Kratos Receives $14 Million Tactical Jet Drone System Contract Award

Rhea-AI Summary

Kratos Defense & Security Solutions (NASDAQ: KTOS) has secured a new contract worth approximately $14 million for Tactical Jet Drones, enhancing its position in the unmanned aerial systems market. The contract will be executed at secure Kratos facilities and customer locations, although specific contract details are undisclosed due to security considerations. This award underscores Kratos' ongoing commitment to providing affordable, high-performance jet-powered drones, building on its experience with systems like the Valkyrie and MAKO.

Positive

• Contract win of approximately $14 million enhances revenue potential.
• Strengthens Kratos' position in the unmanned aerial systems market.

Negative

• None.

SAN DIEGO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has recently received an approximate $14 million Tactical Jet Drone contract award. Kratos is an industry leader in the development, design and fielding of affordable, high-performance jet powered unmanned aerial drone systems. Work under this new contract award will be performed at secure Kratos facilities and at customer locations. Due to competitive, security related and other considerations, no additional information will be provided related to this new contract award.

Steve Fendley, President of Kratos Unmanned Systems Division, said, “Kratos today has a family of affordable, high performance, tactical jet drone systems flying, including Valkyrie, MAKO, Gremlins, Airwolf, and others. In 2015 Kratos demonstrated manned – unmanned teaming with Kratos high performance Mako jet drone systems flying with a manned fighter aircraft, with the Mako performing a series of autonomous and operator-supervised missions. Today’s contract award announcement continues Kratos’ industry leading position and the evolution of certain of Kratos’ highest performance, most capable unmanned aerial systems in the world today.”

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. At Kratos, affordability is a technology and we specialize 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 26, 2021, 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 is the recent contract awarded to Kratos Defense for Tactical Jet Drones?

Kratos Defense has received an approximate $14 million contract award for Tactical Jet Drones, enhancing its unmanned aerial systems offerings.

What are the key products mentioned by Kratos in relation to their Tactical Jet Drones?

Kratos mentioned several products including Valkyrie, MAKO, and Gremlins, as part of their tactical jet drone systems.

Where will the work for the new Kratos contract be performed?

The contract work will be carried out at secure Kratos facilities and at customer locations.

What does the new contract signify for Kratos Defense's market position?

The contract signifies Kratos' continuing leadership and evolution in high-performance unmanned aerial systems.

What type of systems does Kratos specialize in?

Kratos specializes in unmanned systems, satellite communications, cyber security, missile defense, and more.