Growth Continues for Kratos OpenSpace quantum and SpectralNet Products in Q3 Supporting Digital Transformation of Satellite Ground Systems
Strong Demand for Kratos' OpenSpace Products
Kratos Defense & Security Solutions (Nasdaq: KTOS) reported strong sales of its OpenSpace™ quantum™ and OpenSpace SpectralNet® products, closing deals with 23 customers. This growth supports the transition of satellite operators to dynamic, virtualized ground systems. The Q3 sales performance was notably robust among clients in U.S. defense and intelligence sectors. The OpenSpace solutions enable flexible and scalable network systems, aligning with evolving mission goals and operational conditions.
- Closed sales of OpenSpace products to 23 customers, indicating strong market demand.
- Robust sales performance in Q3, especially in defense and intelligence applications.
- None.
Strong Adoption in Support of Government, Defense and Intelligence Applications Continues Momentum
SAN DIEGO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it closed sales of its OpenSpace™ quantum™ and OpenSpace SpectralNet® products to 23 customers, supporting the satellite industry’s continued movement toward dynamic, virtualized ground systems.
Kratos’ OpenSpace family of solutions help satellite operators move their network systems from traditional hardware to more dynamic, flexible and scalable architectures that are more responsive to service level agreements, mission goals and changing operating conditions.
Sales of quantum and SpectralNet products to commercial operators remained strong in Q3, and were particularly strong to customers supporting U.S. defense and intelligence programs as well as government projects for other nations.
Blue Canyon Technologies, a leading manufacturer of small satellites and provider of mission services based in Lafayette, Colorado, has been using quantum products in support of more than a dozen of its defense and commercial customers for some time, purchasing additional units this quarter to support its customers. “OpenSpace quantum products provide scale and economic advantages," said Stephen Steg, CEO of Blue Canyon Technologies. "We can install and configure them quickly and reconfigure rapidly when changes are needed to support multiple missions."
Kratos’ OpenSpace family of solutions includes three product lines: OpenSpace SpectralNet® for digital IF conversion; OpenSpace quantum™ for replacing individual hardware components with virtualized equivalents; and the OpenSpace Platform for fully dynamic, service-oriented, orchestrated satellite ground network operations. The OpenSpace family enables customers the flexibility to realize their path to digital transformation at the level and pace that meets their unique mission goals and business models. For more information on Kratos’ OpenSpace family of dynamic ground solutions, visit https://www.KratosDefense.com/OpenSpace.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
FAQ
What recent sales has Kratos reported for its OpenSpace products?
How do Kratos' OpenSpace solutions benefit satellite operators?
What sectors are driving demand for Kratos' OpenSpace products?
What does the OpenSpace family of solutions include?
When was the press release by Kratos published?
