Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
From Opportunity to Reality. Less than 48 hours after speaking of these potential opportunities (among a bunch of other opportunities), Kratos has been awarded a U.S. Army contract related to the Javelin Missile System, and Kratos partner Boeing announced it has been awarded a funding contract to begin supplying long-range JDAMs that incorporate Kratos turbojet engines.
JDAM. The Air Force awarded Boeing a $75 million production contract to begin supplying long-range JDAMs. The long-range variant adds a Kratos TDI-J85 turbojet providing 200 pounds of thrust to enable jets to attack from a much safer distance. The 2027 National Defense Authorization Act includes about $277 million for 1,150 upgraded JDAM guidance tail kits with M-Code GPS for the legacy munitions. Industry experts note the new version will cost far less than more exquisite stand-off munitions, so they should be considered as an affordable mass capability, playing right into Kratos’ key strengths, in our opinion.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
SAN DIEGO, Aug. 06, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in defense, national security, and global markets, announced today that it has been awarded a contract by the U.S. Army Combat Capabilities Development Command (DEVCOM) Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) Center to develop an Enhanced Seeker for the Javelin Close Combat Missile System.
Kratos will develop, build, and test a next-generation infrared seeker that addresses obsolescence in the current Javelin guidance section, improving the lethality of one of the U.S. Army’s most critical close combat weapons for the next decade. The work will be performed at Kratos’ Advanced Manufacturing Center in Birmingham, Alabama, with testing at U.S. Army Government facilities.
“Kratos has made the investments, built the credentialed team, and delivered the capabilities to win, execute, and deliver a production-ready seeker that keeps Javelin lethal for the Soldiers who depend on it,” said Michael Johns, Senior Vice President, Kratos SRE, Inc. “We are proud to support the U.S. Army in sustaining one of its most important close combat weapons, and this award is a reflection of everything Kratos stands for: affordable, mission-critical hardware, delivered.”
Kratos brings decades of missile seeker development heritage to this program and a vertically integrated manufacturing capability that positions the company to deliver production-ready hardware affordably and on schedule. The contract also directly supports the Secretary of War’s priority to strengthen the U.S. munitions industrial base.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) is a technology, products, system and software company addressing the defense, national security, and global markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding-edge approaches, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles; jet-powered unmanned aerial drone systems; advanced vehicles and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter-UAS, directed energy, communication, and other systems; and virtual and augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.
Notice Regarding Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
RESTON, Va., Aug. 5, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX) has been awarded an $87 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract to enhance the performance, longevity, and mission readiness of SUU-79 pylons supporting F/A-18 Super Hornet and EA-18G Growler aircraft operated by the United States Navy.
The SUU-79 pylons are critical sub-systems mounted beneath the aircraft wing, enabling the carriage and deployment of weapons, missiles, and other mission-essential stores. These components play a vital role in ensuring full mission lethality and operational effectiveness across a range of combat and support missions. V2X has supported sustainment of these Navy aircraft’s systems, including pylons, since the first F/A-18 aircraft entered into service in the 1980s.
Through this contract, V2X will sustain and modernize mission-critical capabilities by overhauling this key aircraft component for frontline naval aviation operations. By applying advanced repair techniques and lifecycle sustainment expertise, V2X helps extend the operational relevance of these platforms to ensure continued alignment with evolving mission requirements.
“This award reflects our continued commitment to delivering mission-critical sustainment solutions that ensure operational readiness for our naval forces,” said Jeremy C. Wensginer, President and Chief Executive Officer at V2X. “These pylons are actively supporting missions today, and our work ensures they remain ready, reliable, and capable of enabling full-spectrum combat operations whenever and wherever they are needed. This is yet another example of supporting the modernization of critical aviation systems.”
Under the contract, all work will be performed in Indianapolis, Indiana, with completion expected by January 2030.
About V2X V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting right technologies including AI and machine learning capabilities to meet today’s toughest challenges across all operational domains and maintain relevancy for the evolving mission parameters.
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations [email protected] 719-637-5773
Media Contact Angelica Spanos Deoudes Senior Director, Marketing and Communications [email protected] 571-338-5195
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. Kratos’ second quarter results reflect strong execution by the Company, in our view. The Company’s strategy, including making internally funded investments to be first-to-market with relevant hardware and software that is engineered up front for affordable mass production at scale and is aligned with the Department of War’s priorities, continues to resonate, in our view.
