Press release
Kratos Reports Fourth Quarter and Fiscal 2022 Financial Results
Fiscal 2022 Revenues of $898.3 Million and Fourth Quarter 2022 Revenues of $249.3 Million Increased 10.7 Percent and 17.8 Percent over Fiscal Year and Fourth
About this update from Kratos Defense & Security Solutions, Inc.
[{"type":"text","content":"Fiscal 2022 Revenues of $898.3 Million and Fourth Quarter 2022 Revenues of $249.3 Million Increased 10.7 Percent and 17.8 Percent over Fiscal Year and Fourth Quarter 2021 Revenues, Respectively Fourth Quarter 2022 Consolidated Book to Bill Ratio of 1.2 to 1 Fiscal 2022 Consolidated Book to Bill Ratio of 1.1 to 1 SAN DIEGO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today reported its fourth quarter and fiscal year 2022 financial results. For the fourth quarter of 2022, Kratos reported Revenues of $249.3 million, Operating Income of $4.1 million, Net Loss of $8.3 million, Adjusted EBITDA of $19.2 million and a consolidated book to bill ratio of 1.2 to 1.0. Included in fourth quarter 2022 Net Loss and Operating Income is non-cash stock compensation expense of $6.4 million and Company-funded Research and Development (R&D) expense of $10.6 million, primarily reflecting significant ongoing development efforts being made, including in our Space and Satellite business to develop our virtual, software-based OpenSpace command & control (C2), telemetry tracking & control (TT&C) and other ground system solutions. Also included in fourth quarter 2022 Net Loss is a tax provision of $6.0 million primarily resulting from a non-cash valuation allowance of $5.6 million recorded related to deferred tax assets of certain state net operating loss carryforwards and R&D credits. Kratos reported a fourth quarter 2022 GAAP Net Loss per share of $0.07, compared to a Net Loss of $2.6 million and a GAAP Net Loss per share of $0.02 for the fourth quarter of 2021. Adjusted EPS was $0.08 for the fourth quarter of 2022, compared to $0.11 for the fourth quarter of 2021. Fourth quarter 2022 Revenues of $249.3 million increased $37.7 million, or 17.8 percent, from fourth quarter 2021 Revenues of $211.6 million. Fourth quarter 2022 Revenues include an aggregate contribution of $29.1 million from the Cosmic Advanced Engineered Solutions, Inc. (Cosmic AES), CTT, Inc. (CTT), and the Engineering Division of Southern Research Institute (SRE) acquisitions and consolidated organic Revenue growth of 4.1 percent, primarily in our Turbine Technologies and C5ISR businesses and increased volume in our Unmanned Systems business. Excluding the impact of the legacy Training business ...