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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) has secured an additional $38,691,360 from the U.S. Navy for Lot 2 of its Full Rate Production (FRP) contract. This contract includes 48 BQM-177A Subsonic Aerial Targets and technical data. President Steve Fendley noted the SSAT's performance is critical for achieving Full Operational Capability (FOC) in Fiscal Year 2023, highlighting the team's adaptability during the pandemic. The company continues to innovate in various sectors including unmanned systems and missile defense.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has secured a contract worth $37.77 million from the AFLCMC/WA for the Skyborg Delivery Order 2. This contract aims to integrate, test, and deliver the XQ-58A Valkyrie unmanned aircraft. The project includes three phases of design and flight testing, focusing on enhancing the application of unmanned aircraft and artificial intelligence in military missions. The XQ-58A has been operational since March 2019, showcasing Kratos' commitment to advancing military technology.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has acquired 5-D Systems, a CMMI Level 3 Systems and Software Engineering firm. This acquisition strengthens Kratos' capabilities in unmanned systems and positions it strategically in Austin, Texas, a hub for defense technology. 5-D Systems, with over 20 years of experience, has collaborated with Kratos on several programs, enhancing their engineering capabilities for tactical and target systems. The acquisition aligns with Kratos' commitment to affordability and technological advancement in national security solutions.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced the delivery of its 100th BQM-177A Subsonic Aerial Target, marking a milestone in its third Low Rate Initial Production contract. The delivery is part of a successful year, overcoming COVID-19 challenges, with a new $29.2 million Full Rate Production contract awarded for 35 additional units. The operational site at Pacific Missile Range Facility in Hawaii is set to enhance anti-ship missile training. The program is on track to achieve Full Operational Capability by the end of the fiscal year.
Kratos Defense & Security Solutions has introduced its Aircrew Combat Mission Training (ACMT) system, enabling mixed reality training for air and ground crews. The system combines a Multi-Position Aircrew Virtual Environment Trainer (MP-AVET) with a Ground Party Simulator (GPS), creating realistic combat scenarios. This immersive platform enhances training effectiveness while saving costs on flight time and ammunition. It accommodates multiple aircraft types and supports various crew roles simultaneously, ultimately improving mission preparedness and team coordination.
Kratos Defense & Security Solutions (KTOS) reported Q3 2020 revenues of $202.0 million, a 9.7% increase from $184.1 million in Q3 2019. Adjusted EBITDA rose 20.6% to $24.6 million, and operating income increased 10.4% to $12.7 million. The Unmanned Systems Segment saw revenues of $53.5 million, up 17.1% year-over-year. Guidance for 2020 is affirmed at revenues between $740 million and $780 million. The company cites ongoing demand for tactical drones and expects new contract awards pending budget approvals.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced it will release its third-quarter 2020 financial results on October 29, 2020, after market close. A conference call discussing these results will be held at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Analysts can participate by calling 866-393-0674 with ID 7384817, while the public can join via 877-344-3935. The call will also be streamed live on the company's investor relations website. Kratos focuses on affordable technology for national security customers, specializing in unmanned systems, cyber security, and missile defense.
Kratos Defense & Security Solutions (Nasdaq: KTOS) launched two new Virtual Network Functions (VNFs) for its OpenSpace platform, revolutionizing satellite ground systems through Software-Defined Networking (SDN). The new VNFs, OpenSpace WAN Transport Protector and OpenSpace Stream Processor/Recorder, enhance data transfer reliability and support real-time telemetry recording. Additionally, Microsoft Azure is utilizing these VNFs in its Ground Station-as-a-Service, showcasing their industry relevance. This innovation represents a significant step toward more dynamic, scalable space operations.
Kratos Defense & Security Solutions (NASDAQ: KTOS) introduced OpenSpace™, a revolutionary software platform enabling satellite operators and Ground-as-a-Service providers to establish dynamic ground systems. This technology, which employs Software-Defined Networking (SDN), allows for the virtualization of hardware components, enhancing adaptability and responsiveness in satellite operations.
OpenSpace also integrates various functionalities, such as the OpenSpace Controller for orchestration, and the OpenSpace OpsCenter for unified management, positioning Kratos as a leader in modernizing ground networks.
Kratos Defense & Security Solutions (NASDAQ: KTOS) participated in North Dakota's Innovation Day, showcasing its Autonomous Truck-Mounted Attenuator (ATMA), a driverless mobile crash barrier aimed at enhancing road work zone safety. Funded by a Federal grant, North Dakota's pilot program marks its sixth state adoption of this life-saving technology. With over 12 crash-related fatalities weekly in U.S. road work zones, Kratos' ATMA could potentially save 700 lives annually. Steve Fendley emphasized the commitment to advancing affordable unmanned technologies for public safety.
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