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CACI Reports Results for Its Fiscal 2027 First Quarter

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Revenues of $2.5 billion, up 8.2% YoY

Net income of $130.4 million; Diluted EPS of $5.84, up 3.7% YoY

Adjusted net income of $171.0 million; Adjusted diluted EPS of $7.66, up 11.8% YoY

EBITDA of $328.8 million and EBITDA margin of 13.3%

Contract awards of $4.8 billion and book-to-bill of 2.0x

Raising fiscal year 2027 guidance for Revenue, Adjusted net income, and Adjusted EPS;
reaffirming guidance for other financial metrics

RESTON, Va., Oct. 21, 2026 /PRNewswire/ — CACI International Inc (NYSE: CACI) announced results today for its fiscal first quarter ended September 30, 2026.

“Our first quarter results represent a strong start to fiscal year 2027, highlighted by revenue and EBITDA growth, strong EBITDA margin, and healthy free cash flow. We also delivered a 2.0x book-to-bill and another quarter of double-digit funded backlog growth. Our mission proximity, software-defined approach, ability to invest ahead of customer need, and superior execution continue to differentiate CACI and drive our performance,” said John Mengucci, CACI President and Chief Executive Officer. “Based on our results, large and growing backlog, and healthy pipeline, we are raising our fiscal year 2027 revenue and earnings profit outlook while reaffirming guidance for other financial metrics. We remain confident in our ability to drive long-term growth in free cash flow per share and deliver exceptional value for our customers and shareholders.”

First Quarter Results

Three months ended

(in millions, except earnings per share and DSO)

9/30/2026

9/30/2025

     % Change1     

Revenues

$     2,474.6

$     2,287.6

8.2 %

Income from operations

$        247.5

$        212.3

16.6 %

Net income

$        130.4

$        124.8

4.5 %

Adjusted net income, a non-GAAP measure2

$        171.0

$        151.7

12.7 %

Diluted earnings per share

$          5.84

$          5.63

3.7 %

Adjusted diluted earnings per share, a non-GAAP measure2

$          7.66

$          6.85

11.8 %

Earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure2

$        328.8

$        268.6

22.4 %

Net cash provided by operating activities excluding MARPA, a non-GAAP measure2

$        144.8

$        160.0

(9.5) %

Free cash flow, a non-GAAP measure2

$        133.5

$        143.0

(6.6) %

Days sales outstanding (DSO)3

59

56

(1)

Percentages are calculated using the underlying whole dollar amounts. Some percentages may vary slightly due to rounding.

(2)

This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information

regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release. 

(3)

The DSO calculations for three months ended September 30, 2026 and 2025 exclude the impact of the Company’s Master Accounts Receivable Purchase Agreement

(MARPA), which was 7 days for both periods.

Revenues in the first quarter of fiscal year 2027 increased 8.2% year-over-year, including 2.1% organic growth. The increase in income from operations was driven by higher revenues and gross profit. Growth in diluted earnings per share and adjusted diluted earnings per share were driven by higher income from operations, partially offset by higher interest expense and a higher tax provision. The decrease in cash from operations, excluding MARPA, was driven primarily by higher working capital.

First Quarter Contract Awards
Contract awards in the first quarter totaled $4.8 billion, with approximately 61% for new business to CACI. Awards exclude ceiling values of multi-award, indefinite delivery, indefinite quantity contracts. Some notable awards during the quarter were:

CACI was awarded a one-year plus four option periods award to support U.S. Central Command (USCENTCOM) and its mission partners across a demanding and rapidly changing mission environment. The award has a ceiling of $1.5 billion, of which CACI recognized $1.2 billion of award and backlog value based on current requirements in the first quarter of fiscal year 2027. Through Apollo, CACI will help USCENTCOM make faster decisions and coordinate more effectively across commands and partners. The company’s capabilities will enhance planning, analysis, information integration, and mission execution across the command’s area of responsibility. CACI will help commanders turn information into actionable insight and operate with greater confidence in contested or denied territories, allowing warfighters to out-compete adversaries in the information environment.CACI was awarded a five-year, $1.6 billion task order to continue to help the U.S. Army Special Operations Command (USASOC) stay ahead of emerging threats across every domain. CACI recognized $1.2 billion of award and backlog value based on current requirements in the first quarter of fiscal year 2027. Through the Special Operations Forces Emerging Threats, Operations, and Planning Support 2 (SOFETOPS 2) program, CACI will continue providing critical operational planning and support that strengthens USASOC’s ability to act decisively and work seamlessly with its strategic partners wherever the mission requires.CACI was awarded a five-year task order valued at up to $281 million by the U.S. Navy’s Naval Surface Warfare Center (NSWC) Crane to support in strengthening and advancing next-generation electromagnetic warfare capabilities across the Department of War (DoW).CACI was awarded a 12-month extension to provide information technology system development, sustainment, and modernization to a government customer.CACI was awarded a five-year task order valued at up to $185 million to support the U.S. Army’s Program Manager Expeditionary Energy and Sustainment Systems (PM E2S2). CACI will develop and integrate technologies that help soldiers sustain operations in contested and austere environments.CACI was awarded a task order ceiling increase valued at up to $153 million to continue providing unmanned systems support to the U.S. Army Combat Capabilities Development Command (DEVCOM) – Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance (C5ISR) Center to enable warfighter rapid response to current and emerging threats.CACI was awarded a five-year task order to modernize financial management systems for a federal customer.CACI was awarded a three and a half-year contract to provide communications sustainment and modernization for a government customer.CACI was awarded a four-year task order valued at up to $146 million to support the Naval Surface Warfare Center Carderock Division (NSWCCD) in advancing next-generation maritime capabilities for the U.S. Navy.CACI was awarded a five-year contract to sustain and modernize financial management systems for a Department of War customer.

