RESTON, Va., April 2, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX) today announced the appointment of Mike Uster as Chief Information Officer, effective immediately. In this role, Uster will lead the company’s global information technology strategy, enterprise systems, and digital transformation initiatives, with a focus on strengthening cybersecurity, advancing AI-enabled capabilities, and enabling secure, resilient technology platforms that support V2X’s mission-critical operations. He will report directly to Jeremy C. Wensinger, President and Chief Executive Officer at V2X.
Uster brings more than 35 years of experience leading enterprise IT, innovation, and mission-critical technology solutions for government and industry. Most recently, he served as Chief Information Officer, Chief Technology Officer, and Senior Vice President at ManTech, where he led enterprise-wide digital transformation initiatives, cybersecurity modernization, and advanced technology adoption across global operations.
“Mike brings an exceptional depth of experience leading enterprise IT transformation and deploying advanced technologies in support of national security missions,” said Wensinger. “His leadership in areas such as zero-trust architecture, secure collaboration platforms, and AI-enabled enterprise solutions will help strengthen V2X’s technology foundation and enable us to deliver even greater value to our customers and employees.”
During his tenure at ManTech, Uster was instrumental in implementing comprehensive zero-trust architecture, driving secure collaboration capabilities, and embedding AI-enabled technologies to enhance productivity and operational excellence across the enterprise.
Earlier in his career, Uster held roles supporting government and national security missions at Northrop Grumman, Lockheed Martin Skunk Works, RAND Corporation, and TRW Inc.. He joined ManTech in 2005 and progressed through leadership roles spanning IT strategy, business systems, and enterprise service delivery.
Uster holds a Bachelor of Arts in Modern European History from Biola University and is recognized for his strategic vision, commitment to innovation, and ability to develop high-performing technology teams.
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 IR@goV2X.com 719-637-5773
Media Contact Angelica Spanos Deoudes Director, Corporate Communications Angelica.Deoudes@oV2X.com 571-338-5195
SAN DIEGO, March 26, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology, products, system and software company in defense, national security, and global markets, announced today that it has been selected by the Naval Surface Warfare Center, Port Hueneme Division (NSWC PHD) for production and delivery of up to 36 Oriole™ solid rocket motors and three Thrust Vector Control (TVC) nozzle kits. The contract includes a funded base award for Oriole with options that, if fully exercised, bring the total contract value for solid rockets to $39,077,237. An option for 3 Oriole TVC production kits, valued at $10,136,009, is also included in the award.
The Oriole rocket system is an affordable, mission-relevant flight test solution, supporting the Navy’s critical suborbital target and experimental hypersonic test requirements with rapid delivery and fielding. Kratos’ proven capability and flawless track record delivering Oriole rocket systems and vehicle hardware components enables customers to maintain robust test and evaluation schedules in support of emerging national security requirements.
“Kratos continues to provide the Department of War with proven, affordable, and rapid turn-key launch vehicle solutions,” said Dave Carter, President of Kratos Defense & Rocket Support Services. “Our Oriole rocket motor and TVC kit systems deliver critical capability to our Navy and DoW customers, supporting operational needs and test objectives on accelerated timelines.”
This award continues Kratos’ long-standing partnership with NSWC PHD in support of ballistic missile defense, hypersonic research, and other test programs. With repeated program successes and regular technology refreshes, Kratos continues to reinforce its industry leading position in the design, production, and sustainment of mission-critical solutions for national security applications.
“Kratos is honored to support our Navy and defense customers with real, existing, mission-relevant products and systems, rapidly fielded to address today’s most pressing challenges,” said Eric DeMarco, President and CEO of Kratos Defense & Security Solutions. “Our approach—making internal investments to deliver affordable, first-to-market national security hardware—remains central to our growth and our commitment to our customers’ evolving needs.”
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.
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, March 25, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a Technology, Hardware, Products, System and Software Company addressing the Defense, National Security and Commercial Markets, today announced that the Company has appointed David King to the Kratos Board of Directors, effective March 23, 2026. Mr. King will serve as a member of the Audit Committee of the Kratos Board of Directors.
