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CHANTILLY, Va. - Parsons Corporation (NYSE:PSN), a $9.15 billion market cap defense technology firm currently trading above InvestingPro’s Fair Value estimate, has been awarded a five-year indefinite delivery indefinite quantity contract to modernize the U.S. Coast Guard’s Biometrics at Sea System (BASS 2.0), according to a company press release issued Monday.
The BASS platform enables Coast Guard personnel to collect and analyze biometric data, including fingerprints and facial recognition, to verify identities and recognize potential threats during maritime law enforcement operations.
Under the contract, Parsons will provide strategic planning and technical expertise to support the software and hardware of its JavelinXL devices and Ares Gateway, which are key components of the BASS platform. The company will also supply and deploy JavelinXL devices to Coast Guard units conducting maritime law enforcement activities.
The JavelinXL devices are Android-based handhelds designed for multi-modal biometric capture, including four-finger slap prints, iris scans, facial imagery, and voice data. These rugged devices are managed through Parsons’ Ares mobile application, providing solutions for collecting biometric data in maritime environments.According to InvestingPro data, Parsons has demonstrated strong momentum with a 34% price return over the past six months despite operating in a volatile market. The company maintains a "GOOD" Financial Health score, with two key strengths being its liquidity position and moderate debt levels.
"Our team is committed to delivering advanced technology solutions that empower the Coast Guard to achieve its mission of ensuring the nation’s maritime safety, security and stewardship," said Jon Moretta, president of Engineered Systems for Parsons.
The contract represents new business for Parsons, which has previously delivered over 3,500 mobile biometrics solutions to customers including the intelligence community, Department of Defense, and law enforcement agencies. The company reported $6.49 billion in revenue for the last twelve months and remains profitable with a net income of $239.74 million, though InvestingPro data shows 7 analysts have revised earnings estimates downward for the upcoming period.
The modernized system will connect to national and international databases to enhance security and operational efficiency for maritime law enforcement operations. While Parsons trades at a relatively high P/E ratio of 37.8, its comprehensive Pro Research Report available on InvestingPro provides deeper insights into the company’s valuation metrics and growth potential among 1,400+ top US equities.
In other recent news, Parsons Corporation reported its third-quarter 2025 financial results, highlighting a mixed performance. The company achieved an earnings per share (EPS) of $0.86, which exceeded analyst expectations of $0.75, resulting in a 14.67% surprise. Despite this positive earnings result, Parsons’ revenue fell short of forecasts, coming in at $1.62 billion compared to the anticipated $1.67 billion. The discrepancy in revenue led to a negative reaction in pre-market trading. These developments are crucial for investors monitoring the company’s financial health. Analysts and investors alike will be closely watching how Parsons addresses the revenue shortfall in future quarters.
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