High-Value Federal Grants ($5M+) — May 21, 2026

Leidos Holdings subsidiary wins a cost-plus-fixed-fee delivery order to operate an NIH R&D facility through May 2026, providing a stable $64.6M annual revenue stream with low pricing risk.

Peraton Inc. secures a time-and-materials delivery order for custom software to combat healthcare fraud, with options up to $118.7M, offering ~$23.8M annual revenue in a politically supported area.

GDIT receives a cost-plus-award-fee delivery order with $70.6M initial obligation and options through 2033, positioning it for $168-209M annual revenue in enterprise IT support services.

SOFTRAMS LLC's firm-fixed-price HUBZone set-aside contract with CMS ends in August 2024 with no options, threatening $16.1M annual revenue stream for the small business.

Leidos Biomedical's $432.5M NIH contract has only $1.15M outlayed (0.3% of total), indicating early-stage execution risk and potential delays in scope ramp-up.

Chimerix, Inc.'s $77.1M BARDA contract from 2011 is effectively dead with only $52,775 outlayed, representing a historical ghost contract with no current revenue impact but signaling potential overstatement of backlog.

SOFTRAMS LLC's $80.7M CMS contract is a HUBZone set-aside expiring August 2024 with no options, exposing the small business to full recompetition risk without protected status.

Peraton's $95.1M CMS Fraud Prevention System 2 contract is time-and-materials, exposing Veritas Capital to cost overrun risk if labor rates or scope escalate unexpectedly.

Leidos Biomedical's NIH GOCO contract provides a multi-year, cost-plus revenue base that can be expanded through scope modifications or option exercises, given NIH's consistent R&D funding.

General Dynamics IT's EMITS 2 contract has a $1.25B ceiling with only $70.6M obligated, offering significant upside as GSA exercises options through 2033, potentially adding $168-209M annual revenue.

SOFTRAMS LLC's HUBZone set-aside status on its $80.7M CMS contract positions it favorably for follow-on awards, as CMS prioritizes small business participation in IT operations.

Two contracts (Peraton FPS2 at $95.1M and GDIT EMITS 2 at $70.6M) highlight sustained federal investment in custom software and IT management support services, particularly for CMS fraud prevention and GSA enterprise IT.

Leidos Biomedical's $432.5M NIH contract underscores the government's reliance on contractor-operated R&D facilities, a stable niche with low competition risk and consistent funding.

SOFTRAMS LLC's expiring HUBZone contract highlights the risk of revenue cliffs for small businesses reliant on set-aside awards, as recompetition may attract larger incumbents.

{"entity"=>"Leidos Holdings, Inc.", "reason"=>"Only $1.15M of $432.5M NIH contract outlayed; execution pace is critical for revenue recognition.", "trigger"=>"Quarterly outlay rate acceleration or contract modification announcements"}

{"entity"=>"SOFTRAMS LLC", "reason"=>"$80.7M CMS contract expires August 2024 with no options; recompetition outcome is binary.", "trigger"=>"CMS solicitation for follow-on contract or expiration date"}

{"entity"=>"General Dynamics Information Technology", "reason"=>"EMITS 2 has $1.25B ceiling but only $70.6M obligated; option exercises drive long-term revenue.", "trigger"=>"GSA option exercise announcements or incremental funding obligations"}

{"entity"=>"Peraton Inc. / Veritas Capital", "reason"=>"FPS2 contract has options up to $118.7M; time-and-materials pricing introduces cost risk.", "trigger"=>"CMS budget allocations for fraud prevention and Peraton margin reports"}