CHANTILLY, Va., June 09, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN), today announced it has secured an additional $73 million contract in support of the Air Force Research Laboratory's (AFRL) Global Application Research, Development, Engineering and Maintenance (GARDEM) mission. The contract is the fourth in support of GARDEM in 2026, bringing Parsons' total awards to $218 million and reinforcing the company's role as a provider of mission-critical digital and data-centric capabilities for the U.S. Air Force.

The latest award expands Parsons' responsibilities for research and development and operations and maintenance (O&M) across GARDEM 2 enterprise platform and mission application software baselines, including Platform and Mission Application support for field sites and existing installations. Parsons will also lead the migration of capabilities to its Lightweight Application Management Platform (LAMP), a lean, scalable environment designed to accelerate global mission deployment while reducing lifecycle cost.

"Securing our fourth GARDEM award this year is a powerful validation of Parsons' ability to deliver mission-ready digital platforms that scale with our customers' needs," said Mike Kushin, President of Defense and Intelligence for Parsons. "By intentionally designing GARDEM 2 for reuse, integration, and rapid adaptation, we will enable AFRL and the Air Force to deploy advanced data-driven capabilities faster, at lower cost, and with greater operational impact across complex operational environments and all domains."

Parsons' technical approach emphasizes technology reuse and deep integration across all GARDEM 2 awards, allowing rapid capability updates while lowering total ownership cost for the government. One of the key strengths of our approach is the utilization of C2Core components in our GARDEM Platform LAMP. Coupling with this operational system creates integration points and a streamlined support structure, allowing for cross-training and surge support between all customers on the GARDEM 2 efforts. This ensures mission systems can evolve at the operational speed of need, while remaining resilient, secure, and cost-effective.

The GARDEM awards build on Parsons' growing portfolio of artificial intelligence, data, software, cyber, and mission engineering all-domain solutions supporting America's warfighters. The company's integrated platform strategy, combining modern software practices, proven C2Core components, modular data layers, and proven mission knowledge, continues to drive long-term program scalability.

To learn more about Parsons' all-domain solutions, visit Parsons.com/all-domain-solutions/.

About Parsons:

Parsons (NYSE:PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we're making an impact.

Forward-Looking Statements:

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government's budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors' protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.

Media Contact:

Angie Benfield

+1 803.334.5277

Angie.Benfield@parsons.com

Investor Relations Contact:

Dave Spille

+ 1 703.775.6191

Dave.Spille@Parsons.us

Parsons Secures a Total of $218 Million on AFRL GARDEM Contracts