ICF International (ICFI) investor relations material

Business overview and evolution

• Provides technical, technology, and professional services with $1.9B revenue and 9,000 employees, publicly traded since 2006.

• Serves commercial, state/local, international, and US federal clients, with a diverse portfolio across geographies and services.

• Non-federal clients accounted for 57% of revenues in 2025, expected to rise to 60% in 2026, growing at 10% annually.

• Federal business split between technology modernization and programmatic services, with growth expected to return in 2027.

• Deep expertise in energy, environment, and health, evolving from advisory to full implementation services over decades.

Leadership and strategic focus

• New president role emphasizes connecting expertise across the firm and driving growth, especially in federal business.

• Focus on strategy, M&A, and increased investor engagement.

• Leadership aims to leverage cross-functional strengths to differentiate and deliver integrated solutions.

Federal business challenges and outlook

• 2025 saw a 25% revenue decline in federal business due to DOJ-related contract cancellations and agency disruptions.

• Navigated risks including customer turnover, procurement changes, and a 43-day government shutdown.

• Maintained profitability through proactive cost management and team resilience.

• Federal business expected to show consecutive quarter growth from Q1 to Q3 and year-over-year growth in Q4 2026.