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EX-99.1

2 ktos202603298kexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Press Contact:

Claire Cantrell

claire.cantrell@kratosdefense.com

Investor Information:

877-934-4687

investor@kratosdefense.com

Kratos Reports First Quarter 2026 Financial Results and Increases Fiscal FY26 Financial Guidance

First Quarter 2026 Revenues of $371.0 Million Reflect 22.6 Percent Growth and 15.8 Percent Organic Growth Over First Quarter 2025 Revenues of $302.6 Million

Unmanned Systems First Quarter 2026 Revenues of $82.6 Million Reflect 30.9 Percent Organic Growth Over First Quarter 2025 Revenues of $63.1 Million

Kratos Government Solutions First Quarter 2026 Revenues of $288.4 Million Reflect 11.8 Percent Organic Growth Over First Quarter 2025 Revenues of $239.5 Million

First Quarter 2026 Consolidated Book to Bill Ratio of 1.6 to 1 and Bookings of $605.2 Million

Last Twelve Months Ended March 29, 2026, Consolidated Book to Bill Ratio of 1.2 to 1 and Bookings of $1.715 Billion

Fiscal 2026 Revenue Forecast of $1.700 Billion to $1.760 Billion and Adjusted EBITDA Forecast of $170.0 Million to $176.0 Million, including Recently Closed Orbit Technologies, Ltd. Acquisition

SAN DIEGO, CA, May 6, 2026 – Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leader in defense, national security and global markets, today reported its first quarter 2026 financial results, including Revenues of $371.0 million, Operating Income of $4.7 million, Net Income of $11.9 million, Adjusted EBITDA of $38.7 million and a consolidated book to bill ratio of 1.6 to 1.0.

First quarter 2026 Net Income and Operating Income includes non-cash stock compensation expense of $15.0 million, and Company-funded Research and Development (R&D) expense of $10.7 million, including efforts in our Space, Satellite, Unmanned Systems and Microwave Electronic businesses.

Kratos reported in the first quarter 2026 GAAP Net Income of $11.9 million and GAAP Net Income per share of $0.07, compared to GAAP Net Income of $4.5 million and GAAP Net

Income per share of $0.03, for the first quarter of 2025. Adjusted earnings per share (EPS) were $0.16 for the first quarter of 2026, compared to $0.12 for the first quarter of 2025.

First quarter 2026 Revenues of $371.0 million increased $68.4 million, reflecting 22.6 percent growth and 15.8 percent organic growth from first quarter 2025 Revenues of $302.6 million. Organic revenue growth was reported in our Unmanned Systems (KUS) segment of 30.9 percent and in our Government Solutions (KGS) segment of 11.8 percent. The most notable growth in our KGS Segment was in our Defense Rocket Systems, Turbine Technologies and Microwave Products businesses, with organic revenue growth rates of 45.8 percent, 20.3 percent and 12.3 percent, respectively, compared to the first quarter of 2025.

First quarter 2026 Cash Flow Used in Operations was $27.4 million, primarily reflecting the working capital requirements related to the 22.6 percent revenue growth impacting our receivables, and also including increases in inventory balances related to ramps in production and investments we are making related to certain development initiatives in our KUS segment. Free Cash Flow Used in Operations for the first quarter of 2026 was $43.1 million after funding $19.9 million of capital expenditures, and after netting $4.2 million of proceeds from sales of company owned Valkyries.

For the first quarter of 2026, KUS generated Revenues of $82.6 million, compared to $63.1 million in the first quarter of 2025, with the increase primarily driven by Valkyrie-related activity. KUS’s Operating Income was $1.3 million in the first quarter of 2026, compared to an Operating Loss of $1.7 million in the first quarter of 2025. KUS’s Adjusted EBITDA for the first quarter of 2026 was $5.2 million, compared to $1.7 million for the first quarter of 2025, reflecting the impact of the revenue volume and mix. KUS’s book-to-bill ratio for the first quarter of 2026 was 1.2 to 1.0 and 1.1 to 1.0 for the twelve months ended March 29, 2026, with bookings of $96.2 million for the three months ended March 29, 2026, and bookings of $340.0 million for the twelve months ended March 29, 2026. Total backlog for KUS at the end of the first quarter of 2026 was $375.4 million, compared to $361.7 million at the end of the fourth quarter of 2025.

For the first quarter of 2026, our KGS segment Revenues of $288.4 million increased from Revenues of $239.5 million in the first quarter of 2025, reflecting a 20.4 percent increase and an 11.8 percent organic growth rate, excluding the impact of the recent acquisitions of Nomad Global Communication Solutions (Nomad) and Orbit Technologies Ltd (Orbit). The increased Revenues includes organic revenue growth across our Defense and Rocket Support business, Turbine Technologies and Microwave Products businesses, with organic revenue growth rates of 45.8 percent, 20.3 percent, and 12.3 percent, respectively, over the first quarter of 2025.

ktos-202602230001069258false00010692582026-02-232026-02-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 23, 2026

Kratos Defense & Security Solutions, Inc. (Exact name of registrant as specified in its charter)

Delaware001-3446013-3818604 (State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

1 Chisholm Trail, Suite 300 Round Rock, TX 78681 (Address of Principal Executive Offices) (Zip Code)

(512) 238-9840 (Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbols(s)Name of each exchange on which registered Common Stock, $0.001 par valueKTOSThe NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.  Results of Operations and Financial Condition

On February 23, 2026, Kratos Defense & Security Solutions, Inc. (the “Company”) issued a press release regarding the Company’s financial results for the fourth quarter and full year of 2025. The full text of the Company’s press release is attached hereto as Exhibit 99.1.

Item 9.01.  Exhibits.

Exhibit No. Description 99.1 February 23, 2026  Press Release by Kratos Defense & Security Solutions, Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Kratos Defense & Security Solutions, Inc.

Date: February 23, 2026 By:/s/ Deanna H. Lund Deanna H. Lund Executive Vice President, Chief Financial Officer