DHS Homeland Security Contracts — June 23, 2026

Analogic Corp won a $138.3 million firm-fixed-price delivery order from the TSA for full-sized CT systems under full and open competition, with no set-aside, suggesting its technology is considered superior to peers in a contested market. The contract's 11-year performance period (through 2033) and potential $499.7M total value provide long-term revenue visibility.

The firm-fixed-price structure of the $138.3M Analogic Corp contract places cost overrun risk on the company; if manufacturing or installation costs exceed estimates, margins could compress. The contract's medium pricing risk rating reflects this.

The TSA's $138.3M order for full-sized CT systems indicates sustained budget allocation for advanced airport security technology, creating a growth runway for Analogic Corp and potentially other detection technology providers as the TSA exercises options over the 11-year period.

The TSA's award of a $138.3M CT system contract to Analogic Corp under full competition underscores a broader civilian agency push to upgrade airport screening infrastructure with advanced detection technology, a theme that may extend to other DHS components.

{"entity"=>"Analogic Corp", "reason"=>"The $138.3M TSA contract is a material win for Analogic Corp, representing a long-term revenue stream; any delays in option exercises or margin deterioration could impact valuation.", "trigger"=>"Quarterly earnings reports for revenue recognition updates; TSA budget announcements for FY2027"}