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. develops and fields technology, products, systems and software for defense, national security and global markets. News about KTOS commonly covers contract awards and program activity across Kratos Government Solutions and Unmanned Systems, including space ground systems, missile warning and tracking support, defense rocket systems, turbine technologies, microwave products and tactical unmanned aircraft.
Company updates also address financial results, bookings and guidance; production and test milestones for systems such as Firejet and Oriole; hypersonic materials-test infrastructure under Project Helios; completed acquisitions; and board or governance changes.
Kratos Defense & Security Solutions (Nasdaq: KTOS) has achieved C3PAO accreditation by the CMMC Accreditation Body, positioning itself to provide assessments for compliance with the new Cybersecurity Maturity Model Certification (CMMC) required by the U.S. Department of Defense.
The certification process, which has five maturity levels, will be integrated into DoD requests for proposals starting early 2021. As a C3PAO, Kratos can now offer certification assessments and advisory services, enhancing its role in the Defense Industrial Base.
Kratos Defense & Security Solutions (NASDAQ: KTOS) has received a $17.8 million contract from the U.S. Air Force Research Laboratory to advance Low Cost Attritable Aircraft Technology. This award supports the development of unmanned aerial systems, specifically the XQ-58A Valkyrie. Company officials emphasized the importance of this funding in enhancing the capabilities of their drones, which include the Valkyrie and others like Mako and Air Wolf. Kratos aims to lead in affordable, reusable drone technology for national security applications.
Kratos Defense & Security Solutions (NASDAQ: KTOS) successfully completed a significant flight test of the XQ-58A Valkyrie unmanned aerial system (UAS), demonstrating its ability to fly in formation with F-22 and F-35 fighter jets. Conducted at Yuma Proving Ground, this test involved an integrated Advanced Battle Management System team and is a key milestone in developing low-cost force multipliers for military operations. The Valkyrie, designed for diverse missions, emphasizes affordability and rapid capability integration, marking a notable achievement in unmanned systems technology.
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.