ICF International, Inc. (ICFI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de la consultoría estratégica y los servicios gubernamentales, ICF International, Inc. (ICFI) surge como una potencia de soluciones innovadoras, que encierran los desafíos complejos sin problemas en múltiples sectores. Con un lienzo de modelo de negocio dinámico que abarca los dominios del gobierno, la salud y el medio ambiente, ICFI aprovecha su fuerza laboral altamente especializada y plataformas tecnológicas de vanguardia para ofrecer servicios de asesoramiento transformador que redefinen la resolución de problemas en el paisaje moderno. Desde la resiliencia climática hasta la transformación digital, esta notable organización ha creado un enfoque único que lo posiciona como un socio crítico para agencias y empresas que buscan una guía estratégica integral basada en datos.

ICF International, Inc. (ICFI) - Modelo de negocios: asociaciones clave

Agencias del gobierno federal de EE. UU.

ICF International mantiene asociaciones críticas con agencias federales clave:

Agencia federal	Valor del contrato (2023)	Área de servicio principal
Agencia de Protección Ambiental de EE. UU. (EPA)	$ 87.3 millones	Consultoría climática y ambiental
Departamento de Salud y Servicios Humanos	$ 62.5 millones	Política de atención médica y apoyo del programa
Departamento de Energía	$ 45.2 millones	Eficiencia energética y sostenibilidad

Entidades del gobierno estatal y local

ICF colabora con numerosos socios del gobierno estatal y local:

• Gobierno del Estado de California - Programas de adaptación climática
• Departamento de Salud de la Ciudad de Nueva York
• Agencia de Manejo de Emergencias del Estado de Texas

Clientes del sector comercial

Las asociaciones comerciales clave incluyen:

Industria	Clientes principales	Ingresos por contrato (2023)
Cuidado de la salud	Grupo UnitedHealth	$ 43.7 millones
Energía	Corporación Chevron	$ 36.2 millones
Tecnología	Microsoft Corporation	$ 28.5 millones

Tecnología y asociaciones de consultoría

Colaboraciones de tecnología estratégica:

• Salesforce para soluciones de transformación digital
• Servicios web de Amazon para infraestructura en la nube
• Deloitte para servicios de consultoría integrados

Instituciones académicas e de investigación

Redes de colaboración de investigación:

Institución	Enfoque de investigación	Valor de colaboración
Universidad de Stanford	Investigación del cambio climático	$ 2.3 millones anualmente
Universidad de Johns Hopkins	Estudios de salud pública	$ 1.7 millones anuales

ICF International, Inc. (ICFI) - Modelo de negocio: actividades clave

Consultoría gubernamental y gestión de programas

ICF International generó $ 1.69 mil millones en ingresos totales para 2022, con una porción significativa derivada de contratos de consultoría gubernamental.

Categorías de contratos gubernamentales	Valor anual del contrato
Consultoría del gobierno federal	$ 892 millones
Servicios del gobierno estatal y local	$ 347 millones

Cambio climático y servicios de asesoramiento ambiental

ICF proporciona servicios integrales de consultoría ambiental en múltiples sectores.

• Planificación de adaptación climática para 37 agencias gubernamentales diferentes
• Evaluaciones de impacto ambiental para 52 proyectos de infraestructura importantes
• Estrategias de reducción de emisiones de carbono para 24 clientes corporativos

Apoyo a los programas de salud y salud pública

Healthcare Consulting representó aproximadamente $ 413 millones en ingresos para 2022.

Segmentos de servicio de atención médica	Ingresos anuales
Gestión del programa de salud pública	$ 218 millones
Soluciones de tecnología de atención médica	$ 195 millones

Transformación digital e implementación de tecnología

El segmento de servicios tecnológicos contribuyó con $ 276 millones a los ingresos totales en 2022.

• Proyectos de modernización digital para 43 agencias gubernamentales
• Servicios de migración en la nube para 28 clientes empresariales
• Consultoría de ciberseguridad para 19 departamentos federales

Servicios de análisis e investigación estratégica

Los servicios de investigación y análisis generaron $ 189 millones en ingresos para 2022.

Categorías de servicios de investigación	Valor anual del contrato
Investigación de mercado	$ 87 millones
Análisis de políticas	$ 102 millones

ICF International, Inc. (ICFI) - Modelo de negocios: recursos clave

Fuerza laboral profesional altamente calificada con experiencia especializada

A partir del cuarto trimestre de 2023, ICF International empleó a 7.200 profesionales en múltiples áreas de práctica. El desglose de la fuerza laboral incluye:

Categoría profesional	Número de empleados
Profesionales de consultoría	4,320
Especialistas técnicos	1,800
Expertos en investigación	680
Personal de gestión	400

Tecnología patentada y plataformas analíticas

Inversión tecnológica: $ 42.3 millones asignados al desarrollo tecnológico en 2023.

