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Peraton

Peraton is an American company headquartered in , that specializes in delivering advanced information technology solutions, cybersecurity, and mission support services primarily to U.S. government agencies and allied entities. Originating as a 2017 spinoff from Technologies, Peraton has grown rapidly through , incorporating a heritage of over 125 years from predecessor firms in defense and IT sectors. In 2021, the company expanded sevenfold by acquiring Perspecta—a combination of Northrop Grumman's federal IT business and DXC Technology's U.S. public sector unit—for approximately $7.1 billion, enhancing its capabilities in enterprise IT, intelligence analysis, and space systems. Peraton supports critical missions across defense, civilian, and health domains, employing over 3,000 veterans and focusing on transformational technologies for platforms in air, land, sea, and nuclear systems. As a privately held entity backed by , it ranks among the largest private companies in the Greater area by revenue and has been recognized for workplace quality amid ongoing involvement in federal contract competitions and related disputes.

Corporate Overview

Founding and Rebranding

In April 2017, acquired the government information technology services division of for approximately $1.9 billion. This divestiture separated the unit from Harris, which sought to focus on its core communications and electronics businesses. The acquired entity, initially operating without a permanent name, specialized in missions including , , cyber, defense, , and communications. On July 28, 2017, the company announced its new name, Peraton, derived from the Latin "per-" meaning "thoroughly" combined with "imperative," symbolizing the critical nature of its work. This marked the formal founding of Peraton as an independent, next-generation company backed by . The name change aimed to unify previously disaggregated businesses under a single identity focused on high-consequence missions. The process included developing a new brand identity to reflect the company's evolution from its Harris origins while emphasizing and mission-critical capabilities. No subsequent major rebrandings have occurred, with Peraton retaining its name through later acquisitions such as the 2021 merger with Perspecta.

Leadership and Organizational Structure

Steve Schorer serves as Peraton's Chairman, President, and Chief Executive Officer, having assumed the role on September 9, 2024. With over 30 years of experience in government contracting and technology services, Schorer previously held executive positions at companies including and , focusing on missions. Key corporate executives include Ken Sharp as Chief Financial Officer, responsible for financial strategy and operations; Jim Winner as Chief Legal Officer and , overseeing legal affairs and compliance; and Rebecca McHale as , managing talent and workforce development. Additional senior roles encompass Tom Terjesen as Senior Vice President and , leading IT infrastructure modernization efforts such as migrating 98% of workloads to GovCloud by 2024; and Todd Borkey as , directing portfolio. In August 2025, Ravi Dankanikote was appointed Chief Growth Officer to spearhead and enterprise growth strategies. Peraton's organizational structure emphasizes a matrix of corporate functions and mission-focused business sectors, enabling integrated delivery of services across national security domains. Following the 2021 acquisition of Northrop Grumman's IT services division, the company reorganized into four primary sectors: Space and Intelligence led by Roger Mason, Cyber Mission under Tom Afferton, Global Defense and Security headed by John Coleman, and Civil and Health directed by Tarik Reyes. This structure incorporated subsequent integrations from the Perspecta merger, expanding to nine business units by mid-2021. By 2024, Peraton referenced operations across five business sectors, housing sector leadership alongside corporate executives at its Reston, Virginia headquarters to foster collaboration on federal contracts. Sector presidents report to the CEO, supporting specialized capabilities in areas like cybersecurity, space systems, and health IT while aligning with overall corporate strategy under private equity ownership by Veritas Capital.

Scale, Workforce, and Global Presence

Peraton employs more than 18,000 personnel worldwide, with approximately 7,000 based in the region. This workforce supports the company's focus on missions, drawing heavily from experienced professionals in , contracting, and sectors. The company's scale is reflected in its projected annual revenue exceeding $8 billion for , driven by integration of assets and growth in defense-related sales. Earlier figures indicate $7 billion in revenue as of 2021, underscoring steady expansion in contracting. Peraton ranks among the top private companies in the Greater area by revenue, highlighting its economic footprint in the and IT services sectors. Peraton maintains a primarily U.S.-centric presence, operating 72 facilities across 27 states and , with headquarters in . Its sole international office is located in , , enabling limited overseas support for allied missions, though the majority of operations remain domestic to align with U.S. priorities. This network totals around 73 , facilitating proximity to key government clients and infrastructure.

