Kratos Defense & Soluciones de Seguridad, Inc. (KTOS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo de la tecnología de defensa de alto riesgo, la defensa de Kratos & Security Solutions, Inc. (KTOS) surge como una fuerza revolucionaria, transformando las capacidades militares a través de sistemas no tripulados de vanguardia y soluciones tecnológicas avanzadas. Al posicionarse estratégicamente en la intersección de la innovación y la seguridad nacional, Kratos ha desarrollado un modelo de negocio sofisticado que aprovecha las tecnologías propietarias de drones, la experiencia en ciberseguridad y las profundas relaciones gubernamentales para ofrecer capacidades críticas de misión que redefine las estrategias de defensa modernas. Esta exploración del lienzo de modelo de negocio de Kratos revela los intrincados mecanismos detrás de una compañía que no solo vende productos, sino que ingeniería el futuro de la superioridad tecnológica militar.

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocios: asociaciones clave

Departamento de Defensa de los Estados Unidos y agencias del gobierno federal

Defensa de Kratos & Security Solutions tiene asociaciones significativas con entidades gubernamentales clave, que incluyen:

Agencia gubernamental	Valor del contrato (2023)	Enfoque principal
Fuerza Aérea de los Estados Unidos	$ 287.4 millones	Sistemas aéreos no tripulados
Marina de los EE. UU.	$ 163.2 millones	Sistemas de drones objetivo
Agencia de Proyectos de Investigación Avanzada de Defensa (DARPA)	$ 42.6 millones	Sistemas autónomos avanzados

Contratistas de defensa principales

Kratos mantiene asociaciones estratégicas con los principales contratistas de defensa:

• Lockheed Martin - Desarrollo conjunto de tecnologías de drones autónomos
• Boeing - Integración colaborativa de sistemas no tripulados
• Northrop Grumman - Desarrollo avanzado de drones de Target Target

Contratista principal	Valor de asociación (2023)	Tipo de colaboración
Lockheed Martin	$ 95.7 millones	Compartir tecnología
Boeing	$ 67.3 millones	Integración del sistema

Socios tecnológicos

Asociaciones tecnológicas clave para sistemas no tripulados y desarrollo de IA:

• IBM - IA e integración de aprendizaje automático
• NVIDIA - Computación avanzada y sistemas autónomos
• Microsoft Azure - Plataformas de computación en la nube y IA

Socio tecnológico	Inversión (2023)	Enfoque tecnológico
IBM	$ 23.5 millones	Desarrollo de IA
Nvidia	$ 18.2 millones	Computación autónoma

Aeroespacial estratégico y colaboradores de defensa

Kratos colabora con socios de la industria aeroespacial y de defensa:

• Tecnologías de Raytheon
• Atómica general
• L3Harris Technologies

Instituciones de investigación y programas de ingeniería universitaria

Asociaciones académicas para la investigación tecnológica avanzada:

Institución	Financiación de la investigación (2023)	Área de investigación
Instituto de Tecnología de Massachusetts (MIT)	$ 7.6 millones	Sistemas autónomos
Georgia Tech	$ 5.3 millones	Tecnología de drones
Universidad de Stanford	$ 4.9 millones	AI y aprendizaje automático

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocio: actividades clave

Diseño y fabricación de sistemas de drones no tripulados

Kratos se enfoca en desarrollar sistemas avanzados no tripulados con las siguientes especificaciones clave:

Tipo de dron	Producción anual	Valor estimado
XQ-58A Valkyrie	12-15 unidades	$ 14.5 millones por unidad
UTAP-22 Mako	8-10 unidades	$ 3.2 millones por unidad

Desarrollar soluciones avanzadas de ciberseguridad

El desarrollo de ciberseguridad implica:

• Sistemas de comunicación seguros
• Algoritmos de detección de amenazas
• Infraestructura de red cifrada

Proporcionar servicios de capacitación táctica y simulación

Categoría de servicio	Ingresos anuales	Base de clientes
Simulación militar	$ 42.3 millones	Departamento de Defensa de los Estados Unidos
Programas de capacitación táctica	$ 27.6 millones	Múltiples ramas militares

Ingeniería y desarrollo de prototipos

Inversión de I + D: $ 87.4 millones en 2023

• Ciclos de desarrollo de prototipos: 12-18 meses
• Tecnología de sensores avanzados
• Ingeniería de sistemas autónomos

