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Kratos Defense reported $345.1 million in revenue for Q4 2025, marking a 20% organic growth rate and a backlog of $1.57 billion. The company plans to raise $1.17 billion through an equity offering to finance strategic initiatives, including the acquisition of Orbit Technologies for $356 million, expected to close by the end of March.

Kratos targets revenue of up to $1.675 billion for the 2026 fiscal year and is expanding its Maryland facility for hypersonic systems. Despite strong operational results, ARK Investment Management reduced its stake in Kratos by 20%, indicating investor caution.