Mr. King has served as a senior executive and board member in the aerospace, defense, national security and government sectors for more than four decades. Mr. King previously served as an executive officer and a member of the board of directors of Dynetics, Inc. (“Dynetics”) beginning in 2009, where he also served as Chief Executive Officer from 2015 to 2020. While at Dynetics, Mr. King led the company’s transformation into a leading mid-tier defense technology, hardware, product and systems company, overseeing Dynetics growth from approximately $180 million, to over $650 million in revenue, culminating in its $1.65 billion sale to Leidos Holdings, Inc. in 2020. Following Leidos’ acquisition of Dynetics, Mr. King served as Group President of Leidos Dynetics from January 2020 until his retirement in April 2022, where he was responsible for a $1.4 billion revenue business with more than 4,000 employees. Earlier in his career from 2003 to 2009, Mr. King served as Director of NASA’s Marshall Space Flight Center, where he led an organization with a $2.8 billion annual budget. Mr. King currently serves on private company boards and advises private equity firms and aerospace and defense organizations. He has served as Chairman of Applied Aerospace & Defense since December of 2022, Compensation Committee Chairman of Thompson Gray, Nominating Committee Chairman for Dynetics, and Chairman of multiple non-profit organizations. Mr. King holds a bachelor’s degree in Mechanical Engineering from the University of South Carolina, and a master’s degree in Business Administration from the Florida Institute of Technology.
Bill Hoglund, Chairman of Kratos’ Board of Directors, said, “We are pleased to welcome Dave King to the Kratos Board of Directors. Dave’s extensive experience in executive leadership and as a board member of a rapidly growing defense technology company, similar to Kratos, a group president of a large publicly traded defense and intelligence company, and various board and committee member positions, make him uniquely qualified for the Kratos Board. Dave brings extensive insight and experience in key areas relative to Kratos, including unmanned systems, hypersonic systems, solid rocket motors and space systems, and in scaling and ramping defense program production. We look forward to working with Dave as we continue the execution of Kratos’ strategy of being the premier defense technology, product and software-based company.”
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) a technology, hardware, 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 relevant 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 the 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 our probability of win 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 probability of win 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, command, control, communication, computing, combat, intelligence surveillance and reconnaissance (C5ISR) and microwave electronic products for missile, radar, air defense, missile defense, space, satellite, counter unmanned aircraft systems (CUAS), directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.
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. Such statements relate to a variety of matters, including, without limitation, Kratos’ expectations regarding its business strategy and other statements that are not purely statements of historical fact. 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 including, but not limited to: risks and uncertainties related to market conditions and general economic factors. 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.
PDF VersionKratos OpenSpace® Software-Based Architecture Provides Significant Benefits Over Traditional Hardware Options
SAN DIEGO, March 23, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company specializing in Defense, National Security and Global Markets, today announced that it has been selected by SKY Perfect JSAT Corporation (SKY Perfect JSAT) to develop and validate the 5G Non-Terrestrial Network (NTN) ground system for SKY Perfect JSAT’s Universal NTN initiative. Through this engagement, Kratos will support the technical validation and early-stage implementation of software-based 5G NTN ground infrastructure as part of SKY Perfect JSAT’s broader NTN strategy in the Asia-Pacific region.
The satellite industry is looking to 5G NTN as the future of seamless connectivity because it transforms satellites from specialized infrastructure into mainstream components of global mobile networks. Under increasing competitive pressure and demand for global broadband, 5G offers satellite operators and service providers the ability to expand their market and reduce costs to unlock new opportunities that were not possible in earlier generations of satellite technology. Kratos and SKY Perfect JSAT are collaborating to establish a foundation for phased validation and future co-innovation for 5G NTN in alignment with evolving 3GPP standards and the global 5G ecosystem.
“Satellite and terrestrial networks must advance together to realize the full potential of 5G, and that calls for partners who share our commitment to open architectures and global standards,” said Mr. Yuma Minowa, General Manager of the Universal NTN Strategy Division at SKY Perfect JSAT. “At this stage, we see strong potential in Kratos’ OpenSpace software-based architecture, particularly in terms of flexibility and scalability, as we move into the early phases of our NTN strategy. Our current focus is on initial validation and interoperability, starting from entity-based integration. We maintain a longer-term perspective on how 5G NTN could enable broader coverage, seamless roaming features, and new use cases across industries. Through phased validation and implementation, we aim to contribute to the maturation of 5G NTN technologies and the broader ecosystem together with the industry.”
