SAN DIEGO—David M. Carter, President of the DRSS Division at Kratos Defense & (NASDAQ:KTOS) Security Solutions, Inc. (NASDAQ:KTOS), recently sold 4,000 shares of common stock. The sale, which was executed under a pre-established 10b5-1 trading plan, occurred on January 2, 2025, at a weighted average price of $26.4881 per share. The shares were sold in multiple transactions, with prices ranging from $26.26 to $26.89, resulting in a total transaction value of $105,952.
Following this transaction, Carter holds 103,430 shares of Kratos Defense, which include shares acquired through the company's Employee Stock Purchase Plan and 401(k) Plan. This sale is part of Carter's (NYSE:CRI) ongoing financial strategy and was carried out with the assistance of an attorney-in-fact.
In other recent news, Kratos Defense & Security Solutions has secured a $6.5 million contract from the Defense Advanced Research Projects Agency (DARPA) for hypersonic flight testing. This is part of the firm's ongoing partnership with government agencies to advance defense technology. Concurrently, Kratos has reported strong third-quarter revenues in 2024, achieving $275.9 million, an 8.7% organic growth in unmanned systems, and surpassing estimates. Jefferies, an investment firm, maintained a Hold rating on Kratos, reflecting a positive outlook on the company's growth potential.
Kratos has confirmed its financial guidance for the year, projecting a 10% year-over-year revenue growth for 2025. The company is also expanding its manufacturing capabilities, with plans to open new facilities in Israel and India in 2025. Despite facing challenges in hiring skilled personnel and disruptions in the commercial satellite sector, Kratos remains confident in its growth potential, particularly in the international target drone market and driverless vehicle solutions. The company is also pursuing large contracts, including a potential $1.5 billion award and another space opportunity valued over $100 million. These recent developments demonstrate Kratos' progress in the defense sector.
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