Executive Summary
Iron Vine Security LLC holds a $64.4M obligated BPA call from the Department of State for IT security compliance services, with $24.7M outlayed and $21M in unexercised options pushing potential value to $85.5M. Neutral signal reflects steady revenue from this time-and-materials small business set-aside, balanced by execution risks and funding uncertainties through 2026-2027. Investors in govcon IT services should monitor outlay acceleration and options for portfolio alpha in cybersecurity exposure.
Tracking the trend? Catch up on the prior High-Value Federal Grants ($5M+) digest from January 01, 2026.
Investment Signals(2)
- $21M Unexercised Options(MEDIUM)▲
Contract includes options elevating total potential to $85.5M, plus possible 2027 extension.
- Outlay Lags Obligation(HIGH)▲
Only $24.7M outlayed vs $64.4M obligated, risking lower revenue if options unexercised.
Risk Flags(2)
- Execution[HIGH RISK]▼
Time-and-materials structure ties revenue to State Dept-approved billed hours and task order variability.
- Market[MEDIUM RISK]▼
Extended period to 2026-09-29 (potentially 2027-09-30) vulnerable to federal funding shifts.
Opportunities(2)
- ◆
$21M unobligated options and 2027 extension potential under current BPA.
- ◆
Small business set-aside success in NAICS 541519 positions for follow-on IT security contracts.
Sector Themes(1)
- ◆
$64.4M State Dept obligation underscores demand for compliance services via small business vehicles.
Watch List(1)
- 👁
{"entity"=>"IRON VINE SECURITY LLC", "reason"=>"$64.4M State Dept contract drives near-term revenue with $21M options upside.", "trigger"=>"Outlays >$40M or options exercised >$10M"}
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