SAIC Receives $170M NASA Contract to Provide Systems and Software Assurance Services

Rhea-AI Summary

Science Applications International Corp. (NYSE: SAIC) has secured a $170 million contract from NASA for independent verification and validation (IV&V) services related to space systems and software. This five-year Systems and Software Assurance Services 2 (SAS2) contract will support NASA's human space exploration and various Earth and planetary science missions.

SAIC’s expertise is crucial for the success of key missions like the Perseverance Mars Rover and the Artemis Program. The contract encompasses Software Systems IV&V, Safety & Mission Assurance, and Software Assurance services.

Positive

• Secured a $170 million contract with NASA for IV&V services.
• Expected to support critical NASA missions, enhancing SAIC's reputation.
• Five-year duration ensures stable revenue stream.

Negative

• None.

Company will provide specialized systems and software engineering services for major NASA programs

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) has been awarded a $170 million contract by the National Aeronautics and Space Administration (NASA) to continue performing independent verification and validation (IV&V) of space systems and software. This Systems and Software Assurance Services 2 (SAS2) contract will support all of NASA’s current human space exploration programs as well as numerous Earth science and planetary science missions.

“The SAS2 contract enables SAIC to continue providing critical engineering expertise to NASA,” said Michael LaRouche, president National Security and Space sector at SAIC. “When missions such as the Perseverance Mars Rover or the Artemis Program take flight, SAIC performs critical system and software verification and validation that helps to ensure mission success.”

Under the five-year contract, SAIC will deliver services including Software Systems IV&V, Safety & Mission Assurance, Software Assurance and Mission Protection services.

For more information on SAIC’s work with NASA visit www.saic.com/space.

About SAIC

SAIC^® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.

We are approximately 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220927005130/en/

Thais Hanson

703.676.8215 | publicrelations@saic.com

Source: Science Applications International Corp.

FAQ

What is the significance of the $170 million contract awarded to SAIC by NASA?

The contract allows SAIC to provide specialized IV&V services vital for NASA's current exploration missions.

How long is the SAS2 contract that SAIC received from NASA?

The SAS2 contract is a five-year agreement.

What types of services will SAIC provide under the NASA contract?

SAIC will deliver Software Systems IV&V, Safety & Mission Assurance, and Software Assurance services.

Which NASA missions will benefit from SAIC's work?

SAIC's work will support NASA's human space exploration programs, including the Perseverance Mars Rover and the Artemis Program.

How does the new contract impact SAIC's market position?

The contract enhances SAIC's position as a key player in the aerospace sector and provides a steady revenue stream.