Kratos Defense & Security Solutions (KTOS)

Nasdaq Industrials Aerospace & Defense S&P MidCap 400

$35.10

+1.71 (+5.12%)

Close of Nov 06, 2026 · end-of-day data

Source: Kratos Defense & Security Solutions's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$541.90M	$603.30M	$618.00M	$717.50M	$747.70M	$811.50M	$898.30M	$1.04B	$1.14B	$1.35B
Cost of revenue	$421.40M	$445.70M	$448.30M	$527.50M	$544.50M	$586.40M	$672.30M	$768.50M	$849.10M	$1.04B
Gross profit	$120.50M	$157.60M	$169.70M	$190.00M	$203.20M	$225.10M	$226.00M	$268.60M	$287.20M	$307.90M
Research & development	$13.90M	$17.80M	$15.60M	$18.00M	$27.00M	$35.20M	$38.60M	$38.40M	$40.30M	$40.00M
Selling, general & admin	$114.60M	$127.30M	$119.80M	$130.80M	$144.50M	$160.20M	$182.80M	$198.70M	$217.20M	$240.20M
Operating income	-$18.00M	-$12.00M	$30.50M	$38.00M	$29.30M	$27.90M	-$2.90M	$31.10M	$29.00M	$25.60M
Interest expense	$34.70M	$29.10M	$21.60M	$23.50M	$23.60M	$23.70M	$18.30M	$21.70M	$15.20M	$9.60M
Pre-tax income	-$51.80M	-$57.10M	$8.70M	$15.70M	$6.80M	$4.40M	-$33.00M	$11.10M	$26.50M	$34.00M
Income tax	$5.80M	-$10.20M	$4.60M	$4.80M	-$73.50M	$3.90M	$200.00K	$8.70M	$10.20M	$12.00M
Net income	-$60.50M	-$42.70M	-$3.50M	$12.50M	$79.60M	-$2.00M	-$36.90M	-$8.90M	$16.30M	$22.00M
EBITDA	$4.50M	$10.20M	$48.40M	$61.40M	$53.90M	$53.60M	$27.60M	$64.30M	$69.30M	$72.70M
EPS (basic)	$-0.99	$-0.48	$-0.03	$0.12	$0.69	$-0.02	$-0.29	$-0.07	$0.11	$0.14
EPS (diluted)	$-0.99	$-0.48	$-0.03	$0.11	$0.67	$-0.02	$-0.29	$-0.07	$0.11	$0.13
Diluted shares	61.30M	89.50M	106.10M	109.20M	118.70M	128.00M	126.70M	130.40M	150.90M	165.20M
Gross margin	22.2%	26.1%	27.5%	26.5%	27.2%	27.7%	25.2%	25.9%	25.3%	22.9%
Operating margin	-3.3%	-2.0%	4.9%	5.3%	3.9%	3.4%	-0.3%	3.0%	2.6%	1.9%
Net margin	-11.2%	-7.1%	-0.6%	1.7%	10.6%	-0.2%	-4.1%	-0.9%	1.4%	1.6%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$69.10M	$130.50M	$182.70M	$172.60M	$380.80M	$349.40M	$81.30M	$72.80M	$329.30M	$560.60M
Receivables	$229.40M	$74.20M	$64.60M	$85.00M	$95.30M	$93.90M	$105.70M	$128.80M	$117.50M	$165.00M
Inventory	$57.20M	$49.60M	$46.80M	—	—	—	—	—	—	—
Total current assets	$373.10M	$471.40M	$494.70M	$522.20M	$764.80M	$758.10M	$582.60M	$594.20M	$872.10M	$1.26B
Goodwill	$485.40M	$425.70M	$425.70M	$455.60M	$483.90M	$493.90M	$558.20M	$569.10M	$568.90M	$595.70M
Total assets	$948.60M	$1.02B	$1.01B	$1.19B	$1.56B	$1.59B	$1.55B	$1.63B	$1.95B	$2.47B
Total current liabilities	$196.50M	$188.90M	$164.70M	$182.70M	$197.60M	$221.10M	$234.20M	$292.50M	$296.70M	$311.00M
