Kratos Receives Initial Approximate $4 Million in Single Award Funding on New C5ISR Program Award with Total Potential $75 Million Program Value

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) has secured approximately $4 million in initial funding for a new C5ISR program, which has a total potential value of around $75 million. This program enhances Kratos' capabilities in areas like unmanned systems, satellite communications, and missile defense for national security. The award reflects the strong demand driven by the need to address peer threats. Company leadership emphasized the importance of rapid development and customer-centric solutions to meet critical national security requirements.

Positive

• Secured initial funding of approximately $4 million for a new C5ISR program.
• Total potential program value of about $75 million enhances future revenue prospects.
• Recognition of strong demand for Kratos' technology due to national security needs.

Negative

• None.

SAN DIEGO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received the initial, approximate $4 million in funding on a new, single award, Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance & Reconnaissance (C5ISR) program, with a total potential program value of approximately $75 million, including production. Kratos C5ISR Business is an industry leader in products, systems and solutions supporting unmanned aerial vehicle, space & satellite communications, missile, radar, missile defense, high power directed energy, CBRNE and other C5ISR platforms and systems for national security programs of the United States and its allies. Work under this new program award will be performed at secure Kratos production and manufacturing facilities. Due to customer, competitive, security related and other considerations, no additional information will be provided related to this program.

Tom Mills, President of Kratos C5ISR Division, said, “The recapitalization of strategic weapon systems to address peer threats to the United States and its allies is driving strong demand for Kratos products and systems, including as related to unmanned aerial systems, satellite communications and missile and radar systems.  We are honored to have received this award from this critical national security related customer.”

Eric DeMarco, President and CEO of Kratos, said, “Kratos is making the internally funded investments required to address our national security customers’ most important and time sensitive requirements, with rapid development and fielding of systems that are technologically advanced and relevant to today’s environment.  We believe that this new, sole source award is representative of Kratos’ - listen to the customer, make the investment and provide the solution - organic growth approach.” 

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 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 is the recent funding announcement from Kratos Defense (KTOS)?

Kratos Defense announced the receipt of approximately $4 million in initial funding for a new C5ISR program, with a total value potential of about $75 million.

How does Kratos' new C5ISR program impact its future revenue?

The C5ISR program, with a total potential value of approximately $75 million, could significantly bolster Kratos' future revenue streams.

What are the key products involved in the C5ISR program by Kratos (KTOS)?

The C5ISR program focuses on unmanned systems, satellite communications, missile defense, and radar systems for national security.

Who commented on the C5ISR program funding for Kratos (KTOS)?

Tom Mills, President of the Kratos C5ISR Division, and Eric DeMarco, President and CEO, commented on the program emphasizing the significance of addressing national security requirements.