All NASA Contracts — October 21, 2026

The $46,262,547 cost-plus-fixed-fee obligation to California Institute of Technology has roughly $11.6M of options value not yet obligated, with performance running through 2027-09-30. Option exercise or non-exercise will signal NASA's continued funding commitment to the Voyager Interstellar Mission.

Only $5,750,157 (about 21%) of the $27,907,916 obligation to THE JOHNS HOPKINS UNIVERSITY APPLIED PHYSICS LABORATORY LLC had been outlayed at the data date, with performance ending 2027-03-31. Slow disbursement may reflect early-stage work or timing, and warrants monitoring for NASA Marshall program delays.

The Caltech award is cost-plus-fixed-fee, not competed, with $33,122,945 (about 72%) outlayed to date against a $46,262,547 obligation. The structure minimizes cost overrun exposure for the recipient, though it provides no direct equity exposure.

Eight subawards totaling $4,500,797 (about 16% of the $27,907,916 obligation) flow to other organizations under the Marshall ARDES II vehicle. This indicates a secondary contractor ecosystem that could benefit from NASA space science spending, though those subrecipients are not identified in the data.

Both contracts depend on NASA annual appropriations; the data provides no NASA or Science Mission Directorate budget trend, so continuity of funding for the Voyager Interstellar Mission and Marshall space science work cannot be confirmed from this data set.

Johns Hopkins APL's disbursement rate of roughly 21% against a 2024-03-04 start with a 2027-03-31 end leaves a large back-loaded outlay requirement, raising execution-timing risk if NASA Marshall work slips.

Neither award was competed, so the recipients face no in-period competitive pressure, but re-compete risk arises at the end of performance periods, potentially opening these work streams to rival bids.

Caltech's non-competed JPL award for the Voyager Interstellar Mission reflects a sole-source relationship that sustains the nonprofit's position through 2027-09-30, though no public equity is tied to it.

Johns Hopkins APL's ARDES II Marshall work, supported by eight subawards totaling $4,500,797, could expand subcontracting opportunities for smaller space science and engineering firms as the program matures.

Both awards route NASA space science R&D through nonprofit university-affiliated research centers under cost-plus-fixed-fee, non-competed vehicles totaling $74,170,463 in obligations. This model concentrates NASA science spending in a small set of nonprofit performers rather than publicly traded contractors.

{"entity" => "NASA Jet Propulsion Laboratory (Caltech-managed)", "reason" => "The $46,262,547 Voyager Interstellar Mission delivery order carries roughly $11.6M of unexercised options and $11.1M of obligated-but-unspent value, making option decisions a key signal of NASA's commitment.", "trigger" => "Option exercise or non-exercise decision and any obligation modification before 2027-09-30"}

{"entity" => "NASA Marshall Space Flight Center / Johns Hopkins APL", "reason" => "Only $5,750,157 of the $27,907,916 obligation (about 21%) had been outlayed at the data date, with performance ending 2027-03-31, creating timing and execution risk.", "trigger" => "Quarterly outlay reports, option exercise toward $42,833,074 base-plus-options value, and any end-date modification"}