• Plataformas de análisis de datos avanzados
• Infraestructura de investigación basada en la nube
• Herramientas de evaluación de ciberseguridad
• Algoritmos de aprendizaje automático

Portafolio de contrato gubernamental fuerte

Valor del contrato gubernamental en 2023: $ 1.2 mil millones

Sector gubernamental	Valor de contrato
Agencias federales	$ 782 millones
Gobiernos estatales/locales	$ 318 millones
Contratos del gobierno internacional	$ 100 millones

Capital intelectual y capacidades de investigación

Investigación de inversión: $ 35.7 millones en gastos de I + D para 2023

• 23 centros de investigación activos
• 87 proyectos de investigación en curso
• 42 solicitudes de patentes pendientes

Infraestructura de gestión de proyectos robusta

Métricas de gestión de proyectos para 2023:

Métrica de gestión de proyectos	Valor
Proyectos activos totales	512
Duración promedio del proyecto	8.3 meses
Tasa de éxito del proyecto	94.6%

ICF International, Inc. (ICFI) - Modelo de negocio: propuestas de valor

Soluciones integrales para desafíos gubernamentales complejos

ICF International generó $ 2.1 mil millones en ingresos totales para el año fiscal 2022, con servicios gubernamentales que representan el 67% de los ingresos totales. Los valores clave del contrato del gobierno incluyen:

Tipo de contrato	Valor anual
Contratos del gobierno federal	$ 1.4 mil millones
Contratos del gobierno estatal/local	$ 410 millones

Servicios de asesoramiento estratégico basado en datos

El segmento de servicios de asesoramiento estratégico contribuyó con aproximadamente $ 620 millones en ingresos para 2022, con enfoque en:

• Análisis de políticas de atención médica
• Investigación de mercado energético
• Estrategias de mitigación del cambio climático

Tecnología avanzada y experiencia en transformación digital

El segmento de consultoría de tecnología generó $ 480 millones en 2022, con inversiones tecnológicas específicas:

Área tecnológica	Inversión
Soluciones de inteligencia artificial	$ 85 millones
Servicios de ciberseguridad	$ 72 millones

Consultoría de sostenibilidad y resiliencia climática

Los ingresos por consultoría de sostenibilidad alcanzaron los $ 340 millones en 2022, con áreas de enfoque clave:

• Estrategias de reducción de emisiones de carbono
• Consultoría de energía renovable
• Evaluaciones de impacto ambiental

Capacidades de resolución de problemas multisectoriales

Desglose de ingresos múltiples de ICF International para 2022:

Sector	Contribución de ingresos
Sector público	67%
Sector comercial	33%

ICF International, Inc. (ICFI) - Modelo de negocios: relaciones con los clientes

Relaciones a largo plazo basadas en contratos

ICF International mantiene el 96.4% de sus ingresos de contratos gubernamentales y comerciales a largo plazo a partir del cuarto trimestre de 2023. La duración promedio del contrato abarca 3-5 años con agencias federales y clientes comerciales.

Tipo de contrato	Porcentaje de ingresos	Duración promedio
Contratos del gobierno federal	68.2%	4.3 años
Contratos comerciales	28.2%	3.7 años

Equipos de gestión de cuentas dedicados

ICF emplea a 247 profesionales especializados de gestión de cuentas a partir de 2024, con una cartera promedio de clientes de 3-4 clientes principales por equipo.

• Tamaño de equipo dedicado: 4-6 profesionales por cuenta principal
• Tasa promedio de retención del cliente: 89.6%
• Puntuación anual de satisfacción del cliente: 4.7/5

Monitoreo e informes de rendimiento continuo

ICF implementa mecanismos trimestrales de revisión del desempeño con el 98.3% de sus relaciones contractuales, utilizando análisis avanzados y herramientas de informes.

Frecuencia de monitoreo	Métricas de rendimiento rastreadas	Precisión de informes
Trimestral	7-9 indicadores clave de rendimiento	99.2%

Enfoque colaborativo de resolución de problemas

ICF invierte $ 14.3 millones anuales en plataformas de innovación colaborativa e iniciativas conjuntas de resolución de problemas con clientes clave.

