| Chell Raighn |
You need only read the second sentience in contingency for the answer.
“The contingency spell and the companion spell are cast at the same time.”
You actually must cast the second spell as part of casting contingency. Since the spell has already been cast, and it’s effects merely suspended until the triggering conditions are met, you do not need to prepare it again on the following day to maintain the contingency.
Now, if the triggering conditions are met however, then contingency immediately expires its remaining duration and releases the companion spell. You must prepare contingency and it’s companion spell again to reapply after this point, but until then they remain suspended until triggered or contingency expires.