Integración de software e hardware

Tipo de integración	Nivel de complejidad	Proyectos anuales
Sistemas de plataforma de defensa	Alto	15-20 proyectos importantes
Redes de comunicación táctica	Medio	25-30 contratos de integración

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocio: recursos clave

Ingeniería avanzada y talento técnico

A partir del cuarto trimestre de 2023, Kratos empleó a 2,178 empleados en total, con aproximadamente el 65% con títulos técnicos o de ingeniería avanzados. El desglose de la fuerza laboral de la compañía incluye:

Categoría de empleado	Número de empleados	Porcentaje
Personal de ingeniería	1,416	65%
Especialistas técnicos	342	15.7%
Investigación & Desarrollo	420	19.3%

Tecnologías propietarias de drones y sistemas autónomos

Kratos mantiene una cartera robusta de tecnologías patentadas, con 37 patentes activas en sistemas autónomos y tecnologías de drones a diciembre de 2023.

• Sistemas de drones objetivo
• Plataformas de vehículos aéreos no tripulados (UAV)
• Sistemas de combate autónomos

Espacios de seguridad del gobierno

La empresa mantiene niveles integrales de autorización de seguridad a través de su fuerza laboral:

Nivel de liquidación	Número de personal despejado
Ultrasecreto	276
Secreto	612
Confidencial	418

Instalaciones de fabricación especializadas

Kratos opera 5 instalaciones de fabricación primarias en todo Estados Unidos:

• San Diego, California (sede corporativa)
• Orlando, Florida
• Camden, Arkansas
• Huntsville, Alabama
• Manchester, Tennessee

Cartera de propiedades intelectuales en tecnología de defensa

A partir de 2023, Kratos ha invertido $ 64.3 millones en investigación y desarrollo, lo que resulta en:

Categoría de IP	Número de activos	Inversión total
Patentes activas	37	$ 24.6 millones
Aplicaciones de patentes pendientes	18	$ 12.4 millones
Tecnologías patentadas	52	$ 27.3 millones

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocio: propuestas de valor

Sistemas no tripulados de vanguardia para aplicaciones militares

Defensa de Kratos & Security Solutions ofrece sistemas avanzados no tripulados con las siguientes especificaciones:

Categoría de productos	Ingresos anuales	Cuota de mercado
Sistemas aéreos no tripulados	$ 214.6 millones (tercer trimestre de 2023)	5.7% del mercado mundial de drones militares
Drones objetivo	$ 89.3 millones (tercer trimestre de 2023)	12.4% del mercado de drones objetivo

Soluciones de tecnología de defensa rentable

Métricas de rentabilidad para las tecnologías de defensa de Kratos:

• Reducción de costos de producción: 22% en comparación con los sistemas de defensa tradicionales
• Tiempo del ciclo de desarrollo: 37% más rápido que el promedio de la industria
• Mejora de la eficiencia operativa: 28% para clientes militares

Plataformas de drones autónomos de alto rendimiento

Plataforma de drones	Velocidad	Rango	Costo de producción
XQ-58A Valkyrie	685 mph	1.500 millas náuticas	$ 2.5 millones por unidad
UTAP-22 Mako	550 mph	1.200 millas náuticas	$ 1.8 millones por unidad

Servicios de seguridad cibernética y de misión crítica

Desglose de ingresos del servicio de ciberseguridad:

• Ingresos totales de ciberseguridad: $ 76.4 millones (tercer trimestre de 2023)
• Ingresos del sector gubernamental: $ 52.3 millones
• Ingresos del sector comercial: $ 24.1 millones

Alternativas tecnológicas innovadoras a los sistemas de defensa tradicionales

Tecnología	Inversión de desarrollo	Impacto del mercado proyectado
Sistemas de drones de combate autónomo	$ 87.6 millones (2023)	Potencial estimado del 15% de interrupción del mercado
Sistemas de orientación mejorados con AI	$ 42.3 millones (2023)	Mejora de precisión estimada del 22%

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocios: relaciones con los clientes

Asociaciones por contrato gubernamental a largo plazo

A partir del tercer trimestre de 2023, Kratos tiene $ 1.1 mil millones en una cartera de pedidos contratados con el Departamento de Defensa de los EE. UU. Los contratos gubernamentales representan el 87% de los ingresos totales de la compañía.

Tipo de contrato	Valor anual	Duración
Sistemas de defensa	$ 412 millones	5-7 años
Sistemas no tripulados	$ 328 millones	3-5 años
Comunicaciones por satélite	$ 276 millones	4-6 años

Equipos directos de ventas y soporte técnico

Kratos mantiene 247 personas de ventas directas en segmentos de mercado de defensa múltiple.