• Talleres colaborativos realizados: 126 en 2023
• Horas de participación del cliente: 3,742 horas
• Soluciones de innovación desarrolladas: 47 iniciativas conjuntas

Consultoría personalizada y soporte técnico

ICF proporciona soporte especializado en múltiples líneas de servicio con 532 expertos técnicos dedicados a partir de 2024.

Línea de servicio	Recuento de expertos	Tiempo de respuesta promedio
Consultoría tecnológica	187	2.3 horas
Servicios ambientales	146	3.1 horas
Soluciones de atención médica	199	2.7 horas

ICF International, Inc. (ICFI) - Modelo de negocios: canales

Fuerza de ventas directa

A partir de 2024, ICF International mantiene una fuerza de ventas directas de aproximadamente 120-150 representantes de ventas profesionales dirigidas a sectores gubernamentales y comerciales.

Categoría de canal de ventas	Número de representantes	Ingresos anuales promedio por representante
Ventas del sector gubernamental	85	$ 1.2 millones
Venta del sector comercial	65	$850,000

Plataformas de licitación de contratos gubernamentales

ICF participa activamente en múltiples plataformas federales de adquisición que incluyen:

• Sam.gov
• Contratos de programación de GSA
• Contratos IDIQ (entrega indefinida/cantidad indefinida)

Plataforma de licitación	Valor anual del contrato	Tasa de ganancia
Sam.gov	$ 350 millones	38%
Horarios de GSA	$ 275 millones	42%

Conferencias profesionales y eventos de la industria

ICF se involucra en aproximadamente 45-50 conferencias de la industria anualmente en múltiples sectores.

Tipo de evento	Número de eventos anuales	Generación de leads estimada
Conferencias gubernamentales	28	350 cables potenciales
Conferencias comerciales	22	250 cables potenciales

Marketing digital y sitio web corporativo

La estrategia de marketing digital de ICF incluye un compromiso integral en línea:

• Tráfico del sitio web: 250,000 visitantes mensuales
• Seguidores de LinkedIn: 135,000
• Tasa de conversión de plomo digital: 4.2%

Sistemas de redes y referencias estratégicas

ICF mantiene asociaciones estratégicas con aproximadamente 75 redes profesionales y firmas de consultoría.

Tipo de asociación	Número de socios	Ingresos anuales de referencia
Socios tecnológicos	35	$ 85 millones
Redes de consultoría	40	$ 62 millones

ICF International, Inc. (ICFI) - Modelo de negocios: segmentos de clientes

Agencias del gobierno federal de EE. UU.

ICF International sirve a múltiples agencias federales con una cartera de contratos valorada en $ 3.4 mil millones a partir de 2023. Los clientes federales clave incluyen:

• Departamento de Salud y Servicios Humanos
• Agencia de Protección Ambiental
• Departamento de Energía
• Centros para el control y la prevención de enfermedades

Agencia federal	Valor de contrato	Tipo de servicio
HHS	$ 892 millones	Consultoría de atención médica
EPA	$ 456 millones	Servicios ambientales
GAMA	$ 678 millones	Gestión de la energía

Organizaciones gubernamentales estatales y locales

ICF International apoya a los gobiernos estatales y locales con contratos por un total de $ 1.2 mil millones en 2023.

• Gobierno del Estado de California
• Servicios municipales de la ciudad de Nueva York
• Agencias estatales de Texas

Instituciones de salud y salud pública

El segmento de salud representa $ 1.5 mil millones en ingresos anuales para ICF International.

Segmento de atención médica	Ganancia
Consultoría de salud pública	$ 678 millones
Tecnología de la salud	$ 456 millones
Apoyo de investigación médica	$ 366 millones

Clientes de energía y sector ambiental

La consultoría energética y ambiental genera $ 789 millones en ingresos anuales.

• Compañías de energía renovable
• Proveedores de servicios públicos
• Organizaciones de investigación ambiental

Empresas comerciales que buscan consultoría estratégica

El sector comercial representa $ 612 millones en servicios de consultoría para 2023.

Sector comercial	Ganancia	Tipo de servicio
Empresas tecnológicas	$ 245 millones	Transformación digital
Servicios financieros	$ 187 millones	Planificación estratégica
Fabricación	$ 180 millones	Eficiencia operativa

ICF International, Inc. (ICFI) - Modelo de negocio: estructura de costos

Personal y gastos de servicio profesional

Para el año fiscal 2023, ICF International reportó gastos totales de personal de $ 1,359.2 millones. El desglose de los costos de personal incluye:

Categoría de costos	Cantidad (en millones)
Salarios y salarios	$1,085.36
Beneficios para empleados	$273.84

Inversiones de investigación y desarrollo

ICF International asignó $ 42.7 millones para la investigación y el desarrollo en 2023, lo que representa el 3.1% de los ingresos totales.

