DLH Holdings Corp. Files 10-Q for Q4 2024

TL;DR

DLH Holdings Corp. 10-Q filed. Q4 2024 financials out.

AI Summary

DLH Holdings Corp. filed its 10-Q for the period ending December 31, 2024. The filing covers the fourth quarter and fiscal year. Key financial data and business operations for this period are detailed within the report.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial performance and operational details of DLH Holdings Corp., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• DLH Holdings Corp. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• 20250205 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — 6,468 shares of Common Stock, par value $0.001 per share, were outstanding as of Febru
• $250,000 — ral Deposit Insurance Corporation up to $250,000. Deposits held with financial instituti

Filing Documents

• dlhc-20241231.htm (10-Q) — 899KB
• a311.htm (EX-31.1) — 4KB
• a312.htm (EX-31.2) — 4KB
• a32.htm (EX-32) — 2KB
• a311001.jpg (GRAPHIC) — 213KB
• a312001.jpg (GRAPHIC) — 213KB
• a32001.jpg (GRAPHIC) — 106KB
• 0000785557-25-000016.txt ( ) — 6792KB
• dlhc-20241231.xsd (EX-101.SCH) — 43KB
• dlhc-20241231_cal.xml (EX-101.CAL) — 94KB
• dlhc-20241231_def.xml (EX-101.DEF) — 165KB
• dlhc-20241231_lab.xml (EX-101.LAB) — 568KB
• dlhc-20241231_pre.xml (EX-101.PRE) — 405KB
• dlhc-20241231_htm.xml (XML) — 856KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 3 ITEM I: FINANCIAL STATEMENTS (UNAUDITED) 3 CONSOLIDATED STATEMENTS OF OPERATIONS 3 CONSOLIDATED BALANCE SHEETS 4 CONSOLIDATED STATEMENTS OF CASH FLOWS 5 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY 6

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 7

: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 22

: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 29

: CONTROLS AND PROCEDURES

ITEM 4: CONTROLS AND PROCEDURES 30

OTHER INFORMATION

PART II OTHER INFORMATION 30

: LEGAL PROCEEDINGS

ITEM 1: LEGAL PROCEEDINGS 30

: RISK FACTORS

ITEM 1A: RISK FACTORS 30

: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 31

: DEFAULTS UPON SENIOR SECURITIES

ITEM 3: DEFAULTS UPON SENIOR SECURITIES 31

: MINE SAFETY DISCLOSURES

ITEM 4: MINE SAFETY DISCLOSURES 31

: OTHER INFORMATION

ITEM 5: OTHER INFORMATION 31

: EXHIBITS

ITEM 6: EXHIBITS 32 SIGNATURE 33 2

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION ITEM I: FINANCIAL STATEMENTS (UNAUDITED) DLH HOLDINGS CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except per share amounts) Three Months Ended December 31, 2024 2023 Revenue $ 90,782 $ 97,850 Cost of operations: Contract costs 72,382 79,081 General and administrative costs 8,456 7,697 Depreciation and amortization 4,307 4,253 Total operating costs 85,145 91,031 Income from operations 5,637 6,819 Interest expenses 4,133 4,658 Income before provision for income tax 1,504 2,161 Provision for income tax expense 389 10 Net income $ 1,115 $ 2,151 Net income per share - basic $ 0.08 $ 0.15 Net income per share - diluted $ 0.08 $ 0.15 Weighted average common stock outstanding Basic 14,386 14,032 Diluted 14,563 14,796 The accompanying notes are an integral part of these consolidated financial statements. 3 DLH HOLDINGS CORP. CONSOLIDATED BALANCE SHEETS (in thousands, except par value of shares) December 31, 2024 September 30, 2024 (unaudited) ASSETS Current assets: Cash $ 451 $ 342 Accounts receivable 64,270 49,849 Other current assets 2,853 2,766 Total current assets 67,574 52,957 Goodwill 138,161 138,161 Intangible assets, net 104,207 108,321 Operating lease right-of-use assets 7,255 6,681 Deferred taxes, net 5,465 6,245 Equipment and improvements, net 2,189 1,830 Other long-term assets 158 186 Total assets $ 325,009 $ 314,381 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 18,723 $ 25,290 Debt obligations - current, net of deferred financing costs 27,595 12,058 Accrued payroll 15,123 12,848 Operating lease liabilities - current 2,753 2,652 Other current liabilities 494 394 Total current liabilities 64,688 53,242 Long-term liabilities: Debt obligations - long-term, net of deferred financing costs 134,623 137,316 Operating lease liabilities - long-term 13,354 12,789 Other long-term liabilities 904 902 T

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) December 31, 2024 1. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of DLH Holdings Corp. and its wholly-owned subsidiaries (together with its subsidiaries, "DLH" or the "Company" and also referred to as "we," "us" and "our"). All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying financial statements have been prepared in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these statements do not include all of the information and footnotes required by GAAP for complete financial statements. Operating results for the three months ended December 31, 2024 are not necessarily indicative of the results that may be expected for the year ending September 30, 2025 or any future period. Amounts as of December 31, 2024 and for the three months ended December 31, 2024 are unaudited. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended September 30, 2024 filed with the Securities and Exchange Commission on December 4, 2024. 2. Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The most significant of these estimates and assumptions relate to estimating costs including overhead and its allocation, valuing and determining the amortization periods for long-lived intangible assets, interest rate

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