OpenSpace enables satellite operators to adopt a standards-based, software-defined network architecture that supports interoperability, multi-vendor environments, and large-scale deployment, while maintaining compatibility with existing VSAT systems. By delivering 5G NR (New Radio) capabilities in software, Kratos provides a flexible and low-risk approach to ground system evolution, supporting early experimentation and future operational scalability for NTN use cases.
“Our work with SKY Perfect JSAT is about shaping the future of global connectivity. As the industry moves into 5G NTN, operators need ground systems that are as dynamic and software‑driven as the networks they’re joining,” commented Greg Quiggle, Senior Vice President of Product Management at Kratos. “Virtualization gives SKY Perfect JSAT the agility to scale, adapt, and innovate at the pace 5G demands. Together, we’re building a 5G NTN system that positions SKY Perfect JSAT to lead in a world where satellite and terrestrial networks operate as one.”
About Kratos OpenSpace Kratos’ OpenSpace family of solutions enables the digital transformation of satellite ground systems to become a more dynamic and powerful part of the space network. The family consists of three product lines: OpenSpace digitizers for converting satellite RF signals to be used in digital environments; OpenSpace quantum products, which are virtual versions of traditional hardware components; and the OpenSpace Platform, the first commercially available, fully orchestrated, software-defined ground system supporting multiple applications from Earth Observation and Remote Sensing to satellite communications. These three OpenSpace lines enable satellite operators and other service providers to implement digital operations at their own pace and in ways that meet their unique mission goals and business models. For more information about the OpenSpace family visit: www.kratosspace.com/virtual-ground/platform.
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.
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., March 16, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX) today announced a strategic collaboration with Elastic to accelerate search and analytics capabilities to better support joint government, defense, and intelligence community customers’ missions.
V2X is working with Elastic to integrate its industry-leading search and analytics capabilities to better meet stringent government and national security standards. By combining their expertise, the two companies will provide government and commercial organizations with faster access to critical information and improved decision-making while fully supporting demanding security and compliance mandates.
V2X and Elastic are driving advancements across key mission functions, including:
Multi-source data analysis: Through Elasticsearch, V2X is rapidly indexing, searching, and analyzing vast quantities of structured and unstructured data to generate actionable intelligence in real-time.
Optimized logistics and sustainment: Leveraging enhanced search visibility to improve supply chain tracking, predictive maintenance, and asset management.
Cyber and operational resilience: Detecting risks and anomalies faster through intelligent event correlation and data monitoring.
“Our partnership with Elastic allows V2X to embed world-class data search and analytics capabilities into our own workflows while also elevating what we can deliver for our customers,” said Jeremy C. Wensinger, President and Chief Executive Officer at V2X. “By utilizing Elasticsearch and Elastic Agent Builder, we can quickly surface mission-critical insights and improve security across the full lifecycle of government and defense operations.”
“Government missions depend on the ability to unify and interrogate vast volumes of structured and unstructured data,” said Chris Townsend, Global Vice President of Public Sector at Elastic. “By combining Elasticsearch with Elastic Agent Builder, V2X can surface actionable insight faster and strengthen decision-making across complex operational environments.”
V2X partners with industry leading technology providers like Elastic to expand its leadership in data-enabled mission solutions and accelerate digital transformation across all domains.
Disclaimer Capabilities described are subject to applicable contractual authorizations and accreditation processes.
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 IR@goV2X.com 719-637-5773
Media Contact Angelica Spanos Deoudes Director, Corporate Communications Angelica.Deoudes@goV2X.com 571-338-5195
Joint Team Continues to Progress Towards Completing an Integrated Uncrewed Collaborative Combat Aircraft (UCCA) System for the German Air Force
SAN DIEGO, March 13, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leader in defense, national security and global markets, and its partner Airbus announced today that the joint team continues to take steps towards completing an integrated Uncrewed Collaborative Combat Aircraft (UCCA) offering for the German Air Force and towards a maiden flight with a sovereign European mission system, the Multiplatform Autonomous Reconfigurable and Secure (MARS) system.