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de tecnología e infraestructura para 2023 fueron de aproximadamente $ 87.5 millones, lo que incluye:

• Infraestructura de computación en la nube
• Licencia de software
• Mantenimiento de hardware
• Sistemas de ciberseguridad

Costos de marketing y desarrollo empresarial

Los gastos de marketing y desarrollo comercial para 2023 totalizaron $ 65.3 millones, desglosados ​​de la siguiente manera:

Categoría de gastos de marketing	Cantidad (en millones)
Marketing digital	$22.4
Patrocinios de conferencia y eventos	$15.6
Desarrollo de ventas y negocios	$27.3

Gastos de cumplimiento y adherencia regulatoria

Los costos relacionados con el cumplimiento para 2023 fueron de $ 53.9 millones, lo que incluyó:

• Gastos de informes regulatorios
• Tarifas legales y de consultoría
• Programas de capacitación de cumplimiento
• Sistemas de auditoría y control interno

Gastos operativos totales para 2023: $ 1,608.6 millones

ICF International, Inc. (ICFI) - Modelo de negocios: flujos de ingresos

Ingresos por contrato del gobierno

Para el año fiscal 2022, ICF International reportó ingresos por contratos gubernamentales totales de $ 1.84 mil millones, lo que representa aproximadamente el 75% de sus ingresos totales.

Segmento gubernamental	Ingresos (2022)	Porcentaje de ingresos totales
Contratos del gobierno federal	$ 1.38 mil millones	56%
Contratos del gobierno estatal y local	$ 460 millones	19%

Tarifas de servicio de consultoría

Las tarifas de servicio de consultoría generaron $ 412 millones en ingresos para 2022, representando aproximadamente el 17% de los ingresos totales de la compañía.

• Servicios de consultoría de gestión
• Servicios de asesoramiento estratégico
• Consultoría de transformación digital

Proyectos de implementación de tecnología

Los proyectos de implementación de tecnología contribuyeron con $ 215 millones a los ingresos de ICF en 2022.

Segmento tecnológico	Ingresos (2022)
Soluciones de tecnología digital	$ 135 millones
Servicios de migración en la nube	$ 80 millones

Servicios de investigación y análisis

Los servicios de investigación y análisis generaron $ 168 millones en ingresos para 2022.

• Investigación de mercado
• Análisis de datos
• Investigación de políticas

Incentivos por contrato basados ​​en el desempeño

Los incentivos por contrato basados ​​en el rendimiento agregaron $ 92 millones al flujo de ingresos de ICF en 2022.

Tipo de contrato	Ingresos por incentivos	Porcentaje de ingresos totales
Contratos de rendimiento federal	$ 68 millones	2.8%
Contratos de rendimiento estatales	$ 24 millones	1%

ICF International, Inc. (ICFI) - Canvas Business Model: Value Propositions

You're looking at the core value ICF International, Inc. (ICFI) delivers to its clients, which is a blend of deep consulting knowledge and applied technology. As of late 2025, the firm is leaning heavily on its commercial energy work to offset federal headwinds, while securing large, multi-year tech modernization and international policy contracts.

Integrated advisory and technology solutions for complex problems

ICF International, Inc. combines its roughly 9,000 employees with deep domain expertise to tackle tough issues, integrating business analysts, policy specialists, digital strategists, and data scientists. This multidisciplinary approach is evidenced by recent large contract wins that span technology and advisory services.

For instance, the firm is executing on a potential five-year, $1.4 billion ceiling value blanket purchase agreement (BPA) with the U.S. Department of Defense (DOD) Defense Human Resources Agency (DHRA) to modernize its IT enterprise, where they compete across 25 task areas. This work explicitly involves applying advanced technologies like AI, generative AI, and machine learning. Furthermore, the total value of contracts awarded in the second quarter of 2025 reached $621 million, resulting in a book-to-bill ratio of 1.30, showing strong future business capture.

Here's a quick look at how the business mix is shifting, which underpins the value proposition of diversification:

Client Segment	Q1 2025 Revenue Share	Q2 2025 Revenue Share	Q1 2025 YoY Growth
Federal Government	~38.4%	~43% (Implied)	-12.6%
Commercial, State/Local, International Gov. (Aggregate)	~51%	57%	12.6% (Q1) / 13.8% (Q2)

The aggregate of non-federal work is expected to grow at least 15% for the full year 2025 and account for over 55% of total 2025 revenue.

