Maximus agreed on October 19, 2026 to acquire Agile Defense, LLC from Arclight Equity Holdings for $660 million in cash, subject to adjustments and up to $50 million in additional contingent payments tied to revenue milestones. The company also reported preliminary leverage of 2.2x to 2.3x including the deal, up from 1.7x excluding it, which it said remains within its 2x to 3x target range.
Cash purchase price of $660 million, reduced by Agile Defense debt and certain transaction expenses, with possible earnout of up to $50 million over the twelve months after closing
Preliminary debt-to-EBITDA ratio of 1.7x without the acquisition and between 2.2x and 2.3x including it, for the quarter ended September 30, 2026
Expected closing in the first quarter of fiscal 2027; either party may terminate if the deal has not closed by December 18, 2026
Shareholder approval is not required; the deal is subject to customary conditions including Hart-Scott-Rodino waiting period expiration
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
From Maximus Inc.'s 10-Q and 10-K filings (SEC XBRL). YoY compares each quarter with the same quarter a year earlier; it is blank when the year-ago figure is missing or negative.
Annual results
Fiscal year
Revenue
Growth
EPS (diluted)
Growth
Net margin
FY2025
$5.43B
+2.4%
$5.51
+10.4%
5.9%
FY2024
$5.31B
+8.2%
$4.99
+89.7%
5.8%
FY2023
$4.90B
+5.9%
$2.63
-20.1%
3.3%
FY2022
$4.63B
+8.9%
$3.29
-29.6%
4.4%
FY2021
$4.25B
+22.9%
$4.67
+37.8%
6.8%
Frequently asked questions
When is Maximus's next earnings date?
Maximus (MMS) is scheduled to report on Thursday, November 19, 2026 before the market opens. Analysts expect EPS of $1.88.
What did Maximus earn last quarter?
For the quarter ended Jun 2026, Maximus reported diluted EPS of $1.95 (+4.8% year over year) on revenue of $1.28B (-5.1%).
Where do these numbers come from?
Reported revenue, net income and EPS come from the company's own 10-Q and 10-K filings with the SEC (XBRL data). The report date and consensus estimate come from the Nasdaq earnings calendar.
Not investment advice. Figures can be restated by the company in later filings.