2Q26 Results. Revenues for the second quarter were $458.8 million, above management’s guide of $400 million-$410 million. We were at $405 million. Adjusted EBITDA for the second quarter was $38.2 million, above the high end of the estimated range of $30 million-$35 million, reflecting the increased revenue and revenue mix. We had forecast $33 million. GAAP net income for 2Q26 was $4.4 million, and GAAP EPS was $0.02, compared to $2.9 million and $0.02, respectively, for 2Q25. Adjusted EPS was $0.21 for 2Q26, compared to $0.11 for 2Q25.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Palantir ripped more than 27% higher Tuesday after a blowout quarter — but if you invest in small and micro caps, the move itself isn’t your story. The story is what it says about every AI software name that got left for dead earlier this year.
First, the numbers, because they’re staggering. Palantir grew total revenue 93% year over year in Q2, with US commercial revenue up a frankly absurd 149%. It lifted full-year guidance to 82% growth and posted $1.05 billion in adjusted net income. This is a company that only turned sustainably profitable in late 2023 and has done nothing but accelerate since. The stock has run from roughly $25 to north of $150 in two years. On Tuesday, Deutsche Bank piled on, upgrading it to Buy with a $200 target and arguing Palantir is years ahead of the rest of software at turning AI hype into paying customers.
Fair enough. But here’s the part worth your attention.
For the first half of this year, AI was a threat to software stocks, not a tailwind. The fear was simple: if anyone can spin up an AI-coded tool, why pay for enterprise software at all? That panic hammered names like Salesforce and gutted valuations across the sector — small caps most of all, because they always get sold first and hardest. Palantir just punched a hole in that thesis. It showed, with real revenue, that AI demand can be additive to a data-software business rather than a wrecking ball.
That narrative shift is the read-through. When the market decides it wrongly wrote off a whole sector, the re-rating doesn’t stop at the $380 billion leader — it flows down to the smaller, cheaper names that got dumped indiscriminately. The AI software companies with real revenue traction, a defensible niche, and a visible path to profits are the ones that benefit when sentiment flips.
Which fires up the game every small-cap investor loves and should be careful with: the hunt for the “next Palantir.” Be skeptical here. For every genuine small-cap building durable AI-driven software, there are ten with a buzzword-stuffed deck and no customers. The tell isn’t the pitch — it’s accelerating revenue, expanding margins, and a specific vertical or government niche the company actually owns. That’s what Palantir had before Wall Street noticed. Look for that same shape lower down the market-cap ladder.
One caveat you shouldn’t skip: don’t confuse the signal with the stock. Palantir trades at a valuation that assumes years of flawless execution — analysts flagged a growth-plus-margin profile far beyond the usual “Rule of 40” benchmark, which is remarkable, but it’s priced for perfection. For small-cap hunters, the play isn’t chasing Palantir up here. It’s treating this quarter as confirmation that the AI-software sell-off went too far, then finding the overlooked names that haven’t re-rated yet.
The giant just told you the tide is turning. Your edge is fishing where nobody else is looking.
RESTON, Va., Aug. 4, 2026 /PRNewswire/ — V2X Inc. (NYSE: VVX) has been awarded an indefinite-delivery/indefinite-quantity contract, with a $500 million ceiling value, by the U.S. Air Force to continue providing Contractor Logistics Support for the Air Force’s C-12 aircraft fleet.
The C-12 Huron provides time-sensitive transportation of personnel and cargo, medical evacuation, and flight test support for organizations including Air Force Materiel Command, the Defense Intelligence Agency, the Defense Security Cooperation Agency and Pacific Air Forces. Under the contract, V2X will continue delivering comprehensive maintenance, supply chain, engineering and logistics support for the globally deployed fleet through June 2031.
The award builds on V2X’s long-standing partnership with the U.S. Air Force, reflecting the company’s proven ability to deliver exceptional aircraft availability and mission readiness. Throughout the current program, V2X has consistently achieved mission capability rates exceeding 95 percent while earning exceptional Contractor Performance Assessment Reporting System ratings for quality, schedule and mission execution.
“Our customers depend on these aircraft to execute missions around the world, often on short notice and in demanding environments,” said Vinny Caputo, Senior Vice President of Aerospace Systems at V2X. “This award reflects the confidence the U.S. Air Force places in our people and our proven ability to deliver sustained aircraft readiness. We are proud to continue supporting this important fleet with the operational excellence, technical expertise and mission focus our customers expect.”