Industry-leading expertise in energy efficiency and grid resilience

ICF International, Inc. is definitely a top player in the energy sector, leveraging three decades of experience to help utilities manage grid strain and improve efficiency. This expertise is a major value driver, especially as electricity demand rises from data centers and distributed energy resources.

The commercial energy segment is showing robust growth, with revenue increasing 21.0% year-over-year in the first quarter of 2025 and surging 27.4% in the second quarter of 2025. Energy markets revenue, which includes these efficiency programs, made up 87.3% of commercial revenue in Q1 2025 and 88.3% in Q2 2025.

Specific contract wins highlight this focus:

• Awarded a new, multi-year $40 million contract in Q2 2025 for residential energy programs across six Southern California counties.
• Leverages proprietary platforms like Sightline®, described as one of the utility industry's most trusted customer program analytics platforms.
• Delivers end-to-end offerings across the energy value chain for top utilities, developers, federal agencies, and state energy offices nationwide.
• Secured recompete contracts and modifications valued at over $35 million in the fourth quarter of 2024 for demand-side management energy programs.

The firm is also supporting the U.S. Department of Energy's Grid Deployment Office (GDO) through a subcontract with a term of over five years, providing advisory and implementation services to accelerate electric infrastructure development.

Digital modernization and AI-enabled solutions for federal agencies

For federal clients, the value proposition centers on modernizing legacy systems using cloud, data analysis, and AI capabilities to reduce time-to-value. While federal revenue saw a 12.6% decline in Q1 2025 due to spending priority shifts, the company continues to win significant modernization work.

Key examples of this technology-enabled service delivery include:

• Competing for task orders under a DOD BPA with a total ceiling value of $1.4 billion over five years, focusing on cloud-based solutions and AI integration.
• Continuing support for the Centers for Medicare & Medicaid Services (CMS) through a 12-month option year extension valued at $35 million in Q2 2024 to modernize systems like iQIES using open-source and cloud technology.
• Previously secured two contract extensions from CMS in Q3 2023 with a combined value of $50 million for cloud migration and digital modernization.

ICF International, Inc. has managed and supported numerous cloud projects across U.S. federal agencies, including Health and Human Services, Homeland Security, Energy, Transportation, and Agriculture.

End-to-end disaster management and recovery program implementation

The company's expertise covers natural disaster mitigation and remediation services, which is a component of the segment that historically generated approximately 46% of ICF's revenues (based on trailing 12 months through Q3 2024). This value is delivered through end-to-end program implementation, not just advisory work.

The firm's international government work, which often includes disaster response and recovery elements, is growing. International government revenue was $27.1 million in Q1 2025, marking a 7.2% increase from the prior year, driven by initial ramp-up of recent program wins.

Policy analysis and strategic communications for public impact

ICF International, Inc. provides industry-leading services in policy analysis, communications, and research and evaluation, often for government clients. This value stream is clearly demonstrated by recent international contract awards.

The company secured two significant European wins with a combined ceiling value of over $210 million, one with the European Commission and one with the U.K. Government, both having a four-year period of performance. These contracts specifically require leveraging services in policy analysis and communications, alongside technology and digital engagement.

The overall financial performance in Q2 2025 showed that revenues from commercial, state and local, and international government clients increased 13.8% year-over-year, accounting for 57% of total Q2 2025 revenue.

Finance: draft 13-week cash view by Friday.

ICF International, Inc. (ICFI) - Canvas Business Model: Customer Relationships

You're looking at how ICF International, Inc. keeps its government and commercial clients locked in. It's a relationship game built on deep domain expertise and continuous service delivery, especially with federal clients.

Dedicated, long-term relationships with government agencies.

ICF International, Inc. maintains deep ties across the public sector. They partner with nearly every U.S. federal agency, state energy office, and energy non-governmental organization. This reliance on public sector work means relationships are critical for contract continuity.

For the third quarter of 2025, revenue from government clients totaled $308.8 million. This revenue stream is segmented across federal, state/local, and international bodies, showing a diversified but still government-heavy focus.

