Kratos Defense & Security ( ($KTOS) ) has released its Q3 earnings. Here is a breakdown of the information Kratos Defense & Security presented to its investors.
Kratos Defense & Security Solutions, Inc., a technology company specializing in defense, national security, and commercial markets, is known for its innovative, cost-effective solutions in areas such as unmanned aerial systems, space and satellite communications, and C5ISR products.
In the third quarter of 2024, Kratos reported revenues of $275.9 million, a slight increase from the previous year, alongside an operating income of $6.5 million and a net income of $3.2 million. The company’s unmanned systems segment showed robust growth, while the government solutions segment experienced a slight revenue decline due to expected reductions in the space and satellite business.
Key financial highlights include an adjusted EBITDA of $24.6 million and a consolidated book-to-bill ratio of 1.0 for the quarter. The unmanned systems segment achieved an 8.7% organic revenue growth, attributed to increased target drone production. However, the segment’s operating income and adjusted EBITDA were impacted by the mix of revenues and resources.
Looking forward, Kratos remains optimistic, reaffirming its full-year 2024 financial forecast and anticipating a 10% revenue growth in 2025. The company is strategically positioned to expand its production capabilities and capitalize on a $12 billion opportunity pipeline, with plans to increase jet drone production significantly by 2025.
