Amentum Holdings, Inc.

Issued on behalf of VisionWave Holdings, Inc.

NEW YORK, Feb. 5, 2026 /PRNewswire/ -- Equity Insider News Commentary – Defense is no longer about physical walls; it is about the digital shield that protects them. With the aerospace AI market projected to hit $29.73 billion in 2026^[1], the Department of Homeland Security just validated the sector with a $1.5 billion contract vehicle for counter-drone tech^[2], including immediate deployment for the 2026 World Cup. This capital wave is targeting the companies building the autonomous nervous system of national security: VisionWave Holdings, Inc. (NASDAQ: VWAV), VSE (NASDAQ: VSEC), Parsons (NYSE: PSN), Amentum (NYSE: AMTM), and Booz Allen Hamilton (NYSE: BAH).

The urgency is driven by a critical gap in semiconductor sovereignty. As nations realize that supply chain resilience dictates military readiness^[3], the cognitive electronic warfare market is surging to $700 million^[4] to field systems that can adapt to threats in real-time. This is not about off-the-shelf components; the Pentagon is aggressively expanding its Trusted Foundry program to secure radiation-hardened, tamper-resistant chips that commercial nodes simply cannot produce.

VisionWave Holdings Inc. (NASDAQ: VWAV) just provided a strategic update highlighting progress across its dual-market autonomous systems platform, including advances in RF-based defense capabilities and the integration of QuantumSpeed assets with its internally developed qSpeed computational acceleration architecture. The company develops proprietary artificial intelligence, RF sensing, autonomy, and computational acceleration technologies designed for unmanned and autonomous systems operating in complex, high-stakes environments spanning defense, homeland security, and commercial infrastructure applications.

The update focuses on two computational acceleration technologies. QuantumSpeed, which VisionWave previously acquired in a transaction independently valued at $99.6 million, remains in proof-of-concept and architectural development phases, exploring novel approaches to reducing decision latency in environments where microseconds can materially affect operational outcomes. The company's internally developed qSpeed architecture is designed as a system-level computational acceleration layer that prioritizes decision-critical processing paths across sensing, AI inference, and autonomous control workflows. Management is evaluating qSpeed in conjunction with defense-oriented applications including RF-enabled fire-control, counter-UAS systems, and non-line-of-sight threat detection environments. Both technologies remain pre-commercial, and ongoing work focuses on architecture refinement, system integration, benchmarking, and validation under controlled conditions.

VisionWave is advancing RF-centric defense initiatives that integrate sensing, signal processing, and computational acceleration. The company entered into a strategic exchange agreement with SaverOne 2014 Ltd. (NASDAQ: SVRE) in a three-stage deal worth $7.0 million to develop an RF-based defense and security platform combining VisionWave's RF technologies with SaverOne's Vulnerable Road User platform to address concealed and non-line-of-sight threats. VisionWave could control roughly 51% of SaverOne on a fully diluted basis if milestones are achieved and shareholders approve. U.S. Patent No. 12,499,578 secures enforceable protection for the RF sensing and AI architecture underlying its Argus counter-drone technology and SkyWeave communications backbone.

The company also announced a major execution milestone in its joint venture with Boca Jom Ltd., completing the transfer of three comprehensive intellectual property portfolios covering Electronic Design Automation (EDA) tools. The transferred IP includes complete system architectures, source code, algorithm definitions, technical diagrams, detailed development methodologies, and structured development roadmaps supporting three advanced semiconductor design tools addressing critical bottlenecks in chip manufacturing.

The company's operating portfolio includes Solar Drone Ltd., a wholly owned subsidiary focused on drone-mounted payload systems for large-scale solar and infrastructure cleaning. VisionWave is also expanding into Southern Europe through distribution agreements for Italy and Spain covering critical infrastructure maintenance markets.

CONTINUED… Read this and more news for VisionWave Holdings at:

https://equity-insider.com/2025/09/25/the-ai-defense-technology-developments-on-the-rise-in-2025-26/

VSE (NASDAQ: VSEC) entered into a definitive agreement to acquire Precision Aviation Group for total upfront consideration of approximately $2.025 billion in cash and equity. Founded in 1996 and headquartered in Atlanta, Georgia, Precision Aviation Group operates 29 locations worldwide serving over 10,000 customers globally while completing more than 175,000 repairs annually, with expected adjusted revenue of approximately $615 million for fiscal year ended December 31, 2025.

