KRATOS DEFENSE & SECURITY SOLUTIONS (KTOS) Company Report

Kratos Defense & Security Solutions, Inc. priced an underwritten offering of 14,285,714 shares of its common stock at a public offering price of $84.00 per share.
The offering is expected to result in approximately $1,172,999,977 in net proceeds for Kratos.
Kratos plans to use the net proceeds for capital expenditures, new product and system development, strengthening its balance sheet, funding the recent acquisition of Nomad and pending acquisition of Orbit, and general corporate purposes.
The offering is expected to close on March 2, 2026.

1 day ago

Press Release

Kratos Prices Public Offering

KTOS

New Projects/Investments

M&A

Kratos priced an underwritten offering of 14,285,714 common shares at $84.00 each, aiming to raise approximately $1.173 billion.
The net proceeds are intended to fund capital expenditures, new product/system/software development, strengthen the balance sheet, and finance recent and pending acquisitions including Nomad and Orbit.
Following the announcement, KTOS shares experienced a decline of about 7% in Friday morning trading and roughly 4.5% in after-hours trading.
Despite solid liquidity (current ratio around 4.3) and low debt (debt/equity near 0.07), analysts note shrinking profitability margins and rich valuation metrics for Kratos.

1 day ago

Bloomberg

Kratos Defense & Security Solutions Announces Proposed Public Offering of Common Stock

KTOS

New Projects/Investments

M&A

Kratos Defense & Security Solutions, Inc. intends to offer for sale $1,000,000,000 of shares of its common stock in an underwritten offering.
The underwriters will have a 30-day option to purchase up to an additional $150,000,000 of shares of common stock from Kratos.
Kratos expects to use the net proceeds to finance customer and program targeted acquisitions, fund investments and capital expenditures related to National Security priorities, and for general corporate purposes.
The proposed offering is subject to market and other conditions, and there is no assurance that it will be completed on the anticipated terms.

1 day ago

Press Release

Kratos Defense & Security Solutions Reports Strong Q4 2025 Results and Provides Robust 2026 Guidance

KTOS

Earnings

Guidance Update

New Projects/Investments

Kratos Defense & Security Solutions reported Q4 2025 revenues of $345.1 million, exceeding estimates, with 20% year-over-year organic revenue growth and an Adjusted EBITDA of $34.1 million. The company also achieved a 1.3 to 1 book-to-bill ratio and a record backlog of $1.573 billion.
The company provided full year 2026 revenue guidance of $1.59 billion-$1.675 billion, reflecting an organic growth rate of 12.7%-18.5% over 2025 actual performance. Q1 2026 is expected to be the lowest quarter for revenue and Adjusted EBITDA.
Kratos' hypersonic franchise is a significant growth driver, with revenues expected to double in 2026 over 2025 to approximately $400 million and potentially increase over 75% again in 2027 to approximately $700 million. Additionally, the space and satellite business secured an initial approximate $500 million program award.
Kratos is making substantial investments, with forecasted capital expenditures of $135 million-$145 million for 2026, including approximately $50 million for the Prometheus joint venture. The company is also expanding its engine and propulsion system businesses, with a new 40,000 engine per year capacity facility in Michigan.

4 days ago

Transcript

Kratos Defense & Security Solutions Reports Strong Q4 2025 Results and Provides Optimistic 2026 Guidance

KTOS

Earnings

Guidance Update

New Projects/Investments

Kratos Defense & Security Solutions exceeded its Q4 2025 financial objectives, achieving 20% year-over-year organic revenue growth and a 1.3 to 1 book-to-bill ratio, resulting in a record backlog of $1.573 billion and a record opportunity pipeline of $13.7 billion.
The company provided full year 2026 revenue guidance of $1.59 billion-$1.675 billion, reflecting an organic growth rate of 12.7%-18.5% over 2025, with Q1 2026 expected to be the lowest quarter.
Kratos anticipates significant growth in its hypersonic franchise, expecting to double revenues in 2026 to approximately $400 million and potentially increase over 75% again in 2027 to approximately $700 million.
The space and satellite business is also a key growth driver, with Kratos recently selected for an initial approximate $500 million program award.
The company plans to increase Valkyrie production from approximately 8 aircraft annually to approximately 40 aircraft annually by the end of 2028, with Kratos' content valued at approximately $10 million per aircraft.

