Kratos Defense & Security Solutions, Inc. (KTOS) Financial Statements (2024 and earlier)

Company Profile

Business Address 10680 TREENA STREET
SAN DIEGO, CA 92131
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 376 - Guided Missiles And Space Vehicles And Parts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments81,300349,400380,800172,600182,700129,600
Cash and cash equivalents81,300349,400380,800172,600182,700129,600
Restricted cash and investments   700 300400
Receivables328,50093,90095,30085,00064,600270,800
Inventory, net of allowances, customer advances and progress billings, including:125,50091,70081,20061,10046,80050,400
Inventory     46,80051,000
Progress payments netted against inventory for long-term contracts or programs      (600)
Other undisclosed inventory, net of allowances, customer advances and progress billings125,50091,70081,20061,100  
Prepaid expense11,9009,80012,0009,4008,90012,900
Contract with customer, asset, after allowance for credit loss  190,800177,000179,400172,800
Disposal group, including discontinued operation    3,3008,300 
Other current assets35,40022,50017,80011,40010,3007,200
Total current assets:582,600758,100764,800522,200494,700471,300
Noncurrent Assets
Operating lease, right-of-use asset47,40038,50042,90042,100
Property, plant and equipment    116,90067,10061,200
Intangible assets, net (including goodwill)613,400537,100526,900495,100441,800483,200
Goodwill558,200493,900483,900455,600425,700461,200
Intangible assets, net (excluding goodwill)55,20043,20043,00039,50016,10022,000
Other noncurrent assets95,00087,50084,4009,7006,5008,300
Other undisclosed noncurrent assets213,100168,300143,800   
Total noncurrent assets:968,900831,400798,000663,800515,400552,700
TOTAL ASSETS:1,551,5001,589,5001,562,8001,186,0001,010,1001,024,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities91,100126,400139,700125,200119,800130,900
Interest and dividends payable1,5001,5001,6001,6001,700
Employee-related liabilities47,30048,10037,10033,50034,800
Accounts payable57,30050,40055,40053,80046,60048,800
Accrued liabilities33,80027,20034,70032,70038,10045,600
Deferred revenue  58,10034,00034,300
Debt1,7001,2009009,900 800
Provision for loss on contracts1,2002,8003,600  10,300
Disposal group, including discontinued operation9008003,1003,3005,3001,100
Other liabilities15,60025,70011,90010,0004,7008,900
Contract with customer, liability34,900
Other undisclosed current liabilities123,7006,1004,400  36,900
Total current liabilities:234,200221,100197,600182,700164,700188,900
Noncurrent Liabilities
Long-term debt and lease obligation250,200329,400339,600332,700294,200293,500
Long-term debt, excluding current maturities250,200296,700301,000295,100294,200293,500
Liabilities, other than long-term debt119,60078,70085,50081,50031,90023,100
Disposal group, including discontinued operation, liabilities1,4002,5002,5002,8006,4003,800
Other liabilities77,40076,20083,00078,70025,50019,300
Operating lease, liability40,80032,70038,60037,600
Other undisclosed noncurrent liabilities      7,000
Total noncurrent liabilities:369,800408,100425,100414,200326,100323,600
Total liabilities:604,000629,200622,700596,900490,800512,500
Temporary equity, carrying amount11,20015,20014,80015,000  
Equity
Equity, attributable to parent936,300945,100925,300574,100519,300511,500
Additional paid in capital1,608,4001,578,9001,556,3001,286,5001,244,5001,233,700
Accumulated other comprehensive income (loss)(800)6001,400(400)(700)(1,400)
Accumulated deficit(671,300)(634,400)(632,400)(712,000)(724,500)(720,800)
Total equity:936,300945,100925,300574,100519,300511,500
TOTAL LIABILITIES AND EQUITY:1,551,5001,589,5001,562,8001,186,0001,010,1001,024,000

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues898,300811,500747,700717,500618,000751,900
Revenue, net751,900
Cost of revenue
(Cost of Goods and Services Sold)
(672,300)(586,400)(544,500)(527,500)(448,300)(554,600)
Gross profit:226,000225,100203,200190,000169,700197,300
Operating expenses(221,800)(197,200)(173,200)(151,100)(135,400)(202,600)
Other undisclosed operating loss(6,800) (700)(900)(3,800)(500)
Operating income (loss):(2,600)27,90029,30038,00030,500(5,800)
Nonoperating expense(30,100)(23,500)(22,500)(22,300)(21,800)(45,000)
Interest and debt expense(3,000)(2,700)(2,600)(2,500)(21,600)(29,100)
Other undisclosed income from continuing operations before equity method investments, income taxes   2,6002,50021,60029,100
Income (loss) from continuing operations before equity method investments, income taxes:(35,700)1,7006,80015,7008,700(50,800)
Other undisclosed income from continuing operations before income taxes3,0002,700    
Income (loss) from continuing operations before income taxes:(32,700)4,4006,80015,7008,700(50,800)
Income tax expense (benefit)(1,400)(3,900)73,500(4,800)(4,600)8,200
Income (loss) from continuing operations:(34,100)50080,30010,9004,100(42,600)
Income (loss) before gain (loss) on sale of properties:(1,600)79,40012,600(3,500)(42,700)
Income (loss) from discontinued operations900(2,100)(900)1,700(7,600)(100)
Net income (loss):(33,200)(1,600)79,40012,600(3,500)(42,700)
Net income (loss) attributable to noncontrolling interest(3,700)(400)200(100)  
Net income (loss) available to common stockholders, diluted:(36,900)(2,000)79,60012,500(3,500)(42,700)

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(33,200)(1,600)79,40012,600(3,500)(42,700)
Other comprehensive income (loss)(1,400)(800)1,800300700300
Comprehensive income (loss):(34,600)(2,400)81,20012,900(2,800)(42,400)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(3,700)(400)200(100)  
Comprehensive income (loss), net of tax, attributable to parent:(38,300)(2,800)81,40012,800(2,800)(42,400)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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