Executive Summary
This digest covers a single NASA delivery order to the California Institute of Technology (Caltech) valued at $36,802,451 for MEASURES Earth System Data Records, a cost-plus-fixed-fee, not-competed award running from October 2018 through September 2028.
The award is entirely civilian (0 of 1 defense-related), executed through NASA's Jet Propulsion Laboratory (JPL) management office, and carries a low materiality score (1/10) and neutral signal strength (2/10). Approximately $30.1 million (82%) has already been outlayed, leaving roughly $6.7 million unspent, which limits incremental revenue visibility. The highest-conviction takeaway is the absence of direct public-equity exposure: Caltech is a nonprofit, tax-exempt institution, so the primary investment relevance is indirect—through potential subcontracting to publicly traded aerospace and data-services firms. The key watch item is whether option exercises or modifications extend the $36.8 million obligation or the 2028 end date, and whether any subcontract awards create a tangible equity link.
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Tracking the trend? Catch up on the prior NASA & Space Contracts Intelligence digest from October 22, 2026.
Investment Signals (2)
- Caltech's $36.8M NASA Earth Science Delivery Order Nears Completion with ~$6.7M Remaining (LOW)▲
The $36,802,451 cost-plus-fixed-fee delivery order to Caltech for MEASURES Earth System Data Records has $30,116,974 outlayed (about 82%), leaving roughly $6.7 million unspent through the September 24, 2028 end date. Any option exercise or modification could add obligation, but the remaining balance is small relative to the total.
- No Direct Public-Equity Exposure from $36.8M Caltech Award (HIGH)▲
Caltech is a nonprofit, tax-exempt higher education institution with no public equity listing indicated in the data, so this $36,802,451 NASA award offers no direct investable link. Any equity relevance would come only from undisclosed subcontracts to publicly traded firms.
Risk Flags (1)
- Budget [LOW RISK]▼
The award is a cost-plus-fixed-fee, not-competed delivery order under NASA's JPL management office with a performance period through 2028-09-24. With about 82% already outlayed, future funding is limited to the remaining ~$6.7 million unless modified, and NASA science budget priorities could affect any extension.
Opportunities (1)
- ◆
The multi-year NASA R&D commitment through 2028 under PSC AR22 (space science applied research) and NAICS 541715 suggests a sustained Earth system science funding line, which could benefit publicly traded subcontractors providing data services, sensors, or analytics to Caltech/JPL if awards are disclosed.
Sector Themes (1)
- ◆
The $36,802,451 Caltech delivery order for MEASURES Earth System Data Records, running 2018-10-01 to 2028-09-24 under PSC AR22, indicates a sustained NASA science funding line for Earth system data development.
Watch List (1)
- 👁
{"entity" => "California Institute of Technology / NASA JPL", "reason" => "Sole award in this digest: $36,802,451 cost-plus-fixed-fee delivery order with ~$6.7 million remaining and a 2028-09-24 end date.", "trigger" => "Option exercise or modification changing the total obligation or end date; disclosure of subcontract awards to publicly traded firms"}
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