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Revenues and Contract Balances | 3 Months Ended
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Sep. 30, 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 or 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 September 30, 2025 |  | Three Months Ended September 30, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Cost-plus-fee |  | $ | 1,382,630 |  |  | $ | — |  |  | $ | 1,382,630 |  |  | $ | 1,280,010 |  |  | $ | — |  |  | $ | 1,280,010 |
Fixed-price |  | 564,825 |  |  | 46,668 |  |  | 611,493 |  |  | 439,240 |  |  | 36,016 |  |  | 475,256 |
Time-and-materials |  | 262,589 |  |  | 30,911 |  |  | 293,500 |  |  | 277,071 |  |  | 24,552 |  |  | 301,623 |
Total |  | $ | 2,210,044 |  |  | $ | 77,579 |  |  | $ | 2,287,623 |  |  | $ | 1,996,321 |  |  | $ | 60,568 |  |  | $ | 2,056,889 |
Disaggregated revenues by customer type were as follows (in thousands):
|  | Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Department of Defense |  | $ | 1,179,626 |  |  | $ | — |  |  | $ | 1,179,626 |  |  | $ | 1,087,288 |  |  | $ | — |  |  | $ | 1,087,288 |
Intelligence Community |  | 596,429 |  |  | — |  |  | 596,429 |  |  | 534,343 |  |  | — |  |  | 534,343 |
Federal civilian agencies |  | 411,730 |  |  | — |  |  | 411,730 |  |  | 352,219 |  |  | — |  |  | 352,219 |
Commercial and other |  | 22,259 |  |  | 77,579 |  |  | 99,838 |  |  | 22,471 |  |  | 60,568 |  |  | 83,039 |
Total |  | $ | 2,210,044 |  |  | $ | 77,579 |  |  | $ | 2,287,623 |  |  | $ | 1,996,321 |  |  | $ | 60,568 |  |  | $ | 2,056,889 |
Disaggregated revenues by prime or subcontractor were as follows (in thousands):
|  | Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Prime contractor |  | $ | 2,006,508 |  |  | $ | 70,391 |  |  | $ | 2,076,899 |  |  | $ | 1,826,763 |  |  | $ | 53,656 |  |  | $ | 1,880,419 |
Subcontractor |  | 203,536 |  |  | 7,188 |  |  | 210,724 |  |  | 169,558 |  |  | 6,912 |  |  | 176,470 |
Total |  | $ | 2,210,044 |  |  | $ | 77,579 |  |  | $ | 2,287,623 |  |  | $ | 1,996,321 |  |  | $ | 60,568 |  |  | $ | 2,056,889 |
Disaggregated revenues by Expertise or Technology were as follows (in thousands):
|  | Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
|  | Domestic |  | International |  | Total |  | Domestic |  | International |  | Total
Expertise |  | $ | 936,344 |  |  | $ | 50,547 |  |  | $ | 986,891 |  |  | $ | 956,496 |  |  | $ | 31,769 |  |  | $ | 988,265 |
Technology |  | 1,273,700 |  |  | 27,032 |  |  | 1,300,732 |  |  | 1,039,825 |  |  | 28,799 |  |  | 1,068,624 |
Total |  | $ | 2,210,044 |  |  | $ | 77,579 |  |  | $ | 2,287,623 |  |  | $ | 1,996,321 |  |  | $ | 60,568 |  |  | $ | 2,056,889 |
Changes in Estimates Aggregate net changes in estimates for the three months ended September 30, 2025 reflected a decrease to income before income taxes of $5.0 million (a decrease of $0.17 per diluted share), compared to an increase of $3.7 million (an increase of $0.12 per diluted share) for the three months ended September 30, 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 months ended September 30, 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 September 30, 2025, the Company had $13.1 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 |  | September 30, 2025 |  | June 30, 2025
Billed and billable receivables |  | Accounts receivable, net |  | $ | 1,130,070 |  |  | $ | 1,098,237 |
Contract assets – current unbilled receivables |  | Accounts receivable, net |  | 288,941 |  |  | 307,204 |
Contract assets – current costs to obtain |  | Prepaid expenses and other current assets |  | 7,386 |  |  | 7,059 |
Contract assets – noncurrent unbilled receivables |  | Other assets |  | 15,699 |  |  | 14,694 |
Contract assets – noncurrent costs to obtain |  | Other assets |  | 14,404 |  |  | 13,897 |
Contract liabilities – current deferred revenue and other contract liabilities |  | Other accrued expenses and current liabilities |  | (197,141) |  |  | (190,400) |
Contract liabilities – noncurrent deferred revenue and other contract liabilities |  | Other liabilities |  | (3,542) |  |  | (6,014) |
During the three months ended September 30, 2025, the Company recognized $91.7 million of revenues, compared with $64.1 million of revenues for the three months ended September 30, 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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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