Federal Professional Services Contracts — October 16, 2026

WERIS holds a $28,352,140 firm fixed price FHWA delivery order with $17,680,594 (about 62%) outlaid and roughly $10.7M remaining through 2027-08-17. Progression of outlays and any option exercise will be the observable signal if the recipient proves to be investable.

Leidos, Inc.'s firm fixed price TSA delivery order ($13,227,842 obligated, 2017 award, closeout status) records just $57 outlaid, which the data cannot reconcile with the obligation. Until final value is confirmed, this should not be read as revenue for Leidos.

SIGMA DEFENSE SYSTEMS LLC's $23,872,699 firm fixed price Joint AISR sustainment order, awarded 2022 with performance through 2027-06-01, reports $0 outlaid, so realized performance and billing are not yet evidenced. It is the only defense-related award in the set and is not tied to any publicly traded parent in the data.

COLSA Corp's $23,780,556 NASA NTSS task order runs to 2026-09-30 with $17,159,004 outlaid, leaving about $6.6M to expense, and 13 subawards totaling $12,579,628 (about 53% of obligation). Year 4 or follow-on NTSS award decisions are the near-term catalyst.

CSSI, LLC's $12,920,076 FAA time-and-materials BPA call is restricted to small business set-aside competition, and revenue scales with labor hours and funding actions rather than fixed deliverables. The recipient is a private subsidiary of CSSI INC with no public vehicle identified.

Westat, Inc.'s $17,374,312 AHRQ time-and-materials order (about 80% outlaid, $13.9M) has roughly $5.4M of unobligated base-plus-options value that could be exercised through 2028-01-29. Option exercise and any CAHPS or SOPS successor award are the observable catalysts.

Outlay records are inconsistent with obligations for several awards: Leidos shows $57 of $13,227,842 outlaid on a closed 2017 order and SIGMA shows $0 of $23,872,699, so realized revenue is unverified for these positions.

Four of six awards are time-and-materials or subject to funding/option actions, so revenue depends on continued appropriations rather than fixed deliverables; the data contains no multi-year budget trend for any of the agencies.

Heavy subcontracting pass-through: COLSA's 13 subawards equal about 53% of obligation and Leidos's 39 subawards about 51%, so a meaningful share of value may not accrue to the prime.

The defense-related SIGMA award was competed full and open with no set-aside and no identified moat, and the data offers no competition-intensity evidence for the other awards.

WERIS, INC's FHWA workforce and technology support order ($28.35M, 62% outlaid) and CSSI, LLC's FAA ATO mission support order ($12.92M, with options to $17.96M) indicate continued civilian transportation services demand.

SIGMA DEFENSE SYSTEMS' Joint AISR integration and sustainment order ($23.87M through 2027-06-01) is the only defense-related award and could expand with modifications.

COLSA Corp's NASA NTSS Year 3 order ($23.78M) and Westat's AHRQ patient-experience research order ($17.37M) suggest recurring civilian science and healthcare research support spending.

Transportation agencies account for about $41.3M (34.6%) of the $119.5M total across WERIS (FHWA) and CSSI (FAA), the largest sector cluster in this stream.

Only one of six awards ($23.87M, about 20% of the total) is defense-related, routed through a civilian GSA vehicle, so this stream is not a defense-spending read-through.

COLSA (about 53%) and Leidos (about 51%) pass a majority-level share of obligation to subawards, limiting prime-level margin visibility.

{"entity" => "WERIS, INC", "reason" => "Largest award in the set ($28,352,140 FHWA order, 62% outlaid), but public-company status is not established.", "trigger" => "Outlay progression toward $28.35M and any modification before 2027-08-17"}

{"entity" => "Leidos, Inc.", "reason" => "$13.2M TSA order shows only $57 outlaid on a 2021-closed contract, so revenue recognition is unclear.", "trigger" => "Confirmation of final contract value and any follow-on TSA EDS delivery orders"}

{"entity" => "COLSA Corp", "reason" => "$23.78M NASA NTSS Year 3 order with 13 subawards (~53% of obligation) and about $6.6M left to expense.", "trigger" => "NTSS Year 4 or follow-on award decision after 2026-09-30"}

{"entity" => "SIGMA DEFENSE SYSTEMS LLC", "reason" => "Only defense-related award in the set ($23.87M) with $0 outlaid recorded.", "trigger" => "First outlay reporting and recompete/follow-on activity ahead of 2027-06-01"}

{"entity" => "Westat, Inc.", "reason" => "$17.37M AHRQ order, about 80% outlaid, with roughly $5.4M of option value.", "trigger" => "AHRQ option exercise or CAHPS/SOPS successor award before 2028-01-29"}

{"entity" => "CSSI, LLC / CSSI INC", "reason" => "$12.92M FAA set-aside time-and-materials order, with options to $17.96M; parent is private.", "trigger" => "FAA option exercise and recompete announcement ahead of 2027-05-17"}