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.
Kratios Defense & Security Solutions (KTOS) reported Q2 2020 revenues of $170.4 million, down from $187.9 million in Q2 2019, reflecting a $17 million decline in the KGS segment. Adjusted EBITDA decreased to $15.3 million from $19.2 million year-over-year. The company reported a net loss of $0.7 million and a GAAP EPS loss of $0.01. The future outlook is positive, with Q3 revenue guidance set at $195-$205 million and an increase in full-year revenue guidance to $740-$780 million, driven by the recent ASC Signal acquisition.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has unveiled a cutting-edge RF Channel Simulator, designed for high-performance testing in dynamic communication systems. This simulator addresses the complexities of modern satellite and UAV communications, offering up to 600 MHz of instantaneous bandwidth. It enables RF engineers to emulate challenging conditions like fading and Doppler shifts, ensuring reliable communication systems before field deployment. This new technology builds on Kratos' established narrowband models and is already in successful use by partners like Gilat Satellite Networks.
Kratos Defense & Security Solutions (NASDAQ: KTOS) announced that its President & CEO, Eric DeMarco, along with Executive VP & CFO, Deanna Lund, will present at the Jefferies Virtual Industrials Conference on August 5th at 3:00 PM Eastern. A live webcast of the presentation will be accessible via Kratos' website and will be archived for 90 days post-event. Kratos specializes in advanced technology for national security, focusing on unmanned systems, satellite communications, and missile defense.
Kratos Defense & Security Solutions (NASDAQ:KTOS) announced a five-year IDIQ contract worth up to $400 million for the U.S. Air Force's Skyborg program. This contract focuses on the development and delivery of air vehicle prototypes. Work will occur at Kratos facilities in Oklahoma and California. Steve Fendley, President of Kratos Unmanned Systems Division, emphasized the program's role in maintaining U.S. technological superiority. The company aims to deliver affordable unmanned technologies, aligning its mission with the Skyborg initiative.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced recent contract awards totaling approximately $30 million for Command, Control, Computing, Communication, Combat, Intelligence, Surveillance, and Reconnaissance (C5ISR) Systems, primarily in missile defense. The majority of the work will occur over the next 24 months at secure Kratos facilities. Company officials expressed confidence in meeting mission-critical needs, highlighting Kratos' positioning as a leading technology solutions provider for the Department of Defense and national security customers.
On June 30, 2020, Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the acquisition of CPI ASC Signal Division Inc., enhancing its space ground systems business. The acquisition, finalized after receiving regulatory approval, adds market-leading earth station antennas, crucial for government and commercial communications. ASC's product range includes radar antennas for air traffic control and specialty antennas. Kratos aims to leverage this acquisition to expand its satellite communications offerings and bolster its position in the national security sector.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a public offering of 13,500,000 shares at $16.25 each, expected to raise approximately $209 million. The offering will close on June 23, 2020, pending customary conditions. Funds will be used for general corporate purposes and potential acquisitions to drive future growth. The underwriters also have a 30-day option to purchase an additional 2,025,000 shares. Goldman Sachs is leading the offering, which is backed by a previously effective shelf registration statement.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has announced a proposed public offering of $200 million of its common stock, with an additional $30 million available through an underwriters' option. The net proceeds will be allocated for general corporate purposes, including strategic acquisitions and operational growth. Goldman Sachs is the lead manager for the offering. This move is part of Kratos’ strategy to enhance its production capabilities and overall market positioning.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a $46 million Other Transaction for Prototype Agreement (pOTA) with the U.S. Army's Rapid Capabilities and Critical Technologies Office. This three-year project aims to establish a Directed Energy Testbed focusing on High Energy Laser (HEL) and High Power Microwave (HPM) systems to counter Unmanned Aerial Systems (UAS). The project will enhance DE test methodologies and deploy reduced Size, Weight, and Power (SWaP) HEL and HPM systems at Kratos facilities and government locations in Huntsville, AL.
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) will acquire CPI ASC Signal Division, Inc. for $35 million in cash. This acquisition enhances Kratos' antenna systems capabilities for satellite communications and defense applications. With 60 years of innovation, ASC's high-performance antennas will increase Kratos' market offerings, including transportable and fixed earth station antennas. The deal, expected to close within 60 days pending approvals, aims to meet growing demand for satellite ground infrastructure essential for U.S. defense missions and commercial uses.