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DLH Holdings Corp. (DLHC-1.76%) has submitted its Form 10-K filing for the fiscal year ended September 30, 2024.
The filing reports total revenue of $395.9 million, reflecting a 5.3% increase from the previous year. The increase is attributed to the acquisition completed in December 2022.
Contract costs for the year were $317 million, up from $296 million in the prior year, primarily due to increased revenue volume. General and administrative expenses decreased slightly to $37 million.
The company reported a net income of $7.4 million, up from $1.5 million in the previous year. This increase was partly due to the absence of an impairment loss on long-lived assets, which was recorded in the prior year.
DLH Holdings Corp. derives 98% of its revenue from U.S. federal government contracts, with major customers including the Department of Health and Human Services, Department of Veterans Affairs, and Department of Defense.
The company's backlog as of September 30, 2024, was approximately $690.3 million, with $155.1 million funded. This represents a slight decrease from the previous year's backlog of $704.8 million.
DLH Holdings Corp. continues to focus on providing technology-enabled healthcare and public health services, medical logistics, and readiness enhancement services to federal government agencies.
The company remains dependent on its relationships with major federal customers, which constitute a significant portion of its revenue.
DLH Holdings Corp. operates primarily through prime contracts awarded by the federal government, with a diverse mix of contract vehicles supporting its corporate growth strategy.
The filing also outlines potential risks, including changes in federal budgetary priorities, competition, and the impact of federal contractual set-aside laws and regulations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DLH Holdings Corp. annual 10-K report dated December 4, 2024. To report an error, please email earnings@qz.com.