"This acquisition represents a pivotal moment for VSE and a major milestone in our strategy to build a scaled, differentiated, higher-margin aviation aftermarket platform," said John Cuomo, President and CEO of VSE Corporation. "We have long admired Precision Aviation Group and view it as an exceptional strategic fit within the VSE portfolio. Precision Aviation Group adds a differentiated parts and services model, new and highly complementary capabilities, a best-in-class sales organization, a scaled MRO footprint, deep technical expertise, and strong customer and supplier relationships across growing commercial, B&GA, rotorcraft, and defense end markets."

The acquisition is expected to significantly expand VSE's scale and enhance its engine and component service capabilities across the aviation aftermarket while maintaining a focused strategy centered on high-value, high-margin, mission-critical and differentiated services. VSE will acquire Precision Aviation Group for $1.75 billion in cash and approximately $275 million of equity consideration issued to GenNx360 Capital Partners, with the transaction expected to close in the second quarter of 2026 subject to regulatory approvals and customary closing conditions.

Parsons (NYSE: PSN) deployed DroneArmor™, the company's counter-unmanned aircraft system, for a Federal national security customer to enhance security and protect personnel, communities and critical infrastructure along the United States southern border. The proven military-grade command and control system provides operators with real-time situational awareness, actionable intelligence and precise mitigation capabilities against unauthorized or malicious drone activity.

"Parsons is delivering mission-critical technology that strengthens national security, protects U.S. infrastructure, and keeps our communities safe," said Carey Smith, chair, president, and CEO of Parsons Corporation. "As a leading system integrator for national security missions, Parsons is an agile, rapid developer of transformative solutions that can be delivered at the speed of relevance."

DroneArmor™ integrates artificial intelligence and machine learning to autonomously track, identify and mitigate potential threats, reducing operator cognitive load while accelerating decision-making. The modular, scalable command and control platform combines radar, electronic warfare, optics and AI-enabled software into a single interoperable system, with development occurring at Parsons' C-UAS Center of Excellence in Summit Point, West Virginia.

Amentum (NYSE: AMTM) secured contracts worth up to $730 million from Électricité de France expanding critical solutions for the UK's existing nuclear reactors and construction of a new gigawatt power station at Hinkley Point. The contracts include ten-year Professional Services Agreement frameworks with Hinkley Point C, EDF Nuclear Operations and EDF Nuclear Services to support the new build programme, operating stations and engineering capability hub.

"Amentum's expertise in gigawatt reactor operational support and life extension makes it the ideal partner for EDF, one of the world's largest nuclear utilities," said Loren Jones, senior vice president and head of Amentum's Energy & Environment-International business. "This award advances our strategy to accelerate the growth of our nuclear energy business in line with the opportunities being created by the worldwide nuclear resurgence."

Amentum will deploy over 1,000 UK-based specialists to provide nuclear skills, solutions and products essential to the continued operation and life extension of the UK's existing nuclear fleet. The company already has 300 colleagues delivering multi-disciplinary roles across Hinkley Point C under the Professional Services Agreement, with this number expected to grow as the new contracts mature.

Booz Allen Hamilton (NYSE: BAH) announced general availability of Vellox Reverser™, an AI-powered malware reverse engineering and threat intelligence product that automates time-intensive analysis of complex and evasive threats at machine speed. The product features Binary and Function Similarity Matching capabilities that compare new analyzed samples against previously analyzed malware databases, dramatically reducing investigation time while revealing links to broader adversarial cyber campaigns.

"As AI-driven cyberattacks become one of the primary security concerns in 2026, we're proud to deliver a mission-grade malware analysis product that helps our customers address the most complex threats at speed," said Mujtaba Hamid, executive vice president of product at Booz Allen. "Vellox Reverser will serve as a force multiplier for security teams, embedding decades of Booz Allen cyber defense tradecraft into AI agents designed to replicate world-class malware analysts so our customers can analyze threats at a depth unmatched by other tools and solutions."

