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Revenues and Contract Balances | 9 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenues and Contract Balances | Revenues and Contract Balances Disaggregation of Revenues The Company disaggregates revenues by contract type, customer type, prime vs. subcontractor, and whether the solution provided is primarily Expertise or Technology. These categories represent how the nature, amount, timing, and uncertainty of revenues and cash flows are affected. Disaggregated revenues by contract type were as follows (in thousands):
|  | Three Months Ended March 31, 2025 |  | Nine Months Ended March 31, 2025
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Cost-plus-fee |  | $ | 1,316,805 |  |  | $ | — |  |  | $ | 1,316,805 |  |  | $ | 3,837,028 |  |  | $ | — |  |  | $ | 3,837,028 |
Fixed-price |  | 533,735 |  |  | 39,729 |  |  | 573,464 |  |  | 1,537,759 |  |  | 113,820 |  |  | 1,651,579 |
Time-and-materials |  | 254,580 |  |  | 22,133 |  |  | 276,713 |  |  | 765,810 |  |  | 69,263 |  |  | 835,073 |
Total |  | $ | 2,105,120 |  |  | $ | 61,862 |  |  | $ | 2,166,982 |  |  | $ | 6,140,597 |  |  | $ | 183,083 |  |  | $ | 6,323,680 |
|  | Three Months Ended March 31, 2024 |  | Nine Months Ended March 31, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Cost-plus-fee |  | $ | 1,174,219 |  |  | $ | — |  |  | $ | 1,174,219 |  |  | $ | 3,411,128 |  |  | $ | — |  |  | $ | 3,411,128 |
Fixed-price |  | 484,980 |  |  | 36,007 |  |  | 520,987 |  |  | 1,437,282 |  |  | 105,326 |  |  | 1,542,608 |
Time-and-materials |  | 218,787 |  |  | 23,463 |  |  | 242,250 |  |  | 604,752 |  |  | 63,049 |  |  | 667,801 |
Total |  | $ | 1,877,986 |  |  | $ | 59,470 |  |  | $ | 1,937,456 |  |  | $ | 5,453,162 |  |  | $ | 168,375 |  |  | $ | 5,621,537 |
Disaggregated revenues by customer type were as follows (in thousands):
|  | Three Months Ended March 31, 2025 |  | Nine Months Ended March 31, 2025
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Department of Defense |  | $ | 1,652,206 |  |  | $ | — |  |  | $ | 1,652,206 |  |  | $ | 4,765,472 |  |  | $ | — |  |  | $ | 4,765,472 |
Federal civilian agencies |  | 431,453 |  |  | — |  |  | 431,453 |  |  | 1,304,515 |  |  | — |  |  | 1,304,515 |
Commercial and other |  | 21,461 |  |  | 61,862 |  |  | 83,323 |  |  | 70,610 |  |  | 183,083 |  |  | 253,693 |
Total |  | $ | 2,105,120 |  |  | $ | 61,862 |  |  | $ | 2,166,982 |  |  | $ | 6,140,597 |  |  | $ | 183,083 |  |  | $ | 6,323,680 |
|  | Three Months Ended March 31, 2024 |  | Nine Months Ended March 31, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Department of Defense |  | $ | 1,452,264 |  |  | $ | — |  |  | $ | 1,452,264 |  |  | $ | 4,163,079 |  |  | $ | — |  |  | $ | 4,163,079 |
Federal civilian agencies |  | 381,214 |  |  | — |  |  | 381,214 |  |  | 1,178,500 |  |  | — |  |  | 1,178,500 |
Commercial and other |  | 44,508 |  |  | 59,470 |  |  | 103,978 |  |  | 111,583 |  |  | 168,375 |  |  | 279,958 |
Total |  | $ | 1,877,986 |  |  | $ | 59,470 |  |  | $ | 1,937,456 |  |  | $ | 5,453,162 |  |  | $ | 168,375 |  |  | $ | 5,621,537 |
Disaggregated revenues by prime vs. subcontractor were as follows (in thousands):
|  | Three Months Ended March 31, 2025 |  | Nine Months Ended March 31, 2025
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Prime contractor |  | $ | 1,900,648 |  |  | $ | 55,105 |  |  | $ | 1,955,753 |  |  | $ | 5,535,517 |  |  | $ | 162,753 |  |  | $ | 5,698,270 |
Subcontractor |  | 204,472 |  |  | 6,757 |  |  | 211,229 |  |  | 605,080 |  |  | 20,330 |  |  | 625,410 |
Total |  | $ | 2,105,120 |  |  | $ | 61,862 |  |  | $ | 2,166,982 |  |  | $ | 6,140,597 |  |  | $ | 183,083 |  |  | $ | 6,323,680 |
|  | Three Months Ended March 31, 2024 |  | Nine Months Ended March 31, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Prime contractor |  | $ | 1,689,140 |  |  | $ | 52,637 |  |  | $ | 1,741,777 |  |  | $ | 4,878,820 |  |  | $ | 148,696 |  |  | $ | 5,027,516 |
Subcontractor |  | 188,846 |  |  | 6,833 |  |  | 195,679 |  |  | 574,342 |  |  | 19,679 |  |  | 594,021 |
