| Schedule of Disaggregation of Revenue |
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| Table 4.1: Revenue by Service Type |
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For the Three Months Ended |
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For the Six Months Ended |
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March 31, 2025 |
|
March 31, 2024 |
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March 31, 2025 |
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March 31, 2024 |
|
(dollars in thousands) |
| Program Operations |
$ |
690,772 |
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|
50.7 |
% |
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$ |
665,050 |
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49.3 |
% |
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$ |
1,418,739 |
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51.3 |
% |
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$ |
1,352,420 |
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|
50.6 |
% |
| Clinical Services |
503,963 |
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|
37.0 |
% |
|
466,623 |
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34.6 |
% |
|
975,489 |
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35.3 |
% |
|
894,992 |
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33.5 |
% |
| Employment & Other |
78,989 |
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5.8 |
% |
|
116,072 |
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8.6 |
% |
|
192,607 |
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7.0 |
% |
|
234,360 |
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8.8 |
% |
| Technology Solutions |
88,062 |
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6.5 |
% |
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100,612 |
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7.5 |
% |
|
177,626 |
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6.4 |
% |
|
193,626 |
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|
7.2 |
% |
| Total revenue |
$ |
1,361,786 |
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$ |
1,348,357 |
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$ |
2,764,461 |
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$ |
2,675,398 |
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| Table 4.2: Revenue by Contract Type |
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For the Three Months Ended |
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For the Six Months Ended |
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March 31, 2025 |
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March 31, 2024 |
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March 31, 2025 |
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March 31, 2024 |
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(in thousands) |
| Performance-based |
$ |
714,406 |
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|
52.5 |
% |
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$ |
738,888 |
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54.8 |
% |
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$ |
1,432,177 |
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51.8 |
% |
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$ |
1,443,599 |
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54.0 |
% |
| Cost-plus |
334,499 |
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24.6 |
% |
|
334,498 |
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24.8 |
% |
|
718,926 |
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26.0 |
% |
|
676,513 |
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25.3 |
% |
| Fixed price |
185,009 |
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13.6 |
% |
|
166,816 |
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12.4 |
% |
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359,688 |
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13.0 |
% |
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343,493 |
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12.8 |
% |
| Time and materials |
127,872 |
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9.4 |
% |
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108,155 |
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8.0 |
% |
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253,670 |
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9.2 |
% |
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211,793 |
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|
7.9 |
% |
| Total revenue |
$ |
1,361,786 |
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$ |
1,348,357 |
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$ |
2,764,461 |
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$ |
2,675,398 |
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| Table 4.3: Revenue by Customer Type |
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For the Three Months Ended |
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For the Six Months Ended |
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March 31, 2025 |
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March 31, 2024 |
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March 31, 2025 |
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March 31, 2024 |
|
(dollars in thousands) |
| New York state government agencies |
$ |
155,949 |
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11.5 |
% |
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$ |
166,952 |
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12.4 |
% |
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$ |
317,644 |
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11.5 |
% |
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$ |
327,486 |
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12.2 |
% |
| Other U.S. state government agencies |
287,184 |
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21.1 |
% |
|
316,195 |
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23.5 |
% |
|
578,251 |
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20.9 |
% |
|
642,604 |
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24.0 |
% |
| Total U.S. state government agencies |
443,133 |
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483,147 |
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|
895,895 |
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|
970,090 |
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| U.S. federal government agencies |
759,583 |
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55.8 |
% |
|
685,939 |
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50.9 |
% |
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1,524,020 |
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55.1 |
% |
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1,348,885 |
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50.4 |
% |
| International government agencies |
138,724 |
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10.2 |
% |
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156,796 |
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11.6 |
% |
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305,590 |
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11.1 |
% |
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312,408 |
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11.7 |
% |
| Other, including local municipalities and commercial customers |
20,346 |
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1.5 |
% |
|
22,475 |
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1.7 |
% |
|
38,956 |
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1.4 |
% |
|
44,015 |
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|
1.6 |
% |
| Total revenue |
$ |
1,361,786 |
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$ |
1,348,357 |
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$ |
2,764,461 |
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$ |
2,675,398 |
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| Table 4.4: Effect of Changes in Contract Estimates |
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For the Three Months Ended |
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For the Six Months Ended |
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March 31, 2025 |
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March 31, 2024 |
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March 31, 2025 |
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March 31, 2024 |
|
(in thousands, except per share data) |
| Increase in/(reduction of) revenue recognized due to changes in contract estimates |
$ |
3,804 |
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$ |
(3,098) |
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$ |
10,573 |
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$ |
(9,169) |
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| Increase in/(reduction of) diluted earnings per share recognized due to changes in contract estimates |
$ |
0.05 |
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$ |
(0.04) |
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$ |
0.13 |
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$ |
(0.11) |
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