All NASA Contracts — December 30, 2025

Contracts provide revenue through 2028, with $191M for Energia ISS hardware and $90M+ potential for U.S. firms in safety/facilities support.

A-P-T and NOVA win $37M+ obligations via set-asides/full competition, positioning for future NASA awards with up to $88M in options.

Fixed-price structures risk cost overruns for Energia and A-P-T; low outlays ($70M of $191M for Energia, $0.8M of $12.7M for NOVA) signal potential delays.

Heavy reliance on unexercised options ($147M total) caps near-term value at $229M obligations.

$147M in unexercised options across contracts, plus 2028 extensions for two awards.

Small/disadvantaged business wins signal rising NASA allocation to agile U.S. providers.

Energia's dominant $191M award underscores sustained international reliance on Russian hardware amid U.S. services ramp-up.

Set-asides deliver $37M to U.S. small firms for critical support, contrasting Energia's sole-source scale.

{"entity"=>"S P KOROLEV ROCKET AND SPACE PUBLIC CORPORATION ENERGIA", "reason"=>"83% of period value with $65M options and 2028 horizon", "trigger"=>"option exercises >$50M or outlays >$100M"}

{"entity"=>"A-P-T RESEARCH, INC.", "reason"=>"$41M options in safety services with small biz edge", "trigger"=>"extension beyond 2026 or new Kennedy awards"}

{"entity"=>"NOVA SPACE SOLUTIONS, LLC", "reason"=>"Early-stage $9M options in facilities; tribally-owned for set-asides", "trigger"=>"outlays >$5M or COSMIC follow-ons"}