Historical Development

Pre-Peraton Heritage and Origins

The origins of Peraton trace directly to the of , a diversified technology and communications firm that provided , cybersecurity, and mission support services to U.S. agencies, including and sectors. This division handled contracts for secure communications, , and electronic systems, building on Harris's longstanding expertise in tactical radios, systems, and data networks for applications. In February 2017, Fund Management, L.L.C., acquired the unit from Harris for approximately $690 million (as later referenced in subsequent transactions), marking the separation from Harris's broader portfolio focused on commercial and non-IT operations. Harris Corporation itself originated in 1895 as the Harris Automatic Press Company, founded by Alfred S. Harris in , initially specializing in lithographic presses and related machinery for the publishing industry. Over the subsequent decades, the company diversified beyond into and semiconductors during the post-World War II era, developing equipment for integrated circuits and entering the sector with components and systems by the . By the , Harris expanded into communications and , acquiring firms like Radiation Incorporated in 1967 to bolster capabilities in RF and government-grade secure networks, which laid the groundwork for the IT services that characterized its Government Services division. This evolution positioned Harris's Government Services as a key provider of mission-critical technologies, including broadband communications for operations and early cybersecurity solutions, with roots in contracts dating back over 50 years for U.S. Army and other federal entities. The division employed thousands in roles supporting high-stakes environments, emphasizing reliability in contested domains like and , prior to the 2017 divestiture that preserved this legacy under new independent ownership. Peraton's claimed 125-year thus stems from Harris's foundational innovations, transitioning from industrial printing to advanced IT without interruption in core technical lineages.

Formation as Peraton (2017–2019)

In early 2017, acquired the Government Services business of , which was subsequently reorganized and operated independently as a portfolio company focused on solutions. This transaction, valued at approximately $690 million, separated the unit from Harris's broader portfolio to enable specialized growth in high-stakes domains. On July 28, 2017, the company announced its rebranding as Peraton, a name derived from the Latin prefix "per" (meaning thoroughly) combined with elements evoking "imperative," symbolizing comprehensive execution of critical missions. Under CEO Stu Shea, Peraton consolidated previously disaggregated business lines from Harris, establishing operations in , with a workforce delivering services in space systems, , and , , , and communications to U.S. government agencies and armed forces. During its formative years, Peraton emphasized integrating these capabilities to address national security challenges, laying groundwork for innovation in mission-critical technologies. In June 2019, Peraton expanded its portfolio by announcing the acquisition of Solers, Inc., a provider of software development, systems integration, cloud services, and satellite ground systems for space situational awareness and resiliency. The deal, completed later that year for undisclosed terms, enhanced Peraton's space protection offerings and supported objectives in orbital operations and mission assurance.

Growth and Key Milestones (2020–2025)

In December 2020, Peraton announced its agreement to acquire Northrop Grumman's federal IT and mission support services business for $3.4 billion in cash, marking a significant expansion in its capabilities for and civilian missions. The deal closed on February 1, 2021, integrating approximately 10,000 employees and adding expertise in areas such as , and enterprise IT services, which bolstered Peraton's scale as a . This acquisition followed Peraton's original formation from a and positioned the company for broader national security engagements. Further accelerating growth, Peraton completed the acquisition of on May 6, , in a valued at approximately $7.1 billion including , combining Peraton's and strengths with Perspecta's IT modernization and cybersecurity portfolio. The combined entity reported annual revenues of about $7 billion, a exceeding $24 billion, and roughly 18,000 employees, enabling Peraton to compete for larger enterprise-level contracts in federal IT and support. These deals represented a sevenfold increase in company size from pre-acquisition levels, driven by private equity backing from , though integration challenges were noted in subsequent analyses of operational synergies. From 2022 onward, Peraton sustained expansion through contract awards and organic growth, with federal revenue reported at $4.97 billion in 2022 per Washington Technology rankings, reflecting strengthened positions in defense ($2.27 billion) and civilian sectors ($2.69 billion). Independent estimates placed overall revenue at $7.7–7.8 billion for 2023, growing to an projected $8 billion in 2024 amid digital modernization demands, despite early-year headwinds in some segments. Employee headcount stabilized around 18,000, supporting operations across intelligence, space, and cybersecurity domains. Key 2025 milestones included securing over $100 million in federal and state for IT, cybersecurity, and modernization services in , enhancing resilience in agency operations. In October, Peraton won a position on a $980 million U.S. for testing systems, expanding its defense footprint and partnership with the Department of Defense. The company also received the ACCELERATE 2025 Award for federal innovation contributions and was ranked among the largest private firms in Greater by revenue. These developments underscored Peraton's trajectory as a scaled provider of mission-critical technologies, with no further major acquisitions reported through October 2025.