V2X’s integrated sustainment approach combines maintenance, supply chain management, engineering, logistics and program management to maximize aircraft availability while improving operational efficiency. The company’s performance on the current program has enabled the Air Force to maintain exceptional fleet readiness while integrating new capabilities that improve mission effectiveness.
Work under the firm-fixed-priced contract will be performed at multiple locations across the United States and internationally, supporting Air Force operations and Foreign Military Sales partners across North America, South America, Europe, Africa, the Middle East and the Pacific.
About V2X V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations [email protected] 719-637-5773
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. V2X’s reported strong second quarter performance reflecting consistent strategic execution, robust demand for the Company’s differentiated capabilities, and continued alignment to national security priorities. The Company’s recent awards across modernization, global training, aerospace, and mission readiness reinforce the value of V2X’s end-to-end solutions, ability to support global no-fail missions, and pursuit of profitable growth opportunities, in our view.
2Q26 Results. V2X reported revenue of $1.26 billion, up $178.3 million year-over-year, representing a 16.5% increase. We were at $1.2 billion. Adjusted EBITDA was $89.8 million, with a margin of 7.1%, representing an increase of 9% from the prior year. We had forecast $87 million and a 7.3% margin. Adjusted EPS came in at $1.64, up from $1.33 last year. We were at $1.44.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Net income of $25.5 million; Adjusted net income1 of $51.6 million, up 22% year-over-year
Adjusted EBITDA1 of $89.8 million; Adjusted EBITDA1 margin of 7.1%
Diluted EPS of $0.81; Adjusted diluted EPS1 of $1.64, up 23% year-over-year
Increasing full-year 2026 revenue, adjusted EBITDA1, and adjusted diluted earnings per share1 guidance
RESTON, Va., Aug. 3, 2026 /PRNewswire/ — V2X, Inc. (NYSE:VVX) today announced second quarter 2026 financial results and increased 2026 guidance for revenue, adjusted EBITDA1, and adjusted diluted earnings per share1.
“With double-digit top and bottom-line growth, our strong second quarter performance reflects consistent strategic execution, robust demand for our differentiated capabilities and continued alignment to national security priorities,” said Jeremy C. Wensinger, President and Chief Executive Officer. “Recent awards across modernization, global training, aerospace and mission readiness reinforce the value of our end-to-end solutions, ability to support global no-fail missions, and pursuit of profitable growth opportunities that increase the value of our backlog. Our solid first-half performance and current backlog position us well as we enter the second half of 2026 and as such are increasing our 2026 outlook for revenue, adjusted EBITDA1 and adjusted EPS1. We remain focused on advancing our Go Towards Tomorrow strategy, prioritizing investments that accelerate innovation across the enterprise and strengthen our competitive solutions, and delivering differentiated value for customers and shareholders.”
Second Quarter 2026 Results
In the second quarter, V2X reported revenue of $1.26 billion, representing 17% year-over-year growth. The Company reported solid topline growth and strong operating performance, yielding double-digit growth in adjusted net income1 and adjusted EPS1. Net income for the quarter was $25.5 million. Adjusted net income1 was $51.6 million, an increase of 22%, year-over-year. Second quarter GAAP diluted EPS was $0.81. Adjusted diluted EPS1 for the quarter increased 23% year-over-year to $1.64.
V2X delivered adjusted EBITDA1 of $89.8 million, with a margin1 of 7.1%, representing an increase of 9%, from the prior year.
1 See “Key Performance Indicators and Non-GAAP Financial Measures” for descriptions and reconciliations.
Second quarter net cash provided by operating activities was $21.6 million. Adjusted net cash provided by operating activities1 was $71.8 million.
At the end of the second quarter, net debt for V2X was $876.1 million, representing an improvement of $71.4 million year-over-year and a 2.4x net leverage ratio1. The Company expects to achieve a net leverage ratio1 of approximately 2.0x by the end of 2026.
As of July 3, 2026, total backlog1 was $12.7 billion and funded backlog1 was $2.5 billion. Book-to-bill1 in the second quarter was approximately 0.5x. Trailing twelve-month book-to-bill1 was approximately 1.4x.
