John Mengucci: Yes, sure. I would say on the organic front, yes, I’m very happy we had 11% overall growth and 6% in the second quarter, and your numbers are, as they always are, spot-on – 5% organic growth for the first half. Look, that is really playing out because of previous large awards that we’ve been able book, get through the protest period and then–you know, every one of these larger tech jobs has a slightly different ramp-up plan, so those are starting to all get into alignment. On top of that, the mission technology work – you know, we’ve been very transparent on that. Rarely, Sheila, does that make it deeply into our backlog. We’re usually getting awards that’s a 30 to 60-day delivery cycle, so we sort of get that award and that immediately goes to revenue, and then better profits – I know Jeff touched on that, looking towards our second half.
I like the book of business we have today, and I’ll sort of move forward to the ones that we just won. Look, we’re extremely pleased with what we have won there. They are two really nice jobs that those and a few others are going to set us up well. On the award side, you’ve always heard me say it – awards are lumpy, right? You’ll never see me post any kind of headline, record award quarter, because I fear coming to you all and showing you the quarter after that we’re slightly less, so. Look, awards are always going to be lumpy, but we do continue to win new awards and execute against our large and growing backlog. On the EITaaS, look, I think we’ll know in the April time frame. I don’t like to go to my crystal ball, but I see more upside than downside to that decision, Sheila.
I really see that being the next step up for us as we look at how we’re going to solve for FY24 for organic growth. The other cyber-related IC award, for everybody out there, we’re going to continually call it that because it is a very sensitive program. On behalf of our customer set, we’re not going to discuss the program name or our direct customer. I can tell you that that is in the protest period. We’re waiting for the customer to take corrective action. We’re hopeful we may hear something before this month is out, but as I mentioned on the Air Force job, when we go for these large awards, we’re always planning a 90 to 120-day protest period, so we know when we can count on revenue from that job so we don’t peak too early. I do like what we’ve done there.
Those were really strong, strategic wins. We had the right best value solution in both cases. We continually shape these awards from two, three, four years before anybody else sees them, and again we’re leading with investment ahead of customer need. Both of these awards will benefit–we’ll talk more about it after we get through the protest period, but investing ahead of contract award is showing these customers the art of the possible, okay – here’s where the threats are going to go, do you want a more technological solution. It really takes the risk of having to find 2000, 3000 cleared folks, how can we bring technology more in to sort of lower their risk. All in all, I like how ’24 is setting up, and I do believe that we’ll find our way through these protests.
Operator: Our next question comes from Tobey Summer with Truist Securities. Please go ahead, Tobey.
Tobey Summer: Thank you. You mentioned your addressable market increasing substantially. How does the spending growth that the company can tap into compare and perhaps differ from the headline rates of growth of this year’s budget?
