High-Value Federal Grants ($5M+) — March 29, 2026

Carahsoft ($465M, 72% outlayed) and Leidos ($234M, 67% outlayed) secure multi-year HHS deals to 2028-2029, fully or heavily obligated.

IDEIMIA ($204M to 2027) and NISA ($84M to 2027 potential) provide decade-long federal revenue visibility via non-competed and competitive awards.

Family Endeavors fully outlays $347M DOI contract, with $3.3B options (10x obligation) through 2025.

Firm fixed price on 60% of value (Carahsoft, IDEMIA, NISA) risks margin compression if costs rise.

$0 outlay on IDEMIA despite 7-year tenure signals potential delays.

Options comprise 70%+ of potential value (e.g., Family 98%, Carahsoft 77%) and remain unexercised.

$3.3B options on Family Endeavors DOI facility services could 10x current obligation by 2025.

Carahsoft $1.6B options and $128M remaining outlays in CMS software services to 2028.

HHS R&D stability through 2029 for Leidos ($77M remaining) positions in post-COVID health research.

52% of obligated value to HHS (Carahsoft, Leidos) via software publishing and R&D, with 70% average outlays.

All contracts span 2-10 years (avg. end 2027+), emphasizing stability in facilities, security, and investment mgmt.

{"entity"=>"Carahsoft Technology Corp options", "reason"=>"$1.6B unexercised potential represents 77% of max value in growing CMS software market.", "trigger"=>"option exercise or outlay >$400M"}

{"entity"=>"Family Endeavors Inc", "reason"=>"Neutral nonprofit with highest option leverage (10x) in volatile ORR facilities.", "trigger"=>"extension to 2025-11 or new influx funding"}

{"entity"=>"IDEIMIA outlays", "reason"=>"$0 spent on $204M State contract signals execution risk despite long tenure.", "trigger"=>"first outlays or modifications"}