Short-term debt	$1.00M	$800.00K	—	—	—	—	—	—	—	—
Long-term debt	$431.00M	$293.50M	$294.20M	$295.10M	$301.00M	$296.70M	$250.20M	$219.30M	$174.60M	$0
Total debt	$432.00M	$294.30M	$294.20M	$295.10M	$301.00M	$296.70M	$250.20M	$219.30M	$174.60M	$0
Total liabilities	$672.20M	$512.50M	$490.80M	$596.90M	$622.70M	$629.20M	$604.00M	$634.00M	$597.70M	$470.90M
Shareholders' equity	$276.40M	$511.50M	$519.30M	$574.10M	$925.30M	$945.10M	$936.30M	$976.00M	$1.35B	$2.00B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	-$14.60M	-$26.90M	$18.10M	$28.90M	$44.70M	$35.30M	-$25.70M	$65.20M	$49.70M	-$42.10M
Capital expenditures	—	—	—	—	$35.90M	$46.50M	$45.40M	$52.40M	$58.20M	$95.30M
Free cash flow	-$14.60M	-$26.90M	$18.10M	$28.90M	$8.80M	-$11.20M	-$71.10M	$12.80M	-$8.50M	-$137.40M
Investing cash flow	-$14.10M	-$25.40M	$40.50M	-$43.70M	-$87.30M	-$52.10M	-$177.40M	-$43.80M	-$69.70M	-$88.30M
Financing cash flow	$63.10M	$113.40M	$1.70M	$3.50M	$247.70M	-$9.30M	-$63.30M	-$30.70M	$277.60M	$360.70M
Stock-based compensation	$5.10M	$7.80M	$7.20M	$11.00M	$21.00M	$25.80M	$26.30M	$25.30M	$29.80M	$35.50M
Depreciation & amortization	$22.50M	$22.20M	$17.90M	$23.40M	$24.60M	$25.70M	$30.50M	$33.20M	$40.30M	$47.10M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$273.80M	$277.20M	$300.10M	$275.90M	$283.10M	$302.60M	$351.50M	$347.60M	$345.10M	$371.00M	$458.80M	$471.80M
Cost of revenue	$201.90M	$206.20M	$222.90M	$206.70M	$213.30M	$229.00M	$277.70M	$270.50M	$261.70M	$281.40M	$358.70M	$365.80M
Gross profit	$71.90M	$71.00M	$77.20M	$69.20M	$69.80M	$73.60M	$73.80M	$77.10M	$83.40M	$89.60M	$100.10M	$106.00M
Research & development	$8.00M	$9.60M	$10.20M	$9.90M	$10.60M	$10.00M	$10.20M	$10.00M	$9.80M	$10.70M	$13.60M	$15.00M
Selling, general & admin	$52.70M	$54.40M	$54.50M	$52.60M	$55.70M	$57.00M	$59.90M	$59.80M	$63.50M	$72.30M	$87.30M	$95.00M
Operating income	$11.70M	$7.00M	$12.50M	$6.50M	$3.00M	$6.60M	$3.70M	$7.10M	$8.20M	$4.70M	-$1.60M	-$4.90M
Pre-tax income	$7.60M	$4.00M	$12.70M	$5.80M	$4.00M	$5.40M	$4.60M	$11.90M	$12.10M	$9.80M	$7.00M	$4.60M
Income tax	$2.00M	$2.70M	$4.80M	$2.60M	$100.00K	$900.00K	$1.70M	$3.20M	$6.20M	-$2.10M	$2.60M	$4.80M
Net income	$2.40M	$1.30M	$7.90M	$3.20M	$3.90M	$4.50M	$2.90M	$8.70M	$5.90M	$11.90M	$4.40M	-$200.00K
EBITDA	$20.90M	$16.30M	$22.90M	$16.80M	$13.30M	$17.00M	$15.50M	$19.00M	$21.20M	$21.50M	$20.50M	$20.10M
EPS (basic)	$0.02	$0.01	$0.05	$0.02	$0.03	$0.03	$0.02	$0.05	$0.04	$0.07	$0.02	$0.00
