DHS Homeland Security Contracts — July 17, 2026

Leidos won a firm-fixed-price contract valued at $862.4 million (obligated) with options up to $1.01 billion for integrated logistics support of TSA security equipment, running through March 2025. This represents approximately 80% of total period value and signals strong competitive positioning in homeland security logistics.

A second Leidos award—$42.3 million firm-fixed-price delivery order for checkpoint ad-hoc deployment services—extends revenue visibility to May 2027, with $24.3 million already outlayed, indicating strong execution and cash flow.

Ekagra Partners, a self-certified disadvantaged small business, secured a $68.1 million delivery order (up to $99.7 million with options) for the FINCH fraud investigation system. While providing stable revenue through 2026-2027, the contract represents significant revenue concentration for a private entity with no public market implications unless acquired or IPO'd.

Cognosante CDS, a minority-owned subsidiary of Novetta Solutions, received a $60.1 million labor-hours delivery order for computer systems design and management support through 2026. Subawards of $66.2 million exceed the prime value, suggesting a pass-through model that may compress margins.

A $42.2 million contract modification for CoreCivic from DHS was recorded but lacks pricing, competition, or performance detail, limiting its investment signal strength. CoreCivic's exposure to detention services warrants monitoring for policy shifts.

Leidos' $862.4 million firm-fixed-price contract carries medium execution risk; cost overruns could compress margins on the largest award in this period.

TSA budget appropriations for equipment sustainment are critical for Leidos' $862.4M contract; a Continuing Resolution (CR) or budget cuts could delay option exercises or reduce scope.

Ekagra Partners' $68.1M contract represents a multi-year revenue concentration risk for a small business, with no public market exposure unless acquired or IPO'd.

Leidos' $862.4M contract faces recompetition risk as its end date approaches in March 2025, potentially opening the door for competitors like SAIC or CACI.

Leidos' combined $904.4 million in TSA awards positions it for follow-on work in checkpoint security and logistics, especially as TSA modernizes equipment under the NDAA-aligned 'Transportation Security Modernization Act' priorities.

DHS/USCIS fraud investigation IT systems (FINCH program) represent a stable niche for small businesses like Ekagra Partners, but the $68.1M award signals potential for larger primes to acquire such capabilities.

Cognosante CDS's $60.1M DHS IT contract, though subcontractor-heavy, indicates stable demand for systems integration services that could expand into defense agencies if Novetta Solutions leverages its parent company's defense relationships.

Two Leidos contracts totaling $904.4 million (84% of period value) demonstrate TSA's heavy reliance on private-sector logistics support for checkpoint security equipment, a stable, non-discretionary spending area.

Ekagra Partners' $68.1M USCIS fraud IT award and Cognosante CDS's $60.1M DHS IT contract highlight that small businesses can win large civilian IT contracts, but revenue concentration and subcontractor dependency are key risks.

{"entity"=>"Leidos, Inc.", "reason"=>"Dominates period with $904.4M in TSA awards; recompetition of $862.4M contract in March 2025 is a critical catalyst.", "trigger"=>"TSA solicitation announcement for recompetition of integrated logistics support contract"}

{"entity"=>"Transportation Security Administration (TSA)", "reason"=>"Budget appropriations for equipment sustainment directly impact Leidos' largest contract; any CR or cut could delay option exercises.", "trigger"=>"FY2025 DHS budget request or CR expiration in Q4 2024"}

{"entity"=>"Ekagra Partners, LLC", "reason"=>"Large small business award with concentration risk; potential acquisition target for larger primes seeking USCIS IT footprint.", "trigger"=>"Acquisition or IPO announcement"}

{"entity"=>"CoreCivic, Inc.", "reason"=>"Undetailed $42.2M DHS modification; any policy shift on detention services could materially affect future awards.", "trigger"=>"DHS immigration enforcement policy changes or new detention facility solicitations"}