4 days ago

Transcript

Kratos Defense & Security Solutions Exceeds Q4 2025 Financial Objectives and Reports Record Backlog

KTOS

Earnings

Guidance Update

New Projects/Investments

Kratos Defense & Security Solutions exceeded Q4 2025 financial objectives, reporting $345.1 million in revenue, a 20% year-over-year organic revenue growth, and $34.1 million in Adjusted EBITDA.
The company achieved a 1.3 to 1 book-to-bill ratio and a record backlog of $1.573 billion, alongside a record opportunity pipeline of $13.7 billion.
Hypersonics revenue is projected to approximately double in 2026 over 2025 to ~$400 million and increase over 75% in 2027 to ~$700 million, with an additional approximate $1 billion-plus opportunity expected by year-end.
The Space and Satellite business secured an initial approximate $500 million program award and ended Q4 2025 with a record backlog of $600 million.
Kratos expects to begin low rate initial production of small jet engines in the second half of 2026 for missile programs and is responding to a quote for 15,000 engines.

4 days ago

Transcript

Kratos Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Guidance

KTOS

Earnings

Guidance Update

New Projects/Investments

Kratos (KTOS) reported strong financial results for Q4 2025, with revenues of $345.1 million, reflecting 21.9% growth and 20.0% organic growth over Q4 2024, and a consolidated book-to-bill ratio of 1.3 to 1.
For the full year 2025, revenues reached $1.347 billion, an 18.5% increase with 16.6% organic growth over 2024, and Adjusted EBITDA was $119.9 million.
The company provided fiscal 2026 base case revenue guidance of $1.595 billion to $1.675 billion and Adjusted EBITDA guidance of $157.0 million to $167.0 million.
Kratos anticipates significant investments in 2026 for its Rocket Systems and Unmanned Systems businesses, including a plan to increase Valkyrie production to approximately 40 units annually by the end of 2027.

4 days ago

8-K

Kratos Defense & Security Solutions Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Guidance

KTOS

Earnings

Guidance Update

Revenue Acceleration/Inflection

Kratos Defense & Security Solutions reported fourth quarter 2025 revenues of $345.1 million, reflecting 21.9 percent growth and 20.0 percent organic growth over Q4 2024. Full year 2025 revenues reached $1.347 billion, with 16.6 percent organic growth over full year 2024.
For Q4 2025, the company reported Net Income of $5.9 million and Adjusted EPS of $0.18. Full year 2025 Net Income was $22.0 million and Adjusted EPS was $0.55.
The company achieved a consolidated book-to-bill ratio of 1.3 to 1 for Q4 2025 and 1.1 to 1.0 for the full year 2025, ending the year with a record backlog of $1.573 billion and a record opportunity pipeline of $13.7 billion as of December 28, 2025.
Kratos provided a Fiscal 2026 base case revenue forecast of $1.595 billion to $1.675 billion and an Adjusted EBITDA forecast of $157.0 million to $167.0 million, or 9.9% to 10.0% of revenue. This forecast includes the recently closed Nomad Global Communication Solutions acquisition and anticipates 15 percent to 20 percent organic revenue growth over fiscal year 2025.

4 days ago

Press Release

Kratos Defense & Security Solutions Secures $65 Million in New Contracts

KTOS

New Projects/Investments

Kratos Defense & Security Solutions (KTOS) recently received approximately $65 million in contract awards to design, develop, and deliver simulators and training solutions for warfighter operations across multiple aircraft platforms.
These contracts include awards from the U.S. Department of War and allied nations.
2025 was a growth year for Kratos, particularly in air-based system platforms, and the company is expanding its defense portfolio into unmanned aerial systems and hypersonic technology.

Feb 19, 2026, 2:45 PM

Press Release

Kratos Awarded Contract for Hypersonic Materials Development

KTOS

New Projects/Investments

Kratos Defense & Security Solutions, Inc. (KTOS) has been awarded a contract through the Department of War’s Joint Hypersonics Transition Office.
The contract is for the test and evaluation of thermal protection systems for hypersonic vehicles.
Kratos will establish standard test conditions and techniques to accelerate materials development, aiming to advance next-generation U.S. hypersonic vehicle technologies.

Feb 18, 2026, 1:00 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for KRATOS DEFENSE & SECURITY SOLUTIONS.

Q4 2025

Feb 23, 2026

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Q3 2025

Nov 4, 2025

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Q2 2025

Aug 7, 2025

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View All Transcripts

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KRATOS DEFENSE & SECURITY SOLUTIONS (KTOS)

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