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SAIC details blueprint to reinvigorate growth and innovation

SAIC details blueprint to reinvigorate growth and innovation

 


The temptation to get attached to the symbols surrounding a message about a company itself is high, and it can distract from the essence of what the company is trying to tell us.

However, it's worth noting that Science Applications International's shares began trading on the tech-heavy Nasdaq market on March 5th. SAIC stock has been listed on the New York Stock Exchange since its initial public offering in 2006, where most of its shares were traded. Percentage of listed Gabcon stock transactions.

The listing change may be cosmetic, but it also comes as SAIC Motor Corporation unveils a new multi-year vision and growth strategy. The company made the announcement at an Investor Day event held at the Nasdaq Market in New York on April 11th (also worth watching). city.

In Toni Townes-Whitley's six months as SAIC's chief executive, she has given investors, and by extension employees and customers, a glimpse of its new blueprint.

Investing in technology capabilities, business development engines and workforce upskilling initiatives are among the “three elements” of that, as he explained during the company's March earnings call.

But CEOs almost always have a story to tell at a three-hour investor day event, and Towns Whitley is following in that tradition by highlighting SAIC's history and the company's and federal agency's efforts. We made the following statement about where we want to go next for our clients:

“At last year's Investor Day we said we aimed to be a trusted integrator, and that aspiration remains the same.However, what we have learned and realized is that That's reflected in our data on some of the losses due to recompetition.To be a trusted integrator and long-term partner for our customers, we have to introduce more value and innovation over the life of our contracts. We also need to further strengthen our bid to market and differentiate our products. Our portfolio becomes more important.”

On the technology side, Loren Knausenberger, a former Air Force chief information officer for seven years, has joined SAIC as chief innovation officer to spearhead the effort. She began her role on October 2, the same day that Townes Whitley began her role as CEO.

Knausenberger acknowledged in an investor presentation that SAIC has “lost several bids in the past” based on purely technical scores. She clearly wants that to never happen again, and it's also part of her mission to ensure that.

SAIC Motor's innovation factory will play a key role in that effort, Knausenberger said, as “they are the ones who will provide the digital and engineering capabilities that we bring to market.”

The company's other teams of delivery specialists are sold “in sprints” to solve customer problems and represent the integration of services and SAIC's digital and engineering solutions, Knausenberger added.

One of the key cogs in how SAIC continues to lead in the technology space is its focus on secure multi-cloud solutions, which includes the company's integration with all major hyperscale providers. We need to partner with them to bring it to market.

To its credit, SAIC has had some big wins in this space over the past few years, effectively becoming the agency's leading enterprise cloud broker. As an example, take a look at the $1.3 billion Treasury T-Cloud Reservation and the $728.2 million Air Force Cloud One program.

“These are the bulk of the computing within the business, the bulk of the enterprise services, and they do some very difficult things,” Knausenberger said. “Part of that is deploying business applications, and part of that includes running command and control at multiple levels of sensitivity, as well as unclassified, confidential, and top secret. Some of the policy challenges are very complex.”

Investor events will also feature a company's new financial outlook and goals. His fiscal year 2024 numbers for SAIC are a starting point for where the company is headed. It has sales of $7.4 billion and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $680 million.

The company is targeting sales of $7.95 billion to $8.1 billion and adjusted EBITDA of $750 million to $780 million by 2027. This corresponds to his target of 3.5% CAGR in sales and 4.5% CAGR in bottom line. SAIC operates an accounting calendar from February to January.

SAIC's efforts to meet or exceed these numbers through re-competing, winning new business and contracting growth are all about implementing processes and innovation. Innovation doesn't necessarily happen as fast as it needs to, but when the agency is ready.

Townes-Whitley acknowledged that it is “very difficult to introduce innovation to customers in our market” for contractual and policy reasons. This means that you need to identify other customers from the first group.

“'You didn't mention this need, but it looks like you have it. You don't realize there's a convergence happening in the market. Let's introduce it, let's bring it to you.' That's a real consulting skill set,” Towns-Whitley said.

“How we can say what we know and the techniques we have learned and how we structure it for our customers is a skill set, and moving in that direction and feeling comfortable leaning toward it is a skill set. It's a cultural shift for us.'' We do that kind of consultative sales. ”

Here's what Towns-Whitley said on CNBC's “Squawk Box” on April 11, ahead of Investor Day.

And here, on April 11, SAIC's executive team rings the closing bell at the Nasdaq market in New York City.

Sources

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2/ https://washingtontechnology.com/companies/2024/04/saic-details-its-blueprint-reinvigorate-growth-and-innovation/395946/

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