Core Services and Capabilities

Cybersecurity and IT Services

Peraton delivers cybersecurity services emphasizing defensive and offensive operations, system resiliency, and threat intelligence integration to support missions. These include zero trust architectures that compartmentalize data, verify user identities, and manage privileged access to counter insider threats. The company also focuses on cyber resiliency through vulnerability identification and adversary tactic simulation to maintain operational continuity during attacks. Key platforms and tools encompass ThreatBoard, a solution that aggregates threat intelligence, breaks data silos, and accelerates response times by enriching data at machine speed to enhance defense against evolving threats. Additional capabilities involve advanced effects for and security, as well as full-spectrum support, bolstered by efforts at Peraton Labs targeting mission-critical infrastructure protection. In enterprise IT services, Peraton supports and modernization via hybrid environments, agile application development, and integrated advanced security measures. Offerings include migration, managed and services, and management to enable scalable, secure operations from centers to edges. Notable contracts underscore these capabilities, such as an $889 million award on January 9, 2024, to provide operations support to U.S. Army Cyber Command headquarters and components. In October 2025, Peraton received an Other Transaction Authority prototype contract from the U.S. Air Force Life Cycle Management Center to design and integrate cyber infrastructure for mission readiness. A $69 million task order awarded on September 30, 2025, by the FDA supports continuity with cybersecurity platform elements.

Space Systems and Intelligence Solutions

Peraton delivers space systems capabilities focused on superiority, protection, and resiliency, including engineering, integration, and 24/7 operations for satellite ground systems and (SSA) to support and civil missions. The company maintains over 30 years of experience in developing and sustaining weather infrastructures for environmental intelligence, alongside 35 years in , Tracking, and (TT&C) systems that leverage mature technologies for mission sustainment. Ground systems management spans decades of support for and range programs, encompassing operations, launch services for used in , , and hypersonic testing, and suborbital operations for NASA's and programs with global launch and recovery. In scientific and exploration missions, Peraton operates NASA's Near Space Network (NSN) and Deep Space Network (DSN), providing telecommunications, tracking, and clock calibration essential for deep space endeavors such as the mission and I uncrewed lunar test flight in November 2022. Additional expertise includes nearly 40 years of support to the Naval Research Laboratory (NRL) across five contracts for electronics and space system operations. Notable contracts include a $1.8 billion NASA Network Services (SENSE) award in June 2019 for a five-year ordering period, serving as a follow-on to prior space communications network services, and a $339 million NASA Balloon Operations Contract II in May 2022, supporting 10-15 annual missions over seven years. A $56 million U.S. commercial communications task order was awarded in June 2020 under the Enhanced Mobile Satellite Services contract vehicle. Peraton's intelligence solutions provide mission operations support, management, and tailored to the Intelligence Community (IC), emphasizing 24/7 defensive operations, , and scalable augmentation for and uptime. Secure communications achieves 99.999% availability for voice, data, and video transport, while tools process billions of records via -based platforms to deliver , pattern identification, and predictive behavioral insights from massive datasets. extends to sensors, communications, and command/control , with and migration enabling cost-effective and modernization. Within space-related intelligence, Peraton furnishes 24/7 on-orbit support, collision-avoidance analysis, and space control intelligence to the Department of Defense () and IC. Broader IC engagements include an $850 million DoD contract awarded in August 2022 for agile intelligence systems development and integration. The Space & Intelligence sector amassed over $1.2 billion in classified contracts throughout 2023, underscoring sustained demand for these integrated capabilities.

