# Parsons Expands Federal Contract Backlog

Parsons reported $1.8 billion in Q3 2026 net bookings, a 1.1x book-to-bill ratio, and record backlogs of $9.4 billion total and $6.8 billion funded. Year-to-date awards reached approximately $5.75 billion, while $7.6 billion in remaining performance obligations included $4.04 billion expected to be performed within one year. Federal activity included a $750 million U.S. Cyber Command OTA ceiling, a $514 million MDA TEAMS-NEXT option period, and a $495 million national-security communications contract. These are awarded or existing contract actions, not open solicitations; Parsons also cited protest-related timing and government funding as risks to execution.

- Parsons’ 26 OTAs have a combined ceiling of $1.6 billion, with the company pursuing about $2 billion in additional OTA opportunities. The portfolio indicates continued demand in cyber, missile defense, space, electronic warfare, and related engineering, but ceiling values should not be treated as guaranteed revenue.
- Contractors can assess whether their capabilities support Parsons-led work in cybersecurity, communications, missile defense, and space, and distinguish subcontracting or teaming prospects from open competitions.
- Procurement and delivery planning should account for protest periods, funding uncertainty, and Parsons’ increased fixed-price exposure, which may affect award timing and execution risk.

**Jurisdictions:** federal
**Industries:** Defense & Military, Information Technology
**Topics:** Cybersecurity, Contracting Vehicles
**Published:** October 30, 2026

### Government Entities
- U.S. Cyber Command (USCYBERCOM)
- Missile Defense Agency (MDA)
- U.S. Space Command (USSPACECOM)

### Vendors
- Parsons Corporation (prime contractor)

### Sources
- [Parsons (PSN) Stock Faces A Q3 Earnings Valuation Reality Check - Simply Wall St News](https://simplywall.st/stocks/us/commercial-services/nyse-psn/parsons/news/parsons-psn-stock-faces-a-q3-earnings-valuation-reality-chec) - Simply Wall St
- [Parsons Q3 2026 earnings: net income falls to $54.2M | PSN Quarterly Report (10-Q)](https://www.stocktitan.net/sec-filings/PSN/10-q-parsons-corp-quarterly-earnings-report-462efed4ae8f.html) - Stock Titan
- [Parsons Reports 53% Rise in Q3 Federal Solutions Awards](https://www.govconwire.com/articles/parsons-q3-2026-federal-solutions-awards-carey-smith) - GovCon Wire