New Federal Contractors — May 21, 2026

Leidos Holdings subsidiary won a $432.5 million cost-plus-fixed-fee delivery order from NIH to operate a government-owned R&D facility through May 2026, providing a stable, low-risk revenue stream of ~$64.6M annually, though only $1.15M has been outlayed to date.

Peraton, a Veritas Capital portfolio company, secured a $95.1 million time-and-materials delivery order from CMS for custom fraud prevention IT services, with options up to $118.7M through June 2027, signaling recurring revenue in a politically supported, high-budget area.

General Dynamics Information Technology secured a $70.6 million initial obligation on a $1.25 billion ceiling cost-plus-award-fee delivery order from GSA for enterprise IT management support services through 2033, providing a long-term revenue pipeline of $168-209M annually if fully exercised.

SOFTRAMS LLC's $80.7 million firm-fixed-price HUBZone set-aside CMS IT contract expires August 3, 2024, with no options, creating a potential revenue cliff for this small business despite strong 65% execution rate.

Leidos Biomedical Research's $432.5M NIH contract has only $1.15M outlayed (0.3% of total), indicating early-stage execution risk; slow outlay could signal scope delays or funding constraints.

Four of five contracts (91% of total value) are from HHS agencies (NIH, CMS, BARDA), creating sector concentration risk for investors tracking civilian government exposure.

SOFTRAMS LLC's $80.7M CMS contract expires August 2024 with no options; recompetition risk is high as a HUBZone set-aside may not be renewed under full-and-open competition.

Chimerix, Inc.'s $77.1M BARDA contract from 2011 had only $52,775 outlayed over 10.5 years, suggesting government funding for biotech R&D can be highly uncertain despite large contract ceilings.

Peraton Inc.'s $95.1M CMS Fraud Prevention System 2 contract positions the company for follow-on work as healthcare fraud prevention remains a bipartisan priority; options up to $118.7M provide near-term upside.

General Dynamics IT's $1.25B EMITS 2 ceiling from GSA offers a long-term revenue pipeline through 2033; current $70.6M obligation is only 5.6% of ceiling, leaving significant upside from option exercises.

SOFTRAMS LLC's $80.7M HUBZone set-aside contract demonstrates CMS's commitment to small business diversity; if renewed, it could provide a stable base for the company's growth, though recompetition risk is high.

Two contracts totaling $175.7 million (Peraton's $95.1M FPS2 and SOFTRAMS's $80.7M IT O&M) from CMS underscore sustained federal investment in healthcare IT modernization and fraud detection, a politically durable spending area.

Leidos Biomedical Research's $432.5M NIH GOCO contract highlights the government's reliance on contractor-operated R&D facilities, providing multi-year, low-margin but stable revenue for large primes like Leidos Holdings.

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{"entity"=>"Leidos Holdings, Inc.", "reason"=>"Only $1.15M outlayed on $432.5M NIH contract; slow execution could signal delays or scope changes affecting revenue recognition.", "trigger"=>"Quarterly outlay rate updates and contract modification announcements"}

{"entity"=>"General Dynamics Information Technology", "reason"=>"EMITS 2 contract has $1.25B ceiling but only $70.6M obligated; option exercise pace will determine actual revenue contribution.", "trigger"=>"GSA option exercise announcements and incremental funding obligations"}

{"entity"=>"Peraton Inc.", "reason"=>"CMS Fraud Prevention System 2 contract options up to $118.7M; exercise decisions signal customer satisfaction and future revenue.", "trigger"=>"Option exercise announcements through June 2027"}