Monday, February 27, 2023
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms, and systems for United States National Security related customers, allies, and commercial enterprises. Kratos is changing the way breakthrough technologies for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research, and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.kratosdefense.com.
Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Q22 Results. Revenue totaled $249.3 million, up 17.8% y-o-y, and at the upper end of the $231-$251 million guidance. Organic growth was 4.1%. Adjusted EBITDA came in at $19.2 million, at the lower end of guidance, versus $23.4 million a year ago. GAAP EPS loss was $0.07 and adjusted EPS net income was $0.08, compared to a net loss of $0.02 and adjusted EPS of $0.11, respectively, a year ago.
Building Momentum. We believe 2023 will be a transformative year for Kratos as programs will be transitioning from development RDT&E or LRIP to funded programs, contracts, or full rate production, driving greater revenue and cash flow.
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