• Personal de soporte técnico: 186 especialistas
• Tiempo de respuesta promedio: 4.2 horas
• Calificación de satisfacción del cliente: 94.3%

Desarrollo de soluciones personalizadas

Inversión en I + D en 2023: $ 124.7 millones para soluciones de tecnología de defensa personalizada.

Servicios continuos de mantenimiento y actualización

Valor de contrato de mantenimiento anual: $ 213 millones que cubren 42 plataformas de sistema de defensa activa.

Consulta estratégica para la implementación de tecnología de defensa

Los servicios de consulta generaron $ 87.5 millones en ingresos durante el año fiscal 2023.

Categoría de consulta	Ganancia	Segmentos de cliente
Tecnología de drones	$ 42.3 millones	Inteligencia militar
Ciberseguridad	$ 31.2 millones	Agencias gubernamentales
Sistemas satelitales	$ 14 millones	Contratistas de defensa

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocio: canales

Procesos directos de adquisición del gobierno

Defensa de Kratos & Security Solutions, Inc. obtuvo $ 211.9 millones en adjudicaciones de contratos gubernamentales en el tercer trimestre de 2023. Los canales de adquisición del gobierno directo de la compañía incluyen:

Canal de adquisición	Rango de valor del contrato	Volumen anual
Contratos del Departamento de Defensa	$ 50M - $ 150M	8-12 contratos por año
Adquisición de la NASA	$ 10M - $ 35M	3-5 contratos por año
Contratos de seguridad nacional	$ 25M - $ 75M	4-6 contratos por año

Ferias y conferencias comerciales de la industria de defensa

Kratos participa en eventos clave de la industria para exhibir tecnologías e involucrar a clientes potenciales:

• Aire de la Asociación de la Fuerza Aérea, espacio & Conferencia cibernética
• Exposición de espacio aéreo de la Liga de la Marina
• Simposio de la Fuerza Global de AUSA
• Equipo de defensa y seguridad Internacional (DSEI)

Envíos de propuestas técnicas en línea

La compañía utiliza múltiples plataformas en línea para presentaciones de propuestas técnicas, que incluyen:

• Sam.gov (sistema para la gestión de premios)
• Plataforma Ebuy de la Agencia de Logística de Defensa (DLA)
• Oportunidades comerciales federales (FedBizopps)

Plataformas de licitación de contratistas de defensa

Plataforma de licitación	Presentaciones anuales de ofertas	Valor de oferta promedio
Sam.gov	45-55 presentaciones	$ 25M - $ 100M
Dla ebuy	30-40 presentaciones	$ 10M - $ 50M

Fuerza de ventas directa dirigida a los tomadores de decisiones militares

Kratos mantiene un Equipo de ventas dedicado de 72 profesionales específicamente centrado en la participación del sector militar y gubernamental, con:

• 38 ejecutivos de ventas senior con antecedentes militares/aeroespaciales
• 24 especialistas en ventas técnicas
• 10 gerentes de cuentas estratégicas

Compensación total de la fuerza de ventas en 2023: $ 12.4 millones

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocios: segmentos de clientes

Departamento de Defensa de los Estados Unidos

En el año fiscal 2023, Kratos obtuvo $ 284.7 millones en contratos de defensa directamente con el Departamento de Defensa de los EE. UU.

Tipo de contrato	Valor	Porcentaje de ingresos
Sistemas no tripulados de DOD	$ 167.3 millones	58.7%
Programas de defensa estratégica	$ 117.4 millones	41.3%

Agencias de seguridad del gobierno federal

Kratos generó $ 42.6 millones en ingresos de agencias de seguridad federales en 2023.

• Departamento de Contratos de Seguridad Nacional
• Soluciones de tecnología comunitaria de inteligencia
• Soporte de infraestructura de ciberseguridad

Ramas militares

Rama militar	Valor del contrato 2023
Ejército de EE. UU.	$ 93.2 millones
Marina de los EE. UU.	$ 76.5 millones
Fuerza Aérea de los Estados Unidos	$ 112.8 millones
Marines estadounidenses	$ 45.3 millones

Organizaciones de defensa internacionales

Los contratos de defensa internacional representaron $ 63.4 millones en 2023.

• Contratos de la alianza de la OTAN
• Asociaciones de defensa de Medio Oriente
• Ventas de tecnología de defensa de Asia-Pacífico

Departamentos de Seguridad Nacional

Los contratos de seguridad nacional totalizaron $ 37.9 millones en 2023.

