Revenue: As of FY2026 Q1, the actual value is USD 68.89 M, missing the estimate of USD 70.15 M.EPS: As of FY2026 Q1, the actual value is USD -0.09, missing the estimate of USD -0.07.EBIT: As of FY2026 Q1, the actual value is USD 1.436 M.<h4>Operational Metrics</h4><ul><li>Revenue: DLH Holdings Corp. reported $68.9 million for the three months ended December 31, 2025, which is a decrease of 24.1% from $90.8 million in the prior year period, reflecting the transition of certain programs to small-business set-aside contractors.</li><li>Income from Operations: Income from operations was $1.4 million for the three months ended December 31, 2025, marking a 75.0% decrease from $5.6 million in the same period of the prior year.</li><li>Net (Loss) Income: The company reported a net loss of -$1.3 million for the three months ended December 31, 2025, compared to a net income of $1.1 million in the prior year, representing a 218.2% decrease.</li><li>EBITDA: EBITDA was $5.7 million for the three months ended December 31, 2025, down 42.4% from $9.9 million in the prior year.</li><li>Adjusted EBITDA: Adjusted EBITDA for the three months ended December 31, 2025, was $6.5 million, or 9.5% of revenue, a 34.3% decrease from $9.9 million in the prior year period, attributed to the company’s initiatives to reduce costs and streamline operations.</li><li>EBITDA Margin on Revenue: EBITDA margin was 8.3% for the three months ended December 31, 2025, compared to 11.0% in the prior year.</li><li>Adjusted EBITDA Margin on Revenue: Adjusted EBITDA margin was 9.5% for the three months ended December 31, 2025, compared to 11.0% in the prior year.</li><li>Total Operating Costs: Total operating costs for the three months ended December 31, 2025, were $67,456 thousand, down from $85,145 thousand in the prior year period.<ul><li>Contract costs: $55,395 thousand for 2025, compared to $72,771 thousand for 2024.</li><li>General and administrative costs: $7,761 thousand for 2025, compared to $8,067 thousand for 2024.</li><li>Depreciation and amortization: $4,300 thousand for 2025, compared to $4,307 thousand for 2024.</li></ul></li></ul><h4>Cash Flow</h4><ul><li>Cash provided by Operating Activities: Net cash used in operating activities was -$4.8 million for the three months ended December 31, 2025, an improvement of 58.3% compared to -$11.5 million in the prior year period, reflecting normal first quarter patterns and working capital use.</li><li>Free Cash Flow: Free Cash Flow was -$4.8 million for the three months ended December 31, 2025, an improvement of 60.3% from -$12.1 million in the prior year period.</li></ul><h4>Unique Metrics</h4><ul><li>Debt: Total debt was $136.6 million as of December 31, 2025, an increase of 3.8% from $131.6 million as of September 30, 2025, due to short-term working capital needs.</li><li>Backlog: Backlog increased to $517.4 million as of December 31, 2025, up 0.6% from $514.3 million as of September 30, 2025.</li></ul><h4>Outlook / Guidance</h4>DLH Holdings Corp. expects to align expenses with revenue volumes and restore margins to a competitive level after completing cost scaling initiatives during the the first and second quarters of fiscal 2026. The company anticipates deploying operating cash flow towards reducing debt levels going forward to enhance long-term financial flexibility and shareholder value. DLH 控股 remains on track for further delevering during fiscal 2026.

DLH | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 68.89 M