Government Client Segment (Q3 2025)	Revenue Amount	Percentage of Total Revenue (Q3 2025)
U.S. Federal Government	$198.0 million	Approximately 42.6% (Calculated: $198.0M / $465M Revenue)
U.S. State and Local Government	$81.7 million	17.6%
International Government	$29.0 million	6.2%

The federal segment saw a year-over-year revenue decline of 29.8% compared to Q3 2024, hitting $198.0 million in Q3 2025. Still, the total backlog at the end of Q3 2025 stood at $3.5 billion, with $1.9 billion being funded backlog, or about 52% of the total, which points to future work visibility.

High-touch, expert-driven consulting model.

The model relies on a large, multidisciplinary team to deliver complex solutions. ICF International, Inc. employs approximately 9,000 employees who blend skills from various fields. For instance, their federal business mix is described as roughly an even split between technology modernization and programmatic work.

The firm uses its deep domain expertise to secure and execute work. Their largest federal customer is the Health and Human Services Department (HHS). The company aims to maintain similar adjusted EBITDA margins to 2024, achieving an Adjusted EBITDA margin of 11.4% in Q3 2025.

• Business analysts work with digital strategists.
• Policy specialists partner with data scientists.
• The company focuses on human-centered solutions.

Continuous program management and implementation services.

ICF International, Inc. secures relationships through ongoing service delivery, not just one-off projects. They deliver hundreds of active demand-side management programs across North America, often funded by ratepayers, as public service commissions in over 30 states recognize the benefits. This suggests a recurring revenue component tied to program execution.

The total value of contracts awarded in the third quarter of 2025 was $714 million, resulting in a quarterly book-to-bill ratio of 1.53. This high ratio indicates strong future revenue potential being converted into contracts.

Strategic client engagement via thought leadership and research.

Client engagement is driven by positioning ICF International, Inc. as a forward-thinking expert. The company actively publishes research, insights, and success stories developed by its experts. They are focused on trending topics like AI innovation, Grid modernization, and Extreme weather resilience.

The ICF Thought Leadership Institute is now serving as ICF's futurist function, dedicated to equipping clients and the community with strategic foresight. This effort is highlighted by the upcoming launch of the ICF Annual Futures Report in January 2026. They use data and research to inform new strategies, such as leveraging AI for data enrichment in utility programs.

• Trending topics include AI innovation and Grid modernization.
• The firm uses consumer and brand research methodologies.
• They provide advisory work in areas like flexible load management.

ICF International, Inc. (ICFI) - Canvas Business Model: Channels

You're looking at how ICF International, Inc. gets its services and solutions into the hands of its clients, which is a mix of traditional government contracting and modern commercial technology delivery. It's not a single path; it's a diversified approach that helps them manage the volatility you see in federal spending cycles.

Direct sales and bidding process for government contracts (RFPs)

The government channel remains central, relying heavily on responding to Requests for Proposals (RFPs) and recompeting existing work. This is a high-volume, high-stakes process. For instance, in the third quarter of 2025, the total value of contracts awarded was a strong $714 million, leading to a quarterly book-to-bill ratio of 1.53, showing they are winning more than they are delivering in that period. You can see the direct impact of this channel in the Q3 2025 revenue, where U.S. federal government revenue was $198.0 million. Still, this channel faces headwinds; federal government revenue in Q1 2025 was down 12.6% year-over-year, partly due to slower new RFP activity. The sales process is evidenced by specific wins, like a competitive single-award BPA with the National Science Foundation (NSF) TIP, where ICF beat out 39 other bidders for a total contract value of $95,000,000.00. Also, recompete contracts are key, such as a $90.7 million award from a federal health agency for digital communications and outreach services.

Here's a look at some recent government contract activity:

Contract Type/Client	Value (USD)	Award Date/Period	Focus Area
NSF TIP BPA (Single Award)	$95,000,000.00	Q3 2025	Science, Engineering, Analytical, and Technical Support
Federal Health Agency (Recompete)	$90.7 million	Q3 2025	Digital Communications, Knowledge Management
Federal Dept. (New Contract)	$21.2 million	Q3 2025	Low-code applications and IT services
European Commission/U.K. Gov (Combined)	Over $210 million (Ceiling)	Q4 2024/Q1 2025	Policy research, technology, digital engagement

Direct engagement with utility and commercial energy clients

The commercial side, particularly energy markets, is a significant growth driver, often involving direct, long-term relationships with utility clients. This engagement is less about RFPs and more about advisory and program management. Commercial revenue in Q3 2025 hit $156.6 million, representing 33.7% of total revenue, which is up from 25.1% in Q3 2024. The engine here is energy markets revenue, which increased 24.3% year-over-year in Q3 2025 and made up 89.0% of that commercial slice. You see this in the focus on energy efficiency programs, flexible load management, and grid resilience. For the full year 2025, the firm forecasted that revenues from commercial, state & local, and international government clients combined would grow at least 15% in aggregate.

