Press release
Kratos Reports Second Quarter 2024 Financial Results
Second Quarter 2024 Revenues of $300.1 Million Increased 16.8 Percent over Second Quarter 2023 Revenues of $256.9 Million, including 16.7 Percent Organic
About this update from Kratos Defense & Security Solutions, Inc.
[{"type":"text","content":"Second Quarter 2024 Revenues of $300.1 Million Increased 16.8 Percent over Second Quarter 2023 Revenues of $256.9 Million, including 16.7 Percent Organic Growth Second Quarter 2024 Unmanned Systems Revenues of $85.8 Million Increased 64.7 Percent over Second Quarter 2023 Revenues of $52.1 Million, including 61.8 Percent Organic Growth Second Quarter 2024 KGS Revenues of $214.3 Million Reflect 4.6 Percent Organic Growth over Second Quarter 2023 Revenues of $204.8 Million Second Quarter 2024 and Last Twelve Months Ended June 30, 2024 Consolidated Book to Bill Ratio of 1.1 to 1Second Quarter 2024 Consolidated Bookings of $334.1 Million Unmanned Systems Second Quarter 2024 Book to Bill Ratio of 1.5 to 1 and Last Twelve Months Ended June 30, 2024 Book to Bill Ratio of 1.1 to 1Second Quarter 2024 Bookings of $129.6 Million and Last Twelve Months Ended June 30, 2024 Bookings of $290.2 Million Affirms Full Year 2024 Financial Forecast SAN DIEGO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a Technology Company in the Defense, National Security and Global Markets, today reported its second quarter 2024 financial results, including Revenues of $300.1 million, Operating Income of $12.5 million, Net Income of $7.9 million, Adjusted EBITDA of $29.9 million and a consolidated book to bill ratio of 1.1 to 1.0. Included in second quarter 2024 Net Income and Operating Income is non-cash stock compensation expense of $6.6 million and Company-funded Research and Development (R&D) expense of $10.2 million, primarily reflecting ongoing development efforts, including in our Space and Satellite business to develop and expand our virtual, software-based OpenSpace command & control (C2), telemetry tracking & control (TT&C), Kratos owned and operated Global Space Domain Awareness (SDA) System and other solutions and development efforts in our Unmanned Systems business. Kratos reported second quarter 2024 GAAP Net Income attributable to Kratos of $7.9 million and Earnings Per Share of $0.05 compared to a GAAP Net Loss attributable to Kratos of $2.7 million and a GAAP Net Loss per share of $0.02 for the second quarter of 2023. Adjusted EPS was $0.14 for the second quarter of 2024, compared to $0.09 for the second quarter of 2023. Second quarter 2024 Revenues of $300.1 million increased $43.2 million, or 16.8 pe...