The two companies are bringing their respective industry-leading capabilities to integrate, missionize, and ultimately produce and deliver the Airbus UCCA System and are scheduled to fly later this year.
“By combining the Kratos Valkyrie with our MARS mission system, we are offering the German customer exactly what Germany and Europe urgently need in the current geopolitical situation: a proven flying uncrewed combat aircraft with a sovereign European mission system that does not have to be developed from scratch in a time-consuming and costly manner”, said Marco Gumbrecht, Head of Key Account Germany at Airbus Defence and Space. “Our objective is to deliver credible combat capability in time of relevance, while assuring key sovereign aspects. And we are confident that we can do this at a very affordable price – which is a key driver for UCCAs.”
Steve Fendley, President of Kratos Unmanned Systems Division, said, “We could not be more excited about the opportunity, the capability we’re providing, and the teaming relationship with Airbus. By taking the flight-proven and in-production Valkyrie and integrating the Airbus MARS mission system, the Airbus-missionized Valkyrie UCCA is a multi-mission, affordable system that can operate independently, in teams of UAS, or in Manned-Unmanned-Teaming operations. Along with the technical and production backing Airbus and Kratos bring, we are realizing an optimal capability system that can be bought and deployed as ‘affordable mass’; the consistent discriminator identified in today’s peer to peer wargames.”
The Kratos Valkyrie is a high-performance, runway-flexible tactical unmanned aerial vehicle capable of long-range flights at high-subsonic speeds. Combining affordability, survivability, long-range, high-subsonic speeds, maneuverability and ability to carry flexible mission kit configurations and mix of lethal weapons from its internal weapons bay and wing stations, the Valkyrie provides unmatched operational flexibility at an affordable price for both Department of War (DoW) and international customers.
With a length of 9.1 m, a wingspan of 8.2 m, range of over 5,000 kilometres, maximum take-off weight (MTOW) of around three tons, the Valkyrie can fly at an altitude of up to 45,000 feet. The maiden flight of the Valkyrie already took place in the USA in 2019; and additional aircraft have been flying regularly since that time. The maiden flight of the Airbus variant is scheduled for 2026.
Fully autonomous or commanded by a Eurofighter, the Valkyrie is designed to be able to take on sensitive mission tasks that would pose too great a danger to the pilot. The UCCA can service kinetic and non-kinetic mission sets in several roles. For the German customer, Airbus and Kratos are initially focusing on a specific role to deliver credible combat air power on time and on target.
In Manching, Germany, Airbus is currently preparing two Kratos Valkyries for their first flight with its European mission system.
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.
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., March 10, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX) today announces the extension of its longstanding partnership with General Motors (NYSE: GM), underscoring a continued commitment to technical excellence and workforce development across GM’s nearly 4,000 U.S. dealerships. Under this multi-year contract, valued at over $100 million and now extended through 2030, V2X will continue to design, deliver, and evaluate comprehensive technical training for all GM Service Technicians.
The partnership includes operation of the flagship GM Technical Training Center in Troy, MI, supporting GM’s renowned World Class Technician certification program. The program consistently exceeds industry standards. V2X Professional Services (VPS) plays an integral role in ensuring a steady pipeline of highly qualified technicians.
Now in its 26th year, the GM Service Technical College, in collaboration with V2X, trains more than 40,000 Service Technicians and Apprentices annually. The curriculum is continually updated to address emerging technologies and evolving vehicle model requirements, ensuring GM’s technician workforce is prepared to uphold the brand’s promise of exceptional customer service.
“The partnership with GM exemplifies the power of aligning technical training with a company’s evolving needs,” said Jeremy C. Wensinger, President and Chief Executive Officer of V2X. “Our work with GM has been pivotal in driving our growth across the commercial, government, and military technical training markets. Every day, we strive to earn and uphold GM’s trust in V2X.”
This ongoing collaboration is founded on a shared commitment to innovation in learning methods and training media. As a result, GM consistently leads the industry in the quality of facilities and resources dedicated to training, while achieving top-tier customer satisfaction ratings.