Total backlog as of September 30, 2026, was $34.0 billion compared with $33.9 billion a year ago, an increase of 0.3%. Funded backlog as of September 30, 2026, was $6.2 billion compared with $5.4 billion a year ago, an increase of 14.8%.

Additional Highlights

CACI was selected as one of 15 awardees to deliver technology that will defend U.S. interests against adversarial threats for the U.S. Space Force. Under the National Space Test and Training Complex (NSTTC) Innovative Technology & Engineering – Space Test and Range (NITE‑STAR) contract, CACI will deliver critical technology advancements that strengthen and modernize the test and training architectures required for realistic operations.CACI officially opened the CACI Manufacturing Center of Excellence for Defense Electronics in the Greater Rochester, New York, area, marking the next chapter in the company’s long-term investment in the region and continued transformation into a technology-first national security company. The additional 61,000-square-foot facility increases CACI’s manufacturing space by more than 300% and will serve as a hub for the development, test, assembly, and delivery of advanced electronic warfare technologies that give U.S. forces a decisive advantage in contested environments.CACI announced that Marcie Small has been appointed Executive Vice President and Chief Human Resources Officer. Small succeeds Angie Combs, who retired from the company after more than seven years of service. With more than 25 years of leadership experience in human capital management, Small has a proven track record of modernizing talent strategies, developing leaders, and building high-performing workforces.CACI announced the launch of Good Dogs for Great Americans, the company’s signature philanthropy program dedicated to helping veterans regain independence through specially trained service dogs. In partnership with the Washington Capitals and America’s VetDogs, the program turns defense on the ice into life-changing support for those who defended our nation.

Fiscal Year 2027 Guidance
The table below summarizes our fiscal year 2027 guidance and represents our views as of October 21, 2026.

(in millions, except earnings per share)

Fiscal Year 2027

Current guidance

Prior guidance

Revenues

$10,700 – $10,900

$10,650 – $10,850

Adjusted net income, a non-GAAP measure1

$740 – $760

$735 – $755

Adjusted diluted earnings per share, a non-GAAP measure1

$33.18 – $34.08

$32.96 – $33.86

Diluted weighted average shares

22.3

22.3

Free cash flow, a non-GAAP measure2

At least $900

At least $900

(1)

Adjusted net income and adjusted diluted earnings per share are defined as GAAP net income and GAAP diluted EPS, respectively, excluding

intangible amortization expense and the related tax impact. This non-GAAP measure should not be considered in isolation or as a substitute for

measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and

reconciliation to the GAAP measure included below in this release.

(2)

Free cash flow is defined as net cash provided by operating activities excluding MARPA, less payments for capital expenditures. This non-GAAP

 measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP.

Conference Call Information
We have scheduled a conference call for 8:00 a.m. Eastern time Thursday, October 22, 2026, during which members of our senior management will be making a brief presentation focusing on first quarter results and operating trends, followed by a question-and-answer session. You can listen to the webcast and view additional information provided in the accompanying slide exhibits on CACI’s investor relations website at http://investor.caci.com/events/default.aspx at the scheduled time. A replay of the call will also be available on CACI’s investor relations website at http://investor.caci.com/. 

About CACI
CACI International Inc (NYSE: CACI) is a technology-first national security company that expands the limits of national security through innovation, discipline, and operational excellence. We deliver advanced technologies that help our customers move faster, operate more efficiently, and anticipate and defeat evolving threats. Our 27,000 talented employees and strong culture drive our success and have earned CACI recognition as a Fortune World’s Most Admired Company. CACI is a member of the Fortune 500™, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit caci.com.

There are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that could cause actual results to be materially different from anticipated results. These risk factors include, but are not limited to, the following: our reliance on U.S. government contracts, which includes general risk around the government contract procurement process (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities, such as for homeland security or to address global pandemics; legal, regulatory, and political change from successive presidential administrations that could result in economic uncertainty; changes in U.S. federal agencies, current agreements with other nations, foreign events, or any other events which may affect the global economy, including the impact of global pandemics; the results of government audits and reviews conducted by the Defense Contract Audit Agency, the Defense Contract Management Agency, or other governmental entities with cognizant oversight; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); failure to achieve contract awards in connection with re-competes for present business and/or competition for new business; regional and national economic conditions in the United States and globally, including but not limited to: terrorist activities or war, changes in interest rates, currency fluctuations, significant fluctuations in the equity markets, and market speculation regarding our continued independence; our ability to meet contractual performance obligations, including technologically complex obligations dependent on factors not wholly within our control; limited access to certain facilities required for us to perform our work, including during a global pandemic; changes in tax law, the interpretation of associated rules and regulations, or any other events impacting our effective tax rate; changes in technology; the potential impact of the announcement or consummation of a proposed transaction and our ability to successfully integrate the operations of our recent and any future acquisitions; our ability to achieve the objectives of near term or long-term business plans; the effects of health epidemics, pandemics and similar outbreaks may have material adverse effects on our business, financial position, results of operations and/or cash flows; and other risks described in our Securities and Exchange Commission filings.

