V2X reported $3.87B of remaining performance obligations at 2 Oct 2026, up 11% from a year earlier and up 4% from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.11.
Net new backlog added in the latest quarter: $140M.
Over the last twelve months it turned about 139% of its opening backlog into revenue (12-month conversion).
The company reports 27% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 3.5% of the backlog.
Twelve-month book-to-bill: 1.08, i.e. 1.08 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -2 points — revenue is catching up with orders.
By backlog size it ranks 134th among US filers the cockpit tracks.
V2X backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
2 Oct 2026
$3.87B
$5.00B
0.8 yrs
$135M
3 Jul 2026
$3.73B
$4.90B
0.8 yrs
$97.8M
3 Apr 2026
$3.89B
$4.72B
0.8 yrs
$122M
31 Dec 2025
$3.38B
$4.48B
0.8 yrs
$101M
26 Sep 2025
$3.48B
$4.42B
0.8 yrs
$95.8M
27 Jun 2025
$3.90B
$4.33B
0.9 yrs
$98.2M
28 Mar 2025
$3.35B
$4.33B
0.8 yrs
$95.4M
31 Dec 2024
$3.48B
$4.32B
0.8 yrs
$98.7M
27 Sep 2024
$4.03B
$4.20B
1.0 yrs
$96.2M
28 Jun 2024
$3.84B
$4.12B
0.9 yrs
$101M
29 Mar 2024
$3.27B
$4.03B
0.8 yrs
$142M
31 Dec 2023
$3.63B
$3.96B
0.9 yrs
$110M
Questions
What is V2X's backlog?
V2X reported $3.87B of remaining performance obligations at 2 Oct 2026, up 11% from a year earlier and up 4% from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.11.
How fast does V2X's backlog turn into revenue?
Over the last twelve months V2X recognised revenue equal to about 139% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.