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 IR@goV2X.com 719-637-5773
Media Contact Angelica Spanos Deoudes Director, Corporate Communications Angelica.Deoudes@goV2X.com 571-338-5195
Recent Award is Related to Long-term Counter-UAS Production Contract
SAN DIEGO, March 03, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in Defense, National Security and Global Markets, today announced that it has recently received an approximate $7 million Production Contract Award for a Counter-UAS System designed to detect, track and classify threats, including low-profile unmanned aerial systems, cruise missiles, and other aerial systems. Kratos is an industry leading provider of military-grade hardware for air defense, missile, radar, hypersonic, strategic, directed energy and other systems. Work under this program award will be performed in a secure Kratos manufacturing facility. Due to security related and other considerations, no additional information will be provided.
Eric DeMarco, Kratos President and CEO, said, “Manufacturing military-grade hardware in large scale production runs, that must work every time, is hard and a clear differentiator of Kratos to our partners and customers. Drones, missiles, loitering munitions and other aerial threats are rapidly proliferating globally by our adversaries, and Kratos is proud to manufacture the systems to defend and protect our warfighters.”
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.
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, Feb. 26, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (“Kratos”) (NASDAQ: KTOS), a Technology, Hardware, Products, System and Software Company addressing the Defense, National Security and Commercial Markets, today announced the pricing of an underwritten offering of 14,285,714 shares of its common stock at a public offering price of $84.00 per share pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The net proceeds to Kratos from the offering, after deducting underwriting discounts and commissions, are expected to be approximately $1,172,999,977. Kratos has also granted the underwriters a 30-day option to purchase up to an additional 2,142,857 shares of common stock. All of the shares in the offering are to be sold by Kratos. The offering is expected to close on March 2, 2026, subject to customary closing conditions.
Kratos expects to use the net proceeds of the offering (i) to continue to make important capital expenditures to scale operations and meet the growing demands of The Department of War and our National Security customers with respect to existing programs, recently awarded contracts and new opportunities, (ii) to continue to invest in new product, system and software product development, including building and being first to market with National Security Systems, including in coordination with our customers and partners, (iii) to strengthen the Company’s balance sheet to allow us to be responsive to anticipated contract awards from our large, strategic pipeline of opportunities, (iv) to fund the recent acquisition of Nomad, pending acquisition of Orbit and select future strategic M&A opportunities, and (v) for general corporate purposes, including to pay fees and expenses in connection with the offering.
Baird, Raymond James, RBC Capital Markets and Truist Securities are acting as joint book-running managers for the offering.
The securities described above are being offered pursuant to an automatic shelf registration statement on Form S-3ASR (File No. 333-293786) that was previously filed by Kratos with the SEC and automatically became effective upon filing on February 26, 2026. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
The offering will be made only by means of a prospectus supplement and the accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the SEC and a final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Robert W. Baird & Co. Incorporated, 777 E. Wisconsin Avenue, Milwaukee, Wisconsin 53202, by telephone at (800) 792-2473, or by email at syndicate@rwbaird.com, Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863, or by email at prospectus@raymondjames.com, RBC Capital Markets, LLC, 200 Vesey Street, New York, New York 10281, by telephone at (877) 822-4089, or by email at equityprospectus@rbccm.com, and Truist Securities, Inc., 740 Battery Ave. SE, 3rd Floor, Atlanta, Georgia 30339, Attention: Equity Capital Markets or by email at TruistSecurities.prospectus@Truist.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC’s website at www.sec.gov.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) a technology, hardware, 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 relevant 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 the 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 our probability of win 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 probability of win 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, command, control, communication, computing, combat, intelligence surveillance and reconnaissance (C5ISR) and microwave electronic products for missile, radar, air defense, missile defense, space, satellite, counter unmanned aircraft systems (CUAS), directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter.
