Kratos Defense & Security Solutions, Inc. income statement

In fiscal 2025, Kratos Defense & Security Solutions, Inc. reported revenue of $1.35bn, up 18.5% on the year before, operating income of $25.6m (a 1.9% margin) and net income of $22.0m, or $0.13 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Kratos Defense & Security Solutions, Inc.: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	335	409	714	969	844	763	657	669	752	618	718	748	812	898	1,037	1,136	1,347	1,523
Cost of revenue	271	324	523	712	640	584	495	515	555	448	528	545	586	672	769	849	1,039	1,172
Gross profit	64	84	191	257	205	179	162	121	158	170	190	203	225	226	269	287	308	350
Research and development	2	2	9	18	20	19	16	14	18	16	18	27	35	39	38	40	40	44
Selling, general and administrative	48	57	141	193	173	154	151	115	127	120	131	145	160	183	199	217	240	283
Operating income	−27	23	30	−50	18	5	−5	−18	−12	31	38	29	28	−3	31	29	26	18
Interest expense	—	22	51	66	46	39	36	35	29	22	24	24	24	18	22	15	10	—
Income before tax	−37	2	−22	−115	−28	−72	−45	−52	−57	9	16	7	4	−33	11	27	34	41
Income tax	1	−13	2	−2	1	4	−11	6	−10	5	5	−74	4	0	9	10	12	10
Net income	−42	15	−24	−114	−37	−78	20	−61	−43	−4	13	80	−2	−37	−9	16	22	31
Diluted EPS	−$2.99	$0.86	−$0.88	−$2.44	−$0.65	−$1.35	$0.34	−$0.99	−$0.48	−$0.03	$0.11	$0.67	−$0.02	−$0.29	−$0.07	$0.11	$0.13	$0.17
Diluted shares (average)	14m	17m	27m	47m	57m	58m	59m	61m	90m	106m	109m	119m	128m	127m	130m	151m	165m	179m
EBITDA	−19	36	78	8	65	38	21	5	10	48	61	54	54	28	64	69	73	82

US$ millions unless shown otherwise. Fiscal quarters.

Kratos Defense & Security Solutions, Inc.: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	276	283	303	352	348	345	371	459
Cost of revenue	207	213	229	278	271	262	281	359
Gross profit	69	70	74	74	77	83	90	100
Research and development	10	11	10	10	10	10	11	14
Selling, general and administrative	53	56	57	60	60	64	72	87
Operating income	7	3	7	4	7	8	5	−2
Income before tax	6	4	5	5	12	12	10	7
Income tax	3	0	1	2	3	6	−2	3
Net income	3	4	5	3	9	6	12	4
Diluted EPS	$0.02	$0.03	$0.03	$0.02	$0.05	$0.03	$0.07	$0.02
EBITDA	17	13	17	16	19	21	22	21

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Kratos Defense & Security Solutions, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Kratos Defense & Security Solutions, Inc.