Built using AWS Lambda and Amazon Bedrock with serverless orchestration through AWS Step Functions, Vellox Reverser delivers actionable intelligence with indicators of compromise mapped to the MITRE ATT&CK framework. Booz Allen offers a 30-day trial of the product, which completed analysis of a sophisticated malware sample in minutes, evaluating over 120 functions and flagging 39 as malicious.

Article Sources: https://equity-insider.com/2025/09/25/the-ai-defense-technology-developments-on-the-rise-in-2025-26/

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SOURCES:

1. https://www.globenewswire.com/news-release/2026/01/29/3228737/28124/en/Artificial-Intelligence-and-Robotics-in-Aerospace-and-Defense-Research-Report-2026-44-09-Bn-Market-Opportunities-Trends-Competitive-Analysis-Strategies-Forecasts-2020-2025-2025-203.html
2. https://www.dhs.gov/news/2026/01/12/department-homeland-security-launches-new-office-advance-drone-and-counter-drone
3. https://www.csis.org/analysis/semiconductors-and-national-defense-what-are-stakes
4. https://www.globenewswire.com/news-release/2026/01/29/3228393/28124/en/Artificial-Intelligence-AI-Based-Cognitive-Electronic-Warfare-CEW-Research-Report-2026-1-44-Bn-Market-Opportunities-Trends-Competitive-Analysis-Strategies-and-Forecasts-2020-2025-2.html

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Strong Q1 Gross Revenue and Adj. Net Revenue Growth of 12.3% and 8.2% y/y, Respectively

Robust Backlog Growth of 21% y/y with TTM Book-to-Bill Ratio of 1.4x

Unlocking Full Value of Asset Lifecycle Strategy through Transaction for Remaining Stake in PA Consulting

Strategically Repurchased $252 Million of Jacobs Shares in Q1, Announced 12.5% Dividend Increase

Increasing FY 2026 Adj. Net Revenue, Adj. EPS and Free Cash Flow Margin Guidance Midpoints

DALLAS, Feb. 3, 2026 /PRNewswire/ -- Jacobs Solutions Inc. (NYSE: J) today announced its financial results for the fiscal first quarter ended December 26, 2025.

Q1 2026 Highlights¹:

• Gross revenue of $3.3 billion up 12.3% y/y; adjusted net revenue² of $2.3 billion up 8.2% y/y
• GAAP net earnings of $125.0 million (vs. net loss of $17.1 million in Q1 2025); adjusted EBITDA² of $302.6 million increased 7.3% y/y
• GAAP EPS of $1.11 (vs. net loss of $0.10 in Q1 2025); adjusted EPS² of $1.53 increased 15.0% y/y
• Backlog of $26.3 billion up 20.6% y/y; Q1 book-to-bill of 2.0x (1.4x TTM)

Jacobs' Chair and CEO Bob Pragada commented, "We delivered excellent first quarter results driven by revenue strength in both Infrastructure & Advanced Facilities (I&AF) and PA Consulting. Within I&AF, growth was led by the Life Sciences, Data Center, Semiconductor, Water and Transportation sectors. PA Consulting also continues to capitalize on strong demand for its digital consulting services, with revenue increasing 16% year-on-year in the first quarter. We are excited to advance our strategy to redefine the asset lifecycle through the recently announced transaction to fully own the business. We are off to a great start in FY26 and strong results in Q1 give us confidence to increase our outlook for the fiscal year."

Jacobs' CFO Venk Nathamuni added, "We're very pleased with our Q1 performance. We exceeded expectations across key financial metrics, including revenue, margin, EPS and cash from operations and believe we are well positioned to build on this momentum, as reflected in our raised full-year guidance. We also sequentially increased share repurchases, buying back $252 million of our shares during the quarter. Additionally, we announced the acquisition of the remaining stake in PA Consulting and increased our quarterly dividend by 12.5%. Our ability to return significant amounts of capital to shareholders, while selectively engaging in M&A is a testament to our balance sheet quality and outlook for strong cash generation."

Financial Outlook³

The Company's outlook for fiscal 2026 is for adjusted net revenue to grow 6.5% to 10.0% over fiscal 2025 (previously forecast as 6.0% to 10.0%), adjusted EBITDA margin to range from 14.4% to 14.7% (unchanged forecast), adjusted EPS to range from $6.95 to $7.30 (previously forecast as $6.90 to $7.30) and for free cash flow margin to range from 7.0% to 8.5% (previously forecast as 7.0% to 8.0%).

