Kratos Defense & Security Solutions, Inc. (KTOS) recently announced that its Unmanned Systems division has secured a modification contract involving its BQM-177A aerial target drones. The award has been provided by the U.S. Navy.The contract is valued at $57.7 million. Per the terms of the deal, Kratos will manufacture and supply 70 BQM-177A Surface Launched Aerial Targets and 70 Rocket-Assisted Takeoff attachment kits. The company is also responsible for providing related technical and administrative data ...

SAN DIEGO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a technology company in Defense, National Security and Global Markets, is pleased to congratulate Stuart Daughtridge, Kratos VP of Advanced Technology, on being named a finalist for Via Satellite's 2023 Satellite Executive of the Year Award. Nominees are chosen based on their contributions to the global satellite markets, technologies, business practices, services, innovations, advocacy or any combination t ...

SAN DIEGO, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. ("Kratos") (NASDAQ:KTOS), a Technology Company in the Defense, National Security and Global Markets, today announced that it intends to offer for sale $300,000,000 of shares of its common stock in an underwritten offering pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The underwriters will have a 30-day option to purchase up to an additional $45,000,000 ...

Kratos Defense & Security Kratos Defense & Security KTOS $20.32 $0.452.17%18% IBD Stock Analysis Retreats back below 21.42 buy point. Could form a handle. Composite Rating 91/99 Industry Group Ranking 35/197 Emerging Pattern CupCupA cup-shaped pattern with no handle. Must be at least six weeks long or as long as a year. Buy point is 10 cents above the left-side high. Kratos Defense & Security Solutions is the  IBD Stock of The Day for Tuesday. KTOS stock is working toward an entry as shares trade near the ...

shaunl Investment Thesis Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) shares have performed impressively over the last year, gaining more than 74% and outperforming the S&P 500 by a margin of more than 53%. Seeking Alpha Despite this solid performance, I am bullish on the stock due to its strong financial performance, competitive advantage, and diverse portfolio. From a technical standpoint, the company is in a strong upward momentum and my price target is $32.82. Financial Performance Considerin ...

Shares of Kratos Defense & Security Solutions, Inc. (KTOS) surged a solid 17% to reach $20.82 on Feb 15, reflecting investors’ optimism following the company’s latest report.KTOS reported fourth-quarter 2023 adjusted earnings of 12 cents per share, up 50% from 8 cents reported in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of 8 cents by 50%.Kratos Defense reported GAAP earnings of 2 cents per share against a loss of 7 cents per share in the fourth quarter of 2022.For ...

