Contract Option Exercises — October 21, 2026

The award is full and open, substantially funded ($106.0M outlayed of $107.8M obligated), and has a potential end of 2028-03-28 with a $174.1M ceiling. Revenue visibility depends on option exercise after the 2025-04-15 current end date.

A labor-hours cybersecurity support call order for SSA's Office of Information Security with $38.9M already outlayed and a $78.5M base-plus-options ceiling implies roughly $39.4M of unobligated potential value.

The firm-fixed-price VA delivery order has $86.8M currently obligated against a $770.7M base-plus-options value through 2030-09-28, but most value depends on future option exercises.

A firm-fixed-price interface and data conversion order for the VA's Integrated Financial and Acquisition Management System runs to 2030-09-15 with a $150.0M potential value, though nine subawards totaling $54.0M exceed the prime obligation.

Booz Allen's $32.8M obligation sits near its $33.2M base-plus-options ceiling, and five subawards totaling $19.7M (about 60% of obligation) limit retained revenue; no outlays are reported yet.

The SDVOSB set-aside firm-fixed-price contract has identical current and potential end dates and $0 outlayed, so execution risk is unproven against the 2027-04-23 end date.

The GSA PBS firm-fixed-price courthouse project reports $0 outlayed and 46% of obligation ($14.1M) flowed to 11 subawards, so retained margin and execution pace are unverified.

The firm-fixed-price B280 Strength & Conditioning Complex order has $27.4M outlayed of $31.6M obligated, indicating well-advanced execution against a 2027-03-30 end date.

Only $25.6M (about 20%) of the $130.9M base-plus-options value is obligated, with $0 outlays, so the investment case depends on future option exercise.

Strategic Operational Solutions' SDVOSB set-aside supports Army Reserve/National Guard Bureau NCR IT services, the single defense-linked award in this period.

Most aggregate value is contingent on option exercises and incremental funding, including SWISH DATA ($86.8M obligated vs. $770.7M potential), PPD Development ($73.2M vs. $186.4M), and Tecolote Research ($47.4M vs. $166.4M).

Several awards show $0 outlays at the data snapshot, including Floyd Construction, Ross Group, Innovation Associates, CACI NSS, Tecolote Research and Booz Allen, so revenue realization is unverified.

Heavy subcontracting flow-down reduces prime retained revenue, including Innovation Associates (34% to subawards), CACI NSS ($54.0M across nine subawards), Booz Allen (about 60%) and Ross Group (46%).

Non-competed and cost-plus awards (Cherokee Nation $287.0M, NASA JPL $46.3M, Johns Hopkins APL $27.9M) carry sole-source durability and justification questions.

Continued SSA IT support via IT Concepts' call orders, with the potential end of 2028-03-28 supporting multi-year revenue if options are exercised.

VA IT and financial-system modernization awards to CACI NSS and SWISH DATA extend into 2030 with large potential ceilings.

SDVOSB set-aside awards to Strategic Operational Solutions and Floyd Construction indicate continued preferential federal spend in veteran-owned categories.

NASA science R&D through JPL and Johns Hopkins APL continues funding into 2027, with option value remaining on both.

IT services awards dominate the period, including IT Concepts' SSA orders ($107.8M and $39.1M), CACI NSS VA ($46.4M), Booz Allen USPTO ($32.8M) and SWISH DATA VA ($86.8M).

Construction and facilities awards include Whiting-Turner (DHS/FLETC, $31.6M), Ross Group (GSA courthouse, $30.6M) and Floyd Construction (VA endoscopy, $24.4M).

Only one of 21 awards (Strategic Operational Solutions, Army Reserve IT via GSA) is defense-related, indicating this option-exercise stream is civilian-weighted.

{"entity" => "IT Concepts, Inc.", "reason" => "Two SSA call orders totaling $146.8M in combined obligation, with $145.0M outlayed to date and options extending to 2028.", "trigger" => "Option exercise or extension beyond the 2025-04-15 current end date"}

{"entity" => "SWISH DATA CORPORATION", "reason" => "$86.8M obligated against $770.7M base-plus-options, so value depends on VA option exercise.", "trigger" => "VA option period exercise through 2027-09-28"}

{"entity" => "CACI NSS, LLC", "reason" => "$46.4M VA financial-system task order with $54.0M across nine subawards and $0 outlayed.", "trigger" => "First invoicing and option exercise prior to 2027-09-15"}

{"entity" => "Floyd Construction and Ross Group Construction", "reason" => "Both show $0 outlays on construction awards totaling $55.0M, with unverified execution pace.", "trigger" => "First outlay reporting and milestone completion through 2027"}

{"entity" => "Civilian IT services sector", "reason" => "Dominant theme in this period, with value concentrated in a few primes and heavy option dependence.", "trigger" => "FY2027 appropriations and CR resolution affecting SSA, VA and GSA IT budgets"}