Jun 2026 (Q2 FY26) — Aug 4, 2026
Kratos Q2 FY26 — Strong Organic Growth and Accelerating Engine/Hypersonic Programs
Read the full callKratos (KTOS) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Kratos earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 459 | +30.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -0.3 | −1.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 4.4 | +51.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$39.17 −3.09% · −$1.25
Performance −52.9% 1Y
1Y: $83.12 on 17 Oct 2025 → $39.17. High $130.72 (16 Jan 2026), low $39.17 (19 Oct 2026).
- Previous close
- $40.42
- 52-week range
- $39.17 – $130.72
- One year
- −54.80%
Overview
- Symbol
- KTOS
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Kratos Q1 FY26 — Record Backlog, Strong Organic Growth, and Increased Profitability
Read the full callDec 2025 (Q4 FY25) — Feb 23, 2026
Kratos Q4 FY25 — Record Backlog and Accelerating Growth
Read the full callEvery analysed call
Kratos earnings calls (KTOS)
Financials
What the filings say
Net profit, year on year: +52% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 276 | 283 | 303 | 352 | 348 | 345 | 371 | 459 |
| Operating profit | 7 | 3 | 7 | 4 | 7 | 8 | 5 | -2 |
| Operating margin | 2.4% | 1.1% | 2.2% | 1.1% | 2.0% | 2.4% | 1.3% | −0.3% |
| Other income | -1 | 1 | -1 | 1 | 5 | 4 | 5 | 9 |
| Profit before tax | 6 | 4 | 5 | 5 | 12 | 12 | 10 | 7 |
| Tax rate | 44.8% | 2.5% | 16.7% | 37.0% | 26.9% | 51.2% | −21.4% | 37.1% |
| Net profit | 3 | 4 | 5 | 3 | 9 | 6 | 12 | 4 |
| EPS ($ per share) | 0.02 | — | 0.03 | 0.02 | 0.05 | — | 0.07 | 0.02 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -724 | -712 | -632 | -634 | -671 | -680 | -664 | -642 |
| Total liabilities | 491 | 597 | 623 | 629 | 604 | 634 | 598 | 471 |
| Fixed assets | 67 | 117 | 144 | 168 | 213 | 244 | 288 | 362 |
| Total assets | 1,010 | 1,186 | 1,563 | 1,590 | 1,552 | 1,633 | 1,951 | 2,467 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 18 | 29 | 45 | 35 | -26 | 65 | 50 | -42 |
| Cash from investing | 41 | -44 | -87 | -52 | -177 | -44 | -70 | -88 |
| Cash from financing | 2 | 4 | 248 | -9 | -63 | -31 | 278 | 361 |
| Net cash flow | 52 | -10 | 209 | -32 | -268 | -8 | 257 | 231 |
| Capital expenditure | — | — | -36 | -46 | -45 | -52 | -58 | -95 |
| Free cash flow | — | — | 9 | -11 | -71 | 13 | -8 | -137 |
KTOS revenue by segment
Kratos Government Solutions grew from 77% to 83% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Kratos Government Solutions | 77% | 78% | 79% | 79% | 75% | 80% | 78% | 83% | +36.4% |
| Unmanned Systems | — | — | 21% | 21% | — | — | 22% | 17% | +8.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
KTOS operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|
| Book-to-bill ratio | 1.3 ratioWe finished 2025, exceeding our financial objectives for the fourth quarter, generating approximately 20% Q4 year-over-year organic revenue growth, generating a 1.3:1 book-to-bill ratio on top of this 20% growth rate, having a record backlog of $1.573 billion, a record opportunity pipeline of $13.7 billion and with the opportunity set for Kratos having never been stronger and expected to continue to increase based on recent events.Source: earnings call transcript | 1.6 ratioThe success is reflected in our Q1 results, including a 1.6:1 book-to-bill ratio, a record backlog of $2 billion and increased opportunity pipeline up to $14 billion, and the $14 billion is after the 1.6:1 book-to-bill, reflecting Kratos' accelerating growth trajectory.Source: earnings call transcript | +23.1% |
| Backlog | $1.573BWe finished 2025, exceeding our financial objectives for the fourth quarter, generating approximately 20% Q4 year-over-year organic revenue growth, generating a 1.3:1 book-to-bill ratio on top of this 20% growth rate, having a record backlog of $1.573 billion, a record opportunity pipeline of $13.7 billion and with the opportunity set for Kratos having never been stronger and expected to continue to increase based on recent events.Source: earnings call transcript | $2BThe success is reflected in our Q1 results, including a 1.6:1 book-to-bill ratio, a record backlog of $2 billion and increased opportunity pipeline up to $14 billion, and the $14 billion is after the 1.6:1 book-to-bill, reflecting Kratos' accelerating growth trajectory.Source: earnings call transcript | +27.1% |
| Book-to-bill ratio space and satellite | 1.2 ratioAnd as a result, Kratos' space and satellite business opportunity pipeline is particularly robust even after generating a fourth quarter and 12-month book-to-bill ratio of 1.2:1 and now having a record backlog of $600 million at the end of Q4.Source: earnings call transcript | 3 ratioThe business is rapidly accelerating, including as reflected by a 3:1 book-to-bill ratio in Q1 for our satellite business.Source: earnings call transcript | +150% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 79%
- Non Us 20% ↓ 1 pt
- Middle East 7% ↑ 2 pt
- Europe 6% ↑ 1 pt
- Asia Pacific 6% ↑ 1 pt
- Other North America 2%
