Kratos Defense & Security Solutions, Inc.
Kratos Reports Fourth Quarter and Full Year 2023 Financial Results with Revenue Growth and Improved Adjusted EBITDA
Summary
Kratos Defense & Security Solutions, Inc. reported its financial results for the fourth quarter and full year of 2023, showcasing revenue growth and adjusted EBITDA improvement. The company's fourth quarter 2023 revenues were $273.8 million, reflecting 9.8 percent growth over the same period in 2022. Full year 2023 revenues increased by 15.5 percent to $1.037 billion. Kratos' Government Solutions segment drove much of this growth, with revenues increasing by 21.9 percent to $824.9 million. Adjusted EBITDA for the full year 2023 was $95.4 million, compared to $70.7 million in 2022. Kratos also provided its initial 2024 financial guidance, forecasting revenues between $1,125 million and $1,150 million and Adjusted EBITDA between $102 million and $107 million.
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About Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. is a leading provider of innovative technology for national security and commercial markets. The company's primary function is to deliver advanced systems for defense, communications, information technology, and cybersecurity operations. Kratos' diverse offerings include unmanned aerial systems, missile defense capabilities, satellite communications, and electronic warfare technologies. By focusing on high-performance and affordable solutions, Kratos serves a variety of sectors such as the U.S. Department of Defense, other government agencies, and commercial aerospace industries. The firm has carved out a unique niche in deploying cost-effective technology solutions that support critical national security and defense missions. Headquartered in San Diego, California, Kratos plays a significant role in shaping defense capabilities with its forward-looking strategies and commitment to innovation, addressing evolving threats and challenges in the modern geopolitical landscape.
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