Corporate Communications and Media:  

Investor Relations:

Gino Bona, Executive Vice President, Corporate Communications          

George Price, Senior Vice President, Investor Relations

(571) 597-2787, gino.bona@caci.com

(703) 841-7818, george.price@caci.com

 

CACI International Inc

Consolidated Statements of Operations (Unaudited)

(in thousands, except per share data)

 

Three months ended

     9/30/2026     

     9/30/2025     

     % Change     

Revenues

$ 2,474,597

$ 2,287,623

8.2 %

Costs of revenues:

Direct costs

1,597,689

1,547,194

3.3

Indirect costs and selling expenses

550,113

473,856

16.1

Depreciation and amortization

79,267

54,298

46.0

Total costs of revenues

2,227,069

2,075,348

7.3

Income from operations

247,528

212,275

16.6

Interest expense and other, net

73,240

46,173

58.6

Income before income taxes

174,288

166,102

4.9

Income taxes

43,921

41,292

6.4

Net income

$   130,367

$   124,810

4.5 %

Basic earnings per share

$         5.90

$         5.67

4.1 %

Diluted earnings per share

$         5.84

$         5.63

3.7 %

Weighted-average basic shares outstanding

22,100

21,994

0.5 %

Weighted-average diluted shares outstanding               

22,316

22,166

0.7 %

 

CACI International Inc

 Consolidated Balance Sheets (Unaudited)

(in thousands)

 

     9/30/2026     

     6/30/2026     

ASSETS

Current assets:

Cash and cash equivalents

$      279,389

$      191,756

Accounts receivable, net

1,722,873

1,705,087

Prepaid expenses and other current assets

428,943

364,502

Total current assets

2,431,205

2,261,345

Goodwill

6,486,111

6,484,456

Intangible assets, net

2,018,764

2,072,991

Property, plant, and equipment, net

386,547

397,161

Operating lease right-of-use assets

390,617

381,980

Supplemental retirement savings plan assets

103,874

104,878

Other assets

130,417

116,833

Total assets

$  11,947,535

$  11,819,644

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Current portion of long-term debt

$       46,750

$       46,750

Accounts payable

463,031

521,669

Accrued compensation and benefits

263,877

284,602

Other accrued expenses and current liabilities

732,931

670,911

Total current liabilities

1,506,589

1,523,932

Long-term debt, net of current portion

4,789,313

4,854,759

Supplemental retirement savings plan obligations, net of current portion          

118,734

119,233

Deferred income taxes

407,454

376,580

Operating lease liabilities

447,236

431,769

Other liabilities

51,518

50,674

Total liabilities

7,320,844

7,356,947

Total shareholders’ equity

4,626,691

4,462,697

Total liabilities and shareholders’ equity

$  11,947,535

$  11,819,644

 

CACI International Inc

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

 

Three months ended

     9/30/2026     

     9/30/2025     

CASH FLOWS FROM OPERATING ACTIVITIES

Net income

$      130,367

$      124,810

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

79,267

54,298

Amortization of deferred financing costs

1,241

1,196

Stock-based compensation expense

21,711

14,691

Deferred income taxes

26,445

22,273

Other

3,077

—

Changes in operating assets and liabilities, net of effect of business acquisitions:

Accounts receivable, net

(17,797)

(15,967)

Prepaid expenses and other assets

(67,263)

(41,587)

Accounts payable and other accrued expenses

10,698

63,747

Accrued compensation and benefits

(20,346)

(41,443)

Income taxes

4,648

(11,456)

Operating lease liabilities, net

(9,725)

(1,418)

Long-term liabilities

(1,009)

1,921

Net cash provided by operating activities

161,314

171,065

CASH FLOWS FROM INVESTING ACTIVITIES

Capital expenditures

(11,359)

(17,014)

Acquisitions of businesses, net of cash acquired

5,000

15,800

Net cash used in investing activities

(6,359)

(1,214)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from borrowings

1,211,500

541,000

Principal payments on borrowings

(1,278,188)

(682,688)

Proceeds from employee stock purchase plans

4,031

3,796

Repurchases of common stock

(4,406)

(4,085)

Payment of taxes for equity transactions

(71)

(261)

Net cash used in financing activities

(67,134)

(142,238)

Effect of exchange rate changes on cash and cash equivalents

(188)

(774)

