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Business Segments | 9 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS We conduct our operations through three business segments: U.S. Federal Services, U.S. Services, and Outside the U.S. Our operating segments represent the manner in which our Chief Executive Officer reviews our financial results. U.S. Federal Services Our U.S. Federal Services Segment delivers solutions that help various U.S. federal government agencies better deliver on their mission, including program operations and management, clinical services, and technology solutions. The segment also includes system and application development, Information Technology (IT) modernization, and maintenance services. Clinical services comprises appeals and assessments services, which includes managing the evaluation process for U.S. veterans and service members on behalf of the U.S. Department of Veterans Affairs (VA) and certain state-based assessments and appeals work that is part of the segment's heritage. Under Maximus Federal Technology Solutions (MFTS), the segment executes on its digital strategy to deliver technology solutions that advance agency missions, including the challenge to modernize, provide better customer experience, and drive process efficiencies. U.S. Services Our U.S. Services Segment provides a variety of services, such as program operations, clinical services, employment services and technology solutions, and related consulting work for U.S. state and local government programs. These services support a variety of programs, including the programs under the Affordable Care Act (ACA), Medicaid, the Children's Health Insurance Program (CHIP), Temporary Assistance to Needy Families (TANF), and child support programs. Program operations include comprehensive program administration services for government clients. The services we provide vary from program to program and include: centralized multilingual customer contact centers and multichannel, digital self-service options to better serve citizens' needs; application assistance to beneficiaries to help them access benefits; person centered clinical assessment services; provider enrollment systems and related business process services; employment services including eligibility support, case management, job-readiness preparation, job search and employer outreach, job retention and career advancement, and selected educational and training services. Our consulting services include technical and financial consulting services, including Independent Verification and Validation (IV&V) services, program modernization consulting; and project management. Outside the U.S. Our Outside the U.S. Segment provides business process services (BPS) and technology solutions for international governments. These services include health and disability assessments, program administration for employment services, wellbeing solutions and other job seeker-related services, digitally-enabled customer services, and advanced technologies for modernization. We support programs and deliver services in various locations, including the United Kingdom, where we serve the Functional Assessment Services (FAS) contract, which replaced the Health Assessment Advisory Service (HAAS) contract, and the Restart employment program. In recent years, we have divested components of this segment including, in the first quarter of fiscal year 2025, our businesses in Australia and Korea.
Table 3.1: Results of Operations by Business Segment
| For the Three Months Ended |  | For the Nine Months Ended
| June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
| Amount |  | % (1) |  | Amount |  | % (1) |  | Amount |  | % (1) |  | Amount |  | % (1)
| (dollars in thousands)
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal Services | $ | 761,174 |  |  |  |  | $ | 683,347 |  |  |  |  | $ | 2,319,756 |  |  |  |  | $ | 2,062,127 |  |  |
U.S. Services | 439,818 |  |  |  |  | 472,298 |  |  |  |  | 1,334,418 |  |  |  |  | 1,448,258 |  |  |
Outside the U.S. | 147,408 |  |  |  |  | 159,284 |  |  |  |  | 458,687 |  |  |  |  | 479,942 |  |  |
Revenue | $ | 1,348,400 |  |  |  |  | $ | 1,314,929 |  |  |  |  | $ | 4,112,861 |  |  |  |  | $ | 3,990,327 |  |  |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal Services | $ | 226,134 |  |  | 29.7 | % |  | $ | 186,075 |  |  | 27.2 | % |  | $ | 601,507 |  |  | 25.9 | % |  | $ | 506,074 |  |  | 24.5 | %
U.S. Services | 105,932 |  |  | 24.1 | % |  | 121,012 |  |  | 25.6 | % |  | 312,706 |  |  | 23.4 | % |  | 369,497 |  |  | 25.5 | %
Outside the U.S. | 27,447 |  |  | 18.6 | % |  | 25,227 |  |  | 15.8 | % |  | 85,678 |  |  | 18.7 | % |  | 74,386 |  |  | 15.5 | %
Gross profit | $ | 359,513 |  |  | 26.7 | % |  | $ | 332,314 |  |  | 25.3 | % |  | $ | 999,891 |  |  | 24.3 | % |  | $ | 949,957 |  |  | 23.8 | %
Selling, general, and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal Services | $ | 88,272 |  |  | 11.6 | % |  | $ | 79,949 |  |  | 11.7 | % |  | $ | 245,563 |  |  | 10.6 | % |  | $ | 247,671 |  |  | 12.0 | %
U.S. Services | 60,975 |  |  | 13.9 | % |  | 59,531 |  |  | 12.6 | % |  | 173,096 |  |  | 13.0 | % |  | 174,032 |  |  | 12.0 | %
Outside the U.S. | 21,507 |  |  | 14.6 | % |  | 26,647 |  |  | 16.7 | % |  | 66,822 |  |  | 14.6 | % |  | 75,249 |  |  | 15.7 | %
Divestiture-related charges (2) | — |  |  | NM |  | — |  |  | NM |  | 39,343 |  |  | NM |  | 1,018 |  |  | NM
Other (3) | 77 |  |  | NM |  | 906 |  |  | NM |  | 599 |  |  | NM |  | 6,712 |  |  | NM
Selling, general, and administrative expenses | $ | 170,831 |  |  | 12.7 | % |  | $ | 167,033 |  |  | 12.7 | % |  | $ | 525,423 |  |  | 12.8 | % |  | $ | 504,682 |  |  | 12.6 | %
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal Services | $ | 137,862 |  |  | 18.1 | % |  | $ | 106,126 |  |  | 15.5 | % |  | $ | 355,944 |  |  | 15.3 | % |  | $ | 258,403 |  |  | 12.5 | %
U.S. Services | 44,957 |  |  | 10.2 | % |  | 61,481 |  |  | 13.0 | % |  | 139,610 |  |  | 10.5 | % |  | 195,465 |  |  | 13.5 | %
Outside the U.S. | 5,940 |  |  | 4.0 | % |  | (1,420) |  |  | (0.9) | % |  | 18,856 |  |  | 4.1 | % |  | (863) |  |  | (0.2) | %
Amortization of intangible assets | (23,010) |  |  | NM |  | (23,542) |  |  | NM |  | (69,041) |  |  | NM |  | (68,532) |  |  | NM
Divestiture-related charges (2) | — |  |  | NM |  | — |  |  | NM |  | (39,343) |  |  | NM |  | (1,018) |  |  | NM
Other (3) | (77) |  |  | NM |  | (906) |  |  | NM |  | (599) |  |  | NM |  | (6,712) |  |  | NM
Operating income | $ | 165,672 |  |  | 12.3 | % |  | $ | 141,739 |  |  | 10.8 | % |  | $ | 405,427 |  |  | 9.9 | % |  | $ | 376,743 |  |  | 9.4 | %
(1)Percentage of respective revenue, as applicable. Percentages not considered meaningful are marked "NM." (2)During fiscal years 2025 and 2024, we have divested businesses from our Outside the U.S. Segment. See "Note 6. Divestitures" for additional information. (3)Other expenses include credits and costs that are not allocated to a particular segment.

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