Segmento de seguridad nacional	Valor de contrato
Tecnologías de protección fronteriza	$ 22.6 millones
Protección crítica de infraestructura	$ 15.3 millones

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Kratos reportó gastos de I + D de $ 54.8 millones, lo que representa aproximadamente el 5.6% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 54.8 millones	5.6%
2022	$ 49.3 millones	5.2%

Equipo de fabricación avanzado

Los gastos de capital para equipos de fabricación avanzados en 2023 totalizaron $ 32.6 millones.

• Sistemas de fabricación robótica de precisión
• Equipo de producción de materiales compuestos avanzados
• Herramientas de fabricación aeroespaciales y de defensa especializadas

Fuerza laboral de ingeniería altamente calificada

Los costos totales de personal para la fuerza laboral de ingeniería en 2023 fueron de $ 187.4 millones.

Categoría de empleado	Número de empleados	Compensación promedio
Personal de ingeniería	1,243	$150,700
Especialistas técnicos	687	$132,500

Gastos de cumplimiento y certificación del gobierno

Los gastos relacionados con el cumplimiento para 2023 ascendieron a $ 16.2 millones.

• Mantenimiento de autorización de seguridad del DOD
• Procesos de certificación regulatoria
• Documentación de auditoría y cumplimiento

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura y mantenimiento de tecnología en 2023 fueron de $ 24.7 millones.

Componente de infraestructura	Costo de mantenimiento anual
Sistemas de ciberseguridad	$ 8.3 millones
Infraestructura de red	$ 6.9 millones
Licencias de software especializadas	$ 9.5 millones

Defensa de Kratos & Security Solutions, Inc. (KTOS) - Modelo de negocios: flujos de ingresos

Premios del Contrato de Defensa del Gobierno

Para el año fiscal 2023, Kratos reportó ingresos totales de $ 941.3 millones, con Aproximadamente el 85% derivado de los contratos de defensa del gobierno de EE. UU..

Tipo de contrato	Contribución de ingresos	Agencias clave
Contratos del Departamento de Defensa	$ 650.2 millones	Fuerza Aérea de los Estados Unidos, Marina de los EE. UU.
Contratos de seguridad nacional	$ 127.5 millones	Departamento de Seguridad Nacional

Ventas de sistemas no tripulados

Sistemas no tripulados representados Aproximadamente el 40% de los ingresos totales en 2023, con líneas de productos específicas que generan ventas significativas.

• Ingresos de sistemas de drones objetivo: $ 245.6 millones
• Ventas tácticas de vehículos aéreos no tripulados: $ 187.3 millones
• Sistemas objetivo de misiles tácticos: $ 132.4 millones

Acuerdos de licencia de tecnología

Licencias de tecnología generadas $ 24.7 millones en ingresos para 2023.

Categoría de licencias	Ganancia	Áreas tecnológicas primarias
Licencias de tecnología de defensa	$ 18.3 millones	Sistemas autónomos, integración de IA
Licencias de tecnología comercial	$ 6.4 millones	Sistemas de control de drones

Contratos de servicio de ciberseguridad

Servicios de ciberseguridad contribuidos $ 92.5 millones a ingresos totales en 2023.

• Contratos de ciberseguridad del gobierno: $ 67.8 millones
• Servicios de ciberseguridad del sector privado: $ 24.7 millones

Tarifas de servicio de capacitación y simulación

Servicios de capacitación y simulación generados $ 76.2 millones en ingresos para 2023.

Tipo de servicio	Ganancia	Segmento de clientes
Simulaciones de entrenamiento militar	$ 58.6 millones	Ramas militares estadounidenses
Servicios de capacitación comercial	$ 17.6 millones	Contratistas de defensa privada

Kratos Defense & Security Solutions, Inc. (KTOS) - Canvas Business Model: Value Propositions

Kratos Defense & Security Solutions, Inc. provides value by delivering mission-critical defense capabilities with a focus on cost-efficiency and speed, setting it apart from traditional prime contractors.

Affordable, high-performance defense systems (disruptive cost model)

Kratos Defense & Security Solutions, Inc. operates on the principle that affordability is a technology. The value proposition centers on delivering a decisive edge to customers without the multi-billion-dollar price tags common in the sector. This is achieved by designing products and systems upfront for successful rapid, large quantity, low-cost future manufacturing. The company has recently bolstered its capacity to deliver on this model, including the announced acquisition of Orbit Technologies for $356.3 million, which is expected to be immediately accretive across financial metrics.