Mission Support and Fraud Prevention

Peraton's mission support services encompass , operations, and application management tailored to and civilian agency requirements, including , , , and command-and-control operations for and missions. These services provide 24/7 operational maintenance, secure networking, field , and crisis response, enabling real-time execution for U.S. and entities. In homeland security contexts, Peraton supports border security, prevention, and integration through technology-enabled and . A specialized facet of Peraton's mission support involves fraud prevention and detection, particularly in federal health and financial systems, where it deploys AI-driven tools to safeguard taxpayer funds. The company's SafeGuard Services have reportedly prevented over $9 billion in inappropriate payments, including $5.6 billion through proactive measures and $3.4 billion via recovery efforts, focusing on medical claims review and fraud investigations. Peraton secured a 2022 contract with the Department of Health and Human Services for the Fraud Prevention System 2 (FPS2), which utilizes AI and machine learning for pre-payment fraud detection, claim rejection recommendations, and targeting fraudulent providers. In May 2025, Peraton launched Rapid Fraud Intelligence (Rapid FI), an AI-based platform integrating federal investigative expertise with to identify suspicious patterns in real time, customizable for agency-specific threats. This tool has demonstrated efficiency gains, reducing model runtimes from 16 to 6 hours and execution costs by 33%, while delivering a reported 100x through mitigation. A September 2025 partnership with enhanced Rapid FI's scalability for federal and state detection, emphasizing data orchestration to counter evolving schemes in programs and . These capabilities extend to citizen security missions, incorporating into and for .

Major Contracts and Projects

Defense and Intelligence Contracts

Peraton delivers engineering, analysis, and mission support services to U.S. components and agencies, focusing on domains such as , space intelligence, , and threat assessment. These engagements leverage Peraton's expertise in classified environments, including support for re-entry systems, multi-domain , and IC mission management. A key award was a five-year, $284 million task order from the () on June 1, 2023, under the Solutions for 3 (SIA3) vehicle, to provide scientific and technical analysis for the Missile and Space Intelligence Center (MSIC). This work bolsters MSIC's authoritative assessments of foreign missile and space threats through modeling, simulation, and data analytics. In 2023, Peraton's Space & Intelligence sector accumulated over $1.2 billion in classified contracts from and customers, emphasizing secure cloud integration, innovation, and . Notable among these was a February 26, 2024, contract from the () to develop prototypes exploiting attacker cognitive biases for enhanced protection. Peraton also supports cyber mission readiness via a contract awarded October 2, 2025, involving design and integration of advanced to counter evolving threats. Additional IC-related efforts include a February 5, 2025, recompete for sole-source investigative services to vet personnel for a critical federal customer, ensuring compliance with standards. Through indefinite delivery, indefinite quantity () vehicles like the Army's Responsive Strategic Sourcing for Services ()—a $37.4 billion, 10-year framework with 261 prime vendors—Peraton accesses task orders for IT and support. Similarly, under the Defense Information Systems Agency's (DISA) ENCORE III , Peraton provides enterprise IT solutions for networks. These mechanisms facilitated Peraton's inclusion in GovConWire's list of significant 2024 contracts amid a of $824.3 billion.

Civilian and Space Agency Engagements

Peraton provides mission-critical support to the , focusing on space communications, suborbital research, and operational services. In June 2019, the company was awarded the contract, valued at up to $1.8 billion over a five-year ordering period, to manage near-Earth space network operations as a follow-on to prior space communications services. In September 2024, Peraton was listed among the Top 100 NASA Contractors by Forecast International, reflecting its sustained role in agency projects. Key engagements include suborbital and balloon missions for scientific research. On September 14, 2023, Peraton secured the , a five-year award worth up to $330.3 million, to handle vehicle integration, testing, and launch support for NASA's program, which dates to the late 1940s and facilitates atmospheric and space science experiments. Similarly, in May 2022, it won a $339 million for Balloon Operations, providing flight support, , and payload integration for high-altitude missions used in and . These efforts support NASA's broader goals in space science without direct ties to defense operations. Recent developments highlight contract uncertainties. In June 2025, paused the recompete process for the $1.8 billion contract held by Peraton, delaying potential transitions amid vendor anticipation. Additionally, the balloon operations contract at the Scientific Balloon Facility in , is scheduled to expire on September 30, 2025, potentially impacting 81 Peraton positions if not renewed. Beyond space agencies, Peraton engages civilian federal entities through IT modernization, cybersecurity, and investigative services. It supports background investigations across federal, intelligence, and civilian sectors as the largest provider in this domain, though primary contracts route through the . The company also aids civilian agencies in securing IT infrastructures and advancing zero-trust architectures, drawing on experience with health, citizen security, and mission support, including partnerships with entities like the Department of Health and Human Services for operational resilience. These efforts emphasize compliance with regulations and emergency planning, as outlined in Peraton's GSA schedules for civilian IT services.

Innovations and Technological Contributions

Peraton's technological heritage includes pioneering contributions to digital communications and data security. In 1982, researchers affiliated with Peraton's predecessor entities demonstrated the first Voice over Ethernet (VoE) call on an Ethernet local area network, laying groundwork for modern internet telephony. By 1992, the team co-invented the Multipurpose Internet Mail Extensions (MIME) protocol, which standardized multimedia email attachments and incorporated encryption capabilities to enhance secure data exchange. That same year, Peraton introduced Acusil®, an advanced thermal protection material applied in missile defense systems and NASA's Perseverance rover mission to Mars in 2020 for safeguarding communications and structural integrity during reentry and atmospheric conditions. Further advancements encompass foundational blockchain technology developed in 1994 as a decentralized ledger system for information trust, predating widespread cryptocurrency applications, and in 2007, leadership in creating multi-terabit, reconfigurable optical network services that enabled high-speed internet infrastructure supporting contemporary . In 2012, Peraton earned the Edison Patent Award for scalable quantum communications integrated into fiber optic networks, advancing secure data transmission resistant to interception. The company's Peraton Labs division inherits over 2,000 patents from this lineage, emphasizing applied research in emerging domains such as cybersecurity, adaptations for mission-critical environments, algorithms, advanced networking, and systems. Contemporary innovations focus on integrating commercial technologies into government operations, including modifications to , , and standards for secure, high-threat settings through processes. Peraton Labs supports unmanned ground vehicle evolution via for autonomous decision-making, virtual and for operator training and , enhanced for environmental awareness, and robust radio communications for resilient connectivity. In October 2025, Peraton received an Other Transaction Authority Prototype (OTA-P) contract from the U.S. Life Cycle to prototype advanced , aimed at bolstering defensive capabilities against evolving threats. These efforts underscore Peraton's role in transitioning laboratory to operational deployments for applications.

Controversies and Criticisms

Human Rights and Privacy Allegations

In 2022, advocacy organizations including the Immigrant Defense Project, Mijente, and Just Futures Law alleged that Peraton's work on the U.S. of Security's (DHS) Advanced Recognition Technology (HART) facilitates invasive surveillance and potential abuses targeting immigrant communities and people of color. HART, a biometric database replacing the older IDENT , stores facial images, iris scans, fingerprints, DNA profiles, and biographical data on millions of individuals encountered at borders or ports of entry, with periods extending up to 75 years. Peraton inherited the HART development contract from following its $3.4 billion acquisition of the latter's federal IT business in December 2020; the original 2017 contract, valued at $95 million and later increased to $143 million, covers increments for biometric . Critics in the "HART Attack" report contended that the system's integration of unverified data from sources like facial recognition vendor —known for scraping billions of images from public websites without consent—exacerbates risks through inaccurate matches and algorithmic biases that disproportionately affect racial minorities. They argued HART enables , automated raids, arrests, and deportations by cross-referencing with officer notes, social connections, and encounter histories, potentially violating rights to and freedom from arbitrary detention under international standards. No independent verification of systemic abuses has been documented, and DHS maintains HART includes assessments to mitigate risks, though a 2021 report highlighted ongoing incident vulnerabilities in DHS biometric operations. Peraton did not respond to requests for comment on these allegations from the Business & Human Rights Resource Centre in July 2022, nor has the company publicly addressed the claims in subsequent statements. The allegations stem primarily from advocacy groups focused on immigrant rights, which have historically opposed enhanced border enforcement technologies; proponents of HART, including DHS, emphasize its role in national security and counter-terrorism without conceding privacy overreach. No lawsuits or regulatory findings have substantiated human rights violations directly attributable to Peraton's HART contributions as of October 2025.

Contract Disputes and Ethical Concerns

Peraton has been involved in several bid protests before the (), both challenging awards and facing challenges to its own s. In June 2025, sustained a by DirectViz Solutions against Peraton's of an for cybersecurity IT support services to the Global Center, citing an unmitigated impaired objectivity of interest (OCI). The OCI stemmed from Peraton's prior role under an Command , where it assisted in developing policies and strategies applicable to the Global Center's operations, potentially biasing its performance and advice. criticized the 's OCI investigations as insufficient, lacking substantive analysis. In September 2025, Peraton lost a protest against Information Technology's award of a $1.5 billion IT services task order for U.S. Strategic Command under the Alliant 2 vehicle. As the incumbent, Peraton alleged flaws in the evaluation of proposals, including pricing, and an OCI arising from GDIT's hiring of two former government officials involved in the . denied the protest, allowing GDIT to proceed. Peraton has pursued claims under the Contract Disputes Act in federal court. In a May 2024 ruling, the U.S. Court of Federal Claims denied the government's motion to dismiss Peraton's $33 million breach-of-contract suit against the Office of Personnel Management (OPM), alleging underpayment for access to its Electronic Official Personnel Folder software by 2.2 million users lacking required maintenance licenses. The software supports secure management of federal personnel files. Separately, in July 2025, Peraton Risk Decision reached a preliminary class-action with OPM plaintiffs over a affecting federal employee records. Ethical concerns have centered on potential conflicts and implications in Peraton's work. groups, including the Immigrant Defense , Just Futures Law, and Mijente, alleged in a 2022 report that Peraton's technology services for the Department of Homeland Security's Homeland Advanced Recognition Technology System (HART) database enable invasions and violations, disproportionately impacting immigrant and minority communities through enhanced . Peraton did not respond to these claims. OCI findings in decisions, such as the 2025 Army sustain, highlight risks of impaired judgment in advisory roles influencing policy and procurement.

Employee Relations and Operational Challenges

In 2025, Peraton conducted multiple rounds of layoffs amid uncertainties in federal funding, including notices issued on October 10 to 92 employees in , potentially rescindable if funding materialized. Similarly, the company notified the Department of Labor and Industry in October 2025 of plans for a mass affecting 153 workers in Cumberland County if a specific was not renewed by November 1. These actions reflect broader workforce reductions, with WARN notices documenting 1,213 layoffs across , , , and from April 2021 to April 2025. Employee morale has been strained by these cuts, compounded by reports of salary reductions and increased workload for remaining staff following earlier layoffs, such as those announced in November 2023 effective January 2024. A union organizing effort emerged in 2025, with the International Association of Machinists and Aerospace Workers petitioning the for representation at Peraton's facility. Litigation has also highlighted tensions, including a 2023 case where a laid-off employee alleged failures in contract fulfillment and sought sanctions against Peraton for inadequate preservation of employee communications during internal reviews dubbed "Project Falcon." Operationally, Peraton's dependence on contracts exposes it to fiscal volatility, as evidenced by 2025 layoffs tied to non-renewals and broader industry pressures from canceled awards and efficiency initiatives like the Department of Efficiency (). This reliance has led to challenges in workforce planning and retention, particularly in a sector requiring specialized clearances and skills, where abrupt shifts project continuity. Post-2021 spin-off from , integration of acquired entities like Perspecta has strained resources, contributing to overhead bloat and subsequent cost-cutting measures.

Financial Performance and Outlook

Revenue Streams and Economic Impact

Peraton derives the majority of its revenue from contracts with U.S. federal agencies, focusing on , , cybersecurity, and mission support services across , , civilian, and sectors. In 2023, total reached an estimated $7.7 billion to $7.8 billion, with projections for $8.0 billion to $8.1 billion in 2024 driven by integration of prior acquisitions and contract wins. Federal prime contract obligations, as tracked by Washington Technology's Top 100, totaled $4.405 billion in 2023, segmented into $1.876 billion from -related awards and $2.529 billion from civilian agencies. These figures exclude subcontracts and non-federal work, underscoring Peraton's heavy reliance on , which constitutes over 90% of operations based on analyses of similar contractors. The company's revenue model emphasizes long-term, multi-year contracts, including cost-plus-fixed-fee and fixed-price arrangements, often through indefinite-delivery/indefinite-quantity vehicles for agility in delivering , data analytics, and engineering services. Key streams include Department of Defense and community engagements for cybersecurity and (command, control, communications, computers, , surveillance, and reconnaissance), alongside civilian support for agencies like the Department of and and Human Services. In defense specifically, Peraton reported $5 billion in related revenues for 2022, reflecting growth from mergers that expanded capabilities in space and mission systems. Economically, Peraton supports over 18,000 employees globally, with approximately 7,000 in the region, fostering high-skill jobs in , , and that bolster local economies in and . Nearly one-quarter of its workforce comprises military veterans, contributing to employment retention in defense-adjacent communities and earning recognition via the U.S. Department of Labor's HIRE Vets Medallion Award in 2024. As the fourth-largest private company in Greater by 2023 revenue, Peraton drives regional economic activity through , R&D investments, and support, while its exceeding $20 billion sustains long-term fiscal stability and indirect job creation via supply chains. This footprint amplifies U.S. capabilities, indirectly impacting GDP through enhanced efficiency in critical domains.

Credit Ratings and Recent Financial Pressures

Peraton's credit ratings have deteriorated significantly in 2025 amid high leverage and operational challenges. As of May 12, 2025, Fitch Ratings downgraded Peraton Inc. to 'CCC+' from 'B', with a negative outlook, citing constrained deleveraging ability due to elevated debt levels, projected revenue declines of 2-4% in 2025 from limited contract awards, and margin underperformance. On the same date, Moody's Investors Service downgraded Peraton Corp.'s corporate family rating to Caa2 from B3, also with a negative outlook, pointing to elevated debt, profitability shortfalls, and heightened risks from federal budget uncertainties and contract recompetes. S&P Global Ratings affirmed Peraton Corp.'s 'B-' issuer credit rating on May 1, 2025, but revised the outlook to negative from stable, reflecting expectations of negative free cash flow in 2025 despite $550 million in cash at the end of 2024. These downgrades follow earlier negative revisions, including Fitch's shift to a negative outlook while affirming a 'B' issuer default rating on September 26, 2024, due to persistent high EBITDA leverage exceeding negative sensitivity thresholds over the subsequent 18-24 months. Moody's had similarly downgraded the corporate family rating to B3 from B2 in September 2024. Peraton's debt structure stems from its private equity ownership by Veritas Capital, which facilitated acquisitions like the $7.1 billion purchase of Perspecta Inc. in 2021, contributing to substantial leverage that agencies view as a key vulnerability in a sector sensitive to U.S. government spending fluctuations. Recent financial pressures intensified in mid-2025, as Peraton ended negotiations with lenders on June 25 to restructure billions in amid prospects of canceled government contracts and broader federal contracting risks. Agencies highlight underperformance in profitability and exposure to recompete losses, with constrained by macroeconomic factors and shifts affecting and budgets. Despite achieving approximately $8 billion in revenue in , the company's trajectory toward remains uncertain without improved contract wins and cost efficiencies.

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