Contract Deobligations Alert — October 15, 2026

Blue Origin's NASA Kennedy VADR delivery order carries $99,569,229 obligated against a $5,000,000,000 base-plus-options ceiling, with $18,475,002 outlayed and performance through 2032-01-27. Incremental obligations against the ceiling would be the key revenue catalyst, though the data does not confirm Blue Origin's public-company status.

Impulse Space received a $37,374,116 obligation under a $300,000,000 base-plus-options ceiling on a NASA Kennedy umbrella task order running through 2032-01-27, with only $239,116 outlayed. Future delivery orders would be the catalyst.

Peraton's CMS delivery order passes $47,173,091 (about 80% of its $58,992,766 obligation) to four subawardees, and its FBI BPA call order carries only $19,899,764 obligated against a $166,706,993 ceiling with $0 outlayed. Retained economics and option exercise are the uncertainties.

ECS Federal (ASGN parent) holds a $68,610,159 EPA desktop services delivery order with only $635,018 (about 0.9%) outlayed and end dates in 2016-2017, so its current status and ASGN revenue relevance are unverified.

Xpect Solutions' FBI NEMO delivery order has $88,626,141 obligated with $66,558,376 outlayed (about 75%) and a base-plus-options value of $187,037,859, under a small business set-aside that limits competition to protected firms.

PCI Aviation's GSA-placed USMC KC-130 maintenance contract is 8(a) sole-source with $19,732,548 obligated against a $20,301,379 ceiling and $14,873,780 (about 75%) outlayed, giving a policy-protected revenue stream through 2027-06-27, though renewal is not assured.

Bridgephase LLC's DHS HSIN modernization task order carries $14,310,001 obligated against a $19,919,300 ceiling, with $8,315,911 outlayed, on time-and-materials pricing under a total small business set-aside, and the recipient has no identified public parent.

Several large NASA and VA awards show near-zero outlays against large obligations, including MDM Construction ($0 outlayed on $13.8M), Billy W. Jarrett ($0 on $22.1M), Stonex ($0 on $32.8M with an eight-day window), and General Dynamics IT ($0 on $22.3M).

Heavy subaward pass-through reduces prime retained economics: SAIC's FHWA order ($41.8M of $76.6M across 13 subcontracts), Peraton's CMS order ($47.2M of $59.0M), and Billy W. Jarrett's VA project ($15.0M of $22.1M).

Several awards depend on option exercise or incremental funding for most of their potential value, including Blue Origin (about 2% of a $5B ceiling obligated), Arrow Science (0.72% of $5B), and Impulse Space (12.5% of $300M), and SAIC's FHWA order is partly funded incrementally.

Set-aside and 8(a) eligibility can change with size standards or program term, affecting PCI Aviation, Xpect Solutions, Burchick Construction, and others.

Incremental NASA launch-services delivery orders under the Kennedy VADR and umbrella vehicles, where Blue Origin, Impulse Space, and Arrow Science hold ceilings far above current obligations.

Small business and SDVOSB set-aside VA construction and IT work, including Ironclad Services ($22.4M), Billy W. Jarrett ($22.1M), and MDM Construction ($13.8M), reflects a protected pipeline for qualifying firms.

Caltech's multiple sole-source NASA JPL delivery orders (Mars SKYFALL $112.3M, Rosalind Franklin $95.1M, JUICE RIME $22.3M) show durable research relationships, though the recipient is non-investable.

Caltech dominates the top-tier NASA awards in this stream, with SKYFALL ($112.3M), Rosalind Franklin ($95.1M), and multiple sole-source JPL orders totaling several hundred million dollars.

VA awards span medical disability examinations ($93.2M), mental health renovation ($22.4M), CBOC construction ($22.1M), and EHRM infrastructure ($13.8M), with most recipients being small or veteran-owned firms.

IT operations, help desk, cybersecurity, and modernization awards are spread across DOJ, DOT, DHS, SSA, and HHS, with large primes (SAIC, Peraton, GDIT) and small set-aside firms (Xpect, FedTec, Bridgephase) both active.

{"entity" => "Peraton Inc. / Veritas Capital", "reason" => "Two sizable civilian orders (HHS/CMS $59.0M, FBI BPA $19.9M) with heavy subaward pass-through and a $166.7M FBI ceiling mostly unfunded.", "trigger" => "FBI option exercise and CMS option exercise decisions on the 2027 option periods"}

{"entity" => "Science Applications International Corp (SAIC)", "reason" => "FHWA infrastructure task order at $76.6M obligated with 55% subawarded and incremental funding through 10/31/2024, plus a 2021 EITSS award with 82 subawards exceeding prime value.", "trigger" => "Incremental funding modifications and any FHWA follow-on or extension"}

{"entity" => "Blue Origin, LLC and Impulse Space, Inc. (NASA launch sector)", "reason" => "Large NASA launch-services ceilings ($5.0B and $300M) with minimal obligation and outlay, making the revenue timing highly uncertain.", "trigger" => "Incremental delivery orders under VADR and the Kennedy umbrella vehicles through 2032"}

{"entity" => "ASGN Incorporated (ECS Federal)", "reason" => "EPA MDSS order shows only $635,018 outlayed on $68.6M obligated with 2016-2017 end dates, so current status is unverified.", "trigger" => "Confirmation of any EPA extension or follow-on recompete activity"}