed Dec 10, 2025
$1.4MView ↗
10-K for FY2025, filed Dec 10, 2025
$23MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q3 FY2026, filed Jul 29, 2026
−$16.8MView ↗
- ▼ Now a loss
- vs $289K in Q3 FY2025
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Aug 25, 2026
Former CEO's separation and advisory arrangements finalized
Parker's employment ended; he remains a director and will provide transition advisory and consulting services.
Sources
8-K, filed Aug 25, 2026
In accordance with the Separation Agreement, Mr. Parker’s employment and all officer and employee positions with the Company ended…View ↗
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Jul 6, 2026
CFO appointed CEO after Parker resigned
Kathryn M. JohnBull became CEO, and Steven V. Oroho, Jr. was appointed CFO.
Sources
8-K, filed Jul 6, 2026
On June 29, 2026, Zachary C. Parker notified DLH Holdings Corp. (the “Company”) of his decision to resign as President and Chief Executive…View ↗
Growing. Revenue grew 40% in 4 years, from $246.1M in FY2021 to $344.5M in FY2025, about 9% a year.
Who Do They Compete With?
Competes with Accenture Federal Services, BAE Systems, Booz Allen Hamilton, CACI International, Deloitte, ECS Federal, The Emmes, General Dynamics Information Technology, Guidehouse, IBM Federal, ICF International, Information Management Services, Leidos Holdings, LMI Consulting, ManTech International, NexGen Data Systems, Peraton, PPD, Scientific Research, and Rho
10-K for FY2025, filed Dec 10, 2025Our competitors include operating units within: Accenture Federal Services LLC, BAE Systems plc, Booz Allen Hamilton Holding Corp., CACI…View ↗
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