Total |  | $ | 1,877,986 |  |  | $ | 59,470 |  |  | $ | 1,937,456 |  |  | $ | 5,453,162 |  |  | $ | 168,375 |  |  | $ | 5,621,537 |
Disaggregated revenues by expertise or technology were as follows (in thousands):
|  | Three Months Ended March 31, 2025 |  | Nine Months Ended March 31, 2025
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Expertise |  | $ | 941,805 |  |  | $ | 31,232 |  |  | $ | 973,037 |  |  | $ | 2,794,191 |  |  | $ | 93,011 |  |  | $ | 2,887,202 |
Technology |  | 1,163,315 |  |  | 30,630 |  |  | 1,193,945 |  |  | 3,346,406 |  |  | 90,072 |  |  | 3,436,478 |
Total |  | $ | 2,105,120 |  |  | $ | 61,862 |  |  | $ | 2,166,982 |  |  | $ | 6,140,597 |  |  | $ | 183,083 |  |  | $ | 6,323,680 |
|  | Three Months Ended March 31, 2024 |  | Nine Months Ended March 31, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Expertise |  | $ | 895,791 |  |  | $ | 21,164 |  |  | $ | 916,955 |  |  | $ | 2,583,634 |  |  | $ | 60,956 |  |  | $ | 2,644,590 |
Technology |  | 982,195 |  |  | 38,306 |  |  | 1,020,501 |  |  | 2,869,528 |  |  | 107,419 |  |  | 2,976,947 |
Total |  | $ | 1,877,986 |  |  | $ | 59,470 |  |  | $ | 1,937,456 |  |  | $ | 5,453,162 |  |  | $ | 168,375 |  |  | $ | 5,621,537 |
Changes in Estimates Aggregate net changes in estimates for the three and nine months ended March 31, 2025 reflected an increase to income before income taxes of $3.4 million ($0.11 per diluted share) and $11.1 million ($0.37 per diluted share), respectively, compared with $7.5 million ($0.25 per diluted share) and $24.5 million ($0.81 per diluted share), for the three and nine months ended March 31, 2024. The Company uses its statutory tax rate when calculating the impact to diluted earnings per share. Revenues recognized from previously satisfied performance obligations were not material for the three and nine months ended March 31, 2025 and 2024, respectively. The change in revenues recognized from previously satisfied performance obligations generally relates to final true-up adjustments for estimated award or incentive fees in the period in which the customer’s final performance score was received or when it can be determined that more objective, contractually-defined criteria have been fully satisfied. Remaining Performance Obligations As of March 31, 2025, the Company had $11.3 billion of remaining performance obligations and expects to recognize approximately 44% and 63% as revenue over the next 12 and 24 months, respectively, with the remainder to be recognized thereafter. Contract Balances Contract balances consisted of the following (in thousands):
Description of Contract Related Balance |  | Financial Statement Classification |  | March 31, 2025 |  | June 30, 2024
Billed and billable receivables |  | Accounts receivable, net |  | $ | 979,486 |  |  | $ | 885,552 |
Contract assets – current unbilled receivables |  | Accounts receivable, net |  | 252,805 |  |  | 145,759 |
Contract assets – current costs to obtain |  | Prepaid expenses and other current assets |  | 6,885 |  |  | 6,142 |
Contract assets – noncurrent unbilled receivables |  | Accounts receivable, long-term |  | 14,722 |  |  | 13,311 |
Contract assets – noncurrent costs to obtain |  | Other long-term assets |  | 13,895 |  |  | 12,310 |
Contract liabilities – current deferred revenue and other contract liabilities |  | Other accrued expenses and current liabilities |  | (144,832) |  |  | (139,745) |
Contract liabilities – noncurrent deferred revenue and other contract liabilities |  | Other long-term liabilities |  | (4,009) |  |  | (4,607) |
During the three and nine months ended March 31, 2025, we recognized $18.3 million and $111.8 million of revenues, respectively, compared with $23.0 million and $117.4 million of revenues for the three and nine months ended March 31, 2024, that was included in a previously recorded contract liability as of the beginning of the period.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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