10-Q

Quarterly report

✓ VerifiedKratos reported Q2 2026 revenue of $458.8 million, up $107.3 million or 30.5%, with net income of $4.4 million, and ended the quarter with $1,437.6 million in cash and $2.084 billion in total backlog.

Filed Aug 4, 2026 · 16:28 ET

Summary

Total revenues increased $107.3 million to $458.8 million for the three months ended June 28, 2026 from $351.5 million a year earlier, driven by the Defense Rocket Support hypersonic business and the Nomad and Orbit acquisitions.
Kratos completed the acquisition of Orbit Technologies Ltd. on March 2, 2026 for approximately $352.7 million in cash, a satellite-based communication systems provider now included in the KGS segment.
The Company acquired Nomad Global Communication Solutions on February 11, 2026 for 972,136 shares valued at $88.8 million plus approximately $36.8 million in cash.
Kratos and RAFAEL committed up to a combined total of $175 million to the Prometheus Energetics solid rocket motor joint venture near Crane, Indiana, and Kratos has contributed approximately $11.9 million with projected SRM production beginning in 2027.
Total backlog was approximately $2.084 billion at June 28, 2026, of which $1.572 billion was funded, up from $1.414 billion a year earlier.
Cash and cash equivalents rose to $1,437.6 million from $560.6 million at December 28, 2025, and total long-term debt remained at zero following the July 2, 2025 extinguishment of Term Loan A.

Key facts

Q2 total revenues: $458.8 million
From the filing for Q2 total revenues
“Revenues increased $107.3 million to $458.8 million for the three months ended June 28, 2026 from $351.5 million for the three months ended June 29, 2025.”
Q2 net income: $4.4
From the filing for Q2 net income
“Net income $ 4.4 $ 2.9 $ 16.3 $ 7.4”
Cash and equivalents: $1,437.6 million
From the filing for Cash and equivalents
“As of June 28, 2026, we had cash and cash equivalents of $1,437.6 million compared with cash and cash equivalents of $560.6 million as of December 28, 2025”
Total backlog: $2.084 billion
From the filing for Total backlog
“On June 28, 2026, we had approximately $2.084 billion of total backlog, of which $1.572 billion was funded.”
Orbit acquisition price: $352.7 million
From the filing for Orbit acquisition price
“The purchase price paid for 100 percent of the ordinary shares of Orbit was approximately $ 352.7 million in cash”
Nomad consideration: $88.8 million
From the filing for Nomad consideration
“972,136 shares of Kratos common stock with a fair value of $ 88.8 million issued on February 11, 2026 to the former Nomad shareholders”
Prometheus JV commitment: $175 million
From the filing for Prometheus JV commitment
“jointly committed up to a combined total of $ 175 million in capital for the establishment of Prometheus”
Long-term debt: zero
From the filing for Long-term debt
“Our total long-term debt at June 28, 2026 remains at zero reflecting the extinguishment on July 2, 2025 of all outstanding Term Loan A debt under the 2022 Credit Facility.”

Why it mattersThe quarter reflects the integration of Orbit's satellite communications and Nomad's mobile operations centers into Kratos, alongside a debt-free balance sheet and record backlog tied to hypersonics, drones, and rocket support.

Filed: Aug 4, 2026
Accepted: 2026-08-04 20:28Z
Period: Jun 28, 2026
Accession no.: 0001069258-26-000077
Size: 9.4 MB
Index: Filing index

Summary

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