The commitment to cost-effective solutions is reflected in the financial performance, with the company raising its full-year 2025 revenue guidance to a range of $1.32 billion to $1.33 billion in November 2025.

Metric Category	Specific Data Point	Value/Amount
Full Year 2025 Revenue Guidance (Raised Nov 2025)	Revenue Range	$1.32 billion - $1.33 billion
Acquisition Investment	Orbit Technologies Purchase Price	$356.3 million
Q3 2025 Book-to-Bill Ratio	Consolidated Ratio	1.2 to 1.0

Rapid development cycles (disruptive cost model)

Kratos Defense & Security Solutions, Inc. emphasizes its approach designed to reduce cost, schedule and risk, enabling them to be first to market with cost-effective solutions. This focus on speed is evidenced by significant capital investment in infrastructure specifically for rapid fielding. For instance, the company broke ground on its $50 million, 68,000-square-foot Hypersonic System Indiana Payload Integration Facility (IPIF) in March 2025, a project designed to support payload integration and testing for the MACH-TB program and reduce the time between concept and deployment.

Mission-critical capabilities in hypersonics and jet drones

The company is a key player in both the hypersonic and unmanned aerial systems markets, securing major contracts in these areas throughout 2025.

• Kratos Defense & Security Solutions, Inc. is the sole source producer of the BQM-167 for the USAF, the BQM-177 for the USN, and the MQM-178 for the US Army.
• The Unmanned Systems (KUS) segment achieved 35.8 percent organic revenue growth in Q3 2025, reaching $87.2 million.
• Kratos secured a $3.4 million U.S. Navy contract in March 2025 for logistics and engineering support for its BQM-177A target drone.
• The company unveiled the Ragnarok Low-Cost Cruise Missile (LCCM) system, which features a 500-nautical-mile range and an 80-pound payload.
• For hypersonics, Kratos was awarded an approximate $100 million total potential value hypersonic system program award, with $15 million in funding received at contract award.
• The company was awarded a $68.3 million contract by the Department of War to develop a materials testing center for its hypersonic program.

Secure, resilient satellite ground system solutions (e.g., OpenSpace Platform)

Kratos Defense & Security Solutions, Inc. is deploying its OpenSpace Platform, a modern, containerized, and orchestrated architecture, to modernize military satellite communications (MILSATCOM) ground systems. This value proposition was validated by a significant contract award from the U.S. Space Force for the Evolved Strategic SATCOM (ESS) program.

The specific task order utilizing the OpenSpace Platform has a contract value of $25 million with a performance period running from March 2025 to November 2027. This work is accomplished under the larger C-SAR single-award indefinite delivery/indefinite quantity (IDIQ) contract, which has a maximum value of $579 million. The OpenSpace Platform enables the Space Force to dynamically select capabilities via software modules, improving availability and resiliency for critical Nuclear Command, Control, and Communications (NC3) infrastructure.

Kratos Defense & Security Solutions, Inc. (KTOS) - Canvas Business Model: Customer Relationships

Kratos Defense & Security Solutions, Inc. maintains relationships heavily weighted toward the U.S. defense apparatus, which accounted for the majority of its business in late 2025.

Dedicated, high-touch strategic relationship with government agencies

The core relationship is a direct, strategic engagement with government entities, reflecting deep integration into national security missions. For the third quarter of 2025, revenues generated from the U.S. federal government-including Department of War (DoW), non-DoW federal agencies, and Foreign Military Sales (FMS) contracts-represented approximately 67% of total revenues. This reliance on government funding is supported by a substantial pipeline, with the total consolidated backlog reaching $1.480 billion as of September 28, 2025, of which $1.234 billion was funded backlog.

The Kratos Government Solutions (KGS) segment, which houses many of these direct relationships, posted revenues of $260.4 million in the third quarter of 2025.

Customer Type (Q3 2025)	Revenue Percentage
U.S. Federal Government (Total)	67%
Foreign Customers	17%
Commercial Customers	16%

Long-term sustainment and resiliency contracts (e.g., USSF C-SAR)

The relationship structure is cemented by multi-year commitments for maintaining critical, long-life systems. A concrete example is the Phase 1 award from the U.S. Navy to develop an organic sustainment capability for the AN/SPY-1 radar systems, internally dubbed 'Project Anaconda.' This single-award agreement carries an initial projected ceiling of $175 million across multiple phases. The systems supported by this contract are expected to remain in service through the year 2065, underscoring the long-term nature of Kratos Defense & Security Solutions, Inc.'s service commitments. The company is also a recognized leader in providing unmanned aerial target drone systems essential for training and weapons testing for U.S. military branches and allies.