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. Such statements relate to a variety of matters, including, without limitation, Kratos’ expectations regarding the sale of shares of its common stock in the proposed public offering, use of the expected proceeds from the proposed public offering and other statements that are not purely statements of historical fact. 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 including, but not limited to: risks and uncertainties related to market conditions, the satisfaction of customary closing conditions related to the proposed public offering, and general economic factors. There can be no assurance that Kratos will be able to complete the proposed public offering on the anticipated terms, or at all. 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, Feb. 26, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (“Kratos”) (NASDAQ: KTOS), a Technology, Hardware, Products, System and Software Company addressing the Defense, National Security and Commercial Markets, today announced that it intends to offer for sale $1,000,000,000 of shares of its common stock in an underwritten offering pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The underwriters will have a 30-day option to purchase up to an additional $150,000,000 of shares of common stock from Kratos. All of the shares in the offering are to be sold by Kratos. The proposed offering is subject to market and other conditions.
Kratos expects to use the net proceeds of the offering (i) to finance customer and program targeted acquisitions, (ii) to fund investments and capital expenditures to scale and successfully execute on large, mission critical National Security priorities related to existing programs, recent program awards and significant high-probability pipeline opportunities, and (iii) for general corporate purposes, including to pay fees and expenses in connection with the offering.
Baird, Raymond James, RBC Capital Markets and Truist Securities are acting as joint book-running managers for the offering.
The securities described above are being offered pursuant to an automatic shelf registration statement on Form S-3ASR (File No. 333-293786) that was previously filed by Kratos with the SEC and automatically became effective upon filing on February 26, 2026. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
The offering will be made only by means of a prospectus supplement and the accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Robert W. Baird & Co. Incorporated, 777 E. Wisconsin Avenue, Milwaukee, Wisconsin 53202, by telephone at (800) 792-2473, or by email at syndicate@rwbaird.com, Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863, or by email at prospectus@raymondjames.com, RBC Capital Markets, LLC, 200 Vesey Street, New York, New York 10281, by telephone at (877) 822-4089, or by email at equityprospectus@rbccm.com, and Truist Securities, Inc., 740 Battery Ave. SE, 3rd Floor, Atlanta, Georgia 30339, Attention Equity Capital Markets or by email at TruistSecurities.prospectus@Truist.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the SEC’s website at www.sec.gov.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, hardware, 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 relevant 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 the 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 our probability of win 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 probability of win 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, command, control, communication, computing, combat, intelligence surveillance and reconnaissance (C5ISR) and microwave electronic products for missile, radar, air defense, missile defense, space, satellite, counter unmanned aircraft systems (CUAS), directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter.
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. Such statements relate to a variety of matters, including, without limitation, Kratos’ expectations regarding the sale of shares of its common stock in the proposed public offering, use of the expected proceeds from the proposed public offering and other statements that are not purely statements of historical fact. 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 including, but not limited to: risks and uncertainties related to market conditions, the satisfaction of customary closing conditions related to the proposed public offering, as well as general economic factors. There can be no assurance that Kratos will be able to complete the proposed public offering on the anticipated terms, or at all. 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.
Successfully integrated and validated systems across a complex, multi-partner ground architecture
SAN DIEGO, Feb. 26, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in Defense, National Security and Global Markets, has successfully completed the Critical Design Review (CDR) for the Space Development Agency’s Advanced Fire Control Ground Infrastructure (AFCGI) system. Kratos’ completion of the CDR with zero liens allows the program to continue an accelerated schedule and remain aligned with anticipated launch dates.
Kratos completed the AFCGI CDR only eight months after the program’s Preliminary Design Review, which itself was finished in just five months from contract award, underscoring the company’s ability to advance complex systems on a rapid timeline.
In 2024 Kratos was awarded a $116.7 million prime contract for the Advanced Fire Control Ground Infrastructure (AFCGI) program. AFCGI integrates advanced software, resilient ground systems and secure networks into a unified, operational cloud architecture supporting real-time fire control missions. The system delivers immediate, mission-relevant advantages to the warfighter. Achieving zero liens at CDR confirms that key technical risks, design challenges and open items have been fully resolved, enabling the program to proceed into implementation without material constraints.
Greg Caicedo, Senior Vice President of Kratos Space, said, “Completing the critical design review ahead of schedule highlights Kratos’ ability to deliver advanced, software-driven systems faster than traditional development models, enabled by our OpenSpace ground architecture. Kratos continues to invest in scalable, resilient capabilities that keep pace with operational and strategic demands.”
