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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.
On Sept. 9, 2021, Kratos Defense & Security Solutions (Nasdaq: KTOS) reported the successful launch of two Short Range Ballistic Missile (SRBM) targets in support of the Missile Defense Agency and the U.S. Navy during Flight Test Aegis Weapon System 33 (FTM-33). This complex mission, executed on July 24, involved the launch of four SM-6 Dual II missiles against advanced guided ballistic missile targets. Kratos provided the guided missile targets, meeting all test objectives. The president of Kratos’ Defense & Rocket Support Services Division expressed pride in the team's accomplishments.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced that its OpenSpace Platform now supports deployments on the Red Hat OpenStack cloud. This integration aims to enhance the security and scalability of satellite missions. OpenSpace will enable satellite operators to respond more dynamically to changes in network resources, user demand, and potential threats. The platform operates on cloud environments including Microsoft Azure and offers various solutions to improve ground system adaptability and resiliency.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced a successful inaugural flight of its Air Wolf Tactical Drone System at the Burns Flat, Oklahoma Range Facility. The flight demonstrated multiple new payloads, featuring a proprietary AI/autonomy system designed for high-performance jet drones. This range serves as a strategic asset for accelerating drone testing and development. Kratos' President highlighted the importance of government partnerships in advancing technology. The company is positioned competitively with a range of affordable jet drones, aiming to meet government operational needs.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced significant Q2 2021 achievements, delivering products to 23 customers globally in the satellite industry. Their OpenSpace™ family, including OpenSpace quantum® and SpectralNet®, is pivotal in transitioning to virtual ground systems, supporting tens of thousands of satellite passes monthly. Seven new customers engaged with Kratos’ offerings, underscoring demand in both commercial and defense sectors. Products allow for rapid deployment and cost efficiency compared to traditional hardware, enhancing scalability in critical operations.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced its commitment to the Skyborg Vanguard Program, aiming for readiness in 2023. The U.S. Air Force's update highlights Skyborg as an autonomy-focused initiative designed for low-cost, unmanned aircraft operations against adversaries. Kratos President, Steve Fendley, noted the rapid development of the XQ-58A Valkyrie jet, aligning with USAF objectives. The company intends to fulfill Skyborg's requirements for affordable, autonomous platforms capable of generating combat power with minimal logistics.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced that its President & CEO, Eric DeMarco, along with Executive VP & CFO, Deanna Lund, will present at the Canaccord Genuity Virtual Growth Conference on August 11 at 2:30 PM Eastern. A live webcast will be available on the company's website, and the presentation will be archived for 90 days post-event. Kratos specializes in advanced technologies and systems for national security, focusing on affordability and innovation in fields such as unmanned systems and missile defense.
Kratos Defense & Security Solutions (Nasdaq: KTOS) reported second quarter 2021 revenues of $205.1 million, a 20.4% increase year-over-year. The Unmanned Systems segment saw revenues grow by 43.6% to $60.3 million, while the Government Solutions segment generated $144.8 million, up 12.8%. Operating income was $3.3 million, with net income of $1.1 million and adjusted EBITDA of $17.6 million. The company expects a strong second half of 2021, driven by various initiatives despite recent challenges, including lost training contracts and operational impacts from COVID-19.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced that President & CEO Eric DeMarco and Executive VP & CFO Deanna Lund will present at the Jefferies Virtual Industrials Conference on August 4 at 3 PM Eastern. A live webcast will be available on the company’s website, with an archive accessible for 90 days post-event.
Kratos develops transformative technologies for U.S. National Security, specializing in unmanned systems, satellite communications, and hypersonic systems.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will release its Q2 2021 financial results on August 3, 2021, post-market close. A conference call discussing the results will commence at 2:00 PM Pacific Time (5:00 PM Eastern Time). Analysts can join by dialing 866-393-0674 with ID 4751019, while the public can listen by calling 877-344-3935. The call will also be available live on the company's investor relations website, with a replay offered approximately two hours later.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has partnered with North American Wave Engine Corporation to develop the Versatile Air-Launched Platform (VALP), a new air-launched vehicle focused on innovative, cost-effective technologies for aerial systems. This collaboration aims to address the U.S. Air Force's demand for high-impact technologies. VALP's propulsion will leverage Wave Engine's technology, potentially reducing project lead times. This initiative underscores Kratos's commitment to enhancing national security through advanced unmanned systems.
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