Parsons is a technology-focused engineering and services company operating across two segments: Federal Solutions and Critical Infrastructure. Federal Solutions provides advanced technology, software, and hardware to U.S. government clients, covering cyber operations, electronic warfare, space and missile defense, signals intelligence, C-UAS, border security, and environmental remediation. Customers include the U.S. Intelligence Community, DoD, and DHS. Critical Infrastructure provides planning, design, and program management for large-scale physical and digital infrastructure — roads, bridges, rail, airports, and water systems — serving state, local, and sovereign government clients primarily in North America and the Middle East. Parsons sells almost entirely to government and public-sector clients across both segments. Parsons earns revenue through long-term government contracts structured as cost-reimbursable, fixed-price, or time-and-material. Margins are driven by contract mix, with fixed-price contracts generally more accretive. Revenue growth is driven by task orders on large IDIQ contract vehicles and new program wins, with recompetes critical to sustaining the business. Parsons has grown through acquisitions, completing 16 since 2017, targeting companies with high growth and margins that add technology capabilities or customer depth. The company has operated in the Middle East for over 60 years, where it is a dominant infrastructure program manager across Saudi Arabia, UAE, and Qatar, and is expanding into defense and border security in the region.