Significant Contract Modifications ($10M+) — October 15, 2026

Blue Origin received a firm-fixed-price NASA Kennedy VADR delivery order with $99,569,229 obligated against a $5.0B base-plus-options value, running through 2032-01-27, with $18.5M outlayed. Incremental obligations against the ceiling would be the key revenue catalyst, though only about 2% is currently funded.

Impulse Space, Inc. received a NASA Kennedy umbrella task order with $37,374,116 obligated against a $300,000,000 base-plus-options ceiling, running through 2032-01-27, though only $239,116 has been outlayed.

Peraton received a $19.9M FBI BPA call order (ceiling $166.7M) and a $58.99M CMS delivery order (ceiling $100.7M), but $47.2M of the CMS work is subawarded, limiting retained economics. Concentration across DOJ and HHS suggests a durable federal IT franchise, with parent Veritas Capital.

SAIC received a $76,606,535 FHWA task order with a $116.6M ceiling, but 13 subcontracts worth $41.8M (about 55%) pass through, reducing retained revenue; funding is incremental through 10/31/2024.

PCI Aviation LLC's GSA USMC KC-130 maintenance award is 8(a) sole-source with $19,732,548 obligated against a $20,301,379 ceiling (about 2.8% unobligated), so future growth depends on a new award rather than option exercise, and the 8(a) program term limits renewal assurance.

STONEX FINANCIAL LTD, a foreign-owned firm, received a $32,756,349 U.S. Mint silver raw material delivery order with a 2026-10-21 end date and $0 outlayed, so execution and delivery before the window closes are unverified.

ECS Federal (ASGN) holds a 2012 EPA managed desktop order with $68.6M obligated but only $635,018 outlayed and end dates in 2016-2017, so current status is unclear and its revenue contribution to ASGN cannot be confirmed.

Several large awards show $0 outlays despite award dates in prior years or near-term start dates, including Ironclad, Burchick-related and Veteran Information Technologies, Stonex and NOVA Space; outlay progression is unverified.

Subaward pass-through is high across several primes: Peraton CMS (about 80%), SAIC FHWA (about 55%), Caltech-style awards and Burchick (about 17%), limiting prime retained revenue.

Several awards are near-term or limited-duration with uncertain follow-on, including Research Triangle Institute (one-year $21.6M CMS order), Amentum FILMSS 2 (ends 2026-11-30) and CBE Group bridge contract (ends 2026-08-17).

Most awards are full-and-open competition with no set-aside, meaning small-business designations did not drive eligibility, such as Peraton, Dell Federal, GD IT and Ecko JV set-aside treatment varies.

Blue Origin and Impulse Space hold large NASA Kennedy launch-services vehicles with ceilings of $5.0B and $300M, respectively, offering substantial incremental order potential as funding is released.

Multiple VA construction and IT awards are set aside for SDVOSBs (MDM Construction, Blue Cord, Ecko JV, Cykor, Veteran Information Technologies), indicating protected follow-on pipelines for veteran-owned firms.

Caltech/JPL holds several sole-source cost-plus NASA delivery orders (SKYFALL $112.3M, Rosalind Franklin $95.1M, JUICE RIME $22.3M) that are likely to be extended or renewed.

NASA contracts dominate the stream by count and value, spanning JPL-managed Mars and Europa missions (SKYFALL $112.3M, Rosalind Franklin $95.1M, JUICE RIME $22.3M) and Kennedy launch-services vehicles (Blue Origin, Impulse Space, Arrow Science).

A large cluster of VA construction, renovation and infrastructure awards go to service-disabled veteran-owned small businesses, including MDM Construction ($13.8M), Blue Cord ($13.0M), Ecko JV ($12.0M), Ironclad ($22.4M) and Billy W. Jarrett ($22.1M).

IT and managed-services awards across FHWA, DHS, GSA, EPA and SSA (SAIC $76.6M, Peraton $58.99M and $19.9M, General Dynamics IT $22.3M, FedTec $22.0M, IBM $12.5M) show continued civilian modernization demand, but with heavy subawarding.

{"entity" => "Blue Origin LLC", "reason" => "$99.6M obligated against a $5.0B ceiling; incremental funding is the main revenue catalyst.", "trigger" => "Incremental obligation or option exercise on NASA Kennedy VADR order; end date 2032-01-27"}

{"entity" => "Peraton Inc.", "reason" => "Multiple federal awards totaling about $79M across FBI and CMS with heavy subawarding and a $166.7M FBI ceiling.", "trigger" => "FBI BPA call order option exercise; CMS option decision ahead of 2027-10-31"}

{"entity" => "Science Applications International Corporation", "reason" => "$76.6M FHWA order only partly funded through 10/31/2024 with 55% subawarded.", "trigger" => "Incremental funding modifications and option exercise ahead of 2027-06-30"}

{"entity" => "Stonex Financial Ltd", "reason" => "$32.8M U.S. Mint order with $0 outlayed and an 8-day performance window ending 2026-10-21.", "trigger" => "Delivery and acceptance confirmation or outlay recognition before 2026-10-21"}

{"entity" => "Amentum Services Inc", "reason" => "NASA Ames FILMSS 2 order ends 2026-11-30 with 80% outlayed, leaving a follow-on question.", "trigger" => "Recompete or follow-on task order announcement before 2026-11-30"}

{"entity" => "The CBE Group Inc", "reason" => "Treasury PCA bridge contract ends 2026-08-17 with 94.6% outlayed.", "trigger" => "Successor solicitation for Bureau of the Fiscal Service PCA services"}