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DLH Holdings (DLHC) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Jul 29, 2026 · DLH Holdings (DLHC) Q3 FY26 earnings results →

Q3 FY26 Revenue down 47% year over year to $44.2M · 38¢ of every $1 of revenue lost · operating margin -8.9%

DLH Holdings made $44.2M in Q3 FY26 (-47% Y/Y). Operating margin -8.9%, net loss $16.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 29, 2026.

Revenue$44.2M
Year over year-47%
Operating margin-8.9%
Net earnings−$16.8M
Operating cash flow$4.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $44.2M in Q3 FY26, down 47% year over year and down 25% from the previous quarter.

Operating costs exceeded revenue by $3.9M, an operating margin of -8.9%. Total costs fell 39% while revenue fell 47%. The quarter ended with a net loss of $16.8M, wider than the previous quarter's $2.5M loss.

Operating cash flow was $4.2M (down 56% year over year). Non-cash charges added back $4.0M of depreciation and amortization. Working capital and other items added $17.0M.

Quarterly history

DLH Holdings revenue by quarterDLH Holdings revenue by quarter$96.4MQ4 FY24$89.2MQ2 FY25$83.3MQ3 FY25$81.2MQ4 FY25$68.9MQ1 FY26$59.3MQ2 FY26$44.2MQ3 FY26
DLH Holdings net earnings by quarterDLH Holdings net earnings by quarter$2.3MQ4 FY24$878KQ2 FY25$289KQ3 FY25−$920KQ4 FY25−$1.3MQ1 FY26−$2.5MQ2 FY26−$16.8MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QJul 29, 2026$44.2M-47%-8.9%−$16.8M$4.2M
Q2 FY2610-QMay 6, 2026$59.3M-34%-0.1%−$2.5M$3.8M
Q1 FY2610-QFeb 9, 2026$68.9M-24%2.1%−$1.3M−$4.8M
Q4 FY2510-KDec 10, 2025$81.2M-16%2.8%−$920K$10.7M
Q3 FY2510-QAug 6, 2025$83.3M-17%4.5%$289K$9.6M
Q2 FY2510-QMay 9, 2025$89.2M-12%5.7%$878K$14.5M
Q4 FY2410-KDec 4, 2024$96.4M-5%6.6%$2.3M$12.4M

Charts

DLH Holdings: revenue growth, year over year and quarter over quarterDLH Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q-5%Q4 FY24-12%-7%Q2 FY25-17%-7%Q3 FY25-16%-3%Q4 FY25-24%-15%Q1 FY26-34%-14%Q2 FY26-47%-25%Q3 FY26
Latest (Q3 FY26): Y/Y -47%, Q/Q -25%.
DLH Holdings: where the cash came from (+) and went (−), TTM to Q3 FY26DLH Holdings: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$13.9MNet borrowing (+) / repaid (−)−$13.5MOther financing−$252KCapital spending−$67KCash drawn (+) / kept (−)−$41K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
DLH Holdings: profit against cash, quarter by quarterDLH Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$2.3M$12.4MQ4 FY24$1.1M−$11.5MQ1 FY25$878K$14.5MQ2 FY25$289K$9.6MQ3 FY25−$920K$10.7MQ4 FY25−$1.3M−$4.8MQ1 FY26−$2.5M$3.8MQ2 FY26−$16.8M$4.2MQ3 FY26
Latest (Q3 FY26): Net income −$16.8M, Operating cash flow $4.2M.
DLH Holdings: diluted shares by fiscal yearDLH Holdings: diluted shares by fiscal year13MFY2014MFY2114MFY2214MFY2314MFY2414MFY25
+10.3% since FY20: more shares outstanding (issuance, stock pay).
DLH Holdings: long-term debt falling due (FY25)DLH Holdings: long-term debt falling due (FY25)$8.1M2026$23.8M2027$99.8M2028
Cash $125K, short-term investments —, long-term debt $128M at 2025-09-30.
DLH Holdings in its industry: growth against margin (17 companies, SIC 7363)DLH Holdings in its industry: growth against margin (17 companies, SIC 7363)revenue growth, year over year →↑ operating marginmedian +5%median 2%MANNSPRHIEFORKELYAAMNTBITTECKFRCBBSICIRCRCMTSTRRBGSFHQIRLBYDLHC (-47%, -9%)
Services-Help Supply Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About DLH Holdings

DLH Holdings Corp. ("DLH") delivers improved health and readiness solutions for federal government customers through digital transformation and cyber security, science research and development, and systems engineering and integration. We bring a unique combination of government sector experience, proven methodology, and unwavering commitment to solve the complex problems faced by civilian and military customers alike, doing so by leveraging multiple capabilities, including cyber technology, artificial intelligence, advanced analytics, cloud-based applications, and telehealth systems.

In its own words, from its 10-K, filed Dec 10, 2025.

DLH Holdings against its Services-Help Supply Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -47% against the peers' median +2%. Operating margin: -8.9% against the peers' median 2.3%.

CompanyQuarterRevenueY/YOp. margin
DLHC DLH HoldingsQ3 FY26$44.2M-47%-8.9%
MAN ManpowerGroupQ3 2026$4.8B+4%1.7%
NSP InsperityQ3 2026$1.7B+2%-0.1%
RHI Robert HalfQ3 2026$1.4B+0.4%5.5%
EFOR EverforthQ3 2026$1.0B+2%5.5%
KELYA Kelly ServicesQ3 2026$927M-0.8%0.1%
AMN AMN Healthcare ServicesQ3 2026$717M+13%7.0%
TBI TrueBlueQ3 2026$521M+21%2.3%
TTEC Ttec HoldingsQ2 2026$455M-11%2.4%

Source: DLH Holdings 10-Q on SEC EDGAR · CIK 785557 · Services-Help Supply Services

13F: who owns DLHC and who is buying

Largest holders of DLHC (13F)Largest holders of DLHC (13F)Wynnefield Capital$19.3MMink Brook Asset Management LLC$14.8MMinerva Advisors LLC$5.9MVanguard Group$2.9MVanguard Capital Management LLC$2.3MDimensional Fund Advisors LP$1.3MRBF Capital, LLC$1.2MRenaissance Technologies LLC$955KPerritt Capital Management$928KGeode Capital Management, LLC$718K
Funds' net buying of DLHC by quarter (13F)Funds' net buying of DLHC by quarter (13F)−$2.3M2024-09−$3.8M2024-12−$665K2025-03$513K2025-06−$439K2025-09$2.5M2025-12−$1.1M2026-03$506K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DLHC

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：DLH Holdings（DLHC）财报

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