Contract Deobligations Alert — April 30, 2026

Caddell Construction Co. (DE), LLC awarded $328,507,039 firm fixed-price contract for Praia, Cape Verde embassy construction, fully obligated (base + options) with 4-year performance to 2028-11-08 under full and open competition.

Booz Allen Hamilton Inc received $254,534,977 obligated delivery order (base + options $256.9M) for IT services, with $179.6M outlayed to date and performance through January 2025 via full and open competition.

Rapiscan Systems Inc (OSI Systems subsidiary) awarded $81,416,250 firm fixed-price contract (base + options $153M) from DHS/CBP, with $42.7M outlayed and performance to 2027-04-26 as non-competed award.

General Atomics Aeronautical Systems holds $272,580,354 cost-plus-fixed-fee obligation (base + options $275.8M) for UAS services to DHS/CBP, with only $34.3M outlayed over 5-year period ending 2023-04-18.

Firm fixed-price structure exposes Caddell Construction to high performance risk on $328.5M State embassy contract with $0 outlayed to date and 4-year execution to 2028-11-08.

Inmar RX Solutions faces high firm fixed-price risk on $100.3M HHS medical waste contract (options to $221M) with only $24.7M outlayed over 3-year period to 2026-09-24.

Low outlays signal potential deobligation risk on General Atomics' $272.6M DHS UAS contract ($34.3M outlayed vs. $272.6M obligated) post-2023-04-18 end date.

Booz Allen Hamilton's NSF IT order has $2.45M unexercised options atop $254.5M obligation, extending visibility to 2025-01-15.

Rapiscan Systems (OSI) DHS contract options could lift total from $81.4M obligation to $153M ceiling through 2027-08-26 potential end.

Boston University's HHS BARDA R&D contract options could expand from $150.8M obligation to $285.8M, with performance potential to 2032-05-31.

Caddell Construction's $328.5M fully obligated State Department embassy project signals robust demand for commercial building construction (NAICS 236220) with 4-year revenue visibility.

$354M combined obligations to General Atomics ($272.6M UAS) and Rapiscan ($81.4M inspection maintenance) underscore ongoing CBP needs in air support and equipment repair.

HHS awards $251M total to Boston University ($150.8M BARDA antibacterial R&D to 2029/2032) and Inmar RX ($100.3M medical waste to 2026/2027) highlight sustained investment.

{"entity"=>"Caddell Construction", "reason"=>"$328.5M State contract with $0 outlayed and high firm fixed-price risk over 4 years to 2028-11-08", "trigger"=>"outlay progress initiation, modifications to base + options"}

{"entity"=>"Booz Allen Hamilton (BAH)", "reason"=>"$254.5M NSF IT order with $179.6M outlayed and $2.45M options to 2025-01-15", "trigger"=>"option exercise status, subaward trends ($19.75M)"}

{"entity"=>"OSI Systems (OSIS) / Rapiscan", "reason"=>"$81.4M DHS obligation ($42.7M outlayed) with options to $153M to 2027-04-26/08-26", "trigger"=>"additional outlays, option exercises"}