克瑞拓斯安全防卫 2025年季度报告

pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit such files).YesýNoo reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act.Large accelerated filerýAccelerated filer Non-accelerated filer☐Smaller reporting company FOR THE QUARTERLY PERIOD ENDED MARCH30, 2025 Financial Statements Condensed Consolidated Statements of Operations for the ThreeMonths EndedMarch30, 2025andMarch31,2024(unaudited) 2024(unaudited) Notes to Condensed Consolidated Financial Statements (unaudited)Management’s Discussion and Analysis of Financial Condition and Results of Operations Mine Safety DisclosuresOther InformationExhibits2 Capital expendituresNet cash used in investing activities Financing activities:Proceeds from the issuance of common stock, net of issuance costs— Repayment under credit facility and term loanPayments under finance leases Proceeds from shares issued under equity plans4.6Net cash provided by (used in) financing activities(14.5)Net cash provided (used)(66.3)Effect of exchange rate changes on cash and cash equivalents0.7Net increase (decrease) in cash and cash equivalents(65.6)Cash and cash equivalents at beginning of period329.3Cash and cash equivalents at end of period$263.7$Non-cash investing and financing activities: (Unaudited) All references to the “Company” and “Kratos” refer to Kratos Defense& Security Solutions,Inc., a Delaware corporation, and itssubsidiaries. (a)Basis of Presentation The information as of March30, 2025 and for the three months ended March30, 2025 and March31, 2024 is unaudited. Thecondensed consolidated balance sheet as of December29, 2024 was derived from the Company’s audited consolidated financial statements at that date. In the opinion of management, these unaudited condensed consolidated financial statements include alladjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position, resultsof operations and cash flows for the interim periods presented. The results have been prepared in accordance with the instructions toForm10-Q and do not necessarily include all information and footnotes necessary for presentation in accordance with accountingprinciples generally accepted in the U.S. (“GAAP”). These unaudited condensed consolidated financial statements should be read in necessarily indicative of operating results expected in subsequent periods or for the year as a whole. Certain prior year items have been reclassified to be consistent with current year presentation. The condensed consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries. Allinter-company transactions have been eliminated in consolidation. On June 21, 2024, the Company purchased the remaining9.95%interest in KTT CORE, Inc., a Delaware corporation formerly known as KTT CORE, LLC (“KTT Core”) which previously had beenreported as a majority owned subsidiary. KTT Core is now a 100% owned subsidiary.See Note 11 for further information related to (c)Fiscal Year The Company has a 52/53 week fiscal year ending on the last Sunday of the calendar year. The three month periods endedMarch30, 2025 and March31, 2024 consisted of 13-week periods. There are 52 calendar weeks in the fiscal years ending onDecember28, 2025 and December29, 2024.(d)Use of EstimatesThere have been no significant changes in the Company’s accounting estimates for the three months ended March30, 2025 as specifically forecasted materials and salaries paid in foreign currencies. The Company also has entered into an interest rate swapcontract in order to mitigate the exposure to interest rate movements associated with the Company’s Term Loan A. These derivativeinstruments are measured at fair value using observable market inputs such as interest rates. Based on these inputs, the derivativeinstruments are classified within Level 2 of the valuation hierarchy. At March30, 2025, the derivative instruments were included inother current assets and other long-term liabilities on the Company's condensed consolidated balance sheets. recurring basis at March30, 2025 are presented in Note 15. accounts payable, accrued expenses, billings in excess of cost and earnings on uncompleted contracts, income taxes payable and longand short-term debt, approximated their estimated fair values at March30, 2025 and December29, 2024 due to the short-term natureof these instruments.Recent Accounting PronouncementsIn November 2023, the FASB issued ASU 2023-07,Segment Reporting (Topic 280): Improvements to Reportable SegmentDisclosures, which expands reportable segment disclosure requirements by requiring disclosures of significant reportable segment disclosures, with no impacts to its financial condition and results of operations. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement