Murray, Utah - Coda Octopus Engineering, Inc. (formerly Coda Octopus Colmek) is pleased to announce that its accounting system has been found compliant by the Defense Contract Audit Agency (DCAA), enabling the company to accept cost-type contracts from the U.S. Government and Department of Defense. This significant milestone expands the scope of contracts Coda Octopus Engineering can pursue and win, strengthening its position as a trusted defense contractor.
Unlocking New Contract Opportunities
DCAA compliance represents a critical capability enhancement that allows Coda Octopus Engineering to compete for and execute a broader range of government contracts, including cost-plus-fixed-fee, cost-plus-incentive-fee, and other cost-reimbursement contract types that are essential for complex engineering development programs.
"Achieving DCAA compliance is a game-changer for our business development efforts," said Jim Balent, CEO. "This qualification opens doors to research and development contracts, prototype development programs, and long-term sustainment efforts that require the flexibility and transparency that cost-type contracts provide."
Strategic Timing with SeaPort NXG Award
The DCAA compliance achievement comes at an opportune time, following Coda Octopus Engineering's recent award of a prime position on the Navy's SeaPort NXG contract. This combination of contract vehicle access and enhanced contracting capabilities positions the company to pursue more sophisticated and higher-value opportunities within the $5 billion SeaPort NXG program.
About Coda Octopus Engineering
Coda Octopus Engineering is a qualified small business subsidiary of Coda Octopus Group (NASDAQ: CODA), specializing in defense systems engineering, rugged embedded computing, and custom electronics development. The company maintains comprehensive qualifications including AS9100:D certification, NIST 800-171 compliance, and DCAA-compliant accounting systems from its Salt Lake City facility.