All NASA Contracts — July 03, 2026

KBR's $364.7 million cost-plus-fixed-fee contract from NASA Ames Research Center ends November 2024, leaving limited remaining revenue runway. The cost-plus structure caps margin potential, and renewal is uncertain.

KBR's revenue from this single NASA contract represents a significant portion of its government services segment, with $364.7 million obligated. Concentration risk is elevated if KBR fails to win a follow-on award.

NASA's R&D budget for Ames Research Center could face cuts or reallocation, impacting the likelihood of a follow-on contract. The contract is civilian, so it is not protected by defense authorization priorities.

KBR could secure a follow-on contract from NASA Ames Research Center, given its incumbent position and proven performance on this $386.4 million award. NASA's sustained investment in ISS and R&D programs supports continued demand.

This single large NASA contract to KBR highlights the agency's reliance on cost-plus-fixed-fee structures for long-term R&D support, providing stable but capped margins. The impending expiration underscores the cyclical renewal risk in civilian agency contracts.

{"entity"=>"KBR, Inc.", "reason"=>"KBR's $364.7 million NASA contract ends November 2024, posing renewal risk that could impact revenue visibility.", "trigger"=>"November 2024 contract end date; NASA RFP for follow-on support"}

{"entity"=>"NASA Ames Research Center", "reason"=>"NASA's R&D budget for Ames will determine the likelihood and size of a follow-on contract for KBR.", "trigger"=>"NASA FY2025 budget request and congressional appropriations"}