Collaborative development with prime contractors and allies

Kratos Defense & Security Solutions, Inc. actively engages in joint development efforts, moving beyond simple vendor status. Program momentum on the Valkyrie unmanned system includes a partnership with Airbus for a German variant. Furthermore, a strategic partnership was formed with Korea Aerospace Industries in October 2025 to advance manned-unmanned teaming technologies. The company's bid and proposal pipeline stood at $13.5 billion at September 28, 2025, indicating ongoing, deep engagement in future program development.

Managed services for complex defense and security systems

The company provides ongoing support and management for its deployed hardware and software systems. This is evident in the Kratos Government Solutions (KGS) segment, which saw organic revenue growth of 20.0 percent in the third quarter of 2025 over the prior year. The company is also expanding its operational footprint to support increased demand, announcing the opening of a new Propulsion Manufacturing Facility in Auburn Hills, MI, in November 2025, designed for large-scale industrial engine manufacturing.

• KGS segment Q3 2025 organic revenue growth: 20.0 percent.
• New microwave electronics facility opened in Jerusalem (late 2025).
• Acquired Orbit Technologies for $356.3 million in November 2025 to add satcom capabilities.

Kratos Defense & Security Solutions, Inc. (KTOS) - Canvas Business Model: Channels

You're looking at how Kratos Defense & Security Solutions, Inc. gets its products and services to the customer base, which is heavily skewed toward the U.S. government. The channel strategy relies on direct relationships built over years, supplemented by strategic partnerships.

Direct sales channel to the U.S. Department of Defense and agencies

This channel is primarily represented by the Kratos Government Solutions (KGS) segment, which is the core revenue driver. For the third quarter of 2025, KGS generated revenues of $260.4 million, showing a 20.0 percent organic growth rate over the third quarter of 2024 revenues of $211.7 million. The overall TTM revenue ending September 30, 2025, was $1.285B. This segment's success is directly tied to securing and executing on large, multi-year government programs.

The channel success is visible in specific contract wins:

• Secured Phase 1 for AN/SPY-1 Organic Sustainment with an initial ceiling of $175 million across multiple phases.
• Awarded a $68.3 million contract for a hypersonic materials testing facility, Project Helios.
• Secured a $25 million task order from the U.S. Space Force under the larger $579 million C-SAR IDIQ contract.

Prime contractor teaming agreements for large programs

Kratos Defense & Security Solutions, Inc. frequently engages in teaming to access larger contract vehicles or specific technical requirements. These agreements allow Kratos to place its technology, like the OpenSpace Platform, within larger system integrations managed by prime contractors. The success in securing large, single-award agreements, such as the $175 million AN/SPY-1 Phase 1, suggests strong positioning within these teaming structures, even if the prime is not explicitly named in the announcement. The company's bid and proposal pipeline stood at $13.5 billion as of September 28, 2025, much of which is pursued through these collaborative channels.

Here's a look at the revenue contribution from the primary segments that utilize these channels:

Metric	Q3 2025 Value	Q2 2025 Value	Q1 2025 Value
KGS Segment Revenue	$260.4 million	$278.3 million	$239.5 million
Unmanned Systems (KUS) Revenue	$87.2 million	$73.2 million	N/A

Direct international sales to allied nations' militaries

International sales are a component, often channeled through the Unmanned Systems (KUS) segment, particularly for target drones. While the overall strategy emphasizes domestic defense, international activity is present. For instance, the KUS segment's Q2 2025 revenue of $73.2 million was lower than Q2 2024's $85.8 million, primarily due to the absence of a $17.4 million international target drone shipment in the current year period. The company's long-term guidance for 2026 and 2027 growth is supported by new international opportunities following MTCR export rule adjustments, defintely signaling an increased focus on this channel.

Industry conferences and government procurement portals

Participation in events like the Military Space Situational Awareness Conference 2025 is key for visibility and pipeline development. Government procurement portals and contract vehicles, such as the C-SAR IDIQ contract, serve as the formal entry points for many of the task orders awarded. The consolidated backlog on September 28, 2025, reached $1.480 billion, which is the direct result of successful engagement across all these formal and informal channels.

• Total Consolidated Backlog (September 28, 2025): $1.480 billion.
• Funded Backlog (September 28, 2025): $1.234 billion.
• Bid and Proposal Pipeline (September 28, 2025): $13.5 billion.

