Booz Allen Hamilton Holding Corporation

Good morning, and thank you for standing by. Welcome to Booz Allen Hamilton's earnings call covering third quarter fiscal year 2026 results. At this time, all participants are in a listen-only mode. Later, there will be an opportunity for questions. I'd now like to turn the call over to the head of investor relations, Dustin Berensberg.

Thank you. Good morning, and thank you for joining us for Booz Allen's third quarter fiscal year 2026 earnings call. We hope you've had an opportunity to read the press release we issued earlier this morning. We have also provided presentation slides on our website and are now on slide two. With me today to talk about our business and financial results are Horacio Rozanski, our Chairman, Chief Executive Officer and President, Matt Calderon, Executive Vice President and Chief Financial Officer, and Christine Martin-Anderson, Executive Vice President and Chief Operating Officer. As shown in the disclaimer on slide three, Please note that we may make forward-looking statements on today's call, which involve known and unknown risk, uncertainties, and other factors that may cause our actual results to differ materially from the forecasted results discussed in our SEC filings and on this call. All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements and speak only as of the date made. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements. During today's call, we will also discuss some non-GAAP financial measures and other metrics, which we believe provide useful information for investors. We'll include an explanation of adjustments and other reconciliations of our non-GAAP measures to the most comparable GAAP measures in our third quarter fiscal year 2026 earnings release and slides. Numbers presented may be rounded and as such may vary slightly from those in our public disclosure. It is now my pleasure to turn the call over to our Chairman, CEO, and President, Horacio Rosnatsky. We are now on slide four.

