ICF International, Inc. (ICFI): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde complexe du conseil stratégique et des services gouvernementaux, ICF International, Inc. (ICFI) apparaît comme une puissance de solutions innovantes, pontant de manière transparente des défis complexes dans plusieurs secteurs. Avec une toile de modèle commercial dynamique qui s'étend sur le gouvernement, les soins de santé et les domaines environnementaux, l'ICFI exploite son main-d'œuvre hautement spécialisée et des plates-formes technologiques de pointe pour fournir des services de conseil transformateurs qui redéfinissent la résolution de problèmes dans le paysage moderne. De la résilience climatique à la transformation numérique, cette organisation remarquable a élaboré une approche unique qui la positionne comme un partenaire critique pour les agences et les entreprises à la recherche de conseils stratégiques complets et axés sur les données.

ICF International, Inc. (ICFI) - Modèle commercial: partenariats clés

Agences gouvernementales fédérales américaines

ICF International maintient des partenariats critiques avec les principales agences fédérales:

Agence fédérale	Valeur du contrat (2023)	Zone de service primaire
Agence américaine de protection de l'environnement (EPA)	87,3 millions de dollars	Conseil climatique et environnemental
Département de la santé et des services sociaux	62,5 millions de dollars	Politique de santé et soutien au programme
Département de l'énergie	45,2 millions de dollars	Efficacité énergétique et durabilité

Entités gouvernementales et locales

ICF collabore avec de nombreux partenaires des États et des gouvernements locaux:

• Gouvernement de l'État de Californie - Programmes d'adaptation climatique
• Département de la santé de la ville de New York
• Agence de gestion des urgences de l'État du Texas

Clients du secteur commercial

Les partenariats commerciaux clés comprennent:

Industrie	Clients majeurs	Revenus contractuels (2023)
Soins de santé	Groupe UnitedHealth	43,7 millions de dollars
Énergie	Chevron Corporation	36,2 millions de dollars
Technologie	Microsoft Corporation	28,5 millions de dollars

Partenariats technologiques et consultants

Collaborations technologiques stratégiques:

• Salesforce pour les solutions de transformation numérique
• Services Web Amazon pour l'infrastructure cloud
• Deloitte pour les services de conseil intégrés

Institutions universitaires et de recherche

Réseaux de collaboration de recherche:

Institution	Focus de recherche	Valeur de collaboration
Université de Stanford	Recherche sur le changement climatique	2,3 millions de dollars par an
Université Johns Hopkins	Études de santé publique	1,7 million de dollars par an

ICF International, Inc. (ICFI) - Modèle d'entreprise: activités clés

Conseil du gouvernement et gestion des programmes

ICF International a généré 1,69 milliard de dollars de revenus totaux pour 2022, avec une partie importante dérivée des contrats de conseil gouvernementaux.

Catégories de contrats gouvernementaux	Valeur du contrat annuel
Conseil du gouvernement fédéral	892 millions de dollars
Services gouvernementaux et locaux	347 millions de dollars

Changement climatique et services de conseil environnemental

ICF fournit des services de conseil environnemental complets dans plusieurs secteurs.

• Planification de l'adaptation climatique pour 37 agences gouvernementales différentes
• Évaluations de l'impact environnemental pour 52 projets d'infrastructure majeurs
• Stratégies de réduction des émissions de carbone pour 24 clients d'entreprise

Soutien du programme de soins de santé et de santé publique

Le conseil en santé a représenté environ 413 millions de dollars de revenus pour 2022.

Segments de services de santé	Revenus annuels
Gestion du programme de santé publique	218 millions de dollars
Solutions de technologie de santé	195 millions de dollars

Transformation numérique et mise en œuvre de la technologie

Le segment des services technologiques a contribué 276 millions de dollars au total des revenus en 2022.

• Projets de modernisation numérique pour 43 agences gouvernementales
• Services de migration en cloud pour 28 clients d'entreprise
• Conseil de cybersécurité pour 19 départements fédéraux

Analyse stratégique et services de recherche

Les services de recherche et d'analyse ont généré 189 millions de dollars de revenus pour 2022.

