Verus Research is grateful to Albuquerque Business First and reporter Collin Krabbe for their coverage of the third delivery order awarded on the TEN-K effort. Their reporting is quoted below.
Verus Research, an Albuquerque engineering firm, has won a multi-million dollar government contract award.
The company, founded in 2014, received a$23.4 million award with the Army on Sept. 15,according to an Order for Supplies or Services obtained by Business First. The award is one of Verus’ largest ever, according to Chief Financial Officer and Managing Director Hank Andrews.
Verus says the award will provide military test ranges with non-kinetic and evaluation capabilities in directed energy and electronic warfare. The work was awarded by the Army’s Program Executive Office for Simulation, Training and Instrumentation, according to the company.
The company will also work on solutions for defense against unmanned aerial vehicles, Andrews said in a statement.
The award is Verus’ third under a larger $48 million contract, according to the company.
An Army representative was unable to be reached for immediate comment.
Verus provides a range of services across the fields of electromagnetic applications, embedded systems design and environmental radiation sensing, according to its website. It has also operated under the name XL Scientific.
XL Scientific was obligated $17.8 million by the Department of Defense during the previous year, according to according to government data. It has done work for the Army, Air Force and Navy, according to the government.
Verus recorded more than $16 million in revenue during its 2019 fiscal year. It expects to top $25 million this fiscal year, Andrews said in an interview with Business First.
The company grew dramatically in recent years, reporting revenue growth of 322 percent between 2015 and 2017, according to our List of New Mexico’s Fastest-Growing Companies. Between 2016 and 2018, its revenue reportedly
grew 46 percent.
The firm is also growing its workforce. Verus is in need of engineers and support staff, said Chief Technology Officer J. Mark DelGrande.
Verus hopes to hire about a dozen people during the next year in Albuquerque, Andrews said. It currently employs 96 people, 88 of whom are located in Albuquerque.
The company is also in the midst of an expansion of its facilities. It is adding 14,300 square feet to its Uptown Albuquerque headquarters, more than doubling the size of its offices there.