Contract Deobligations Alert — April 08, 2026

$119M cost-plus-fixed-fee obligation (potential $481M base+options) for antibiotics targeting drug-resistant infections/biothreats through 2036, under full competition with $0 outlays yet signaling multi-year biotech revenue visibility.

$93M time-and-materials delivery order (potential $199M) under full competition, with $21.8M outlays and 9 subawards totaling $5.9M, providing 2-5 year IT revenue through 2030.

$77M cost-plus-award-fee obligation (potential $910M ceiling) via full competition for cyber enterprise services, with 43 subawards at $161M and $0 outlays, offering long-term growth to 2032.

$79M cost-sharing obligation (potential $114M) with $70.7M outlays for biotech R&D against resistant infections, extending to 2027-2031 under full competition.

$90M firm-fixed-price delivery order (potential $148M) with $50.5M outlays and 178 subawards at $29.6M, supporting IT systems design through 2027-2029.

$116M cost-plus-award-fee delivery order (potential $165M) with 164 subawards at $59M and negative -$162k outlays signals potential deobligation or execution issues on 2018-2023 IT services.

$110M firm-fixed-price obligation fully outlayed but terminated 3/24/2025 per executive orders, with 513 subawards at $70M, capping future revenue post-2024.

Multiple new awards with $0 outlays including Shionogi $119M HHS, ManTech $77M GSA, Deloitte $70M State, and GEO Group $67M ICE expose revenue to non-start delays.

Smartronix $116M GSA IT shows negative -$162k outlays and Quality Support $113M State visa support at $0 outlays despite long tenures, vulnerable to CR deobligations.

High firm-fixed-price risk on ENSCO $70M DOT rail inspection, Focus Revision $69M DHS FEMA engineering, and Greenbrier $61M VA software with partial outlays.

IBM $110M Treasury termination for convenience per executive orders highlights regulatory shift risk in IRS IT modernization.

HHS BARDA biotech R&D expansion via Shionogi $119M (potential $481M to 2036) and Vedanta $79M (potential $114M to 2031) for biothreat antibiotics.

VA/GSA IT services scaling with Salient CRGT $93M (potential $199M to 2030), ManTech $77M (potential $910M to 2032), and Serco $96M PBGC (potential $239M to 2029).

Treasury IRS IT continuity for IBM via $90M active (potential $148M) offsetting prior $110M termination.

Shionogi $119M and Vedanta $79M awards (total $198M obligated, $70M outlays on Vedanta) fund late-stage antibiotics for resistant infections/biothreats under NAICS 541714.

Salient CRGT $93M VA, ManTech $77M GSA cyber, IBM $90M Treasury, Smartronix $116M GSA total $376M+ in NAICS 541512 IT systems design obligations.

Syncom $100M (98% outlayed) facilities support and Lockheed $4.5M astrophysics R&D signal steady civilian space ops funding.

{"entity"=>"Shionogi Inc", "reason"=>"$119M HHS BARDA with $0 outlays and $481M potential requires monitoring for biotech milestones.", "trigger"=>"outlay progress, FDA authorization milestones"}

{"entity"=>"ManTech International Corp (MANT)", "reason"=>"$77M GSA USSOUTHCOM cyber IT (potential $910M ceiling) at $0 outlays and 43 subawards $161M.", "trigger"=>"option exercises beyond 2026-04-24"}

{"entity"=>"IBM (IBM)", "reason"=>"Dual Treasury awards: $90M active vs $110M terminated; track $50M outlays on active.", "trigger"=>"option exercises to $148M, termination settlement"}

{"entity"=>"Salient CRGT Inc", "reason"=>"$93M VA IT with $21.8M outlays toward $199M potential to 2030.", "trigger"=>"outlay progression, option exercises"}

{"entity"=>"Smartronix LLC", "reason"=>"$116M GSA IT negative -$162k outlays signals deobligation risk.", "trigger"=>"outlay updates, 2023-08-04 completion"}