Kratos serves as the prime contractor for the AFCGI program, overseeing a multi-partner team responsible for delivering and operating ground segment capabilities for SDA’s Advanced Fire Control space vehicle demonstration systems. This includes management of a government-owned, contractor-operator (GOCO) demonstration environment and a secure cloud infrastructure supporting mission software and partner integration. Kratos’ scope spans program execution, systems engineering, integration, test, and ongoing operations across the full ground architecture. A key element of the program is the development of a Ground Resource Manager (GRM) for the FOO Fighter demonstration program (Fire-control On Orbit-support-to-the-war Fighter), designed to provide a scalable foundation for future Advanced Fire Control capabilities that may be incorporated into SDA’s Proliferated Warfighter Space Architecture.
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.
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.
Net income of $22.8 million; adjusted net income1 of $49.3 million, up 16% year-over-year
Adjusted EBITDA1 of $88.7 million; adjusted EBITDA1 margin of 7.3%
Diluted EPS of $0.72; record adjusted diluted EPS1 of $1.56, up 17% year-over-year
Cash flow from operations of $209.5 million
Full-Year Highlights
Revenue of $4.48 billion, up 4% year-over-year
Net income of $77.9 million; adjusted net income1 of $166.8 million, up 20% year-over-year
Adjusted EBITDA1 of $323.3 million, with a margin of 7.2%
Diluted EPS of $2.45; adjusted diluted EPS1 of $5.24, up 21% year-over-year
Cash flow from operations of $182.0 million
Achieved net debt reduction of $116 million and 2.2x net leverage ratio1
2026 Guidance
Establishing full-year 2026 guidance with 6% revenue and adjusted EBITDA1 growth at mid-point
RESTON, Va., Feb. 23, 2026 /PRNewswire/ — V2X, Inc. (NYSE:VVX) today announced financial results for the fourth quarter and full-year 2025 ended December 31, 2025, and established guidance for full-year 2026.
“V2X ended 2025 with another quarter of strong performance, underscoring our team’s successful execution of our strategy,” said Jeremy C. Wensinger, President and Chief Executive Officer. “We are entering 2026 with significant momentum. Our recent awards and alignment to National Security priorities for readiness and modernization are creating tailwinds for continued growth. Additionally, we are continuing to prioritize investments and expand partnerships to deliver innovative solutions that anticipate and fulfill our customers’ requirements. These growth priorities are further supported by the strength of our capital structure. As we look ahead, V2X is well positioned to continue to deliver readiness enabling solutions to support our customers’ evolving requirements, while generating enhanced value for our shareholders.”
Fourth Quarter 2025 Results
In the fourth quarter, V2X reported record revenue of $1.22 billion, which represents 5% 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 $22.8 million. Adjusted net income1 was $49.3 million, an increase of $6.6 million dollars, or 16%, year-over-year. Fourth quarter GAAP diluted EPS was $0.72. Adjusted diluted EPS1 for the quarter increased 17% year-over-year to $1.56.
V2X delivered record adjusted EBITDA1 of $88.7 million, with a margin of 7.3%, representing an increase of $2.6 million dollars, or 3%, from the prior year.
Fourth quarter net cash provided by operating activities was $209.5 million. Adjusted net cash provided by operating activities1 increased 3% year-over-year to $172.4 million.
At the end of the fourth quarter, net debt for V2X was $758 million, representing an improvement of $116 million year-over-year and achieving its 2.2x net leverage ratio1.
Total backlog as of December 31, 2025 was $11.1 billion. Funded backlog1 was $2.3 billion. Book-to-bill1 in the quarter was approximately 0.7x.
Full-Year 2025 Results
Full-year revenue was $4.48 billion, representing a 4% increase compared to the previous year.
Net income for the year was $77.9 million. Adjusted net income1 was $166.8 million, an increase of $27.9 million dollars, or 20%, year-over-year. Full-year GAAP diluted EPS was $2.45. Adjusted diluted EPS1 for 2025 was $5.24, increasing 21% year-over-year. Full-year adjusted EBITDA1 was $323.3 million with a margin of 7.2%.
