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Federal IT services contractors are navigating a contract-award cycle running behind revenue consumption, and Science Applications International Corporation (NASDAQ: SAIC) put a number on the gap this quarter.
The company reported second-quarter fiscal 2027 revenue of $1.88 billion, up 6.3% year over year, while net bookings of approximately $1.2 billion produced a quarterly book-to-bill ratio of 0.6.
The backlog stood at approximately $22.1 billion at period end, down from $22.6 billion six months earlier.
Of that total, only $3.8 billion was funded; the remaining $18.3 billion consisted of negotiated unfunded backlog, covering future revenue under contracts that have not received appropriations and unexercised priced options.
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