Catégories de services de recherche	Valeur du contrat annuel
Étude de marché	87 millions de dollars
Analyse des politiques	102 millions de dollars

ICF International, Inc. (ICFI) - Modèle d'entreprise: Ressources clés

Travail professionnel hautement qualifié avec une expertise spécialisée

Depuis le quatrième trimestre 2023, ICF International a employé 7 200 professionnels dans plusieurs domaines de pratique. La répartition des effectifs comprend:

Catégorie professionnelle	Nombre d'employés
Consultants	4,320
Spécialistes techniques	1,800
Experts en recherche	680
Personnel de gestion	400

Technologie propriétaire et plateformes analytiques

Investissement technologique: 42,3 millions de dollars alloués au développement technologique en 2023.

• Plateformes avancées d'analyse de données
• Infrastructure de recherche basée sur le cloud
• Outils d'évaluation de la cybersécurité
• Algorithmes d'apprentissage automatique

Portefeuille de contrats gouvernementaux solides

Valeur du contrat du gouvernement en 2023: 1,2 milliard de dollars

Secteur du gouvernement	Valeur du contrat
Agences fédérales	782 millions de dollars
Gouvernements étatiques / locaux	318 millions de dollars
Contrats du gouvernement international	100 millions de dollars

Capital intellectuel et capacités de recherche

Investissement en recherche: 35,7 millions de dollars de dépenses de R&D pour 2023

• 23 centres de recherche actifs
• 87 projets de recherche en cours
• 42 demandes de brevet en instance

Infrastructure de gestion de projet robuste

Métriques de gestion de projet pour 2023:

Métrique de gestion de projet	Valeur
Projets actifs totaux	512
Durée moyenne du projet	8,3 mois
Taux de réussite du projet	94.6%

ICF International, Inc. (ICFI) - Modèle d'entreprise: propositions de valeur

Solutions complètes pour des défis gouvernementaux complexes

ICF International a généré 2,1 milliards de dollars de revenus totaux pour l'exercice 2022, les services gouvernementaux représentant 67% des revenus totaux. Les valeurs clés du contrat du gouvernement comprennent:

Type de contrat	Valeur annuelle
Contrats du gouvernement fédéral	1,4 milliard de dollars
Contrats du gouvernement étatique / local	410 millions de dollars

Services de conseil stratégique basés sur les données

Le segment des services de conseil stratégique a contribué à environ 620 millions de dollars de revenus pour 2022, en mettant l'accent sur:

• Analyse des politiques de santé
• Étude de marché de l'énergie
• Stratégies d'atténuation du changement climatique

Technologie avancée et expertise en transformation numérique

Le segment du conseil technologique a généré 480 millions de dollars en 2022, avec des investissements technologiques spécifiques:

Zone technologique	Investissement
Solutions d'intelligence artificielle	85 millions de dollars
Services de cybersécurité	72 millions de dollars

Conseil de durabilité et de résilience climatique

Les revenus de conseil en durabilité ont atteint 340 millions de dollars en 2022, avec des domaines de mise au point clés:

• Stratégies de réduction des émissions de carbone
• Conseil des énergies renouvelables
• Évaluations d'impact environnemental

Capacités de résolution de problèmes multisectorielles

Répartition des revenus multisectoriels de l'ICF International pour 2022:

Secteur	Contribution des revenus
Secteur public	67%
Secteur commercial	33%

ICF International, Inc. (ICFI) - Modèle d'entreprise: relations avec les clients

Relations à long terme basées sur les contrats

ICF International maintient 96,4% de ses revenus provenant des contrats gouvernementaux et commerciaux à long terme au T2 2023. La durée moyenne du contrat s'étend sur 3 à 5 ans avec les agences fédérales et les clients commerciaux.

Type de contrat	Pourcentage de revenus	Durée moyenne
Contrats du gouvernement fédéral	68.2%	4,3 ans
Contrats commerciaux	28.2%	3,7 ans

Équipes de gestion des comptes dédiés

ICF emploie 247 professionnels de la gestion des comptes spécialisés en 2024, avec un portefeuille client moyen de 3 à 4 clients majeurs par équipe.