2026 Guidance
The Company is increasing its 2026 guidance ranges for revenue, adjusted EBITDA1, and adjusted diluted earnings per share1 as follows:
$ millions, except for per share amounts
Prior 2026 Guidance
Updated 2026 Guidance
Revenue
$4,825
$4,975
$4,875
$5,025
Adjusted EBITDA1
$345
$360
$347.5
$362.5
Adjusted Diluted Earnings Per Share1
$5.75
$6.15
$5.90
$6.30
Adjusted Net Cash Provided by Operating Activities1
$160
$180
$160
$180
The Company is not providing a quantitative reconciliation with respect to the foregoing forward-looking non-GAAP measures in reliance on the “unreasonable efforts” exception set forth in SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. For example, unusual, one-time, non-ordinary, or non-recurring costs, which relate to M&A, integration and related activities cannot be reasonably estimated. Forward-looking statements are based upon current expectations and are subject to factors that could cause actual results to differ materially from those suggested here, including those factors set forth in the Safe Harbor Statement below.
1 See “Key Performance Indicators and Non-GAAP Financial Measures” for descriptions and reconciliations.
Second Quarter Conference Call
Management will conduct a conference call with analysts and investors at 4:30 p.m. ET on Monday, August 3, 2026. U.S.-based participants may dial in to the conference call at 877-300-8521, while international participants may dial 412-317-6026. A live webcast of the conference call as well as an accompanying slide presentation will be available here: https://app.webinar.net/9LeOmbNmDjb
A replay of the conference call will be posted on the V2X website shortly after completion of the call and will be available for one year. A telephonic replay will also be available through August 17, 2026, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10210672.
Presentation slides that will be used in conjunction with the conference call will also be made available online in advance on the “investors” section of the company’s website at https://gov2x.com. V2X recognizes its website as a key channel of distribution to reach public investors and as a means of disclosing material non-public information to comply with its obligations under the U.S. Securities and Exchange Commission (“SEC”) Regulation FD.
About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,200 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the “Act”): Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Act.
Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “could,” “potential,” “continue” or similar terminology. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management. Forward-looking statements in this press release, include, but are not limited to our future performance and capabilities; all of the statements and items listed under “2026 Guidance” above and other assumptions contained therein for purposes of such guidance; our belief that prior performance provides substantial visibility for future performance; market trends; product development; capital deployment; future net leverage ratio; and our belief that our innovation strategy, visibility, and targeted growth opportunities provide substantial demand for our services and opportunities for value creation.
These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside our management’s control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company’s historical experience and our present expectations or projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC.
We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Specialized 68,000-square-foot Facility is Fully Equipped to Perform Advanced Manufacturing, Integration and Testing of Experimental Hypersonic Payloads
New Facility is Key Element of Kratos Expected Significant Hypersonic Franchise Future Organic Growth Trajectory
SAN DIEGO, July 28, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company specializing in defense, national security, and global markets, today announced that construction of its Indiana Payload Integration Facility (IPIF) for Hypersonic Systems located in Crane, Indiana, has been completed ahead of schedule.
Kratos’ IPIF, a $50 million state-of-the-art facility, is designed and purpose-built for rapid, affordable preparation of experimental payloads to significantly boost the tempo of flight testing for next-generation hypersonic systems and technologies, and to accelerate the development of new and advanced weapons systems.
Kratos is at the forefront of hypersonic and advanced technology development and testing, providing affordable, high-performance solutions to meet the needs of the U.S. military and allied nations. Kratos is the only company delivering both propulsion and flyer systems, which includes Kratos’ low cost Erinyes Hypersonic Flyer, Dark Fury, Zeus and Oriole Solid Rocket Motors, along with other Kratos systems and technologies. Kratos provides unmatched innovation, disruptive capabilities, mission responsiveness and affordability to our customers across our portfolio of systems.
The 68,000-square-foot facility is fully equipped to perform advanced manufacturing, integration and testing of experimental hypersonic payloads. The IPIF engineering team will utilize enhanced workflows to simultaneously integrate, test and prepare up to six experimental payloads for critical hypersonic vehicles supporting programs like the Multi-Service Advanced Capabilities Hypersonic Testbed (MACH-TB). This new facility demonstrates Kratos’ steadfast commitment to advancing hypersonic system development and expanding the industrial base needed to accelerate Mach 5+ flight testing. The facility is expected to create over 100 high-tech jobs, with an estimated average annual wage of $80,000+, with significant hiring underway.
Mike Johns, Vice President of Kratos SRE, said, “The IPIF investment in southern Indiana brings online a national asset and critically needed infrastructure to rapidly scale the cadence of hypersonic testing in the United States. The facility will be a gathering place for the most advanced technologies and companies in hypersonics.”
