Federal IT & Cybersecurity Contracts — October 21, 2026

IT Concepts has a $107,772,236 SSA agency-wide technical support call order with $106,009,224 outlayed, plus a $39,071,817 SSA cybersecurity call order with $38,940,867 outlayed. Both awards are full-and-open competitions, indicating performance-based wins rather than set-aside advantage.

The firm-fixed-price VA delivery order to Swish Data Corporation has a current obligation of $86,780,922 and $39,536,957 outlayed, with the headline ceiling of $770,695,258 dependent on option exercises through 2030-09-28. Recipient appears privately held, limiting direct public-equity relevance.

CACI NSS received a $46,375,615 firm-fixed-price VA task order with $0 outlayed, and nine subawards totaling $54,028,703 exceed the prime obligation, indicating heavy pass-through and downstream economics that are not detailed. Cost-overrun risk sits with the contractor under firm-fixed-price pricing.

Booz Allen Hamilton's USPTO IT security operations order carries five subawards totaling $19,673,771, roughly 60% of the obligation, which limits the prime's retained revenue share. No outlays are reported yet, and options add only about $400,000 beyond the obligation.

Deloitte Consulting received a $24,380,808 SBIR/STTR award from the Department of Homeland Security, the only defense-adjacent award in this stream. The data provides no scope, pricing type, or outlay detail, so its investment significance cannot be assessed beyond its size.

Strategic Operational Solutions received a $25,589,810 GSA-channeled time-and-materials order supporting Army Reserve and National Guard Bureau network IT, with options potentially reaching $130,903,457 and no outlays recorded. The company's public or private status and revenue scale are not determinable from the data.

Most awards show current obligations far below base-plus-options ceilings, so headline values materially overstate near-term revenue; the Swish Data VA order is $86,780,922 obligated against $770,695,258 potential, and CACI's VA order is $46,375,615 against $149,976,314.

Subaward concentration is high: CACI's nine subawards total $54,028,703 (exceeding prime obligation) and Booz Allen's five subawards total $19,673,771 (about 60% of its obligation), limiting prime retained margin and creating dependence on subcontractor performance.

Civilian concentration is pronounced: 6 of 7 awards are civilian, with SSA ($146,844,053 across two IT Concepts awards) and VA ($133,156,537 across Swish Data and CACI) together accounting for most of the stream's value, creating exposure to a small number of agency budget decisions.

Recipient-level data for competition signal and competitive moat is largely unknown across awards, so the durability of these positions against recompetition cannot be established from the data provided.

IT Concepts, Inc. could extend its SSA position through exercise of the remaining options on its two call orders, with the cybersecurity order carrying roughly $39.4M of unobligated ceiling and the technical support order carrying about $66.3M of unobligated ceiling against its $174,071,303 base-plus-options value.

Swish Data Corporation's VA Red Hat order could generate substantial recurring value if option periods run through 2030-09-28, given the $770,695,258 base-plus-options ceiling against $86,780,922 obligated.

Strategic Operational Solutions holds a service-disabled veteran-owned set-aside position on a GSA order that could expand to $130,903,457 if options are exercised through 2030-06-09.

Deloitte Consulting's $24,380,808 DHS SBIR/STTR award is the only homeland-security-linked award here and could signal follow-on Phase II or Phase III work, though the data does not confirm this.

Two agencies, SSA and VA, account for roughly $280M of the $362.8M stream, with SSA awards focused on technical support and cybersecurity and VA awards focused on Linux subscription support and financial system modernization. The pattern points to sustained civilian IT services spending rather than defense-driven demand.

CACI's nine subawards ($54,028,703) and Booz Allen's five subawards ($19,673,771) show primes passing substantial work downstream, limiting retained margin on these orders.

Across the stream, current obligations frequently represent a small portion of ceilings, with Swish Data at roughly 11% obligated and CACI at roughly 31%, making realized revenue contingent on future option and funding actions.

{"entity" => "IT Concepts, Inc.", "reason" => "Two SSA awards totaling $146,844,053 with high outlay progress ($106,009,224 and $38,940,867), making it the most material position in the stream.", "trigger" => "Option exercise or follow-on call order around the 2025-04-15 current end date"}

{"entity" => "CACI NSS, LLC", "reason" => "$46,375,615 VA order with $0 outlayed and nine subawards totaling $54,028,703, raising questions about invoicing and downstream economics.", "trigger" => "First outlay reporting and option exercise on the 2027-09-15 current end date"}

{"entity" => "Booz Allen Hamilton Inc", "reason" => "USPTO IT security order at $32,800,060 with about 60% subaward flow-down and no outlays reported yet.", "trigger" => "Outlay reporting and option exercise toward the 2027-10-31 end date"}

{"entity" => "Department of Veterans Affairs", "reason" => "Largest civilian agency exposure in the stream with combined awards of $133,156,537 across Swish Data and CACI.", "trigger" => "Option exercise decisions and any continuing resolution affecting VA IT funding"}

{"entity" => "Deloitte Consulting LLP", "reason" => "$24,380,808 DHS SBIR/STTR award is the only defense-adjacent award here, with scope and pricing undisclosed in the data.", "trigger" => "SBIR Phase II or Phase III announcement from DHS"}