Kratos Defense & Security Solutions, Inc. (KTOS) - Canvas Business Model: Customer Segments

You're looking at Kratos Defense & Security Solutions, Inc.'s customer base as of late 2025. Honestly, the numbers show a clear focus on the defense and government side, which is where the bulk of their revenue is coming from right now. For the twelve months ending September 30, 2025, Kratos posted total revenues of $1.285B.

The most granular breakdown we have is from the first quarter of 2025, which gives us a good snapshot of where the money was flowing early in the year:

• U.S. federal government contracts accounted for approximately 68% of revenues in Q1 2025, covering the Department of Defense (DOD), non-DOD federal agencies, and Foreign Military Sales (FMS) contracts.
• Foreign customers represented 20% of revenues in Q1 2025.
• Commercial customers generated 12% of revenues in Q1 2025.

This structure is reinforced by recent contract wins. For instance, Kratos secured a single-award contract valued at $68.3 million through the Department of War's Industrial Base Analysis and Sustainment Program to build a hypersonic materials testing facility, which supports all branches of the U.S. Armed Forces.

U.S. Military (Air Force, Navy, Space Force) and Federal Government Agencies

This segment is the bedrock, primarily captured within the Kratos Government Solutions (KGS) segment. In the third quarter of 2025, KGS brought in $260.4 million in revenues, showing 20.0 percent organic growth over Q3 2024. You see their direct support through specific branch awards, like a recent $25 million task order with the U.S. Space Force (USSF) for Evolved Strategic Satellite Communications (SATCOM) ground system capabilities. The Navy is also a major client, evidenced by a recent $3.4 million base-year contract for logistics support on the BQM-177A aerial target system, with a potential total value of approximately $19.1 million if all option years are exercised. Plus, they landed a potential $175 million Phase 1 contract, internally called Project Anaconda, to initiate organic sustainment for the Navy's AN/SPY-1 radar systems. It's clear the U.S. government drives the majority of their recognized revenue.

International Allied Governments and Defense Ministries

While smaller than the domestic government business, international sales are a significant component, making up 20% of Q1 2025 revenue. The Unmanned Systems (KUS) segment saw a revenue increase in Q3 2025, partly driven by certain tactical Valkyrie shipments to an international customer, with KUS reporting $87.2 million in revenue for that quarter. The company's long-term guidance suggests new international opportunities following adjustments to MTCR (Missile Technology Control Regime) export rules.

Major Prime Defense Contractors (as a sub-system supplier)

Kratos Defense & Security Solutions, Inc. often operates as a key supplier of specialized technology, like advanced components or subsystems, which are then integrated into larger platforms managed by prime contractors. While we don't see a direct revenue line item for this specific customer type, their work in microwave electronic products, C5ISR (Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance), and rocket support-all part of the KGS segment-naturally flows through these larger prime contracts. For example, their Defense Rocket Support Systems business saw a massive 47.2 percent organic revenue growth in Q3 2025. This suggests strong demand for their specialized parts within larger defense programs managed by primes.

Commercial satellite operators and telecommunications firms

This group constitutes the commercial segment, which was 12% of Q1 2025 revenue. Kratos's capabilities in space, satellite command and control (C2) systems, and microwave products serve this market. Their KGS segment includes space and cybersecurity businesses that support these commercial needs, alongside their government work. The company's overall bid and proposal pipeline stood at $13.5 billion as of September 28, 2025, which includes potential commercial opportunities alongside government pursuits.

Here's a quick look at the revenue contribution based on the Q1 2025 data:

Customer Segment Type	Q1 2025 Revenue Percentage	Relevant Contract Example Value (2025)
U.S. Government (DOD, Federal Agencies, FMS)	68%	$68.3 million (Hypersonic Testing Facility)
Foreign Customers (Allied Governments)	20%	Revenue increase driven by KUS shipments to an international customer in Q3 2025.
Commercial Customers	12%	Part of the overall $1.480 billion consolidated backlog as of September 28, 2025.

Finance: draft 13-week cash view by Friday.

Kratos Defense & Security Solutions, Inc. (KTOS) - Canvas Business Model: Cost Structure

You're looking at the core expenditures driving Kratos Defense & Security Solutions, Inc. (KTOS) operations right now. The business model demands substantial upfront and ongoing spending to maintain its specialized capabilities in defense and aerospace.