Net cash provided by operating activities in 2025 was $182.0 million. Adjusted net cash provided by operating activities1 was $148.3 million.
2026 Guidance
Expectations for the Company’s full year 2026 financial results are as follows:
$ millions, except for per share amounts
2026 Guidance
2026 Mid-Point
Revenue
$4,675
$4,825
$4,750
Adjusted EBITDA1
$335
$350
$343
Adjusted Diluted Earnings Per Share1
$5.50
$5.90
$5.70
Adjusted Net Cash Provided by Operating Activities1
$150
$170
$160
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.
Fourth Quarter Conference Call
Management will conduct a conference call with analysts and investors at 4:30 p.m. ET on Monday, February 23, 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/3do4py9pnRx
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 March 9, 2026, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10195666.
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.
___________________________
1 See “Key Performance Indicators and Non-GAAP Financial Measures” for descriptions and reconciliations.
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; statements about the benefits and expectations with respect to the strategic acquisition; and our belief that our innovation strategy, visibility, and targeted growth opportunities provide substantial 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.
PDF VersionJoint team will complete preliminary design of the GEK1500 engine to meet high performance and aggressive cost targets, leveraging GEK800 maturation to accelerate delivery
SAN DIEGO, Feb. 23, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leader in defense, national security and global markets, and GE Aerospace (NYSE: GE), today announced a joint U.S. Air Force contract for $12.4M to design a next generation engine for small Collaborative Combat Aircraft (CCA). The initial phase of the program will complete the preliminary design of the GEK1500 engine to meet demanding performance requirements while achieving aggressive cost targets for affordable mass.
Stacey Rock, President of Kratos Turbine Technologies Division, said, “Building on the success of our GEK800 engine program, the development of the GEK1500 further demonstrates our team’s ability and commitment to deliver high-performance, affordable, jet engines that can be rapidly produced to meet the demands of our defense customers.”
“Lessons learned from recent GEK800 altitude testing are directly informing GEK1500 —improving thrust, power generation, and lifecycle cost — so we can meet CCA requirements without compromising affordability or schedule,” said Steve “Doogie” Russell, Vice President and General Manager of Edison Works at GE Aerospace.
The GEK1500 is a 1,500-lb thrust jet engine that could potentially power unmanned aerial systems (UAS), collaborative combat aircraft (CCAs), and missiles. The design of the GEK1500 leverages the GEK800 cruise missile engine architecture which is successfully completing technical maturation. An additional option on the contract, if exercised, would enable the team to assess key design risks and characterize engine performance under relevant flight and installation conditions for the GEK1500 engine. The Air Force has prioritized the development of high performing and low-cost engines to enable the disruptive capabilities of small CCAs.
GEK1500 Engine (Concept Rendition: Kratos and GE Aerospace)
Recent altitude testing of the GEK800 engine demonstrated critical technologies that will provide future systems increased range, increased thrust, decreased life cycle cost, and increased electrical power. The investments and progress made to date on the GEK800 will reduce the cost and schedule timelines for the GEK1500 and provide enhanced performance for small CCAs.
In June, Kratos and GE Aerospace announced the signing of a formal teaming agreement to advance propulsion technologies for the next generation of affordable unmanned aerial systems and CCA-type aircraft, covering the GEK800 and a framework for partnering on additional engines. The result is another formal teaming agreement covering the GEK1500. This collaboration strengthens the companies’ ongoing partnership and builds on a 2024 Memorandum of Understanding (MOU) to advance the development and production of small, cost-effective engines for unmanned platforms. The teaming agreement expanded on that MOU and provided the framework for the two companies to develop, manufacture, test, and field the GEK800 and additional GEK engines in higher thrust classes.
Kratos brings more than 25 years of experience developing and producing small, affordable engines for UAS, drones, and missile platforms. GE Aerospace adds a century of expertise in propulsion technology and the ability to scale advanced designs into high-rate production, helping bridge the gap from prototype to deployment.
About GE Aerospace GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 49,000 commercial and 29,000 military aircraft engines. With a global team of approximately 53,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow and the future at www.geaerospace.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.
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, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
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