Net change in cash and cash equivalents

87,633

26,839

Cash and cash equivalents, beginning of period

191,756

106,181

Cash and cash equivalents, end of period

$      279,389

$      133,020

Revenues by Customer Type (Unaudited)

Three months ended

(in thousands)

9/30/2026

9/30/2025

$ Change

  % Change  

Department of War

$ 1,354,257

54.8 %

$ 1,179,626

51.5 %

$   174,631

14.8 %

Intelligence Community

611,977

24.7

596,429

26.1

15,548

2.6

Federal civilian agencies

396,398

16.0

411,730

18.0

(15,332)

(3.7)

Commercial and other

111,965

4.5

99,838

4.4

12,127

12.1

Total

$ 2,474,597

100.0 %

$ 2,287,623

100.0 %

$   186,974

8.2 %

Revenues by Contract Type (Unaudited)

Three months ended

(in thousands)

9/30/2026

9/30/2025

$ Change

  % Change  

Cost-plus-fee

$ 1,306,307

52.8 %

$ 1,382,630

60.5 %

$   (76,323)

(5.5) %

Fixed-price

821,826

33.2

611,493

26.7

210,333

34.4

Time-and-materials        

346,464

14.0

293,500

12.8

52,964

18.0

Total

$ 2,474,597

100.0 %

$ 2,287,623

100.0 %

$   186,974

8.2 %

Revenues by Prime or Subcontractor (Unaudited)

Three months ended

(in thousands)

9/30/2026

9/30/2025

$ Change

  % Change  

Prime Contractor            

$ 2,209,244

89.3 %

$ 2,076,899

90.8 %

$   132,345

6.4 %

Subcontractor

265,353

10.7

210,724

9.2

54,629

25.9

Total

$ 2,474,597

100.0 %

$ 2,287,623

100.0 %

$   186,974

8.2 %

Revenues by Technology or Expertise (Unaudited)

Three months ended

(in thousands)               

9/30/2026

9/30/2025

$ Change

  % Change  

Technology

$ 1,449,336

58.6 %

$ 1,300,732

56.9 %

$   148,604

11.4 %

Expertise

1,025,261

41.4

986,891

43.1

38,370

3.9

Total

$ 2,474,597

100.0 %

$ 2,287,623

100.0 %

$   186,974

8.2 %

Contract Awards (Unaudited)

Three months ended

(in thousands)

9/30/2026

9/30/2025

$ Change

  % Change  

Contract awards                            

$             4,828,329

$             4,998,684

$   (170,355)

(3.4) %

 

Note: Some percentages may vary slightly due to rounding.

Reconciliation of Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS (Unaudited)

Adjusted net income and adjusted diluted EPS are non-GAAP performance measures. We define adjusted net income and adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do not consider intangible amortization expense to be indicative of our operating performance. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance, provide greater visibility in understanding the long-term financial performance of the Company, and allow investors to more easily compare our results to results of our peers. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.

Three months ended

(in thousands, except per share data)                                        

9/30/2026

9/30/2025

% Change

Net income, as reported

$  130,367

$  124,810

4.5 %

Intangible amortization expense

54,313

36,033

50.7

Tax effect of intangible amortization1

(13,723)

(9,104)

50.7

Adjusted net income

$  170,957

$  151,739

12.7 %

Three months ended

9/30/2026

9/30/2025

% Change

Diluted EPS, as reported

$      5.84

$      5.63

3.7 %

Intangible amortization expense

2.43

1.63

49.1

Tax effect of intangible amortization1

(0.61)

(0.41)

48.8

Adjusted diluted EPS

$      7.66

$      6.85

11.8 %

FY27 guidance range

(in millions, except per share data)

Low end

High end

Net income

$       579

—

$       599

Intangible amortization expense

215

—

215

Tax effect of intangible amortization1

(54)

—

(54)

Adjusted net income

$       740

—

$       760

FY27 guidance range

Low end

High end

Diluted EPS

$     25.96

—

$     26.86

Intangible amortization expense

9.64

—

9.64

Tax effect of intangible amortization1

(2.42)

—

(2.42)

Adjusted diluted EPS

$     33.18

—

$     34.08

(1)      Calculation uses an assumed full year statutory tax rate of 25.3% on non-GAAP tax deductible adjustments for

           September 30, 2026 and 2025.

Note:  Numbers may not sum due to rounding.

Reconciliation of Net Income to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Unaudited)

The Company views EBITDA and EBITDA margin, both of which are defined as non-GAAP measures, as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. EBITDA is a commonly used non-GAAP measure when comparing our results with those of other companies. We define EBITDA as GAAP net income plus net interest expense, income taxes, and depreciation and amortization expense (including depreciation within direct costs). We consider EBITDA to be a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business on a consistent basis across reporting periods, as it eliminates the effect of non-cash items such as depreciation of tangible assets and amortization of intangible assets primarily recognized in business combinations, which we do not believe are indicative of our operating performance. EBITDA margin is EBITDA divided by revenue. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.

