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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 (Nasdaq: KTOS) announced its subsidiary, Florida Turbine Technologies (FTT), will lead engine design for Boom Supersonic's Symphony propulsion system, targeted for the Overture supersonic airliner. The Symphony system aims for net zero carbon emissions and compliance with Chapter 14 noise standards, enhancing efficiency by 10% and increasing lifespan by 25%. FTT will apply its expertise from military engines and collaborate with GE Additive and StandardAero. This partnership is viewed as strategically significant for attracting top engineering talent.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the launch of its OpenSpace Channelizer and Combiner, a virtual solution for satellite ground operations. This innovation enables effective signal management for software-defined satellites and LEO constellations, allowing rapid configuration changes that traditional hardware cannot match. With applications in SATCOM, Earth Observation, and more, notable user Intelsat plans to leverage these tools to enhance service provisioning. Kratos positions the OpenSpace Platform as a digital transformation tool for modern satellite operations.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has secured a subcontract for the Multi-Service Advanced Capability Hypersonics Test Bed (MACH-TB) program, awarded by the Naval Surface Warfare Center. This initiative aims to enhance the U.S. capacity for hypersonic flight testing through a cost-effective test bed platform. By leveraging commercial infrastructure, the program will enable rapid technology maturation for various military hypersonic projects. Kratos will apply its expertise from its recent acquisition of Southern Research Engineering to support this endeavor effectively.
Kratos Defense & Security Solutions (KTOS) reported Q3 2022 revenues of $228.6 million, up 14% year-over-year. Despite this growth, the company faced an operating loss of $3.6 million and a net loss of $8.0 million, including a non-recoverable cost charge of $6.4 million. The book-to-bill ratio stands at 1.1. Ongoing challenges include supply chain disruptions and labor shortages, impacting revenue recognition. Management revised fiscal guidance due to expected delays and inflation pressures, forecasting 10% revenue growth for 2023.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has successfully completed a flight of its XQ-58A Valkyrie aircraft as part of the Block 2 Valkyrie Maturation Program. This test demonstrated the aircraft's enhanced capabilities, including higher flight, longer range, and heavier mission weight. Key advancements include autonomous landing in a simulated loss of communication and secure encrypted communications during missions. The flight marks a significant milestone in supporting the Air Force Research Laboratory’s Autonomous Collaborative Enabling Technologies portfolio. Kratos continues to focus on affordable, high-performance unmanned systems.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will announce its third-quarter 2022 financial results on November 3, 2022, after market close. A conference call for discussing the results will follow at 2:00 p.m. Pacific Time. Investors and participants can access the call via the company's website after registration. Kratos focuses on providing affordable technology solutions for national security, including unmanned systems and cyber security, rapidly bringing innovations to market.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has successfully demonstrated advanced capabilities of its Collaborative Combat Aircraft (CCA) in flight tests since 2015. The CCAs, which range from 350 to 6000 pounds, are designed for high-maneuverability, stealth, and low operational costs, making them suitable for large-scale military operations.
These systems have validated key mission functionalities, including autonomous navigation and multi-user communications. The DoD recognizes the importance of mass deployment of CCAs in future conflicts.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced successful flight demonstrations of its Collaborative Combat Aircraft (CCA) family, showcasing advanced capabilities since 2015. The CCA systems, varying from 350 to 6000 pounds and with ranges over 3,000 miles, are designed for cost-effective high mass operations. Key features include autonomous navigation, manned-unmanned teaming, and networking capabilities. The DoD emphasizes the significance of these attributes for military operations. Kratos is committed to producing affordable, effective solutions for modern defense challenges.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has been nominated as a finalist for the Outstanding Immersive Technology Category at the 2022 Military Simulation and Training Awards for its Mixed Reality Mission Readiness Training (MRT) system. The MRT system, developed for the Air Force Global Strike Command, features a containerized immersive environment that improves mission readiness rates and integrates both air and ground forces in training exercises. This recognition highlights Kratos’ leadership in advanced military training technologies.
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