Federal IT & Cybersecurity Contracts — August 28, 2026

IBM's $580.4 million cost-plus-award-fee delivery order from FEMA has a total outlayed amount of -$23,548, indicating minimal or no actual spending to date, which may signal contract termination or delayed funding.

Peraton's $80.9 million time-and-materials delivery order from CMS for Medicare Part B claims processing exposes the company to cost variability and potential margin pressure, with no direct public equity impact due to private equity ownership.

IBM's $580.4 million FEMA contract shows a negative outlay of -$23,548, suggesting potential contract termination or inactive status, which could indicate execution or funding issues.

Peraton's $80.9 million CMS contract for Medicare Part B claims processing faces long-term uncertainty due to policy pressures on healthcare costs and potential modernization initiatives that could replace the MCS system.

Both contracts are civilian, with no defense exposure, indicating a concentrated civilian IT theme that may underperform if defense spending accelerates.

Peraton's $80.9 million CMS contract for Medicare Part B claims processing provides stable near-term revenue through 2027, with potential for option exercises to increase total value.

IBM's $580.4 million FEMA contract, if reactivated or modified, could signal renewed investment in emergency management IT, but current negative outlay limits near-term upside.

Both contracts focus on custom computer programming for critical civilian functions—FEMA's EADIS software and CMS's Medicare claims processing—indicating sustained but cautious investment in legacy IT infrastructure.

{"entity" => "IBM", "reason" => "IBM's $580.4 million FEMA contract has a negative outlay, raising questions about contract status and revenue contribution.", "trigger" => "Contract modification announcement or federal revenue report"}

{"entity" => "Peraton Inc.", "reason" => "Peraton's $80.9 million CMS contract faces modernization risk and cost variability under time-and-materials pricing.", "trigger" => "CMS modernization initiative announcement or option exercise decision"}