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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 a contract award of $14.75 million from the U.S. Navy for software maintenance and updates of the BQM-177A Subsonic Aerial Targets (SSAT). This five-year Cost-Plus-Fixed-Fee Indefinite Delivery Indefinite Quantity contract supports the SSAT aircraft's evolution to meet modern threats. Steve Fendley, President of the Unmanned Systems Division, emphasized the importance of this contract in enhancing training and readiness for military operations.
On August 24, 2022, Kratos Defense & Security Solutions (NASDAQ: KTOS) announced that its Defense & Rocket Support Services division successfully supported the intercept test of a short-range ballistic missile (SRBM) during the Pacific Dragon 22 exercise. The interception was achieved by the USS Fitzgerald using a Standard Missile 3 (SM-3) Block IA. The SRBM target used, known as the Aegis Readiness Assessment Vehicle Type B (ARAV B), has a proven track record in testing. Kratos aims to reduce costs and time for DoD programs, emphasizing its commitment to national security.
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.
Kratos Defense reported Q2 2022 revenues of $224.2 million, a 9.3% increase year-over-year, despite supply chain disruptions and increased costs impacting approximately $14.5 million in revenues. The company incurred a net loss of $4.7 million, including a $5.5 million litigation charge. Adjusted EBITDA stood at $17.7 million. The Government Solutions Segment reported revenues of $167.8 million, up 15.9%, while the Unmanned Systems Segment suffered a $5.0 million operating loss. Kratos anticipates Q3 and FY 2022 revenue impacts of $10-$14 million due to ongoing challenges.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will report its Q2 2022 financial results on August 4, 2022, after market close. A conference call to discuss the results and operational updates will take place at 2:00 PM Pacific (5:00 PM Eastern). Investors can join the call via registration on the company's website. Kratos specializes in technologies for national security, including unmanned systems and cyber security.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a $6.8 million task order contract for the development of a low-cost engine as part of the Air Force Research Laboratory's ACOLLET program. The Kratos Turbine Technologies Division will perform key component testing and engine optimization studies in Florida. The project aims to enhance mission capability while reducing costs. Kratos is committed to supporting the United States military and investing in next-generation turbine engine technologies.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has secured a contract from the U.S. Army for a virtualized SATCOM ground system based on its OpenSpace Platform. This system aims to enhance interoperability and support multi-mission capabilities, aligning with the Army's modernization goals. By deploying software-defined networking, Kratos’ solution can expedite network implementations and reduce costs. The initiative supports a 'fighting SATCOM' strategy, which is critical for adapting to dynamic military conditions.
Kratos Defense & Security Solutions (NASDAQ: KTOS) plans to expand its operations in Birmingham, Alabama, creating 76 new jobs and investing approximately $8.6 million over the next five years. This expansion follows the acquisition of Southern Research's engineering division for $80 million, forming the Kratos SRE unit focused on hypersonics and national security. With an average salary of $95,000, the new roles will enhance Kratos’ capabilities in advanced technology related to space and defense.
On July 18, 2022, Kratos Defense & Security Solutions (NASDAQ: KTOS) announced successful flights with two XQ-58A Valkyrie aircraft for the USAF Skyborg Program. This initiative involves collaboration with various U.S. Air Force entities, showcasing the aircraft's tactical applications and operational concepts. The XQ-58A, developed with the Air Force Research Laboratory, aims for multiple mission applications. Kratos aims to innovate in national security through affordable technology solutions and specialized unmanned systems.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a contract to construct a cutting-edge C-band Geostationary Orbit Satellite Spectrum Monitoring Facility in collaboration with SKY Perfect JSAT Corporation for Japan's Ministry of Internal Affairs and Communications. This facility aims to mitigate 5G interference and enhance spectrum reliability, addressing the global challenge of increasing space traffic. The integrated system will utilize Kratos' advanced hardware and software for comprehensive monitoring and data analysis, ensuring interference-free satellite services.
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