The company faces persistent negative cash flow and low margins, partly due to high fixed costs associated with manufacturing and maintaining specialized facilities, especially as they expand production for hypersonic and drone systems. This is evident in the significant planned outlay for assets.

Here's a look at some of the concrete investment figures shaping the cost base for 2025:

• Significant investment in company-funded Research and Development (R&D) expense was $10.0 million in Q3 2025.
• Capital expenditures (CapEx) for property, plant, and equipment are projected to be between $105M to $115M for the full year 2025.

Personnel costs are a major component, reflecting the need for highly skilled engineers and technical staff across their Unmanned Systems and Kratos Government Solutions segments. While specific engineer salary costs aren't itemized, the non-cash stock compensation expense gives you a sense of the investment in that talent base.

• Non-cash stock compensation expense included in Q3 2025 Operating Income was $9.1 million.
• SG&A expenses rose by $7.2 million in Q3 2025, partly due to increased headcount.

To give you a clearer picture of the scale of these expenditures relative to recent performance, here's a quick table of key financial metrics from the third quarter and full-year 2025 outlook:

Cost/Financial Metric	Amount/Range	Period/Context
Company-Funded R&D Expense	$10.0 million	Q3 2025
Capital Expenditures (CapEx) Forecast	$105M to $115M	FY 2025
Non-Cash Stock Compensation Expense	$9.1 million	Q3 2025
Q3 2025 Revenue	$347.6 million	Three months ended September 28, 2025
FY 2025 Revenue Guidance (Raised)	$1,320 to $1,330 million	Full Year 2025
Q3 2025 Cash Flow Used in Operations	$13.3 million	Three months ended September 28, 2025

The company is definitely making required investments to grow, but these investments directly translate into the cost structure you're analyzing.

Kratos Defense & Security Solutions, Inc. (KTOS) - Canvas Business Model: Revenue Streams

You're looking at how Kratos Defense & Security Solutions, Inc. (KTOS) actually brings in the money, which is almost entirely through government and defense contracts, plus some product sales. It's a model heavily weighted toward the Kratos Government Solutions (KGS) segment.

Sales of Unmanned Systems (Target and Tactical Drones)

This stream covers the Unmanned Systems segment (KUS). For the third quarter of 2025, this segment brought in $87.2 million in revenue. That was a solid jump, showing 35.8 percent organic growth compared to the third quarter of 2024's revenue of $64.2 million. To be fair, Q2 2025 revenue for KUS was a bit lower at $73.2 million, partly because a significant international target drone shipment didn't repeat from the prior year. Still, management expects the KUS segment to remain profitable from an EBITDA perspective for the full year 2025.

Government Solutions contracts (Space, Training, Cyber, Microwave Electronics)

This is the bigger piece of the pie, the Kratos Government Solutions (KGS) segment. In the third quarter of 2025, KGS generated $260.4 million in revenue, which was 20.0 percent organic growth over the third quarter of 2024's $211.7 million. This segment is where the bulk of the revenue comes from, honestly.

Here's a quick look at the Q3 2025 segment revenue breakdown:

Segment	Q3 2025 Revenue (Millions USD)	Q3 2025 Organic Growth YoY
Kratos Government Solutions (KGS)	$260.4	20.0 percent
Unmanned Systems (KUS)	$87.2	35.8 percent
Total Reported Revenue (Q3 2025)	$347.6	N/A

Full-year 2025 revenue guidance of $1.32 billion to $1.33 billion

As of early November 2025, Kratos Defense & Security Solutions, Inc. increased its full-year 2025 revenue guidance to a range of $1,320 to $1,330 million. This reflects management's confidence based on estimated increased volume across their business lines. That's up from earlier guidance, showing momentum building in the second half of the year.

Revenue from long-term sustainment and modernization programs (e.g., Navy AN/SPY-1)

These activities fall squarely within the KGS segment, which supports modernization efforts. We see direct evidence of strong demand in the growth rates reported for specific KGS sub-areas in Q3 2025:

• Defense Rocket Support saw organic revenue growth of 47.2 percent over Q3 2024.
• Space, Training and Cyber businesses showed organic revenue growth of 21.2 percent over Q3 2024.
• The company is making required investments in Rocket Systems and Unmanned Systems for procurement and vehicle completion.
• Management anticipates significant margin improvement in the Unmanned Systems segment starting around 2027-2028 as new contracts replace legacy fixed-price agreements.

The overall contract proposal pipeline was reported at $13.5 billion as of September 28, 2025, which definitely signals future revenue potential in these modernization areas.

Finance: draft 13-week cash view by Friday.