KTOS - Kratos bags $17.8M contract from USAF Research Laboratory

Kratos Defense & Security Solutions (KTOS) has received a ~$17.8M award from the U.S. Air Force Research Laboratory (AFRL) for work in support of the government’s Low Cost Attritable Aircraft Technology (LCAAT) efforts, including as related to the XQ-58A Valkyrie. Eric Demarco, President and CEO of Kratos, said, “Over the past several years Kratos has taken a commercial, venture-backed approach by investing in and producing high performance, technology leading systems, including affordable, unmanned aerial tactical drones prior to requirement or formal program of record. Today, Kratos has four affordable, reusable, expendable, or attritable drones flying which we can discuss, including Valkyrie, Mako, Gremlins (under Prime Contractor Dynetics), and Air Wolf, each of which is made in America and, we believe, provides Kratos an industry leading position in a large, new opportunity area.”Shares down 3% premarket.

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Kratos bags $17.8M contract from USAF Research Laboratory