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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 May 6, 2021, Kratos Defense & Security Solutions (Nasdaq: KTOS) announced it secured multiple awards exceeding $46 million to enhance Space Domain Awareness (SDA) efforts. As space becomes increasingly congested, the need for advanced technologies to identify and respond to threats is critical. Kratos is leveraging its OpenSpace software, which allows rapid reconfiguration of satellite ground systems, to meet these challenges. This initiative underscores the company's commitment to providing comprehensive solutions for government and commercial satellite protection.
Kratos Defense & Security Solutions (Nasdaq:KTOS) reported Q1 2021 revenues of $194.2 million, a 15.0% increase from Q1 2020. The Unmanned Systems segment saw revenues rise by 33.1% to $55.9 million. Cash flow from operations reached $22.7 million. Operating income was $4.9 million, net income was $1.9 million, and adjusted EBITDA totaled $18.1 million. The company reaffirmed its full-year revenue guidance of $810 - $850 million. Despite a book-to-bill ratio of 0.8 to 1 for the quarter, total backlog rose to $892.9 million.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced the successful completion of flight tests of its Skyborg autonomy core system (ACS) using the UTAP-22 Mako unmanned vehicles at Tyndall AFB, Florida. This achievement marks Milestone 1 of the Autonomous Attritable Aircraft Experimentation campaign, showcasing the ACS's foundational behaviors and basic aviation capabilities. The Skyborg Vanguard team aims to develop full-mission autonomy for the U.S. Air Force, integrating unmanned systems for future operational advantages.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will be presenting at the Goldman Sachs Virtual Conference on May 11, 2021, at 11:20 AM Eastern Time. The presentation will feature Eric DeMarco, President & CEO, and Deanna Lund, Executive VP & CFO. A live webcast will be available on their website, which will also archive the event for 90 days. Kratos focuses on developing transformative technology and systems for national security, specializing in areas like unmanned systems and cyber warfare.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will release its Q1 2021 financial results on May 5, 2021, after market close. The management team will hold a conference call at 2:00 p.m. Pacific Time to discuss operations and financial outcomes. Analysts and institutional investors can participate by calling 866-393-0674, while the general public can dial 877-344-3935 for listen-only access. The call will also be streamed live on the company’s investor relations website. A replay will be available post-call.
Kratos Defense & Security Solutions (Nasdaq: KTOS) successfully demonstrated an integrated SATCOM capability that enhances real-time Situational Awareness for secure environments. The demonstration, part of a multi-national Joint All Domain Command and Control effort, highlighted features like roaming among networks and electromagnetic interference support. Funding came from the Air Force Life Cycle Management Center, emphasizing Kratos' pivotal role in boosting military satellite communication resilience and efficiency.
Kratos Defense & Security Solutions (Nasdaq: KTOS) secured over $30 million in follow-on awards to enhance space-related U.S. national security initiatives. The funding aims to bolster system performance through advanced technologies. Senior VP Frank Backes emphasized Kratos' commitment to technological modernization, while President Phil Carrai highlighted the company's role in integrating commercial space advancements. Despite the positive outlook, the press release lacks detailed financial metrics and future projections, leaving investors with limited insights.
Kratos Defense & Security Solutions (NASDAQ:KTOS) announced the successful completion of the XQ-58A Valkyrie's sixth flight test, marking its first release from the internal weapons bay on March 26, 2021. This milestone demonstrates the Valkyrie's capability as a low-cost, multi-mission unmanned air vehicle developed in collaboration with the Air Force Research Laboratory. The recent tests included the release of the ALTIUS-600 small unmanned aircraft system, enhancing the Valkyrie's operational capabilities. Kratos received a $37.7 million contract in December 2020 for further integration and testing of the system.
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