Financial Data and Key Metrics - Revenues for Q4 2023 were $273.8 million, exceeding the estimated range of $237 million to $257 million, driven by strong performance in space and satellite, turbine technologies, C5ISR, and microwave products businesses [175] - Adjusted EBITDA for Q4 2023 was $29.1 million, above the estimated range of $19 million to $23 million, reflecting higher revenues and a favorable revenue mix [176] - Free cash flow for Q4 2023 was $48.1 million after $19.3 million in CapEx, driven by accelerated customer milestone payments in turbine technologies, unmanned systems, and space and satellite businesses [177] - Full-year 2023 revenues were $1.037 billion, with an organic growth rate of 12.6% YoY, and adjusted EBITDA of $95.4 million [179][180] Business Line Data and Key Metrics - The unmanned systems business is expected to generate $260 million to $270 million in revenues in 2024, reflecting 20% to 25% organic growth over 2023 [96] - The space business, impacted by the CRA, is forecasted to grow at a lower rate than the overall KGS segment, which is expected to grow at 6% organically in 2024 [189] - The microwave electronics business is performing strongly, particularly in Israel, with record backlog and revenue levels due to increased demand for missile systems [19][20][21] - The engine business, including turbojets and turbofans, is seeing incredible demand, with a strong pipeline for Made in the USA engines [8] Market Data and Key Metrics - The Israeli market is a key driver for the microwave electronics business, with the company being a primary provider for Israeli missile and radar systems [19][21] - The U.S. federal government accounted for 69% of Q4 2023 revenues, with 13% from commercial customers and 18% from foreign customers [85] - The international target drone business is not tied to the U.S. federal budget and is expected to perform well, with higher margins compared to domestic sales [65] Company Strategy and Industry Competition - The company is focusing on affordability and rapid development in the drone market, positioning itself as a low-cost, rapid provider of jet drones [99][100] - Kratos is partnering with prime system integrators to increase the probability of winning contracts and reducing financial risk [15][118] - The company is investing in growth areas such as high-performance jet drone systems, hypersonic rocket motors, and next-generation jet engines [112] - Kratos is establishing production facilities for jet engines and expanding its microwave electronics manufacturing capabilities [154][157] Management Commentary on Operating Environment and Future Outlook - The company expects Q3 and Q4 2024 to be stronger than the first half of the year, driven by government contracting activities once the CRA is resolved [172] - The threat environment is increasing, and the company believes that affordability will be a key factor in winning contracts in a potentially tightening budget environment [43][44] - The company is forecasting 10% organic revenue growth for 2024, with significant investments in CapEx, particularly in unmanned systems and space businesses [112][181] Other Important Information - The company's backlog is $1.2 billion, with an opportunity pipeline of approximately $11 billion, providing confidence in the 2024 financial forecast [136] - Kratos is investing in a Material Production Center of Excellence and expanding its global satellite sensor network, with costs expected to be recovered under customer contracts [182] - The company is not planning any acquisitions and is focused on executing existing programs and making necessary investments to win new opportunities [171] Q&A Session Summary Question: Growth profile of KGS vs KUS in 2024 - The unmanned systems business is expected to be the biggest growth segment in 2024, particularly in drones, with potential to exceed expectations if the budget is approved [4] - The space business within KGS is expected to see growth in 2025 as programs transition to production [6] Question: Pipeline increase and moving pieces - The pipeline has increased by $700 million sequentially, with significant growth in the C5ISR, turbine, and microwave businesses [7] - The engine business has an incredible pipeline, with strong demand for turbojets, turbofans, and rocket engines [8] Question: CapEx increase and normalization - The $20 million increase in CapEx is driven by investments in microwave business, Valkyrie production, and the satellite network, and is not expected to be recurring [10] Question: Microwave systems backlog - The microwave electronics business is at record backlog and revenue levels, driven by demand from Israel for missile systems [19][20][21] Question: Impact of BlueHalo and Eclipse merger - The merger does not impact the $160 million OpenSpace award, and the SCAR program is expected to be a key driver for Kratos in 2025 [26] Question: Margin expectations for tactical drones - Margins for tactical drones are expected to be in the 7% range during development, with potential for expansion in full-rate production [62][74] Question: Space business inflection in 2025 - The space business is expected to see an inflection in 2025, with increased deliveries and higher margins, driven by production ramp-ups [77][78] Question: Valkyrie production and CapEx - CapEx related to Valkyrie production in 2024 is approximately $20 million, with production expected to continue into 2025 [63] Question: Competitive landscape in tactical drones - Kratos is focused on affordability and rapid development, with a different model compared to competitors like Australia's Ghost Bat program [165][167] Question: Non-DoD business growth - 30% of Kratos' business is not tied to the DoD, with strong performance in the Israeli microwave electronics business and commercial satellite contracts [168]

For the quarter ended December 2023, Kratos (KTOS) reported revenue of $273.8 million, up 9.8% over the same period last year. EPS came in at $0.12, compared to $0.08 in the year-ago quarter.The reported revenue represents a surprise of +8.63% over the Zacks Consensus Estimate of $252.05 million. With the consensus EPS estimate being $0.08, the EPS surprise was +50.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

SAN DIEGO, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a technology company in the defense, national security and global markets, announced today that it is the single recipient for the Command and Control (C2) System Consolidated (CCS-C) Sustainment and Resiliency (C-SAR) indefinite-delivery/indefinite-quantity (IDIQ) contract with a maximum value of $579 million, if all options are exercised. The start date is December 1, 2023, with options going to May 31, 2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Commission file number 001-34460 KRATOS DEFENSE & SECURITY SOLUTIONS, INC. (Exact name of Registrant as specified in its charter) Delaware 13-3818604 (State or other jurisdiction of incorporation ...