All NASA Contracts — September 12, 2026

United Launch Services received a non-competed, firm-fixed-price contract for Centaur upper stages under the Artemis program, with a total potential value of $177.4M through 2031. This signals stable, long-term revenue for ULA’s parent and aligns with bipartisan NASA exploration priorities.

The $280.2M cost-plus-fixed-fee contract for NASA Ames IT services ended in 2020, with $225.3M already subawarded. This represents historical revenue with no current contribution to Arctic Slope Regional Corporation’s earnings, raising concerns about federal revenue dependence.

ULA’s $59.5M fixed-price contract for Centaur upper stages carries medium pricing risk; cost overruns on fixed-price space contracts are common, potentially compressing margins for ULA’s parent companies (Boeing and Lockheed Martin).

Arctic Slope Regional Corporation’s $280.2M NASA IT contract is expired, representing a significant revenue concentration risk if the company has not secured follow-on awards. The contract was 69% of the total digest value.

ULA’s sole-source position for Centaur upper stages under Artemis creates a durable revenue stream. Investors can monitor option exercises and modifications to the $177.4M ceiling for upside surprises.

NASA’s continued IT services spending, evidenced by the $280.2M ASRC contract (though expired), suggests opportunities for other IT contractors at NASA Ames. Companies like Science Applications International Corp (SAIC) or Leidos (LDOS) could compete for follow-on work.

The $59.5M sole-source award to ULA for Centaur upper stages reinforces the trend of NASA relying on established, non-competed suppliers for critical Artemis components. This reduces competitive pressure for incumbents but raises execution risk.

The $280.2M ASRC IT contract expired in 2020, highlighting the risk of revenue cliffs for government services contractors when large contracts end without follow-on awards. This is a cautionary signal for investors in small business set-aside contractors.

{"entity" => "United Launch Alliance (Boeing/Lockheed Martin)", "reason" => "The $59.5M sole-source Artemis contract provides near-term revenue visibility, but fixed-price execution risk and option exercise dates are key monitoring points.", "trigger" => "Option exercise announcements from NASA Marshall Space Flight Center; Artemis program budget updates"}

{"entity" => "Arctic Slope Regional Corporation", "reason" => "The $280.2M expired NASA IT contract represents a significant historical revenue stream with no current contribution, raising concerns about federal revenue dependence.", "trigger" => "New NASA contract awards to ASRC entities; re-compete announcements for NASA Ames IT services"}