New Federal Contractors — October 15, 2026

Blue Origin's firm-fixed-price delivery order under NASA's VADR vehicle runs through 2032-01-27, with $18,475,002 (about 19%) outlayed. Only about 2% of the $5B ceiling is obligated, so incremental orders could be significant but are not yet committed.

SAIC received a time-and-materials FHWA IT infrastructure order with $64,439,373 outlayed and a $116.6M base-plus-options value through 2027-06-30. Subawards of $41,782,968 (about 55%) limit SAIC's retained economics.

Impulse Space's $37,374,116 NASA order has only $239,116 outlayed (0.6%), and Arrow Science's $35,992,906 order has $59,040 outlayed against a $5B ceiling. Revenue recognition from these awards is far off and depends on future option or order exercises.

The 2012-dated EPA managed desktop award shows only $635,018 outlayed, and its end dates (2016-2017) have passed, so the status is unverified and likely not a current ASGN revenue driver. The ASGN parent-level contribution cannot be assessed from the data.

Peraton, a Veritas Capital subsidiary, won a labor-hours FBI security assessment call under a competed SAP, with $0 outlayed and a potential end of 2032-03-29. Peraton's public status is not established, so direct equity exposure is unclear.

A foreign-owned Stonex Financial received a $32,756,349 U.S. Mint silver raw material order ending 2026-10-21 with no outlays reported. Whether delivery and payment occur within the window is the key uncertainty.

Several large awards show very low outlay pace relative to obligations and performance windows, including Blue Origin (19% outlaid), Impulse Space (0.6%), Arrow Science (0.2%), and Stonex (0%). Slow outlays may signal delayed performance or revenue recognition.

Several awards are funded incrementally or carry large unexercised ceilings, including SAIC FHWA (funded through 10/31/2024 tranche), Peraton HHS ($58.9M of $100.7M), and FEDTEC SSA ($22.0M of $117.3M). Option exercise depends on future appropriations and continuing resolution timing.

Heavy subcontracting limits prime retained value: Peraton HHS subawards total about 80% of obligation ($47.2M), SAIC FHWA about 55% ($41.8M), and Billy W. Jarrett VA about 68% ($15.0M).

Blue Origin and Arrow Science have $5B-ceiling NASA KSC umbrella task orders, where incremental delivery orders could materially expand obligations. Impulse Space has a $300M ceiling in the same vehicle family.

Multiple VA construction and infrastructure awards (Billy W. Jarrett $22.1M CBOC, IRONCLAD $22.4M mental health renovation, MDM Construction $13.8M EHRM upgrades) indicate continued VA facilities investment, though the awards are to private small firms.

Several small-business and 8(a) awards (PCI Aviation $19.7M sole-source 8(a) USMC maintenance, Index Analytics $13.6M HHS 8(a), Burchick $21.2M GSA courthouse) show policy-protected revenue streams, though these recipients appear private.

NASA-related awards total roughly $0.5B in this set (Caltech alone accounts for several large JPL-managed cost-plus awards, plus Blue Origin, Impulse Space, and Arrow Science launch orders). Most recipients are nonprofits or private firms, so investable exposure is indirect.

IT modernization awards from FHWA, FBI, CMS, FAA, and FAS (SAIC, Peraton, General Dynamics IT, Deloitte, FEDTEC) indicate sustained civilian IT demand, with heavy subcontracting common.

A large share of awards are small-business, SDVOSB, or 8(a) set-asides (IRONCLAD, MDM Construction, Billy W. Jarrett, Burchick, PCI Aviation, XPECT, BRIDGEPHASE), reflecting policy-protected pools rather than open competition.

{"entity" => "Blue Origin, LLC (private) / space launch sector", "reason" => "$99.6M obligated against a $5B NASA KSC ceiling with only $18.5M outlaid; incremental orders could be significant.", "trigger" => "Incremental obligations or option exercises under the VADR umbrella before 2032-01-27"}

{"entity" => "Science Applications International Corporation (SAIC)", "reason" => "$76.6M FHWA order with 55% subcontracted and funding tranche-based through 10/31/2024.", "trigger" => "Subsequent funding modifications and option exercise before 2027-06-30 end date"}

{"entity" => "Peraton Inc. / Veritas Capital", "reason" => "Two large awards in this set (HHS $59.0M, FBI BPA call $19.9M) with 80% subcontracting on the HHS order.", "trigger" => "HHS option exercises before 2027-10-31 and FBI call order outlay progression"}

{"entity" => "STONEX FINANCIAL LTD", "reason" => "$32.8M U.S. Mint silver order with $0 outlaid and an 8-day performance window ending 2026-10-21.", "trigger" => "Delivery acceptance and first outlay recorded before 2026-10-21"}

{"entity" => "General Dynamics Information Technology (GD Corp parent)", "reason" => "$22.3M FAA FMDS hardware order running 2026-09-23 to 2027-09-22 with $0 outlaid and a truncated scope description.", "trigger" => "Outlay progression and any follow-on FMDS/TFMS replacement award"}