Three months ended

(in thousands)

9/30/2026

9/30/2025

     % Change     

Net income, as reported

$                 130,367

$                 124,810

4.5 %

Plus:

Income taxes

43,921

41,292

6.4

Interest income and expense, net

73,240

46,173

58.6

Depreciation and amortization expense, including amounts within direct costs

81,300

56,338

44.3

EBITDA

$                 328,828

$                 268,613

22.4 %

Three months ended

(in thousands)

9/30/2026

9/30/2025

     % Change     

Revenues, as reported

$              2,474,597

$              2,287,623

8.2 %

EBITDA

328,828

268,613

22.4

EBITDA margin

13.3 %

11.7 %

Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA and to Free Cash Flow (Unaudited)

The Company defines net cash provided by operating activities excluding MARPA, a non-GAAP measure, as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude cash flows from CACI’s MARPA for the sale of certain designated eligible U.S. government receivables up to a maximum amount of $350.0 million. Free cash flow is a non-GAAP liquidity measure and may not be comparable to similarly titled measures used by other companies. The Company defines free cash flow as net cash provided by operating activities excluding MARPA, less payments for capital expenditures. The Company uses these non-GAAP measures to assess our ability to generate cash from our business operations and plan for future operating and capital actions. We believe these measures allow investors to more easily compare current period results to prior period results and to results of our peers. Free cash flow does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP.

Three months ended

(in thousands)

     9/30/2026     

     9/30/2025     

Net cash provided by operating activities, as reported

$   161,314

$   171,065

Cash provided by MARPA

(16,466)

(11,091)

Net cash provided by operating activities excluding MARPA                                                                                     

144,848

159,974

Capital expenditures

(11,359)

(17,014)

Free cash flow

$   133,489

$   142,960

FY27 guidance

(in millions)

Current

Prior

Net cash provided by operating activities

$     1,015

$     1,015

Cash provided by MARPA

—

—

Net cash provided by operating activities excluding MARPA

1,015

1,015

Capital expenditures

(115)

(115)

Free cash flow

$        900

$        900

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SOURCE CACI International Inc

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Warhound Launches with $200 Million to Rebuild America’s Military Working Dog Supply, Using Advanced Genetics and Defense Technology

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Company will produce genetically enhanced working dogs that leverage cybernetics technology to improve health and performance while ending reliance on foreign suppliers

DALLAS and COSTA MESA, Calif., Oct. 23, 2026 /PRNewswire/ — Warhound, a new defense technology company conceived by American technology entrepreneurs Ben Lamm and Palmer Luckey emerged from stealth with a $200 million seed round. Warhound will rebuild America’s domestic supply of elite working dogs for U.S. military forces, law-enforcement, emergency first response teams—a critical national security resource that the U.S. has long relied on foreign countries to provide. Led by CEO David Spirk, the company will reduce dependence on a shrinking European supply chain and strengthen America’s ability to protect its own people, infrastructure, and national security interests.

Warhound is modernizing America’s working-dog program by delivering a vertically integrated program, combining Colossal’s enhanced genetics platform and secure biobanking capabilities of America’s top-performing dog arsenal, controlled delivery through cloning with best-in-class training and animal care. Through a partnership, all dogs will be equipped by Anduril’s advanced cybernetic Augments, software, and battlefield situational awareness. The company is backed by In-Q-Tel, Sequoia Capital, ARK Invest, Franklin Templeton, 8VC, USIT, Bob Nelsen, Breyer Capital, CAZ Investments, Neogenesis, Builders VC, and Lux Capital among others. Based in Texas, Warhound will operate under the guidance of the American Humane Society which will certify its training programs and support the reunification of retired military working dogs with their former handlers and adoption protocols.

“Palmer, Ben and the Warhound team are exceptional. Sequoia is proud to back them,” said Shaun Maguire, Partner at Sequoia Capital.

Warhound is bringing together Colossal’s breakthroughs in genetics, cloning, and animal biology with Anduril’s advanced defense technology to fundamentally change how America produces, trains, and protects its military working dogs. Colossal’s science will help produce healthier dogs with characteristics suited to demanding missions, while Anduril’s technology will give dogs and their handlers greater awareness and protection in the field.

“Every day, we ask dogs to put their lives on the line to protect ours. They detect explosives, protect our troops, and run toward dangers that most people are trained to run away from. Yet we’re still relying on outdated approaches to breeding and training these extraordinary animals, with too many never making it through the process. We have an opportunity to fundamentally change that. Colossal has spent years pioneering breakthroughs in genetics, cloning, and animal biology, and now we’re applying that science to give these dogs the best possible chance at a long, healthy life and a successful mission. If we’re going to ask man’s best friend to protect America, we owe it to them to use every tool at our disposal to protect them, too,” said Ben Lamm.

Since the Army established the K-9 Corps in 1942, military working dogs have served alongside America’s armed forces for more than 84 years—detecting threats, protecting service members and supporting missions worldwide. That program has evolved in The United States Department of War’s (DOW) Military Working Dog Program, which currently includes 2,200+ working dog teams that are operationally critical for detection and patrol work, and a critical part of the defense infrastructure of the country. More than 80% of U.S. military working dogs are currently acquired from Europe, creating a critical interdependency on foreign nations for an asset the Pentagon itself calls irreplaceable. That dependency is compounding: after a rigorous, roughly three-year acquisition-and-training pipeline, less than half of the dogs procured are ultimately deemed fit for service, meaning the U.S. must source and train roughly 200 dogs today to field 100 working animals tomorrow.

