SEC filings · customer concentration · MMS

Maximus's major customers

United States Federal Government Agencies accounted for 55% of Maximus's revenue in FY 2025, about the same as 50% a year earlier.

3major customers now
77%of revenue from them
0listed suppliers depending on it
2020–2025years covered
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Major customers of Maximus

Customers that Maximus named in its annual report as 10% or more of revenue. A missing year means the customer was below that line or not named.

CustomerShare of revenueChange vs prior yearHistoryLatest filing
United States Federal Government Agencies55%from 50%FY 2020: 45%FY 2021: 42%FY 2022: 47%FY 2023: 48%FY 2024: 50%FY 2025: 55%6 yearsFY 2025 · filed 20 Nov 2025
New York State Government Agencies11%from 12%FY 2022: 8%FY 2023: 11%FY 2024: 12%FY 2025: 11%4 yearsFY 2025 · filed 20 Nov 2025
International Government Agencies11%from 12%FY 2020: 14%FY 2021: 16%FY 2022: 16%FY 2023: 14%FY 2024: 12%FY 2025: 11%6 yearsFY 2025 · filed 20 Nov 2025

Formerly disclosed

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Total United States State Government Agencies37%last FY 2023FY 2020: 39%FY 2021: 39%FY 2022: 35%FY 2023: 37%4 yearsFY 2023 · filed 16 Nov 2023

About this data

US-listed companies must disclose revenue from any single customer that reaches 10% of their total (ASC 280). ShadowGraph reads these disclosures from the XBRL data of every 10-K and 20-F we scan, keeps one value per fiscal year (restatements replace earlier values) and links each number to its filing. Companies that describe a customer only as "Customer A" are not listed by name. Figures are as reported; nothing here is investment advice.

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