Welcome to our dedicated page for Kratos Defense & Security Solutions news (Ticker: KTOS), a resource for investors and traders seeking the latest updates and insights on Kratos Defense & Security Solutions stock.
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) has announced its Autonomous Truck-Mounted Attenuator (ATMA) has been recognized as an 'Infrastructure Gamechanger' by the American Society of Civil Engineers (ASCE) in their 2021 Report Card for American Infrastructure. Developed in collaboration with Royal Truck & Equipment, this driverless technology aims to enhance safety in highway maintenance operations by shielding workers from errant drivers, potentially reducing fatal accidents. Since its 2017 launch, Kratos' ATMA has driven over 2,000 miles and is deployed in multiple states and the UK.
On March 3, 2021, Kratos Defense & Security Solutions (NASDAQ: KTOS) successfully launched its first sounding rocket under the SRP-4 program for the U.S. Space Force from Virginia. This mission, designed to support atmospheric research, was executed in partnership with Space Vector Corporation and New Mexico State University. The Terrier-Terrier-Oriole rocket performed a nominal flight, demonstrating the company's capabilities in advanced vehicle systems and avionics, essential for national security and scientific research.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will present at the JPMorgan Virtual Industrials Conference on March 16, 2021, at 4:30 PM Eastern. CEO Eric DeMarco and CFO Deanna Lund are set to lead the presentation, highlighting the company's innovative technologies for national security.
A live webcast of the event will be accessible on Kratos' website and archived for 90 days post-event. Kratos specializes in unmanned systems, satellite communications, cyber warfare, and more, focusing on providing affordable and transformative technologies for national security.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced a subcontract worth $8.9 million for upgrading six CH-47F simulators at the U.S. Army's 128th Aviation Brigade in Ft. Eustis, Virginia. The project, under USfalcon's OASIS Pool 6 contract, aims to enhance multiple avionics systems and survivability equipment, ensuring the simulators meet the latest CH-47F specifications. This upgrade is crucial for Army readiness, as it integrates advanced training features into the systems, supporting U.S. and allied forces' operational effectiveness.
Kratos Defense & Security Solutions (Nasdaq:KTOS) reported strong financial results for Q4 and fiscal year 2020, with revenues of $206.4 million for the fourth quarter, an increase of 11.5% compared to 2019. Total fiscal revenues reached $747.7 million, up 4.2%. Notably, the Unmanned Systems segment generated revenues of $49.5 million, up 29.2%. However, operating income decreased 3.2% to $9.0 million due to increased expenses. The company ended the year with a cash position of $380.8 million and a backlog of $922.2 million.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has secured a $55 million contract from a National Security Customer, focusing on C5ISR products. This contract, awarded on February 19, 2021, has a five-year performance period and strengthens Kratos’ position in unmanned systems, satellite communications, and missile defense. The President of Kratos' C5ISR Division emphasized the company's commitment to supporting mission-critical requirements, while the CEO highlighted investments aimed at capturing large program opportunities and fostering organic growth.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will release its financial results for the fourth quarter and fiscal year 2020 after market close on February 25, 2021. Management will host a conference call at 2:00 p.m. Pacific Time to discuss the results and operations. Analysts can join by calling 866-393-0674, while the general public can access the call at 877-344-3935. A live webcast will be available on the investor relations website, with a replay accessible two hours after the call concludes.
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) announced the deployment of its Autonomous Truck Mounted Attenuator (ATMA) in eight locations across the U.S. and the UK. Following its success in enhancing worker safety, a ninth deployment is already contracted for this summer, with plans for additional opportunities in 26 more states. The ATMA utilizes military-grade autonomous vehicle technology to reduce risks associated with highway maintenance, providing a safer alternative for workers and demonstrating Kratos's expansion in commercial applications.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has secured a second Cybersecurity Maturity Model Certification (CMMC) Advisory Services contract from Juniper Networks. This contract involves updating Kratos' existing System Security Plan (SSP) to comply with CMMC Level 3 and associated standards. The SSP will include a mapping of security controls and a Plan of Action & Milestones (POA&M) to address gaps identified in a prior assessment. Kratos is now accredited as a C3PAO, enabling it to conduct assessments for organizations seeking CMMC certification.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has secured an additional order for 20 high-performance jet drones and support equipment from a longstanding international client. This order enhances Kratos's production capabilities, which the company had already ramped up in anticipation of future demand. President Steve Fendley highlighted that the increased production rates are exceeding initial expectations, indicating substantial backlog and confidence from customers. However, no further details about the contract award were disclosed due to competitive considerations.
FAQ
What is the current stock price of Kratos Defense & Security Solutions (KTOS)?
What is the market cap of Kratos Defense & Security Solutions (KTOS)?
What does Kratos Defense & Security Solutions, Inc. do?
How is Kratos Defense & Security Solutions, Inc. structured?
What are the core capabilities of Kratos?
What recent achievements has Kratos Defense & Security Solutions, Inc. made?
How many employees does Kratos have?
What is the primary revenue driver for Kratos?
How does Kratos contribute to national defense?
Who should be contacted for investor inquiries?
Where is Kratos Defense & Security Solutions, Inc. headquartered?
What kind of unmanned systems does Kratos develop?