“Man’s best friend deserves man’s best tech,” said Palmer Luckey. 

David Spirk has been named the CEO of Warhound. As a veteran of the United States Marine Corps, he worked as an intelligence specialist with multiple deployments and ultimately served as the Deputy Associate Director of National Intelligence for Afghanistan and Pakistan at the Office of the Director of National Intelligence representing the Intelligence Community at the White House and on Capital Hill. He has an extensive background in the U.S. military, intelligence community, and federal data governance, specifically focused on scaling algorithmic warfare and creating data driven advantages. More recently, he was a Senior Counselor at Palantir Technologies where he focused on expanding the company’s software footprints across the U.S. government, allied international partners, and commercial sectors. Previously, he was appointed the First Chief Data Officer (CDO) for the Department of War, where he worked on accelerating the military’s data-driven capabilities and was the first CDO for the U.S. Special Operations Command (USSOCOM).

“Our long-term goal is simple: healthier dogs, better-prepared teams, and more service members and first responders coming home safely. Leading Warhound, and strengthening America’s working-dog capabilities, is an opportunity to apply my experience to a mission I care deeply about: protecting people and helping the animals who support them,” said David Spirk. “My focus is building a team that can turn scientific advances into capabilities that work in the field.”

Building Healthier, More Capable Working Dogs to Protect Both Dogs and People
The concept of Warhound was conceived years ago by Palmer and Ben after a discussion at Peter Diamandis’ Moonshots Summit. Military working-dog programs face a costly challenge: more than half of candidate dogs fail to complete training, while reliance on overseas breeders leaves the United States dependent on a constrained foreign supply chain. Warhound was created to improve that system—producing fewer dogs with a greater likelihood of remaining healthy, completing training, and succeeding in their missions.

Warhound dog-and-handler teams will also connect Anduril’s integrated capabilities—including eye and ear protection and Eagle Eye technology—will help safeguard working dogs, their handlers and the wider unit while supporting safer, more effective missions.

“For millennia, people have selectively bred dogs to be companions and helpmates. Modern biotechnology gives us a more precise way to shape some of their traits, thus improving both the work dogs do and their own health and well-being,” said Alta Charo, Warren P. Knowles Professor Emerita of Law and Bioethics at the University of Wisconsin–Madison. “The Warhound project offers the possibility of improving working dogs’ health and welfare while supporting the lifesaving work they do. But we still must look carefully at who benefits, what risks the animals bear, and how concern for animal welfare translates into practice through careful evaluation of the evidence, meaningful oversight, and responsibility for the dogs throughout their lives, including retirement. The American Humane Society brings valuable experience through its military working dog reunification efforts and Pups4Patriots program. That experience provides a foundation, but public trust has to be earned through the care we provide and the commitments we keep.”

Animal welfare is central to the program. By improving health, durability, and training success, Warhound will significantly reduce washouts, limit the number of dogs unnecessarily entering intensive training and enable safer, more effective missions. Technologies and therapeutics developed through the program will also be made available to all dogs and ultimately improve the health of all dogs, not only those serving alongside America’s service men and women. Together, these capabilities will establish a secure domestic supply of military working dogs while giving American service members healthier, more capable canine partners.

“Working dogs are extraordinary animals whose courage and loyalty save lives,” said Dr. Robin Ganzert, President and CEO of American Humane Society. “We owe these dogs a commitment to their well-being that matches their service to us. What excites me about Warhound is the opportunity to make health, welfare, and exceptional care fundamental to a working-dog program from the very beginning. Success means helping these dogs thrive throughout their lives—from training and active service to the loving, dignified retirement every canine hero deserves.”

Warhound is built to take today’s level of performance and make it better: using cutting edge engineering and technology, on American soil, from American companies, without the wait times, price volatility, or geopolitical exposure of a foreign supply chain.

About Warhound
Warhound is a Texas-based defense technology company building a secure domestic supply of healthier, more capable working dogs for the U.S. military, law enforcement and emergency responders. Conceived by Palmer Luckey and Ben Lamm, Warhound combines biotechnology licensed from Colossal Biosciences with advanced training and Anduril’s cybernetic augments and software. The company aims to reduce reliance on foreign suppliers, improve canine health and performance, and enhance safety for dogs and their handlers. Animal welfare is central to Warhound’s mission, with a commitment to lifelong care from birth through training, service and retirement. To follow along, please visit: warhound.com.

About Anduril
Anduril Industries is a defense technology company that builds autonomous systems and a common operating layer to give the United States and its allies a persistent advantage in sensing, decision-making, and force projection.

