Kratos Defense & Security Solutions, Inc. (KTOS) Income Statement
KTOS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKTOS revenue and net income
Where KTOS's revenue goes
2025Each bar shows an amount and its share of revenue. KTOS kept 1.6% of revenue as net income.
KTOS profit margins
KTOS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +18.5% | +14.5% | +12.5% | +7.4% |
| Gross profit | +3.9% | +9.7% | +8.0% | +6.3% |
| Operating income | −4.5% | — | −1.1% | — |
| Net income | +35.0% | — | −22.7% | +1.1% |
| EPS (diluted) | +4.1% | +22.1% | +5.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KTOS quarterly EPS vs estimates
Kratos Defense & Security Solutions beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.15).
KTOS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.14B | $1.04B | $898.3M | $811.5M | $747.7M | $717.5M | $618.0M | $751.9M | $668.7M |
| Cost of revenue | $1.05B | $849.1M | $768.5M | $672.3M | $586.4M | $544.5M | $527.5M | $448.3M | $554.6M | $515.1M |
| Gross profit | $298.3M | $287.2M | $268.6M | $226.0M | $225.1M | $203.2M | $190.0M | $169.7M | $197.3M | $153.6M |
| Research & development | $40.0M | $40.3M | $38.4M | $38.6M | $35.2M | $27.0M | $18.0M | $15.6M | $17.8M | $13.9M |
| Sales, general & admin | $240.2M | $214.0M | $192.2M | $182.5M | $160.2M | $144.0M | $123.4M | $113.8M | $160.6M | $103.8M |
| Total operating expenses | $270.6M | $258.2M | $237.5M | $228.9M | $197.2M | $173.9M | $152.0M | $135.4M | $178.4M | $160.2M |
| Operating income | $27.7M | $29.0M | $31.1M | −$2.9M | $27.9M | $29.3M | $38.0M | $30.5M | −$5.8M | −$18.6M |
| Interest income | $15.5M | $12.2M | $1.2M | $600,000 | $300,000 | $800,000 | $1.9M | $800,000 | $500,000 | $0 |
| Interest expense | $10.5M | $15.2M | $21.7M | $18.3M | $23.7M | $23.6M | $23.5M | $21.6M | $29.1M | $34.7M |
| Income before taxes | $34.0M | $26.5M | $11.1M | −$33.0M | $4.4M | $6.8M | $15.7M | $8.7M | −$50.8M | −$52.3M |
| Income taxes | $12.0M | $10.2M | $8.7M | $200,000 | $3.9M | −$73.5M | $4.8M | $4.6M | −$8.2M | $8.1M |
| Net income | $22.0M | $16.3M | −$8.9M | −$36.9M | −$2.0M | $79.6M | $12.5M | −$3.5M | −$42.7M | −$60.5M |
| EBITDA | $103.8M | $93.6M | $77.5M | $26.2M | $62.8M | $64.4M | $74.3M | $48.1M | −$5.8M | $5.2M |
| EPS (diluted) | $0.51 | $0.49 | $0.39 | $0.28 | $0.32 | $0.39 | $0.34 | $0.24 | $0.12 | −$0.07 |
| Gross margin | 22.1% | 25.3% | 25.9% | 25.2% | 27.7% | 27.2% | 26.5% | 27.5% | 26.2% | 23.0% |
| Operating margin | 2.1% | 2.6% | 3.0% | −0.3% | 3.4% | 3.9% | 5.3% | 4.9% | −0.8% | −2.8% |
| Net margin | 1.6% | 1.4% | −0.9% | −4.1% | −0.2% | 10.6% | 1.7% | −0.6% | −5.7% | −9.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $458.8M | $371.0M | $345.1M | $347.6M | $351.5M | $302.6M | $283.1M | $275.9M | $300.1M | $277.2M | $273.8M | $274.6M |
| Cost of revenue | $358.7M | $287.2M | $271.3M | $270.5M | $277.7M | $229.0M | $213.3M | $206.7M | $222.9M | $206.2M | $201.9M | $201.2M |
| Gross profit | $100.1M | $83.8M | $73.8M | $77.1M | $73.8M | $73.6M | $69.8M | $69.2M | $77.2M | $71.0M | $71.9M | $73.4M |
| Research & development | $13.6M | $10.7M | $9.8M | $10.0M | $10.2M | $10.0M | $10.6M | $9.9M | $10.2M | $9.6M | $8.0M | $10.3M |
| Sales, general & admin | $87.3M | $72.3M | $63.5M | $59.8M | $59.9M | $57.0M | $52.5M | $52.6M | $54.5M | $54.4M | $51.8M | $47.5M |
