National Geospatial-Intelligence Agency Selects NV5 for Geospatial Contract Valued Up to $290 Million

Rhea-AI Summary

NV5 Global, Inc. (Nasdaq: NVEE) has been awarded a prime contract with the National Geospatial-Intelligence Agency (NGA) under the Luno A program. The $290 million contract is a five-year, multiple-award indefinite delivery, indefinite quantity agreement to provide unclassified commercial geospatial intelligence (GEOINT)-derived computer vision and analytic services.

The contract aims to monitor global economic and environmental activity, as well as military capabilities, leveraging commercial computer vision and artificial intelligence capabilities. It will integrate into analytic workflows for the national security community's operational use. NV5 anticipates receiving approximately $30 million in revenue over the contract term.

Dickerson Wright, PE, Executive Chairman of NV5, expressed pleasure in being selected to support the national intelligence community through GEOINT-derived analytics, highlighting NV5's 20-year history of supporting NGA's mission.

Positive

• Awarded $290 million contract with National Geospatial-Intelligence Agency
• Five-year contract term
• Expected to generate $30 million in revenue for NV5
• Expands relationship with NGA, building on 20-year history
• Leverages commercial computer vision and AI capabilities

Negative

• None.

HOLLYWOOD, Fla., Sept. 24, 2024 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, certification, and consulting solutions, announced today that it has been awarded a prime contract with the National Geospatial-Intelligence Agency (NGA) to provide unclassified commercial geospatial intelligence (GEOINT)-derived computer vision and analytic services under the Luno A program.

“We are pleased to have been selected by NGA to support the national intelligence community through GEOINT-derived analytics,” said Dickerson Wright, PE, Executive Chairman of NV5. “NV5 has built a reputation supporting NGA’s mission for over 20 years, and we look forward to expanding our relationship with NGA and the value we deliver to the agency through the Luno A program.”

The $290 million contract is a five-year, multiple-award indefinite delivery, indefinite quantity contract to monitor global economic and environmental activity, as well as military capabilities. The contract will leverage commercial computer vision and artificial intelligence capabilities and will integrate into analytic workflows for the national security community’s operational use. NV5 anticipates that it will receive approximately $30 million in revenue over the term of the Luno A contract.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and internationally. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.

Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

FAQ

What is the value of the contract NV5 (NVEE) was awarded by the National Geospatial-Intelligence Agency?

NV5 (NVEE) was awarded a contract valued up to $290 million by the National Geospatial-Intelligence Agency.

How much revenue does NV5 (NVEE) expect to generate from the Luno A contract?

NV5 (NVEE) anticipates receiving approximately $30 million in revenue over the term of the Luno A contract.

What services will NV5 (NVEE) provide under the Luno A program?

NV5 (NVEE) will provide unclassified commercial geospatial intelligence (GEOINT)-derived computer vision and analytic services under the Luno A program.

What is the duration of the contract awarded to NV5 (NVEE) by the National Geospatial-Intelligence Agency?

The contract awarded to NV5 (NVEE) by the National Geospatial-Intelligence Agency is a five-year, multiple-award indefinite delivery, indefinite quantity contract.