EPS (diluted)	$0.02	$0.01	$0.05	$0.02	$0.03	$0.03	$0.02	$0.05	$0.03	$0.07	$0.02	$0.00
Diluted shares	1.10M	141.50M	153.50M	154.10M	3.10M	156.20M	157.40M	172.90M	2.90M	179.40M	190.10M	188.80M
Gross margin	26.3%	25.6%	25.7%	25.1%	24.7%	24.3%	21.0%	22.2%	24.2%	24.2%	21.8%	22.5%
Operating margin	4.3%	2.5%	4.2%	2.4%	1.1%	2.2%	1.1%	2.0%	2.4%	1.3%	-0.3%	-1.0%
Net margin	0.9%	0.5%	2.6%	1.2%	1.4%	1.5%	0.8%	2.5%	1.7%	3.2%	1.0%	-0.0%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$72.80M	$338.90M	$308.20M	$301.50M	$329.30M	$263.70M	$783.60M	$565.90M	$560.60M	$1.46B	$1.44B	$1.40B
Receivables	$128.80M	$116.90M	$131.70M	$112.70M	$117.50M	$118.20M	$142.20M	$136.30M	$165.00M	$194.50M	$171.30M	$191.20M
Total current assets	$594.20M	$871.70M	$851.20M	$838.40M	$872.10M	$864.40M	$1.43B	$1.24B	$1.26B	$2.31B	$2.36B	$2.40B
Goodwill	$569.10M	$568.90M	$568.90M	$568.90M	$568.90M	$597.40M	$598.80M	$595.00M	$595.70M	$884.10M	$871.20M	$853.50M
Total assets	$1.63B	$1.95B	$1.91B	$1.91B	$1.95B	$2.00B	$2.59B	$2.42B	$2.47B	$4.04B	$4.09B	$4.19B
Total current liabilities	$292.50M	$288.20M	$272.30M	$260.50M	$296.70M	$304.90M	$322.40M	$287.40M	$311.00M	$410.70M	$425.30M	$442.50M
Long-term debt	$219.30M	$179.40M	$179.50M	$177.00M	$174.60M	$172.20M	$169.80M	$0	$0	—	—	—
Total debt	$219.30M	$179.40M	$179.50M	$177.00M	$174.60M	$172.20M	$169.80M	$0	$0	—	—	—
Total liabilities	$634.00M	$586.00M	$584.90M	$569.50M	$597.70M	$617.30M	$625.70M	$441.80M	$470.90M	$632.70M	$663.00M	$735.90M
Shareholders' equity	$976.00M	$1.31B	$1.33B	$1.34B	$1.35B	$1.39B	$1.96B	$1.98B	$2.00B	$3.41B	$3.43B	$3.45B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$67.40M	$700.00K	-$2.70M	$6.10M	$45.60M	-$29.20M	-$11.70M	-$13.30M	$12.10M	-$27.40M	-$11.00M	-$5.20M
Capital expenditures	$19.30M	$16.60M	$12.70M	$15.30M	$13.60M	$22.60M	$20.50M	$28.00M	$24.20M	$19.90M	$17.20M	$30.20M
Free cash flow	$48.10M	-$15.90M	-$15.40M	-$9.20M	$32.00M	-$51.80M	-$32.20M	-$41.30M	-$12.10M	-$47.30M	-$28.20M	-$35.40M
Investing cash flow	-$19.00M	-$16.60M	-$24.20M	-$15.30M	-$13.60M	-$22.60M	-$20.50M	-$28.00M	-$17.20M	-$365.10M	-$10.20M	-$33.40M
Financing cash flow	-$18.60M	$282.60M	-$3.60M	$1.60M	-$3.00M	-$14.50M	$550.80M	-$176.10M	$500.00K	$1.30B	-$6.10M	$5.30M
Stock-based compensation	$6.30M	$9.20M	$6.60M	$7.20M	$6.80M	$8.70M	$8.60M	$9.10M	$9.10M	$15.00M	$16.30M	$18.10M
Depreciation & amortization	$9.20M	$9.30M	$10.40M	$10.30M	$10.30M	$10.40M	$11.80M	$11.90M	$13.00M	$16.80M	$22.10M	$25.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.