| Total operating expenses | $101.7M | $76.1M | $63.5M | $70.0M | $70.1M | $67.0M | $66.8M | $62.7M | $64.7M | $64.0M | $60.2M | $61.2M |
| Operating income | −$1.6M | $7.7M | $10.3M | $7.1M | $3.7M | $6.6M | $3.0M | $6.5M | $12.5M | $7.0M | $11.7M | $12.2M |
| Interest expense | — | $4.5M | $3.4M | $4.6M | $1.5M | $900,000 | $12.5M | $800,000 | $300,000 | $2.8M | $5.8M | $5.1M |
| Income before taxes | $7.0M | $9.8M | $12.1M | $11.9M | $4.6M | $5.4M | $4.0M | $5.8M | $12.7M | $4.0M | $7.6M | $6.8M |
| Income taxes | $2.6M | −$2.1M | $6.2M | $3.2M | $1.7M | $900,000 | $100,000 | $2.6M | $4.8M | $2.7M | $2.0M | $3.8M |
| Net income | $4.4M | $11.9M | $5.9M | $8.7M | $2.9M | $4.5M | $3.9M | $3.2M | $7.9M | $1.3M | $2.4M | −$1.6M |
| EBITDA | $29.1M | $34.5M | $28.3M | $26.8M | $19.4M | $19.7M | $29.6M | $18.9M | $26.1M | $19.1M | $26.0M | $23.1M |
| EPS (diluted) | $0.15 | $0.16 | $0.18 | $0.14 | $0.07 | $0.12 | $0.13 | $0.11 | $0.14 | $0.11 | $0.12 | $0.12 |
| Gross margin | 21.8% | 22.6% | 21.4% | 22.2% | 21.0% | 24.3% | 24.7% | 25.1% | 25.7% | 25.6% | 26.3% | 26.7% |
| Operating margin | −0.3% | 2.1% | 3.0% | 2.0% | 1.1% | 2.2% | 1.1% | 2.4% | 4.2% | 2.5% | 4.3% | 4.4% |
| Net margin | 1.0% | 3.2% | 1.7% | 2.5% | 0.8% | 1.5% | 1.4% | 1.2% | 2.6% | 0.5% | 0.9% | −0.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KTOS's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KTOS financial results
In fiscal year 2025 (ended December 31, 2025), Kratos Defense & Security Solutions reported revenue of $1.3 billion, up 18.5% from the year before. It had net income of $22.0 million (up 35.0%), a net profit margin of 1.6%. Diluted earnings per share came to $0.51. Over five years revenue grew at an average rate of 12.5% a year.
See the KTOS stock overview for the latest quote and news, or the KTOS chart for price history and technical indicators.
KTOS income statement FAQ
What is Kratos Defense & Security Solutions's annual revenue?
Kratos Defense & Security Solutions reported total revenue of $1.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 18.5% from $1.1 billion the previous year.
Is Kratos Defense & Security Solutions profitable?
Yes. Kratos Defense & Security Solutions reported net income of $22.0 million in fiscal 2025, a net profit margin of 1.6%; its operating margin was 2.1%.
What is Kratos Defense & Security Solutions's gross margin?
Kratos Defense & Security Solutions's gross margin was 22.1% in fiscal 2025: for every $100 of revenue, Kratos Defense & Security Solutions kept $22 after the direct cost of its products and services.
How much does Kratos Defense & Security Solutions spend on research and development?
Kratos Defense & Security Solutions spent $40.0 million on research and development in fiscal 2025, 3.0% of revenue.
How fast is Kratos Defense & Security Solutions growing?
Revenue grew 12.5% a year on average over the last five fiscal years, from $747.7 million to $1.3 billion.
What are Kratos Defense & Security Solutions's earnings per share?
Kratos Defense & Security Solutions earned $0.51 per diluted share in fiscal 2025, compared with $0.49 a year earlier.
When will Kratos Defense & Security Solutions report its next earnings?
Kratos Defense & Security Solutions is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Kratos Defense & Security Solutions's fiscal year end?
Kratos Defense & Security Solutions's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.