About the American Humane Society
The American Humane Society is the country’s first national humane organization and a global leader in animal welfare. Founded in 1877, American Humane has been at the forefront of protecting animals, rescuing them from cruelty, abuse, and natural disasters, and setting the gold standard in science-based welfare certifications. The organization oversees prominent programs including the iconic “No Animals Were Harmed®” film and television certification, the American Humane Certified™ farm and zoo standards, military working dog reunifications, and the Pups4Patriots™ service dog program. Learn more at americanhumane.org. 

About Colossal Biosciences
Colossal was founded by emerging technology and software entrepreneur Ben Lamm and world-renowned geneticist and serial biotech entrepreneur George Church, Ph.D., and is the first to apply CRISPR technology for the purposes of species de-extinction. Colossal creates innovative technologies for species restoration, critically endangered species protection and the repopulation of critical ecosystems that support the continuation of life on Earth. Colossal is accepting humanity’s duty to restore Earth to a healthier state, while also solving for the future economies and biological necessities of the human condition through cutting-edge science and technologies. To follow along, please visit: www.colossal.com.

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Best Version Media Names Chris Laurence Next CEO; Kevin O’Brien Transitions to CRO

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Leadership investment strengthens companywide execution and sharpens focus on Publisher success and revenue growth

BROOKFIELD, Wis., Oct. 23, 2026 /PRNewswire/ — Best Version Media (BVM), a local media and marketing company serving more than 1,300 communities across the United States and Canada, today announced that Chris Laurence has joined the company as Chief Executive Officer. Kevin O’Brien, who previously served as CEO, will transition to Chief Revenue Officer, focusing on leading BVM’s sales field and accelerating revenue growth.

The appointments reflect BVM’s investment in leadership to support its next stage of growth. By establishing dedicated executive leadership for the broader organization and the sales field, BVM is strengthening its ability to execute across the business while supporting its independent Publishers and the local businesses they serve.

“Our growth has brought us to a point where leading the overall company and leading our sales field each deserve a dedicated focus,” said O’Brien. “This transition allows me to concentrate on working with our sales leaders and Publishers, strengthening the field, and helping more local businesses connect with their communities. I’m excited to partner with Chris as we build on BVM’s momentum.”

Laurence brings experience as CEO, CFO, and COO of public, private, and private equity-backed companies, where he has led growth, operational improvement, and technology transformation. Before moving into operating roles, he was a general partner at Brentwood Associates, a Los Angeles-based private equity firm.

“BVM has built a powerful combination of community storytelling, local relationships, and marketing solutions for small businesses,” said Laurence. “I look forward to working with Kevin and the entire team to build on that foundation, strengthen how we operate, and support the success of our Publishers and clients.”

As CEO, Laurence will lead BVM’s overall strategy and operations, working with the team to scale operations and support the success of our Publishers and the local businesses they serve. As CRO, O’Brien will focus on sales leadership, Publisher growth, and revenue generation. Together, they will help advance BVM’s print and digital offerings and position the company for continued growth.

About Best Version Media

Founded in 2007, Best Version Media (BVM) connects local businesses with customers through community magazines, targeted digital advertising, and online presence management tools. Serving more than 1,300 communities across the United States and Canada, BVM’s network of independent Publishers builds relationships with local businesses and brings community stories to life. BVM is a portfolio company of H.I.G. Capital. To learn more, visit www.bestversionmedia.com.

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Dow and Small Caps Climb Weekly While Nasdaq Slips on Megacap Earnings Charges

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VANCOUVER, BC, Oct. 23, 2026 /PRNewswire/ — Stock Preachers News Commentary – Stocks closed a volatile earnings week with a split verdict: the Dow gained 0.64% and the Russell 2000 jumped 2.07%, while the Nasdaq Composite fell 0.45% and the S&P 500 slipped 0.22%. The VIX rose to 19.40 and the VXN climbed to 28.13 as traders weighed a wave of third-quarter results. Gold dropped 3.47% and silver fell 4.90% on the week, while WTI crude rose 3.74% on Thursday alone. The 10-year Treasury yield eased 11 basis points to 4.99%. Active Companies from around the markets with current developments this week include: Meta Platforms, Inc. (Nasdaq: META), Texas Instruments Incorporated (Nasdaq: TXN), RTX (NYSE: RTX), IBM (NYSE: IBM), and First Citizens BancShares, Inc. (Nasdaq: FCNCA).

Large-cap benchmarks diverged sharply this week. The Dow closed at 52,337.54, up 0.64% for the week despite a 1% drop on Friday, while the S&P 500 ended at 7,642.22, down 0.22% weekly after touching a week high of 7,770.40. The Nasdaq Composite settled at 26,022.45, down 0.45% on the week, dragged by a rough stretch for megacap tech following a batch of earnings reports.

The Russell 2000 was the standout, closing at 2,777.63 for a 2.07% weekly gain, outperforming its large-cap peers as investors rotated toward smaller names. RSI readings show the Nasdaq at 38.9 and the S&P 500 at 43.5, both in cooler territory, while the Dow’s RSI of 54.1 reflects its relative strength this week.

Volatility ticked higher into the weekend, with the VIX up 0.96 points for the week to 19.40 and the VXN up a full point to 28.13. In commodities, natural gas spiked 8.66% on Thursday alone even as it remained down 0.65% for the week, while copper rose 2.44% daily. The dollar firmed slightly against the euro, with EUR/USD down 0.24% on the week to 1.12.