Thank you, Dustin. Welcome, everyone, and thank you for joining the call. Today, Christine, Matt, and I will share Booz Allen's financial results for the third quarter of fiscal year 2026. Before we dive in, I would like to begin by acknowledging the transition of our Chief Financial Officer, Matt Calderon. As we announced in December, Matt will be leaving on February 1st, and today is his final Booz Allen earnings call. Matt has been with the company for over 23 years and has had meaningful impact in all his leadership roles. Most recently as our CFO, he led us through a period of significant growth, deepened our connections with the investor community, and helped many analysts and investors better understand what we do by actually showing them our tech. He also played a pivotal role in strengthening Booz Allen's leadership position in the tech ecosystem through our investments and unique partnerships. Matt, I'm grateful to you for all your contributions. On behalf of all of us, we wish you the very best. To continue our search for a new CFO, Christine Martin-Anderson will serve as our interim CFO in addition to her duties as our chief operating officer. Christine is an exceptional leader who has led and grown large businesses and currently drives the execution of Booz Allen's strategic and operational priorities. Thank you, Christine, for leading us through this transition. And now let's turn to our performance. During our October earnings call, we said we expected the macro environment to remain fluid and dynamic for the foreseeable future. We also outlined three priorities we would focus on to strengthen our near-term financial performance, expand our market leadership, and re-accelerate our growth. Those priorities were to reduce our cost, accelerate our transition to outcome-based contracting and product sales, and focus our investment by doubling down on proven growth factors like cyber, national security, partnerships, and AI. Our third quarter results demonstrate we're making strong progress against those priorities. Our results are in line with the revised fiscal year guidance we shared in October, and we are narrowing the ranges at the top and bottom lines. Our performance reflects Booz Allen's strong execution and our ongoing transformation in a continually evolving and complex macro environment. On today's call, Matt will walk you through the numbers in detail, and Christine will share our outlook for the remainder of the fiscal year. Ahead of that, I will focus my remarks on progress against our three priorities, both in terms of current performance and on strengthening the foundation for the future. Let's begin with the first priority, reduce costs. Early in the quarter, we took swift action to execute the cost reduction program we described on the October earnings call. These crucial and difficult actions were necessary to enable agility in a changing market. They also create capacity to invest in growth. In parallel with the cost reductions, we navigated the longest government shutdown in history. The shutdown exacerbated an already slow funding and awards environment. Our performance demonstrates our resilience, disciplined cost management, and strong execution. I am particularly proud that we supported our employees who were impacted during the historic shutdown. This decision was consistent with how we handled prior shutdowns It ensured our people could immediately return to their customers' missions when contracts restarted. Overall, our results this quarter show that even in the midst of uncertainty and change, Booz Allen is managing the business tightly while preparing for the future. Shifting now to our second priority, accelerating our transition to outcomes-based contracting and product sales. As part of the overall transformation of our business, we continue identifying opportunities to reshape our portfolio and deliver more technical, outcome-based work. The recent investiture of a portion of our DARPA business sets us up to unlock technical performer opportunities that align with our growth vectors. For example, our investments in full-spectrum cyber capabilities are strongly aligned with DARPA's mission. As DARPA accelerates tech acquisition through their expedited research implementation series, or ARIS marketplace, we are positioned to be a direct supplier of advanced technology and solutions. We also continue to partner with our customers to convert existing work and procure new opportunities through more commercially-oriented buying practices, including fixed-price models. For our work on Thunderdome, this Zero Trust Cybersecurity Program, we have successfully transitioned the majority of existing task orders to include a fixed price component. We were also recently awarded nearly $100 million of fixed price work to expand Thunderdome across the Department of War. Through these efforts, we will continue advancing Zero Trust capabilities including accelerating AI and ML adoption for cyber defense use cases. As we shift more of our portfolio to fixed price and outcome-based models, we gain more flexibility to innovate how we deliver. This will create cost savings for the government and support Booz Allen's margin expansion over the medium to long term. Staying on the topic of cyber, Booz Allen's Velux Reverser is a good example of how we are productizing our IP for commercial sales. Velux Reverser is our AI-native malware reverse engineering product. This week, we're launching it in general availability to both federal and commercial customers. Velux Reverser accelerates an organization's response to today's most complex cyber threats. It performs fully automated malware analysis and delivers actionable intelligence in minutes versus what traditionally takes days. As AI-enhanced cyber attacks increase and become one of the primary threats of 2026, this product is a force multiplier for cyber defense efforts. Thus, Booz Allen is redefining our future, innovating what we build, how we build, and how we deliver to ensure the best value for our customers. Lastly, we've made advances in our priority number three, focusing investments by doubling down on proven growth vectors to drive acceleration. Our progress is evident through the expansion of our national security portfolio, which is the combination of our defense and intel businesses, as well as our industry partnerships. First, we continue to see strong demand for our technologies within national security missions. Two United States Navy examples illustrate this point. We recently announced the award of a $99 million contract with the Navy's Military Sealift Command, where we'll deliver wireless capabilities on board ships around the world. Using low Earth orbit satellites, advanced Wi-Fi and 5G, our tech will enable ships to have secure, reliable connectivity at the tactical edge. Additionally, many of our customers continue to increase our contract ceiling based on exceptional delivery and how well our exquisite tech works in their missions. We saw this with the Navy's program executive office for unmanned and small combatants. They recently expanded our work in the areas of unmanned and autonomous systems, mine and mine countermeasures, and mission modules for littoral combat ships. This is in addition to work we're already delivering for the Navy on our visual object localization and tracking solution. It uses machine learning and open architecture interfaces on autonomous platforms to passively detect and track objects in a maritime environment. Our national security portfolio is well aligned to the Trump administration's highest tech and mission priorities and positioned for continued growth and expansion. The other growth vector where we have doubled down is our industry partnerships. We are leveraging the tech ecosystem by engaging and investing in new ways with a specific focus on the best companies in Silicon Valley. Earlier this month, we announced a new partnership between Booz Allen and Andreessen Horowitz, or A16Z, one of the world's premier venture capital firms. Booz Allen is the first ever A16Z technology acceleration partner for governments. We've been working with A16Z portfolio companies for many years and have an exceptional track record in building and delivering transformational technology. That success is the foundation for this expanded partnership, and we look forward to building on our shared passion for driving the future of American technology. Together, we will co-create unique commercial tech for national security, public safety, healthcare, and other government missions. Booz Allen has committed to deploy up to $400 million in A16Z's late-stage venture funds over the life of the fund. This is good for Booz Allen, it's good for our shareholders, and it's good for the country. Through this game-changing partnership, we will choose national challenges that need to be solved, build innovative tech solutions, and deliver outcomes at speed and scale. In closing, Our performance this quarter and our progress against our three priorities gives me confidence that we are on track operationally and strategically. Looking ahead, we will continue to anticipate change in a dynamic environment. We will operate efficiently and with agility, accelerate our transformation, and we will focus on returning to growth. And now I'll hand off to Matt to cover our third quarter financials. Matt, for the last time, over to you.