Digital delivery of proprietary software and AI solutions

ICF International, Inc. channels technology directly, moving beyond pure consulting. This is where their proprietary software and advanced analytics come into play, often bundled with their implementation services. For example, a Q3 2025 recompete contract worth $23.8 million involved operating and enhancing a data management system that specifically integrates advanced analytics and forward-leaning technology. Also, the mention of providing low-code applications in a new federal contract shows a direct software/platform delivery component to their channel strategy. Honestly, the line between their consulting services and their technology delivery is getting blurrier, which is smart.

• The company has approximately 9,000 dedicated professionals globally.
• Their Q3 2025 Adjusted EBITDA margin was 11.4% of total revenues.
• Total backlog stood at $3.5 billion at the end of Q3 2025.
• Funded backlog was $1.9 billion, or about 52% of the total backlog.

Global network of offices and field staff for program implementation

Implementation requires a physical presence, and ICF maintains a wide footprint to execute these large-scale programs. They operate across the Americas, Africa, Asia-Pacific, and Europe. The firm has 90+ offices worldwide, staffed by roughly 9,000 professionals. Domestically, this includes offices in 24 states, plus locations in Puerto Rico and Canada. Internationally, they use permanent offices in key hubs like London and Brussels to support major government work, which contributed $27.1 million in revenue in Q1 2025, showing growth even in that segment. This physical network is the backbone for delivering services across diverse sectors like disaster management and infrastructure.

ICF International, Inc. (ICFI) - Canvas Business Model: Customer Segments

You're looking at the core revenue drivers for ICF International, Inc. as of late 2025, which clearly shows a strategic pivot away from heavy federal reliance toward commercial and state/local work. The third quarter of 2025 provides a sharp snapshot of this shift.

The U.S. Federal Government agencies segment remains a significant customer base, but it experienced a notable contraction in the third quarter of 2025. This decline is attributed to factors like contract funding curtailments and a slower pace of new Request for Proposals (RFPs). Honestly, this segment's performance is definitely weighing on the overall top line.

Here is the revenue breakdown for the third quarter ended September 30, 2025, which helps map out where ICF International, Inc. is generating its business:

Customer Segment	Q3 2025 Revenue (Millions USD)	% of Total Q3 Revenue	Year-over-Year Growth
U.S. Federal Government	$198.0	42.5%	Down 29.8%
U.S. State and Local Government	$81.7	17.6%	Up 3.8%
Commercial Energy Clients	$156.6 (Total Commercial)	33.7%	Up 20.9% (Total Commercial)
International Government	$29.0	6.2%	Up 8.2%

The Commercial Energy clients segment is showing robust growth, which is the engine driving the mix shift. This business, primarily serving large utilities, saw its total commercial revenue increase by 20.9% year-over-year, reaching $156.6 million in Q3 2025. The energy markets revenue component, which includes ICF International, Inc.'s industry-leading energy efficiency programs, specifically increased by 24.3% year-over-year.

The non-federal business-combining Commercial, State & Local, and International Government-is clearly the growth story. Revenues from these clients increased by 13.8% in the quarter and collectively accounted for 57% of total Q3 2025 revenues. This is an 11 percentage point increase in its share over the last 12 months, which is a substantial strategic move.

You can see the concentration within the commercial sector:

• Commercial Energy revenue growth was a strong 24.3% year-over-year.
• Energy markets revenue represented 89.0% of the total commercial revenue in Q3 2025.
• This implies that Commercial clients in health, transportation, and other sectors accounted for approximately $17.2 million (the remaining 11.0% of the $156.6 million commercial revenue).

The U.S. State and Local Government entities delivered $81.7 million in revenue for the quarter, representing 17.6% of the total, marking a modest 3.8% increase from the prior year's third quarter. International Government clients, while smaller at $29.0 million, are a growing segment, up 8.2% year-over-year.

Finance: draft 13-week cash view by Friday.

ICF International, Inc. (ICFI) - Canvas Business Model: Cost Structure

You're looking at the cost side of ICF International, Inc. (ICFI) as of late 2025, based on their latest reported financials from the third quarter ending September 30, 2025. This structure clearly shows where the money goes to deliver their consulting and technology solutions.

The largest cost component is definitely the people delivering the work. While we don't have the exact salary and benefits line item, we can back into the direct labor cost base using the reported gross margin and subcontractor spend. This direct labor, which covers the personnel costs for the large consulting workforce, is substantial.

