Executive Summary
Iron Vine Security LLC secured a $64.4M obligated BPA call from Dept of State for IT security compliance, with $24.7M outlayed to date and potential to $85.5M via options. Neutral signal reflects steady revenue visibility offset by T&M pricing risks and partial outlay execution. Single contract underscores small business capture of federal cybersecurity spend amid long-duration commitments.
Tracking the trend? Catch up on the prior Federal IT & Cybersecurity Contracts digest from January 01, 2026.
Investment Signals(2)
- $21M Unexercised Options Available(MEDIUM)▲
Contract includes unexercised options lifting ceiling to $85.5M total, plus potential 1-year extension to 2027-09-30.
- Low Outlay Execution Rate(HIGH)▲
Only 38% ($24.7M of $64.4M) outlayed, signaling potential revenue shortfall if options lapse or tasks slow.
Risk Flags(1)
- Execution[MEDIUM RISK]▼
Time & materials structure ties revenue to Dept of State-approved hours; long period to 2026-09-29 (potentially 2027) vulnerable to funding cuts or task variability.
Opportunities(1)
- ◆
Small business set-aside under NAICS 541519 positions for follow-on IT security compliance contracts post-2027.
Sector Themes(1)
- ◆
Dept of State allocates major BPA calls ($64.4M+) to small firms like Iron Vine for compliance services under SAP competition.
Watch List(1)
- 👁
{"entity"=>"IRON VINE SECURITY LLC", "reason"=>"$64.4M obligation with $21M options upside amid 38% outlay execution.", "trigger"=>"outlay acceleration >50% or option exercises"}
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