Cubic Corporation

What Cubic Corporation does

Cubic Corporation is a technology provider operating two core business segments: Transportation and Defense. The Transportation segment delivers fare collection solutions, intelligent transportation systems, and urban mobility platforms to transit agencies and municipal governments globally. Key products include the FEnX fare gate (which uses generative AI and computer vision to detect fare evasion), the Umo Mobility SaaS platform, the Urban Mobility Back Office, Synchro traffic simulation software, and GRIDSMART video detection systems. Cubic's transportation technology powers nearly 90% of host cities for the 2026 FIFA World Cup and serves 40 million annual riders on the Twin Cities Metro Transit deployment.

The Defense segment delivers mission-critical solutions to U.S. and allied defense and intelligence agencies, including Live, Virtual, and Constructive (LVC) training systems (where Cubic is described as the world's leading provider of advanced air combat training), secure communications via the Cubic Vector multi-orbit hybrid SATCOM antenna, digital intelligence through the TAKTICS GEOINT platform, and edge computing/networking hardware via the DTECH Mission Solutions subsidiary. The company holds 'Awardable' status in the Department of War's CDAO Tradewinds Solutions Marketplace and participates in DARPA's Air Combat Evolution (ACE) program.

Cubic generates revenue through long-term government contracts (ID/IQ vehicles up to $921M), enterprise transit system sales, software subscriptions (Umo Mobility SaaS), maintenance services, and specialized hardware sales. Major customers include the U.S. Army, Twin Cities Metro Transit, Tasmanian Government, SEPTA, and CapMetro Austin. The company employs 5,001-10,000 people across operations in the U.S., Canada, Germany, Australia, and India, and is owned by private equity firms Elliott Investment Management and Veritas Capital Fund Management following its delisting from the NYSE.

Name

Cubic Corporation

Legal name

Cubic Corporation

Website

https://cubic.com

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Cubic Corporation provides integrated technology solutions for two segments: mass transit fare collection and intelligent transportation systems for transit agencies, and defense training simulation, secure SATCOM communications, and digital intelligence for military customers. The company serves government clients globally under private equity ownership by Elliott and Veritas Capital.

Ownership category

akta.pro rank

Product category

Integrated Defense and Transportation Technology Systems

NAICS

Other Support Activities for Transportation (4889), Computer Terminal and Other Computer Peripheral Equipment Manufacturing (334118)

SIC

Transportation Services (4700), Miscellaneous Transportation Equipment (3790)

akta.pro primary industry

Centralized Traffic Management Platforms (ATMS/TMC Software) (TLAJACAB)

akta.pro secondary industry

Traffic Control Center (TCC/TMC) Operations Tools (Video Wall, Operator Consoles, SOP Workflow) (TLAJACAM)

Keywords

• Fare collection systems
• Defense training simulation
• Intelligent transportation solutions
• Secure satellite communications
• Transit payment platforms

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transportation Systems and Services: Cubic Transportation Systems provides fare collection solutions, intelligent transportation systems, and related software/services to transit agencies. Revenue is generated through system sales, software subscriptions (Umo Mobility Platform SaaS), maintenance, and professional services. Cloud-based deployments account for approximately 62% of the parking management market and are growing across transit deployments.
2. Defense Training, Simulation, and Mission Solutions: Cubic Defense generates revenue from training and simulation systems (LVC), secure communications, edge computing, and digital intelligence solutions sold to defense, intelligence, and military customers. Revenue includes hardware systems, software licenses, and long-term service contracts. Major contracts include U.S. Army simulation/training ID/IQ (up to $378M) and TESS (up to $921M).
3. Secure Communications and SATCOM: Sale of specialized hardware and software for satellite communications, tactical networking, and secure communications used by military customers. Products include the Cubic Vector multi-orbit SATCOM antenna.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Cubic Corporation designs, manufactures, and integrates technology systems across two business segments: Cubic Transportation Systems provides fare collection hardware and software (FEnX fare gates, Umo Mobility SaaS platform, Urban Mobility Back Office, GRIDSMART video detection, Synchro traffic simulation) to transit agencies and municipalities. Cubic Defense provides Live Virtual Constructive (LVC) training and simulation, secure multi-orbit SATCOM communications, digital intelligence (TAKTICS GEOINT), and tactical edge computing/networking hardware (DTECH) to defense, intelligence, and military customers.

Product overview

Cubic Corporation operates two main business segments: Transportation and Defense. The Transportation segment provides fare collection solutions (including FEnX fare gates, Umo Mobility Platform SaaS, Urban Mobility Back Office, and GRIDSMART intersection management) and intelligent transportation solutions (including Synchro traffic planning software, Signal Performance Measures, and Real-Time Passenger Information). The Defense segment provides mission-critical solutions including Air Combat Training and Ground Training (LVC simulation), Secure Communications (Cubic Vector SATCOM antenna), Digital Intelligence (TAKTICS), Edge Compute & Networking (DTECH), Vocality RoIP, and GATR satellite communications. The portfolio follows a platform-plus-modules architecture where core platforms (like Umo Mobility and Urban Mobility Back Office) serve as the foundation with add-on modules (mobile ticketing, adaptive signaling, performance analytics) extending functionality.

