Executive Summary
Iron Vine Security LLC holds a $64.4M obligated BPA call from Dept of State for IT security compliance, with $24.7M (38%) outlayed and potential $85.5M total via options. Provides revenue visibility through 2026 (possible 2027 extension) as small business set-aside. Neutral signal balances steady cash flow against execution risks from T&M structure and unexercised options.
Tracking the trend? Catch up on the prior General Federal Contracts digest from January 01, 2026.
Investment Signals(2)
- $21M Unexercised Options in State Dept BPA(MEDIUM)▲
Contract base + options reach $85.5M with potential 1-year extension to 2027-09-30.
- 38% Outlay Utilization Rate(HIGH)▲
$24.7M outlayed vs $64.4M obligated signals potential revenue gap if options lapse.
Risk Flags(2)
- Execution[HIGH RISK]▼
T&M pricing ties revenue to Dept of State-approved hours and task orders.
- Regulatory[MEDIUM RISK]▼
Long tenure to 2026-09-29 (poss. 2027) vulnerable to federal funding shifts.
Opportunities(2)
- ◆
$21M options + 2027 extension potential boosts ceiling to $85.5M.
- ◆
Small business set-aside success in NAICS 541519 positions for follow-ons.
Sector Themes(1)
- ◆
DoS allocates $64M+ via SAP-competed BPA for compliance services to small firms.
Watch List(1)
- 👁
{"entity"=>"IRON VINE SECURITY LLC", "reason"=>"Dominates period with $64.4M obligation; $21M upside vs execution hurdles.", "trigger"=>"outlay >50% or option awards"}
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