Here's the quick math: Total Q3 2025 Revenue was $465.4 million. With a Gross Margin of 37.6%, the Cost of Sales was approximately $290.4 million ($465.4M 62.4%). Since Subcontractor and other direct costs were 24.2% of revenue (or about $112.63 million), the remaining direct cost, which is primarily ICF International, Inc. direct labor (personnel), is estimated around $177.77 million for the quarter.

The remaining costs fall under corporate overhead and other non-direct expenses. The total Operating Expenses for the quarter ending September 2025 were reported as $136.43 million. This figure encompasses General and administrative expenses (G&A) for corporate overhead, plus any unallocated technology and acquisition-related charges that aren't capitalized or amortized.

We have a clear number for the non-cash expense related to past deals:

• Amortization of intangible assets acquired from business combinations for Q3 2025 totaled $9.2 million.

For the specific acquisition-related expenses (cash outlays for deals/integration), the Q1 2025 figure was $259 thousand. To be fair, the Q3 report focused more on the ongoing amortization rather than new, discrete acquisition expenses.

Technology development and maintenance costs are embedded within the Operating Expenses, but the company also reports Capital Expenditures (CapEx) for fixed assets. CapEx for Q3 2025 was $5.5 million, and the full-year 2025 guidance for CapEx was lowered to a range of $23 million to $25 million.

This table summarizes the key cost structure components we can quantify from the Q3 2025 filings:

Cost Component Category	Financial Metric / Percentage	Q3 2025 Amount (USD Millions)
Total Revenue	Base Figure	$465.4
Subcontractor and other direct costs	Percentage of Revenue	24.2%
Subcontractor and other direct costs	Calculated Amount	~$112.63
Personnel Costs (Direct Labor Estimate)	Implied Amount from Gross Margin	~$177.77
Total Operating Expenses	Reported Total	$136.43
General and administrative expenses (G&A)	Largest component of Operating Expenses	Not Separately Itemized
Amortization of intangible assets (Acquisition-related)	Non-Cash Expense	$9.2
Acquisition and divestiture-related expenses	Q1 2025 Cash Expense	$0.259 (or $259 thousand)

The focus on cost management is evident, as the Adjusted EBITDA margin expanded 10 basis points to 11.4%, driven by the favorable mix toward higher-margin commercial energy work and cost control initiatives. This suggests that while personnel costs are high, the company is actively managing the direct cost of delivery, especially by keeping subcontractor pass-throughs lower.

Finance: draft 13-week cash view by Friday.

ICF International, Inc. (ICFI) - Canvas Business Model: Revenue Streams

You're looking at how ICF International, Inc. (ICFI) brings in the money, which is really about the mix of its consulting services and the performance of its key growth areas. The total revenue for the trailing twelve months (TTM) as of late 2025 is approximately $1.92 Billion USD, though some reports place the TTM figure slightly higher at $1.93B.

The core of the revenue generation still relies heavily on the structure of its contracts. For the third quarter of 2025, the bulk of the work came through two main mechanisms.

• Fixed price and time and materials contracts accounted for 93% of third quarter 2025 revenues.
• Cost reimbursement contracts declined to 7% of third quarter 2025 revenues.

This shift shows a clear move toward more defined, less open-ended work structures compared to the prior year.

The major growth story driving the revenue mix is definitely the commercial sector, particularly around energy programs. Commercial revenue in the third quarter of 2025 hit $156.6 million, marking a 20.9% jump year-over-year. This segment now represents 33.7% of total revenue, a significant increase from 25.1% in the third quarter of 2024. Within that, energy markets revenue, which is where the big energy efficiency programs sit, grew 24.3% year-over-year in Q3 2025 and made up 89.0% of all commercial revenue.

Here's a quick look at the key financial metrics guiding the 2025 outlook:

Metric	Value
Full-Year 2025 TTM Revenue (Approximate)	$1.92 Billion USD
2025 Operating Cash Flow Guidance Range (Revised)	$125 million to $150 million
Most Recent Quarterly Cash Dividend Per Share	$0.14 per share
Annualized Dividend Per Share	$0.56 per share

Management's confidence in cash generation, despite federal headwinds, is underscored by the dividend policy. ICF International pays a quarterly cash dividend of $0.14 per share to shareholders. Honestly, you see that stability reflected in the revised operating cash flow guidance for the full year 2025, which is set in the range of $125 million to $150 million, adjusted due to potential collection timing issues.

Finance: draft 13-week cash view by Friday.