The full report also breaks down key support and resistance levels for each index, additional earnings movers, and sentiment heading into next week’s sessions.

CONTINUED… Read this and more news for Meta Platforms, Inc. (Nasdaq: META), Texas Instruments Incorporated (Nasdaq: TXN), RTX (NYSE: RTX), IBM (NYSE: IBM), and First Citizens BancShares, Inc. (Nasdaq: FCNCA) at: https://stockpreachers.com/articles/small-caps-lead-big-tech-lags-as-earnings-season-shakes-the-tape/

In other industry developments and happenings in the market this week include:

Meta Platforms, Inc. (Nasdaq: META) Meta reported third-quarter revenue of $64.60 billion, up 26% year over year, but net income of $9.86 billion reflected a $9.89 billion charge tied to an agreement with 52 state attorneys general over teen mental health and social media litigation. Diluted EPS was $3.83, up 265% year over year; excluding the litigation charge, EPS would have been $7.40.

Operating margin fell to 20% from 40% a year earlier, while costs and expenses rose 68% to $51.61 billion. Capital expenditures, including finance lease payments, totaled $34.91 billion, and free cash flow was negative $2.12 billion for the quarter.

“We hit major milestones this quarter toward delivering personal superintelligence for everyone – including launching Muse and Muse Wonder, our first frontier model,” said Mark Zuckerberg, Meta founder and CEO. “Our investments are paying off, the core business is strong, and we’re seeing velocity across the board.” The company guided fourth-quarter revenue to a range of $73-76 billion and raised full-year 2026 total expense guidance to $175-179 billion. Read the release.

Texas Instruments Incorporated (Nasdaq: TXN) Texas Instruments reported third-quarter revenue of $6.06 billion, up 28% from a year earlier, with net income of $2.43 billion and earnings per share of $2.62. Operating profit rose 73% to $2.87 billion, and revenue increased 11% sequentially.

“Revenue increased 11% sequentially and 28% from the same quarter a year ago with continued broad growth in industrial, automotive and data center,” said Haviv Ilan, TI’s chairman, president and CEO. Trailing 12-month cash flow from operations was $9.9 billion, with free cash flow of $8.4 billion.

The company returned $5.8 billion to shareholders over the trailing 12 months and guided fourth-quarter revenue to a range of $5.80 billion to $6.30 billion, with earnings per share expected between $2.45 and $2.79. Read the release.

RTX (NYSE: RTX) RTX reported third-quarter sales of $25.0 billion, up 11% versus the prior year and 12% organically, with adjusted EPS of $2.26, up 33% from a year earlier. GAAP EPS was $1.89. Operating cash flow was $2.9 billion and free cash flow was $2.1 billion, with results including $0.25 of IEEPA cost recovery per share.

The company’s backlog reached a record $340 billion, including $176 billion commercial and $164 billion defense, after over $81 billion of new awards including Tomahawk and AMRAAM multi-year production contracts.

“Our strong execution and operational focus in the third quarter enabled RTX to deliver double-digit organic sales growth across commercial aerospace and defense,” said RTX Chairman and CEO Chris Calio. The company raised its full-year adjusted EPS outlook to $7.65-$7.75 and adjusted sales guidance to $97.0-$97.5 billion. Read the release.

IBM (NYSE: IBM) IBM reported third-quarter revenue of $17.1 billion, up 5% as reported and 6% at constant currency, with Software revenue up 8% and Infrastructure revenue up 4%. GAAP diluted earnings per share were $2.31, up 26% year over year, while operating (non-GAAP) EPS was $2.95, up 11%.

The company generated $4.0 billion in net cash from operating activities in the quarter and $3.0 billion in free cash flow, up $0.7 billion year over year. Year to date, free cash flow reached $7.8 billion.

“Disciplined execution throughout the quarter drove accelerated revenue growth and strong free cash flow,” said Arvind Krishna, IBM chairman, president and chief executive officer. IBM now expects full-year free cash flow to increase by more than $1 billion year over year, while continuing to guide constant currency revenue growth of four to five percent. Read the release.

First Citizens BancShares, Inc. (Nasdaq: FCNCA) First Citizens BancShares reported third-quarter net income of $606 million, down from $672 million in the linked quarter. Net income available to common stockholders was $577 million, or $51.23 per common share, a $63 million decrease from the prior quarter’s $640 million.

Net interest income rose to $1.70 billion, up $43 million from the linked quarter, while net interest margin declined 3 basis points to 3.07%. The company completed its BMO Branch Acquisition on September 4, 2026, assuming approximately $4.9 billion in deposits and acquiring approximately $650 million in loans.

“We returned $600 million to our stockholders through share repurchases and further optimized our balance sheet by repaying another $8.0 billion of the Purchase Money Note,” said Chairman and CEO Frank B. Holding, Jr. The board approved a new repurchase plan authorizing up to $1.2 billion of Class A common shares through 2027. Read the release.

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