Kratos Receives Approximate $50M, Single Award, Sole Source High Performance Jet Drone System Related IDIQ Contract

Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Kratos Unmanned Aerial Systems division (KUAS) has recently received an approximate $50 million, single award, sole source, high performance jet drone system related Indefinite Delivery, Indefinite Quantity (IDIQ) contract from a United States Government Agency.  KUAS is the industry leader in the rapid design, manufacture and delivery of affordable, high performance jet drone systems. Work under this contract award will be performed as funded task orders are issued by the customer at secure Kratos facilities and customer locations.  Due to customer related, competitive, security, and other considerations, no additional information will be provided.

Steve Fendley, President of KUAS, said, “The Kratos team did an outstanding job working in partnership with this critical customer, addressing their needs and requirements and successfully negotiating this single award, sole source IDIQ contract.  We expect this contract to be fully funded over the contract’s multi-year period of performance.”