Wednesday, August 05, 2026
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.
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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.