Welcome to our dedicated page for Kratos Defense & Sec Solutions news (Ticker: KTOS), a resource for investors and traders seeking the latest updates and insights on Kratos Defense & Sec Solutions stock.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) generates frequent news related to defense, national security and commercial technologies. The company’s announcements highlight developments in unmanned systems, hypersonics, propulsion, space and satellite ground systems, microwave electronics, and C5ISR hardware. This news page aggregates those updates so readers can follow how Kratos’ activities and contracts evolve over time.
Recent news has covered the opening of new facilities for hypersonic system manufacturing and payload integration in Princess Anne, Maryland, expansion of operations in Birmingham, Alabama to support products such as HORUS, CRADLE and UltraSpec, and a new propulsion manufacturing facility in Auburn Hills, Michigan for Spartan military-grade turbojet engines. Kratos has also reported on a new microwave electronics facility in Jerusalem, a PT6A and PT6T engine overhaul facility in Vancouver, British Columbia, and additional investments in the U.S. defense industrial base.
Other announcements include a collaboration with Northrop Grumman that uses Kratos’ Valkyrie uncrewed aerial system in a U.S. Marine Corps collaborative combat aircraft program, contracts for air defense and C5ISR system hardware production, and a letter of intent to L3Harris Technologies for Zeus hypersonic solid rocket motors. Kratos also issues news on its EPOCH command and control software for satellites, capital raising transactions and its reinvestment-focused capital allocation philosophy.
Investors, analysts and industry observers can use this KTOS news feed to review company press releases, contract awards, facility openings, technology milestones and strategic agreements as they are reported, providing context on Kratos’ role in defense, national security and related commercial markets.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has received an $8.6 million task order from the Air Force Research Laboratory for its Advanced Turbine Technologies for Affordable Mission program. This contract mandates the design, construction, assembly, and testing of a cost-effective turboshaft engine for Group 3 UAVs, which will also support hybrid electric aircraft. Successful completion follows prior concept studies, aiming to enhance the engine's power-to-weight ratio and durability. KTT, based in Florida, will oversee the project.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has been designated as one of the first two CMMC Third Party Assessment Organizations (C3PAO) by the federal government. This allows Kratos to conduct CMMC Level 1-3 assessments once the necessary government preparations are completed. The CMMC is a new security certification standard developed by the Department of Defense to protect Federal Contract Information and Controlled Unclassified Information. Kratos has extensive experience in compliance, risk management, and cyber operations.
On June 10, 2021, Kratos Defense & Security Solutions (Nasdaq: KTOS) announced its participation in the successful Exercise At-Sea Demonstration/Formidable Shield 2021, supporting NATO and the U.S. Navy's Sixth Fleet. This exercise featured the deployment of Kratos missile targets and aerial drones, involving around 3,300 personnel and 16 ships from 10 countries. Kratos launched two advanced ballistic missile targets, surpassing its previous launch record in the UK. The exercise aims to enhance missile defense interoperability among NATO forces, with data collected for future improvements.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has successfully completed the Critical Design Review for an advanced space radio monitoring system for Qatar's Communications Regulatory Authority. This turnkey project includes design, installation, and integration to safeguard the satellite spectrum. The system features fixed and mobile units to monitor satellite downlinks, enhancing regulatory capabilities. Kratos aims to provide reliable satellite services while mitigating interference risks. The project reflects Kratos' extensive experience in spectrum monitoring for government agencies.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the delivery of products to 24 global customers in Q1 2021, enhancing the satellite industry's shift towards virtualized ground systems. The OpenSpace quantum and SpectralNet products, part of Kratos' OpenSpace™ solutions, have been widely adopted, enabling the digital transformation of satellite operations. This technology allows for rapid deployment and flexibility, significantly reducing operational costs and time compared to traditional hardware systems.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the appointment of Deanna Hom Lund to its Board of Directors. Lund has served as Executive Vice President and CFO since April 2009, bringing extensive experience from Titan Corporation and Arthur Andersen. The Board, now expanded to nine members, commended Lund's strategic leadership in finance. Her addition is expected to bolster Kratos' efforts in offering affordable technology for national security. The company anticipates filling another board vacancy within 18 months.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced successful flight tests of its UTAP-22 Mako unmanned aircraft, marking a historic milestone as the closest a manned fighter has flown to an unmanned aircraft under autonomous control in DOD history. Conducted from April 29 to May 5, 2021, these tests utilized the Skyborg autonomy core system (ACS) to enhance military capabilities. The tests demonstrated the integration of unmanned and manned aircraft, significantly advancing operational effectiveness.
Kratos Defense & Security Solutions (NASDAQ: KTOS) will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18, 2021, at 2:15 PM Eastern. The presentation will be made by the company's President & CEO, Eric DeMarco, and Executive VP & CFO, Deanna Lund. A live webcast of this event can be accessed via the company's website, with an archived version available for 90 days post-event. Kratos specializes in innovative technologies for national security, including unmanned systems and cybersecurity.
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.