Differentiator

Problem solved

Functional benefit

Brands

• Umo Mobility Platform: SaaS-based urban mobility and fare collection platform enabling contactless payments and transit management
• FEnX Fare Gate
• Trafficware / Cubic ITS
• TAKTICS
• Cubic Vector

Products and services

• FEnX Fare Gate Next-generation fare gate hardware using generative AI and computer vision to detect fare evasion, advance revenue protection, and improve accessibility and safety at transit stations. Targeted at transit agencies seeking to reduce fare evasion and modernize fare collection.
• Umo Mobility Platform SaaS-based urban mobility platform enabling transit agencies to manage open-loop contactless fare payment (bank cards, Apple Pay, Google Pay), mobile ticketing, and rider account management from a unified cloud-based system. Deployed at Twin Cities Metro Transit serving 40 million annual riders.
• Urban Mobility Back Office (Enterprise) Enterprise-grade back-office system for managing transit fare collection operations, passenger accounts, and revenue management across large-scale multi-agency transportation networks.
• GRIDSMART Video Detection System Video-based intersection detection system using camera technology for vehicle detection, zone monitoring, and traffic data collection at intersections. Includes a Processor API for retrieving camera images, count data, and real-time traffic metrics.
• Synchro Studio Traffic Simulation Software Traffic planning and simulation software for analyzing and optimizing traffic signal timing, intersection design, and transportation network performance across urban road networks.
• Air Combat Training Systems (LVC) Live, Virtual, and Constructive (LVC) training solutions for air combat training, providing advanced simulation and integrated real-world training systems for military aviation forces. Cubic Defense is described as the world's leading provider of advanced air combat training.
• Ground Training Systems (LVC) Live, Virtual, and Constructive (LVC) ground training solutions for military forces, enabling realistic combat simulation, instrumentation, and tactical training scenarios across live, virtual, and constructive training domains.
• Cubic Vector Multi-Orbit Hybrid SATCOM Antenna Multi-band, multi-beam, multi-orbit satellite communications antenna providing resilient, assured connectivity across LEO, MEO, and GEO satellite constellations for military and strategic applications in contested environments.
• TAKTICS Digital Intelligence Platform Digital intelligence (GEOINT) platform that enhances rapid geospatial intelligence dissemination at the tactical edge, serving military units worldwide. Achieved 'Awardable' status in the CDAO Tradewinds Solutions Marketplace.
• DTECH Edge Compute and Networking Solutions Tactical edge computing and networking hardware providing data processing and communications capabilities at the operational edge for defense applications. Used by the U.S. Army and explored for Palantir AI integration.
• Vocality Radio over IP (RoIP) Radio over IP (RoIP) communication solutions enabling interoperability between disparate radio systems and networks for defense and public safety communications.
• GATR Satellite and Troposcatter Communications Portable, deployable satellite communications and troposcatter systems providing connectivity in remote, austere, or challenging environments for military and tactical operations.

Quantifiable outcome

• 50% reduction in annual SAP maintenance fees through Rimini Street partnership
• +3 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core and major.

• Rimini StreetcoreImplementation/ SI/ Consulting Partner · 18 February 2026Cubic partnered with Rimini Street for third-party SAP support, forgoing an upgrade to S/4HANA while maintaining its SAP ECC system. The partnership delivered 50% savings on annual SAP maintenance fees, freeing up resources for AI technologies, touchless invoice processing, and reduced manual accounts payable intervention. Rimini Street provides 24/7 SAP expert support with a dedicated primary support engineer.
• Palantir TechnologiescoreStrategic or Co-development Partner · 6 December 2025Cubic Defense and its DTECH Mission Solutions business unit entered a strategic partnership with Palantir Technologies to drive large-scale digital transformation across Cubic's supply chain, procurement, manufacturing, and transportation operations using Palantir's Artificial Intelligence Platform. The collaboration aims to reduce lead times, accelerate time-to-market, unlock new revenue streams, and improve margins. The companies are exploring integrating Palantir software into DTECH's tactical edge compute and networking hardware for shared U.S. Army customers.
• DARPA (Defense Advanced Research Projects Agency)majorStrategic or Co-development PartnerCubic Defense participates in DARPA's Air Combat Evolution (ACE) program as part of a distinguished team of academia, government, and private industry partners collaborating on advanced air combat technology development.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Conduent Incorporated: Conduent's Public Sector business directly competes with Cubic Transportation Systems in transit fare collection and intelligent transportation solutions for transit agencies and municipalities across North America.
• INIT Innovations in Transportation Inc. INIT provides integrated ITS, fare collection, and fleet management systems to transit agencies globally, directly competing with Cubic's fare collection and Umo Mobility platforms.
• Genfare: Genfare is a long-standing direct competitor in transit fare collection equipment, offering fareboxes, validators, and back-office systems to U.S. transit agencies served by Cubic.

Emerging players

• Masabi: Masabi is a software-focused fare collection competitor with its Justride mobile ticketing and account-based platform, directly challenging Cubic's Umo Mobility platform with a cloud-native approach.

Broad incumbents

• Thales Group: Thales operates a global Ground Transportation Systems business (formerly Gemalto) and a major defense business, mirroring Cubic's dual-segment structure and competing in both fare collection and defense electronics/SATCOM.
• L3Harris Technologies: L3Harris is a major defense prime that competes with Cubic Defense in tactical communications, SATCOM, and military training instrumentation across U.S. DoD programs.
• Leonardo DRS: Leonardo DRS provides defense electronics, communications, and sensor solutions that overlap with Cubic Defense's DTECH edge compute, networking, and tactical communications portfolio.
• BAE Systems: BAE Systems competes with Cubic Defense across training and simulation, secure communications, and intelligence solutions for the U.S. Army and allied militaries.
• Siemens Mobility: Siemens Mobility is a global intelligent transportation systems and rail signaling incumbent that competes with Cubic Transportation in traffic management and transit infrastructure deployments.
• Indra Sistemas: Indra operates both transportation ticketing/ITS solutions and defense electronics businesses, structurally similar to Cubic's dual-segment model and competing in European and Latin American transit and defense markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/CubicCorporation
• LinkedInlinkedin.com/company/cubic
• Xx.com/cubiccorp
• Facebookfacebook.com/cubiccorporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A24 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cubic Corporation