First Quarter Review (in thousands, except per-share data)

The Company's adjusted net earnings from continuing operations and adjusted EPS from continuing operations for the first quarter of fiscal 2026 and fiscal 2025 exclude certain adjustments that are further described in the section entitled "Non-GAAP Financial Measures" at the end of this release. For a reconciliation of Revenue to Adjusted Net Revenue, see "Segment Information" below.

Jacobs is hosting a conference call at 4:30 P.M. ET on Tuesday, February 3, 2026, which it is webcasting live at www.jacobs.com. 

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," "target," "goal" and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make concerning our expectations as to our future growth, prospects, financial outlook and business strategy, including our expectations for our fiscal year 2026 adjusted EBITDA margin, adjusted EPS, adjusted net revenue growth and free cash flow margin, as well as our expectations for our effective tax rates, and concerning our plans to acquire the remaining stake in PA Consulting, the potential benefits and synergies of the proposed transaction, including future financial and operating results, growth opportunities and strategic benefits, the expecting timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction and any assumptions underlying any of the foregoing. Although such statements are based on management's current estimates and expectations, and/or currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. Such factors include but are not limited to:

• uncertainties as to the possibility that the closing conditions for the proposed transaction with PA Consulting may not be satisfied or waived, on a timely basis or otherwise; the risks that any consents or approvals, including any regulatory approvals, required in connection with the proposed transaction may not be received; the risk that the proposed transaction may not be completed on the terms or in the time-frame expected by the parties; unexpected costs, liabilities, charges or expenses related to the proposed transaction and the actual terms of any financings that will be obtained for the transaction; our ability to fully integrate PA Consulting into our business, our ability to realize the estimated synergies of the proposed transaction; and our ability to retain and hire key personnel, customers or suppliers while the proposed transaction is pending or after it is completed;
• general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets and stock market volatility, instability in the banking industry, labor shortages, or the impact of a possible recession or economic downturn or changes to monetary or fiscal policies or priorities in the U.S. and the other countries where we do business on our results, prospects and opportunities;
• competition from existing and future competitors in our target markets, as well as the possible reduction in demand for certain of our product solutions and services, including delays in the timing of the award of projects or reduction in funding, or the abandonment of ongoing or anticipated projects due to the financial condition of our clients and suppliers or due to governmental budget constraints or changes to governmental budgetary priorities, or the inability of our clients to meet their payment obligations in a timely manner or at all;
• our ability to fully execute on our corporate strategy, including the impact of acquisitions, strategic alliances, divestitures, and other strategic events resulting from evolving business strategies, including on our ability to maintain our culture and retain key personnel, customers or suppliers, or our ability to achieve the cost-savings and synergies contemplated by our recent acquisitions within the expected time frames or to achieve them fully and to successfully integrate acquired businesses while retaining key personnel, and our ability to invest in the tools needed to implement our strategy;
• financial market risks that may affect us, including by affecting our access to capital, the cost of such capital and/or our funding obligations under defined benefit pension and post-retirement plans;
• legislative changes, including potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, as well as other legislation and executive orders, including any directive to federal agencies to reduce federal spending or the size of the federal workforce, and changes in U.S. or foreign tax laws, including the tax legislation enacted in the U.S. in July 2025, statutes, rules, regulations or ordinances, including the impact of, and changes to tariffs and retaliatory tariffs or trade policies, that may adversely impact our future financial positions or results of operations;
• increased geopolitical uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, including the Russia-Ukraine and Israel-Hamas conflicts and the on-going tensions in the Middle East, among others; and
• the impact of any pandemic, and any resulting economic downturn on our results, prospects and opportunities, measures or restrictions imposed by governments and health officials in response to the pandemic, as well as the inability of governments in certain of the countries in which we operate to effectively mitigate the financial or other impacts of any future pandemics or infectious disease outbreaks on their economies and workforces and our operations therein.

The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements see the Company's filings with the U.S. Securities and Exchange Commission, including in particular the discussions contained in our fiscal 2025 Annual Report on Form 10-K under Item 1 - Business, Item 1A - Risk Factors, Item 3 - Legal Proceedings, and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations; and in our most recently filed Quarterly Report on Form 10-Q under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operation. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

Regulation FD

We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.jacobs.com, including information that may be deemed to be material. We encourage investors and others interested in the Company to monitor these distribution channels for material disclosures.

