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Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) is a specialized national security technology company dedicated to providing mission-critical products, services, and solutions that align with the United States' national security priorities. Headquartered in San Diego, California, Kratos employs approximately 3,900 engineers and technical professionals who are committed to advancing the technological frontier in several critical areas.
Kratos' core capabilities span sophisticated engineering, manufacturing, and systems integration offerings. These capabilities are pivotal for various national security platforms and programs, including C5ISR (Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance), satellite communications systems, electronic warfare, unmanned systems, missile defense, cyber warfare, cybersecurity, information assurance, and critical infrastructure security.
The company's operations are divided into two main segments:
- Kratos Government Solutions (KGS): This segment is an amalgamation of several operating units that focus on microwave electronic products, space, training, and cybersecurity, C5ISR/modular systems, turbine technologies, and defense and rocket support services. The KGS segment is the primary revenue driver for the company.
- Unmanned Systems: This segment encompasses the development and deployment of unmanned aerial, ground, and seaborne vehicles, alongside related command, control, and communications systems. Kratos' advancements in unmanned systems are both innovative and cost-effective, making significant contributions to modern warfare and defense strategies.
Recent achievements by Kratos include the successful integration of Shield AI’s Hivemind with Kratos' Firejet, showcasing the potential of autonomous systems in national defense. Additionally, Kratos has demonstrated the capability of its OpenSpace® Software Ground System to support interoperability and multi-mission operations in collaboration with partners like Telesat Government Solutions and Cobham Satcom.
Kratos remains at the forefront of defense technology, continually evolving to meet the complex demands of modern warfare and national security.
Kratos Defense & Security Solutions (KTOS) has secured a $6.5 million contract from DARPA for hypersonic research flight testing. The two-year contract, which began in August 2023, focuses on developing and validating critical hypersonic components for future weapon systems.
Kratos will utilize its flight-proven hypersonic test beds and sounding rocket-based launch vehicles to conduct flight experiments and validate modeling tools. The company has made significant investments in hypersonic systems, including the Erinyes hypersonic flyer, Zeus solid rocket motor series, and Dark Fury.
Kratos Defense & Security Solutions announced successful flight tests of the USMC’s XQ-58A Valkyrie unmanned aerial system as part of the Emerald Flag 2024 exercise. Conducted in collaboration with Northrop Grumman, Autodyne, USMC, USN, and USAF, the tests demonstrated cooperative kill chain closure and collaborative electronic warfare (EW) operations between crewed and uncrewed platforms for the first time in a large-force exercise.
The USMC used expeditionary methods to control the XQ-58A, showcasing its ability to autonomously exchange tactical information. This enhances the Marine Air-Ground Task Force's integrated and joint operations capabilities. The event included participation from various defense and research entities and was observed by high-ranking military officials.
The XQ-58A operated alongside USMC F-35B and USAF F-15E/EX aircraft, identifying threats and sharing targeting data over tactical networks. The Valkyrie’s performance supports the USMC’s mission to deter conflicts and defeat enemies, marking a milestone in unmanned aerial system development.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has announced its participation as a Gold Sponsor of the Reagan National Defense Forum (RNDF) at the Ronald Reagan Presidential Library in Simi Valley, California. The event brings together national security leaders, policymakers, industry executives, and military officials to discuss defense challenges and opportunities. Kratos' leadership will participate in discussions on defense system modernization, affordability, and integration of technologies like unmanned systems, hypersonics, and space systems.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has secured a $116.7 million contract over five years from the U.S. Space Development Agency to create and operate an Advanced Fire Control Ground Infrastructure (AFCGI). The project supports the Advanced Fire Control program, focusing on missile defense capabilities, particularly tracking hypersonic missiles through the FOO Fighter program.
As the prime contractor, Kratos will lead a team including ASRC Federal Systems Solutions, Peraton, Sphinx Defense, and Stellar Solutions to deliver ground segment resources, manage operations centers, and provide cloud services. The system will utilize Kratos's OpenSpace Ground Platform to ensure interoperability across multiple AFC constellations.
Kratos Defense & Security Solutions (KTOS) announced the successful first flight of its Zeus 1 and Zeus 2 Solid Rocket Motors (SRMs) on October 24, 2024, at NASA Wallops Flight Facility. The test achieved 100% of performance objectives, qualifying the motors for Department of Defense, Foreign Allies, NASA, and commercial launch programs. L3Harris Technologies will begin delivering production motors in Q1 2025. The 32.5-inch diameter SRMs offer improved performance over legacy rockets and are designed for rapid integration with existing payloads and infrastructure, enabling more frequent, faster, and cost-effective launches.
Kratos Defense & Security Solutions (KTOS) reported Q3 2024 financial results with revenues of $275.9 million, up 0.5% from Q3 2023. The company posted net income of $3.2 million and EPS of $0.02, improving from a net loss of $1.6 million in Q3 2023. Unmanned Systems segment revenues grew to $64.2 million, showing 8.7% organic growth. The company maintained a consolidated book-to-bill ratio of 1.0 to 1.0, with total bookings of $267.2 million. Kratos affirmed its full-year 2024 guidance and reported a bid pipeline of $12.0 billion.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has announced its upcoming third quarter 2024 financial results release and conference call schedule. The company will release its Q3 2024 results after market close on Thursday, November 7th, followed by a management conference call at 2:00 p.m. Pacific (5:00 p.m. Eastern). Interested participants can register for the call through an online form and will receive dial-in details upon registration. A replay of the call will be available on the company's website for those unable to attend live.
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) has announced a partnership with Radisys® to develop cloud native 5G-NTN (non-terrestrial network) solutions for satellite connectivity. These solutions will be available through Kratos' OpenSpace® Platform, the only commercially available, fully software-defined satellite ground system.
The collaboration aims to create a 5G-NTN satellite base station equivalent to a cellular base station, delivered as cloud native software. This development is expected to enable open, highly scalable high-performance 5G service delivery through any 5G core network worldwide. The partnership is positioned to capture a share of the $35 billion revenue opportunity in satellite connectivity over the next decade, as identified by GSMA Intelligence.
Intelsat, one of the world's largest global satellite operators, expressed confidence in the partnership, stating that it will enable them to offer best-in-class 5G services to their consumer, business, and government customers.
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) recently hosted U.S. Representative Gary Palmer (AL-6) at their Kratos SRE facility in Birmingham, Alabama. The visit showcased Kratos' expertise in advanced technologies, including materials for extreme environments, hypersonics, space systems, missile systems, and strategic deterrence.
Michael Johns, Senior VP of Kratos SRE, expressed honor in hosting Rep. Palmer and highlighted the team's work on important national defense and space exploration programs. Kratos SRE, formerly part of Southern Research and acquired by Kratos in May 2022, employs about 220 professionals supporting the space community, Department of Defense, and other national security customers. The company's growth in Birmingham aligns with its strategy to expand technology capabilities in hypersonics.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has secured a $79.8 million contract from the U.S. Air Force for 60 BQM-167A Air Force Subscale Aerial Target (AFSAT) aircraft systems. This Lot 20 procurement includes mission kits, flight consumables, and technical data. The contract incorporates Gas, Aero, Payload, Power (GAPP) enhancements, marking the largest capability upgrade for the BQM-167A to date. These improvements aim to replicate more advanced threats, enhancing weapon systems verification and training for the USAF. This order represents the largest single purchase of BQM-167As by the Air Force Life Cycle Management Center. The total contract value could reach $374 million if all options for Lots 17-21 and Spares are exercised at maximum production quantities.
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