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Kratos Defense & Security Solutions

KTOS

Kratos Defense & Security Solutions is a technology-driven company specializing in high-performance hardware, software, and systems for the defense, national security, and commercial markets.

Market cap
$9.27B-5.1%
Revenue$1.4B+21.8%
Net income$29.4M+50.8%
Free cash flow-$132.9M-44.0%
EPS (diluted)$0.17+30.8%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 4, 2026 (In 6 days)
Revenue estimate$410.4M
EPS estimate$0.13

Financials

Q1 2026

Income statement

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Revenue$371.0M+22.6%
Gross profit$89.6M+21.7%
Operating income$4.7M-28.8%
Net income$11.9M+164%
EPS (diluted)$0.07+133%

Balance sheet

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Cash & equivalents$1.5B+455%
Total debt$190.2M-33.3%
Total equity$3.4B+146%
Total assets$4.0B+102%

Cash flow

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Operating cash flow-$27.4M+6.2%
CapEx$19.9M-11.9%
Free cash flow-$47.3M+8.7%

Valuation & ratios

Valuation

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Market cap$9.27B-5.1%
Enterprise value$8B-15.7%
P/E315.4×-374×
P/S6.6×-1.7×

Profitability

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Gross margin22.9%-2.1pp
Operating margin1.7%-0.8pp
Net margin2.1%+0.4pp
FCF margin-9.4%

Returns & leverage

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Return on equity1.2%-0.2pp
Debt / equity0.1×-0.1×
Current ratio5.6×+2.8×

Segments

By geography

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Middle East$28.2M+79.6%
Europe$17.7M+19.6%
Other$16.0M+40.4%
Asia Pacific$13.4M-15.2%
Other North America$9.0M+52.5%

By segment

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US$82.6M+30.9%

By product

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Service revenues$134.0M+30.9%

Competitors

Profile

Kratos Defense & Security Solutions is a technology-driven company specializing in high-performance hardware, software, and systems for the defense, national security, and commercial markets. The company focuses on rapid innovation and affordability, positioning itself as a disruptive change agent that develops internally funded solutions to address mission-critical requirements. Its core value proposition lies in being first to market with cost-effective, mass-producible systems that address a generational recapitalization of global weapon systems.

Competitive position

Kratos differentiates itself as a 'first to market' disruptor that prioritizes affordability and internally funded R&D over traditional government-funded development cycles. It maintains a unique niche by providing high-performance, low-cost systems that bridge the gap between traditional defense primes and venture-backed startups.

GeographiesUnited States, Israel, Global
Customer segmentsFederal Government Agencies, Department of Defense, Prime System Integrators, Commercial Aerospace Companies
Business modelFixed-price production contracts, Cost-plus-fee R&D, Time and materials services, Intellectual property licensing
SuppliersSemiconductor manufacturers, Raw material suppliers (machining, milling, 3D printing), Electronic component vendors, Specialized labor with security clearances
CustomersU.S. Department of Defense, NASA, Foreign Military Sales (FMS) customers, Tier 1 Defense Prime Integrators, Commercial Satellite Enterprises
Listed1999
Employees3.9K
CEOEric DeMarco
FilingsSEC EDGAR

Questions, answered.

What is Kratos Defense & Security Solutions's market cap?
Kratos Defense & Security Solutions (KTOS) has a market capitalization of $9.3B and trades on NASDAQ.
What is Kratos Defense & Security Solutions's revenue and profitability?
Kratos Defense & Security Solutions generated $1.4B in trailing twelve-month revenue with net income of $29.4M, representing a net margin of 2.1%. Gross margin stands at 22.9%, with free cash flow of -$132.9M. These figures are based on the Q1 2026 filing.
Who are Kratos Defense & Security Solutions's competitors?
Kratos Defense & Security Solutions's key competitors include Lockheed Martin, Boeing, Mercury Systems, and others. These companies compete in similar markets and product categories.
Who does Kratos Defense & Security Solutions partner with?
Kratos Defense & Security Solutions's notable partners include GE Aerospace, Northrop Grumman, Rafael Advanced Defense Systems, and others.
Where is Kratos Defense & Security Solutions headquartered?
Kratos Defense & Security Solutions is headquartered in United States of America and employs approximately 3,900 people. It has been publicly traded since 1999.