• Taille d'équipe dédiée: 4-6 professionnels par compte majeur
• Taux moyen de rétention de la clientèle: 89,6%
• Score de satisfaction du client annuel: 4.7 / 5

Surveillance et rapport des performances continues

ICF met en œuvre des mécanismes de revue de performance trimestriels avec 98,3% de ses relations contractuelles, en utilisant des outils avancés d'analyse et de rapport.

Fréquence de surveillance	Métriques de performance suivies	Précision des rapports
Trimestriel	7-9 Indicateurs de performance clés	99.2%

Approche collaborative de résolution de problèmes

ICF investit 14,3 millions de dollars par an dans des plateformes d'innovation collaboratives et des initiatives conjointes de résolution de problèmes avec des clients clés.

• Ateliers collaboratifs menés: 126 en 2023
• Heures de fiançailles des clients: 3 742 heures
• Solutions d'innovation développées: 47 initiatives conjointes

Conseil sur mesure et support technique

ICF fournit un support spécialisé sur plusieurs lignes de service avec 532 experts techniques dédiés à 2024.

Ligne de service	Décompte des experts	Temps de réponse moyen
Conseil technologique	187	2,3 heures
Services environnementaux	146	3,1 heures
Solutions de soins de santé	199	2,7 heures

ICF International, Inc. (ICFI) - Modèle d'entreprise: canaux

Force de vente directe

En 2024, ICF International maintient une force de vente directe d'environ 120 à 150 représentants commerciaux professionnels ciblant le gouvernement et les secteurs commerciaux.

Catégorie de canal de vente	Nombre de représentants	Revenu annuel moyen par représentant
Ventes du secteur gouvernemental	85	1,2 million de dollars
Ventes du secteur commercial	65	$850,000

Plateformes d'appel d'offres du gouvernement

L'ICF participe activement à plusieurs plateformes d'approvisionnement fédérales, notamment:

• Sam.gov
• Contrats de planification de la GSA
• Contrats IDIQ (livraison indéfinie / quantité indéfinie)

Plate-forme d'appel d'offres	Valeur du contrat annuel	Taux de victoire
Sam.gov	350 millions de dollars	38%
Horaires de la GSA	275 millions de dollars	42%

Conférences professionnelles et événements de l'industrie

L'ICF s'engage dans environ 45 à 50 conférences de l'industrie par an sur plusieurs secteurs.

Type d'événement	Nombre d'événements annuels	Génération de leads estimée
Conférences gouvernementales	28	350 leads potentiels
Conférences commerciales	22	250 pistes potentielles

Marketing numérique et site Web d'entreprise

La stratégie de marketing numérique de l'ICF comprend un engagement complet en ligne:

• Trafic de site Web: 250 000 visiteurs mensuels
• LinkedIn adepte: 135 000
• Taux de conversion du plomb numérique: 4,2%

Systèmes de réseautage stratégique et de référence

ICF maintient des partenariats stratégiques avec environ 75 réseaux professionnels et cabinets de conseil.

Type de partenariat	Nombre de partenaires	Revenus de référence annuels
Partenaires technologiques	35	85 millions de dollars
Réseaux de consultation	40	62 millions de dollars

ICF International, Inc. (ICFI) - Modèle d'entreprise: segments de clientèle

Agences gouvernementales fédérales américaines

ICF International dessert plusieurs agences fédérales avec un portefeuille de contrats d'une valeur de 3,4 milliards de dollars en 2023. Les principaux clients fédéraux comprennent:

• Département de la santé et des services sociaux
• Agence de protection de l'environnement
• Département de l'énergie
• Centers for Disease Control and Prevention

Agence fédérale	Valeur du contrat	Type de service
HHS	892 millions de dollars	Conseil des soins de santé
EPA	456 millions de dollars	Services environnementaux
BICHE	678 millions de dollars	Gestion de l'énergie

Organisations gouvernementales et locales

ICF International soutient les gouvernements des États et locaux avec des contrats totalisant 1,2 milliard de dollars en 2023.

• Gouvernement de l'État de Californie
• Services municipaux de la ville de New York
• Agences d'État du Texas

Institutions de soins de santé et de santé publique

Le segment des soins de santé représente 1,5 milliard de dollars de revenus annuels pour ICF International.