Dave Carter, President of Kratos Defense & Rocket Support Services, said, “Kratos’ infrastructure expansion near the Naval Surface Warfare Center Crane Division is part of our strategy to establish an advanced defense hub in Southern Indiana. We are building strategic, purpose-built facilities that enhance U.S. defense and aerospace capabilities.”
For more information on Kratos and its hypersonic programs, visit www.kratosdefense.com.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, advanced vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.
Notice Regarding Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
RESTON, Va., July 27, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX), a leading provider of global mission solutions supporting national security, defense, and civilian customers, today announced it has joined the S&P SmallCap 600 Index, following S&P Dow Jones Indices’ previously announced rebalancing.
“Joining the S&P SmallCap 600 is an important milestone for V2X and reflects the progress we’ve made in executing our strategy and delivering long-term value,” said Jeremy C. Wensinger, President and Chief Executive Officer of V2X. “Our inclusion recognizes the progress of our business and the dedication of our employees, who deliver exceptional outcomes for our customers every day. We remain focused on executing our strategy and creating lasting value for our shareholders.”
The S&P SmallCap 600 is widely recognized as a leading benchmark for the U.S. small-cap equity market and is designed to measure the performance of established companies that meet specific criteria for market capitalization, liquidity, public float, and financial viability. Inclusion in the index may increase visibility among institutional investors and investment funds that track the benchmark.
About V2X V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations [email protected] 719-637-5773
Media Contact Angelica Spanos Deoudes Senior Director, Marketing and Communications [email protected] 571-338-5195
Advanced Turbomachinery Successfully Validated Ahead of Integration into Next-Generation Missile Propulsion System
SAN DIEGO, July 27, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in the defense, national security and global markets, today announced that it has successfully developed, tested, and delivered advanced turbomachinery supporting development of Lockheed Martin’s advanced ramjet propulsion system.
Kratos designed a compact, high-performance turbomachinery solution that harnesses ram air energy to support propulsion system operations. This self-regulating design delivers a superior size and weight solution compared to alternative approaches, contributing to the overall performance and affordability objectives of the program. Prior to integration into the propulsion system, Kratos completed a comprehensive standalone turbomachinery test campaign to validate operating points, component durability, and performance.
The successful validation of Kratos’ turbomachinery contributed to the broader propulsion system’s testing, which validated the propulsion system’s readiness to advance toward flight testing. Representatives from Lockheed Martin and the U.S. Army’s Aviation and Missile Center were present to witness the propulsion system test, which demonstrated that the missile’s core propulsion is a validated capability ready to support near-term fielding plans.
“Kratos is a leader in propulsion technology, dedicated to the rapid development, demonstration and deployment of innovative solutions,” said Stacey Rock, President of Kratos Turbine Technologies. “Our philosophy is to collaborate with industry leaders who share our mission of delivering cutting-edge technologies and capabilities to market quickly and cost-effectively. This opportunity with Lockheed Martin has been highly successful and represents a cornerstone of our long-term strategic initiatives.”
Kratos has and continues to invest in technology and infrastructure to support its growing family of turbomachinery products for advanced propulsion applications. At Kratos, affordability is a technology, and the company’s internally funded research, development, and capital investments enable rapid delivery of high-performance solutions that address the nation’s most challenging defense requirements.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.
Notice Regarding Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
SAN DIEGO, July 23, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, announced today that it will publish financial results for the second quarter 2026 after the close of market on Tuesday, August 4th. Management will discuss the Company’s operations and financial results in a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern).
The call will be available at www.kratosdefense.com. Participants may register for the call using this On-line Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New Business. Kratos continues to receive new business, confirming the large growth opportunities available, in our view. The new business highlights the Company’s operating philosophy of having the right products, in the right space, at the right time. The recent awards add to the pile of new business Kratos has been awarded so far in 2026.
C-UAS Award. Kratos was awarded a sole-source, single-award Indefinite Delivery/Indefinite Quantity (IDIQ) contract for approximately $156 million by the U.S. Department of Energy’s National Nuclear Security Administration (NNSA) Office of Secure Transportation (OST) in support of Project Solar Shield. Under this new contract award, Kratos will provide mobile Counter-Unmanned Aircraft System (C-UAS) platforms designed to support OST’s critical National Security mission. The OST is responsible for the safe and secure ground and air transportation of nuclear weapons, weapon components, and special nuclear materials. Kratos was selected following a rigorous technical evaluation.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
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