This is a routine option-year exercise on an existing contract, not a new competitive win. The $875M award provides incremental backlog visibility but is unlikely to drive material upside to estimates. Monitor for future option-year exercises and any contract recompete announcements, which would be more impactful.
Price Chart
Executive Summary
Leidos received an $875 million award for the second option year of the Next Generation Enterprise Network (NGEN) Service Management, Integration and Transport (SMIT) contract with the U.S. Navy. The contract supports over 650,000 personnel and 425,000 devices globally, reinforcing Leidos's role in digital modernization and cybersecurity for the Department of Defense. This is a material contract renewal that provides revenue visibility but is an expected option exercise, not a new win, limiting its incremental impact.
Key Financial Metrics
Key Facts
- Leidos awarded $875 million for the second option year of the NGEN SMIT contract.
- Contract supports 650,000 Navy and Marine Corps personnel and 425,000 devices at 2,500+ sites.
- Leidos has been on this contract since 2020; the option year is an expected renewal.
- Award aligns with Leidos' NorthStar 2030 strategy focusing on digital modernization and cyber.
- Leidos reported annual revenues of approximately $17.2 billion for FY ended Jan 2, 2026.
Financial Impact
$875 million contract option year award, representing approximately 5.1% of Leidos' $17.2B annual revenue.
Risk Factors
- Option year awards are subject to government funding and could be modified or terminated.
- Contract performance risks include cybersecurity threats and operational disruptions.
- Future recompete of the NGEN SMIT contract could introduce competitive pressure.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302878038 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 17d ago | Press Release | $129.24 $123.31 | ▼ −4.59% | ▼ −6.72% | $119.07 (−7.87%) |
Sep 9, 2026 23d ago | GOVT-CONTRACT | $128.14 $129.35 | ▲ +0.94% | ▲ +1.60% | $119.07 (−7.08%) |
Aug 31, 2026 4w ago | GOVT-CONTRACT | $140.21 $129.24 | ▼ −7.82% | ▼ −7.68% | $119.07 (−15.08%) |
Aug 31, 2026 4w ago | GOVT-CONTRACT | $140.21 $129.24 | ▼ −7.82% | ▼ −7.68% | $119.07 (−15.08%) |
Aug 31, 2026 4w ago | GOVT-CONTRACT | $140.21 $129.24 | ▼ −7.82% | ▼ −7.68% | $119.07 (−15.08%) |
Aug 25, 2026 5w ago | Press Release | $134.54 $139.18 | ▲ +3.45% | ▲ +3.99% | $119.07 (−11.50%) |
Aug 12, 2026 7w ago | Institutional Cluster | $140.38 $146.31 | ▲ +4.22% | ▲ +4.67% | $119.07 (−15.18%) |
Aug 11, 2026 7w ago | 144 | $140.66 $143.37 | ▲ +1.93% | ▲ +2.33% | $119.07 (−15.35%) |
Aug 3, 2026 8w ago | Press Release | $118.72 $139.10 | ▲ +17.17% | ▲ +15.14% | $119.07 (+0.29%) |
Aug 3, 2026 8w ago | GOVT-CONTRACT | $118.72 $139.10 | ▲ +17.17% | ▲ +15.14% | $119.07 (+0.29%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access