Federal IT & Cybersecurity Contracts — March 21, 2026

Combined $565.9M obligations with $268.5M outlayed (48% realized) across NIH and DOL provide multi-year cash flow through 2026.

Buchanan & Edwards wins $97M full-options-exercised DOL contract without set-asides, demonstrating competitive strength.

Extended performance to 2025-2026 exposes to budget shifts, with $231M (49%) Deloitte subawards and $7.9M (8%) Buchanan subawards risking prime margins.

Fixed-price redetermination (Deloitte) and T&M (Buchanan) pricing vulnerable to cost overruns in IT integration/hosting.

$297M remaining obligations ($285M Deloitte, $12M Buchanan) plus exercised options signal near-term revenue acceleration.

NIH/DOL IT needs in systems integration and data center management position for follow-ons post-2025/2026.

Large, long-duration awards to NIH/DOL underscore priority on systems design/hosting despite high subawards.

Deloitte's scale ($468M) contrasts Buchanan's minority-owned agility ($97M), both via open competition.

{"entity"=>"Deloitte NIH Contract", "reason"=>"$468M award with 2025 end-date and high subawards requires renewal tracking.", "trigger"=>"Option exercise or RFP issuance pre-Oct 2025"}

{"entity"=>"Buchanan & Edwards DOL Contract", "reason"=>"$97M near full outlay with 2026 end offers follow-on potential.", "trigger"=>"Outlay completion or budget realignments"}

{"entity"=>"Federal IT Subawards", "reason"=>"$239M total (42% of obligations) across 83 recipients flags margin pressure.", "trigger"=>"Subaward spend acceleration"}