The Reston-based technology and solutions provider, listed as ICFI on the NASDAQ, has already repurchased approximately 435,000 shares this year, costing $29 million. John Wasson, chair and chief executive officer, pointed to a substantial backlog and a strong business development pipeline as the primary drivers of this decision.

Beyond share buybacks, the company intends to balance this capital allocation with organic investments and strategic acquisitions. The expanded authorization builds upon the remaining $65 million from the previous program, providing the firm with greater flexibility to manage its cash flow as it navigates the government contracting sector.