DLH Holdings (DLHC) Financial Statements & Analysis

DLH Holdings (DLHC) Income Statement

DLH Holdings reported revenue of $344.50M in fiscal 2025 (fiscal year ended Sep 30, 2025), down 13.0% from $395.94M a year earlier. Net income was $1.36M, down 81.6% year over year, a net margin of 0.4%. Gross margin was 18.9% and operating margin 4.9%. In the most recent quarter, Q3 fiscal 2026 (ended Jun 30, 2026), revenue was $44.23M, down 46.9% from the same quarter a year earlier.

DLH Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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DLH Holdings Corp. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017
Revenue & Gross Profit
Revenue	344.50	395.94	375.87	395.17	246.09	209.19	160.39	133.24	115.66
Cost of Revenue	279.33	318.45	296.02	322.89	194.61	163.60	124.55	105.37	89.81
Gross Profit	65.16	77.49	79.86	72.29	51.48	45.59	35.84	27.86	25.85
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	31.20	35.54	37.80	30.73	26.14	24.20	20.53	16.84	17.47
Operating Expenses	48.38	52.59	55.09	39.01	34.26	32.13	25.87	19.08	19.22
Operating Income	16.79	24.90	24.76	33.28	17.22	13.46	9.97	8.78	6.63
Other Income/Expense
Interest Income	0.07	0.04	0.06	0.02	0.00	0.00	0.00	0.00	0.00
Interest Expense	-15.03	15.35	14.15	1.57	-3.78	3.56	2.49	1.08	1.15
Other Income/Expense	-15.03	-17.15	-7.67	-2.22	-3.78	-3.44	-2.47	-1.12	-1.23
Income
Income Before Tax	1.76	7.75	0.82	31.06	13.44	10.02	7.50	7.67	5.40
Income Tax Expense	0.39	0.35	-0.64	7.78	3.29	2.91	2.17	5.83	2.11
Net Income	1.36	7.40	1.46	23.29	10.15	7.11	5.32	1.84	3.29
Net Income - Continuous Operations	1.36	7.40	1.46	23.29	10.15	7.11	5.32	1.84	3.29
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	33.97	40.15	30.54	40.30	25.34	19.86	12.96	10.71	8.04
EBIT	16.79	23.10	14.97	32.64	17.22	-	-	-	-
Depreciation & Amortization	17.18	17.05	15.56	7.67	8.12	7.00	3.96	2.24	1.72
Earnings Per Share
Basic EPS	-	1.00	-	2.00	1.00	1.00	-	-	-
Diluted EPS	-	1.00	-	2.00	1.00	1.00	-	-	-
Basic Shares Outstanding	14.39	14.17	13.70	12.83	12.55	12.28	12.02	12.87	11.35
Diluted Shares Outstanding	14.46	14.41	14.43	14.18	13.60	13.11	13.04	12.87	12.35

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About DLH Holdings Financial Statements

What was DLH Holdings's revenue in fiscal 2025?

DLH Holdings reported revenue of $344.50M in fiscal 2025 (fiscal year ended Sep 30, 2025). That was down 13.0% from $395.94M a year earlier.

Is DLH Holdings profitable?

Yes. DLH Holdings earned net income of $1.36M in fiscal 2025, a net margin of 0.4%. In fiscal 2024 it earned $7.40M.

What is DLH Holdings's operating margin?

DLH Holdings's operating income was $16.79M on revenue of $344.50M in fiscal 2025, an operating margin of 4.9%, compared with 6.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition