SAIC reported $1.87 billion in fiscal year 2026 third-quarter revenue, down 5.6 percent from the same period the previous year, and $2.2 billion in Q3 net bookings with a trailing 12 months book-to-bill ratio of 1.2.
In an earnings statement published Thursday, the Reston, Virginia-based government technology services contractor said it ended the third quarter with an estimated total backlog of approximately $23.8 billion, of which about $3.8 billion was funded.
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What Are Jim Reagan’s Priorities as SAIC Interim CEO, Thoughts on SilverEdge Deal?
At an earnings call Thursday, Jim Reagan, interim CEO of SAIC and a five-time Wash100 awardee, outlined his top priorities, including driving increased focus and taking decisive action that will position the company for long-term shareholder value creation.
In the past 24 months, Reagan said SAIC has implemented changes across business development and is building on the progress by sharpening its focus on execution to boost capacity for investment in the business, deploying financial resources to drive growth and prioritizing yield and bid quality across its business development function.
He also cited the need to shift the focus from maximizing throughput to elevating quality, prioritizing near-term execution and aligning with the markets where the company is most likely to win.
“This will drive improved decision-making, more efficient resource allocation and a stronger SAIC in the long run. As I look at some of the larger business development pursuits that have not gone our way in recent years and the lessons learned, there is substantial value to be created from turning up the focus and attention on the core fundamentals of this business,” he added.
In November, SAIC announced an organizational restructuring, consolidating its five current business groups into three to streamline operations, strengthen customer focus and drive growth and shareholder value. The new structure will take effect Jan. 31.
Reagan, who took on the role of interim chief in October, mentioned SAIC’s acquisition of SilverEdge Government Solutions during the call.
“Having personally spent time with leaders at SilverEdge, I’m excited about the value we can create by combining their differentiated technology and commercial go-to-market approach with the breadth of SAIC,” Reagan said. “Building upon their success at bringing sought-after AI capabilities to life for the intelligence community, I expect strong continued growth as we deploy their incredibly talented people and solutions across the broader SAIC portfolio. This acquisition represents a good example of our ability to invest in differentiated IP capable of solving customer problems.”
He added that the SilverEdge acquisition “is just one proof point of the things that we’re doing to be ready for increased AI content in solutions that our customers are looking for.”
What Are Jim Reagan’s Thoughts on Pentagon Procurement Reforms?
When asked about the Pentagon’s planned procurement reforms, Reagan said SAIC is ready to support the department’s efforts to accelerate acquisition and improve readiness.
“The use of different contracting vehicles, for example, OTAs, that’s something that we have been doing for some time, and we’re ready to expand the use of those kinds of alternative or innovative contracting vehicles that will provide greater speed of not just the procurement process but greater speed of implementing solutions,” the SAIC board member stated.
SAIC’s Q3 FY 2026 Financial Highlights
SAIC reported $185 million in Q3 adjusted earnings before interest, taxes, depreciation and amortization, or 9.9 percent of revenues.
Third-quarter net income was $78 million. Meanwhile, the company’s Q3 diluted earnings per share and adjusted diluted EPS were $1.69 and $2.58, respectively.
The company recorded $129 million in Q3 cash flows provided by operating activities and $135 million in free cash flow for the quarter.