About Jacobs

At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately $12 billion in annual revenue and a talent force of almost 43,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we're creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn, Instagram, X and Facebook.

Non-GAAP Financial Measures and Operating Metrics:

In this press release, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. These non-GAAP measures are described below.

As a result of the spin-off of the SpinCo Business and merger of the SpinCo Business with Amentum Parent Holdings LLC to form an independent, publicly traded company, Amentum Holdings, Inc. (NYSE: AMTM) (the "Separation Transaction"), substantially all CMS and C&I (the "SpinCo Business") related assets and liabilities were separated on September 27, 2024. As such, the financial results of the SpinCo Business are reflected as discontinued operations for all periods presented and therefore excluded from the non-GAAP measures described below.

Adjusted net revenue is calculated by adjusting revenue from continuing operations to exclude amounts we bill to clients on projects where we are procuring subcontract labor or third-party materials and equipment on behalf of the client (referred to as "pass throughs"). These amounts are considered pass throughs because we receive no or only a minimal mark-up associated with the billed amounts. We sometimes refer to our GAAP revenue as "gross revenue." 

Jacobs adjusted operating profit, adjusted earnings from continuing operations before taxes, adjusted income tax expenses from continuing operations, adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated by:

We eliminate the impact of "Restructuring, Integration, Transaction and Other Charges" and "Other Adjustments" because we do not consider these to be indicative of ongoing operating performance. Actions taken by the Company to enhance efficiencies are subject to significant fluctuations from period to period. The Company's management believes the exclusion of the amounts relating to the above-listed items improves the period-to-period comparability and analysis of the underlying financial performance of the business.

Adjustments to derive adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated on an after-tax basis.

Free cash flow (FCF) is calculated as net cash provided by operating activities from continuing operations as reported on the statement of cash flows less additions to property and equipment. FCF Margin is calculated as FCF divided by adjusted net revenue.

Adjusted EBITDA is calculated by adding income tax expense, depreciation expense and adjusted interest expense to, and deducting interest income from, adjusted net earnings attributable to Jacobs from continuing operations.

I&AF Operating Margin is a ratio of I&AF operating profit for the segment to the segment's adjusted net revenue. For a reconciliation of revenue to adjusted net revenue, see "Segment Information".

Jacobs Adjusted Operating Margin is a ratio of adjusted operating profit for the Company to the Company's adjusted net revenue. For a reconciliation of revenue to adjusted net revenue, see "Segment Information".

We believe that the measures listed above are useful to management, investors and other users of our financial information in evaluating the Company's operating results and understanding the Company's operating trends by excluding or adding back the effects of the items described above and below, the inclusion or exclusion of which can obscure underlying trends. Additionally, management uses such measures in its own evaluation of the Company's performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period.

This press release also contains certain financial and operating metrics which management believes are useful in evaluating the Company's performance. Backlog represents revenue or gross profit, as applicable, we expect to realize for work to be completed by our consolidated subsidiaries and our proportionate share of work to be performed by unconsolidated joint ventures. Gross margin in backlog refers to the ratio of gross profit in backlog to gross revenue in backlog. For more information on how we determine our backlog, see our Backlog Information in our most recent annual report filed with the Securities and Exchange Commission. Adjusted EBITDA margin refers to a ratio of adjusted EBITDA to adjusted net revenue. Book-to-bill ratio is an operational measure representing the ratio of change in backlog since the prior reporting period plus reported revenue for the reporting period to the reported revenues for the same period. We regularly monitor these operating metrics to evaluate our business, identify trends affecting our business, and make strategic decisions.

The Company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the Company's financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the Company to those used by our peer companies.

The following tables reconcile non-GAAP financial measures used herein to their respective U.S. GAAP measures. For the comparable period presented below, the adjustments to derive the non-GAAP financial measures consist of amounts incurred in connection with the items described above. Amounts are shown in thousands, except for per-share data (note: earnings per share amounts may not total due to rounding).

For additional information contact:

Investors:

Bert Subin

JacobsIR@jacobs.com

Media:

Louise White

louise.white@jacobs.com

469-724-0810

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SOURCE Jacobs