- Other Countries <1% ↓ 3 pt
As KTOS cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
449 filings between Oct 27, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$134.79M
284 sales by 16 insiders
96% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 31
- Award — granted as compensation
- 56
- Option exercise — converted options into shares
- 77
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DEMARCO ERIC M | — | $82.68M | Aug 14, 2026 |
| HOGLUND WILLIAM A | — | $7.75M | Apr 1, 2026 |
| Lund Deanna H | — | $7.63M | Sep 21, 2026 |
| Fendley Steven S. | — | $7.48M | Aug 24, 2026 |
| Carrai Phillip D | — | $5.83M | Oct 15, 2026 |
| Rock Stacey G | — | $4.91M | Jun 30, 2026 |
| Adelman Jonah | — | $4.03M | May 26, 2026 |
| Jarvis Scot B | — | $3.95M | Aug 18, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 800 | $30.8K |
| Oct 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 1,603 | $65.0K |
| Oct 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 4,097 | $163.3K |
| Sep 21, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 4,100 | $199.1K |
| Sep 21, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 2,900 | $142.4K |
| Sep 15, 2026 | Mendoza Marie SVP & General Counsel | Sale 10b5-1 plan | 1,000 | $48.5K |
| Sep 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 3,380 | $162.8K |
| Sep 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 2,700 | $127.6K |
| Sep 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 420 | $20.5K |
| Aug 24, 2026 | Fendley Steven S. President, US Division | Sale 10b5-1 plan | 7,000 | $393.1K |
| Aug 18, 2026 | Jarvis Scot B Director | Sale | 10,000 | $635.0K |
| Aug 17, 2026 | Mendoza Marie SVP & General Counsel | Sale 10b5-1 plan | 1,513 | $97.4K |
| Aug 17, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 20,000 | $1.26M |
| Aug 17, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 100 | $6.5K |
| Aug 17, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 1,200 | $77.0K |
| Aug 17, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 5,200 | $329.8K |
| Aug 14, 2026 | DEMARCO ERIC M President & CEO | Sale 10b5-1 plan | 19,638 | $1.24M |
| Aug 14, 2026 | DEMARCO ERIC M President & CEO | Sale 10b5-1 plan | 9,100 | $602.2K |
| Aug 14, 2026 | DEMARCO ERIC M President & CEO | Sale 10b5-1 plan | 4,946 | $321.8K |
| Aug 14, 2026 | DEMARCO ERIC M President & CEO | Sale 10b5-1 plan | 266,316 | $17.13M |
| Aug 5, 2026 | Carter David M President, DRSS Division | Sale 10b5-1 plan | 100 | $5.9K |
| Aug 5, 2026 | Carter David M President, DRSS Division | Sale 10b5-1 plan | 300 | $17.2K |
| Aug 5, 2026 | Carter David M President, DRSS Division | Sale 10b5-1 plan | 1,500 | $84.3K |
| Aug 5, 2026 | Carter David M President, DRSS Division | Sale 10b5-1 plan | 2,100 | $116.2K |
| Aug 3, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 200 | $9.3K |
| Aug 3, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 3,200 | $156.6K |
| Aug 3, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 1,600 | $76.8K |
| Jul 27, 2026 | Fendley Steven S. President, US Division | Sale 10b5-1 plan | 1,100 | $52.6K |
| Jul 27, 2026 | Fendley Steven S. President, US Division | Sale 10b5-1 plan | 5,900 | $277.3K |
| Jul 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 3,900 | $194.2K |
| Jul 15, 2026 | Mendoza Marie SVP & General Counsel | Sale 10b5-1 plan | 1,013 | $52.5K |
| Jul 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 100 | $5.4K |
| Jul 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 400 | $21.1K |
| Jul 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 1,400 | $72.9K |
| Jul 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 700 | $35.5K |
| Jul 8, 2026 | Carter David M President, DRSS Division | Sale 10b5-1 plan | 300 | $15.4K |
| Jul 8, 2026 | Carter David M President, DRSS Division | Sale 10b5-1 plan | 3,700 | $186.4K |
| Jul 1, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 2,600 | $138.3K |
| Jul 1, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 1,200 | $62.9K |
| Jul 1, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 700 | $37.7K |
| Jul 1, 2026 | Lund Deanna H EVP & CFO | Sale 10b5-1 plan | 500 | $25.4K |
| Jun 30, 2026 | Rock Stacey G President, KTT Division | Sale 10b5-1 plan | 4,675 | $233.8K |
| Jun 29, 2026 | Fendley Steven S. President, US Division | Sale 10b5-1 plan | 7,000 | $338.6K |
| Jun 15, 2026 | Mendoza Marie SVP & General Counsel | Sale 10b5-1 plan | 100 | $5.9K |
| Jun 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 3,600 | $208.8K |
| Jun 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 2,700 | $154.7K |
| Jun 15, 2026 | Mendoza Marie SVP & General Counsel | Sale 10b5-1 plan | 600 | $34.9K |
| Jun 15, 2026 | Mendoza Marie SVP & General Counsel | Sale 10b5-1 plan | 800 | $46.0K |
| Jun 15, 2026 | Carrai Phillip D President, STC Division | Sale 10b5-1 plan | 200 | $11.8K |
| Jun 8, 2026 | Fendley Steven S. President, US Division | Sale | 33,250 | $1.93M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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