Contract Deobligations Alert — August 13, 2026

The $84.6 million firm-fixed-price VA medical exam contract for QTC Medical Services (Leidos subsidiary) is 96% outlayed ($80.9M of $84.6M), leaving minimal remaining revenue and no forward visibility for this specific award.

The Booz Allen Hamilton $136.2 million GSA delivery order at Tinker AFB shows a negative outlayed amount in the data, which could indicate accounting adjustments or cash flow issues that require monitoring.

Booz Allen Hamilton’s $136.2 million Tinker AFB contract has a negative outlayed amount, potentially signaling cash flow timing issues or contract modification accounting that could affect near-term revenue recognition.

Leidos’ VA medical exam revenue is concentrated in a single, nearly completed contract ($84.6M, 96% outlayed), with no follow-on award visible in this data set, creating a gap in health services revenue visibility.

The $639.6 million Department of Education modification to Missouri Higher Education Loan Authority carries unknown pricing and competition signals, and given civilian agency budget uncertainty under a potential Continuing Resolution, this large obligation may face deobligation risk.

Booz Allen Hamilton’s competitive win at Tinker AFB ($136.2M, ceiling $161.5M) positions the company for follow-on IT and mission assurance work at a key Air Force base, with option exercises potentially increasing total value by 19%.

The VA’s $84.6 million firm-fixed-price award to Leidos’ QTC subsidiary under the Veterans Benefits Improvement Act signals stable statutory demand for medical disability exams, creating a potential re-compete opportunity in Region 1 (Northeast).

Two of three contracts ($724.2M, 84% of total value) are civilian—Education and VA—with neutral signals and limited forward revenue visibility, contrasting with defense-adjacent contracts that offer longer performance periods.

Both Booz Allen Hamilton and Leidos (QTC) won their contracts under full-and-open competition with no set-asides, indicating competitive moats in defense-adjacent IT and VA medical exams respectively.

{"entity" => "Booz Allen Hamilton Inc.", "reason" => "Negative outlayed amount on $136.2M Tinker AFB contract and option exercise potential ($161.5M ceiling) create both risk and upside.", "trigger" => "Next quarterly filing for cash flow clarification; option exercise announcement"}

{"entity" => "Leidos Holdings Inc. (QTC Medical Services)", "reason" => "VA medical exam contract is 96% outlayed; no follow-on visible in this data set.", "trigger" => "New VA Region 1 solicitation release or award"}

{"entity" => "Missouri Higher Education Loan Authority / Department of Education", "reason" => "Large $639.6M obligation with unknown pricing and competition signals; vulnerable to civilian budget cuts or deobligation.", "trigger" => "FY2027 Education appropriations bill; CR expiration"}