Segment des soins de santé	Revenu
Conseil en santé publique	678 millions de dollars
Technologie de santé	456 millions de dollars
Soutien de la recherche médicale	366 millions de dollars

Clients du secteur de l'énergie et de l'environnement

Le conseil énergétique et environnemental génère 789 millions de dollars de revenus annuels.

• Sociétés d'énergie renouvelable
• Fournisseurs de services publics
• Organisations de recherche environnementale

Entreprises commerciales à la recherche de conseil stratégique

Le secteur commercial représente 612 millions de dollars en services de conseil pour 2023.

Secteur commercial	Revenu	Type de service
Entreprises technologiques	245 millions de dollars	Transformation numérique
Services financiers	187 millions de dollars	Planification stratégique
Fabrication	180 millions de dollars	Efficacité opérationnelle

ICF International, Inc. (ICFI) - Modèle d'entreprise: Structure des coûts

Personnel et dépenses de service professionnel

Pour l'exercice 2023, l'ICF International a déclaré un total de dépenses de personnel de 1 359,2 millions de dollars. La rupture des coûts du personnel comprend:

Catégorie de coûts	Montant (en millions)
Salaires et salaires	$1,085.36
Avantages sociaux	$273.84

Investissements de recherche et développement

L'ICF International a alloué 42,7 millions de dollars à la recherche et au développement en 2023, ce qui représente 3,1% des revenus totaux.

Maintenance des infrastructures technologiques

Les coûts de maintenance de technologie et d'infrastructure pour 2023 étaient d'environ 87,5 millions de dollars, ce qui comprend:

• Infrastructure de cloud computing
• Licence de logiciel
• Maintenance matérielle
• Systèmes de cybersécurité

Coûts de marketing et de développement commercial

Les dépenses de marketing et de développement commercial pour 2023 ont totalisé 65,3 millions de dollars, ventilées comme suit:

Catégorie de dépenses de marketing	Montant (en millions)
Marketing numérique	$22.4
Conférences et parrainages d'événements	$15.6
Ventes et développement commercial	$27.3

Frais de conformité et d'adhésion réglementaire

Les coûts liés à la conformité pour 2023 étaient de 53,9 millions de dollars, notamment:

• Frais de déclaration réglementaire
• Frais juridiques et de consultation
• Programmes de formation de la conformité
• Audit et systèmes de contrôle interne

Total des dépenses d'exploitation pour 2023: 1 608,6 millions de dollars

ICF International, Inc. (ICFI) - Modèle d'entreprise: Strots de revenus

Revenus contractuels du gouvernement

Pour l'exercice 2022, l'ICF International a déclaré des revenus totaux de contrats gouvernementaux de 1,84 milliard de dollars, ce qui représente environ 75% de leurs revenus totaux.

Segment du gouvernement	Revenus (2022)	Pourcentage du total des revenus
Contrats du gouvernement fédéral	1,38 milliard de dollars	56%
Contrats du gouvernement d'État et local	460 millions de dollars	19%

Frais de service de consultation

Les frais de service de consultation ont généré 412 millions de dollars de revenus pour 2022, représentant environ 17% du total des revenus de l'entreprise.

• Services de conseil en gestion
• Services de conseil stratégique
• Conseil de transformation numérique

Projets de mise en œuvre de la technologie

Les projets de mise en œuvre de la technologie ont contribué 215 millions de dollars aux revenus de l'ICF en 2022.

Segment technologique	Revenus (2022)
Solutions technologiques numériques	135 millions de dollars
Services de migration en cloud	80 millions de dollars

Services de recherche et d'analyse

Les services de recherche et d'analyse ont généré 168 millions de dollars de revenus pour 2022.

• Étude de marché
• Analyse des données
• Recherche politique

Incitations contractuelles basées sur la performance

Les incitations au contrat basées sur le rendement ont ajouté 92 millions de dollars à la source de revenus de l'ICF en 2022.

Type de contrat	Revenus incitatifs	Pourcentage du total des revenus
Contrats de performance fédérale	68 millions de dollars	2.8%
Contrats de performance de l'État	24 millions de dollars	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.