← KRATOS DEFENSE & SECURITY SOLUTIONS, INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — ($33.2m) $2.4m $16.3m $22.0m
Net Income (Loss) Attributable to Parent ($60.5m) ($42.7m) ($3.5m) $12.5m $79.6m ($2.0m) ($36.9m) ($8.9m) $16.3m $22.0m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest — — — $12.6m $79.4m ($1.6m) ($33.2m) $2.4m $16.3m $22.0m
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($60.4m) ($42.6m) $4.1m $10.9m $80.3m $500k ($34.1m) $2.2m — —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($100k) ($100k) ($7.6m) $1.7m ($900k) ($2.1m) $900k $200k — —
Net Income (Loss) Attributable to Noncontrolling Interest — — — $100k ($200k) $400k $3.7m $11.3m $0 $0
Depreciation, Depletion and Amortization $22.8m $22.5m $17.9m $23.4m $24.6m $25.7m $30.5m $33.2m $40.3m $47.1m
Amortization of Deferred Charges $1.5m $1.3m $1.0m $1.0m $1.0m $1.0m $800k $700k $700k $500k
Amortization of Intangible Assets $10.5m $10.4m $5.9m $7.4m $6.8m $4.7m $7.4m $6.8m $8.6m $9.6m
Amortization Cash Flow — — — — — $4.7m $7.4m $6.8m — —
Amortization Of Intangibles — — — — — $4.7m $7.4m $6.8m — —
Depreciation Amortization Depletion — — — — — — $40.9m $44.7m $51.9m $59.3m
Deferred Income Tax Expense (Benefit) $4.7m ($10.2m) ($400k) ($4.9m) ($78.2m) ($400k) ($3.1m) $2.5m $4.4m $8.1m
Deferred Income Tax — — — — — — ($3.1m) $2.5m $4.4m $8.1m
Deferred Tax — — — — — — ($3.1m) $2.5m $4.4m $8.1m
Share-based Payment Arrangement, Noncash Expense $5.1m $7.8m $7.2m $11.0m $21.0m $25.8m $26.3m $25.3m $29.8m $35.5m
Payment, Tax Withholding, Share-based Payment Arrangement — — — — — $9.1m $12.5m $3.7m $17.4m $20.0m
Goodwill and Intangible Asset Impairment — $24.2m $0 $0 — — — — — —
Goodwill, Impairment Loss $0 — — — — — — — — —
Restructuring Costs and Asset Impairment Charges — — — — — — — — $3.2m —
Gain (Loss) on Extinguishment of Debt $200k ($17.3m) $0 $0 $0 $0 ($13.0m) $0 $0 ($500k)
Income Tax Expense (Benefit) $8.1m ($8.2m) $4.6m $4.8m ($73.5m) $3.9m $1.4m $8.9m $10.2m $12.0m
Other Nonoperating Income (Expense) $800k $900k ($1.0m) ($700k) $300k ($100k) $600k $500k $500k $2.5m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable $24.7m $39.1m ($8.2m) $11.6m $3.7m ($2.6m) $4.9m $13.1m ($11.2m) $44.6m
Increase (Decrease) in Inventories $2.7m ($7.1m) ($2.0m) $4.6m $5.3m $5.3m $23.8m $29.6m $5.0m $19.3m
Increase (Decrease) in Accounts Payable $2.9m ($3.4m) $12.2m $4.8m ($2.4m) ($5.3m) $4.5m $4.4m $15.1m ($13.7m)
Increase (Decrease) in Other Operating Assets ($3.2m) $2.6m ($1.2m) $900k $8.7m $6.9m $18.7m $12.3m $35.6m $27.1m
Proceeds from Stock Options Exercised — — — — — $0 $6.2m $6.5m $8.2m $9.9m
Foreign Currency Transaction Gain (Loss), before Tax $400k $400k ($1.1m) ($1.1m) $0 ($800k) ($100k) ($1.7m) ($500k) ($1.1m)
Goodwill $485.4m $461.2m $425.7m $455.6m $483.9m $493.9m $558.2m $569.1m $568.9m $595.7m
Nonoperating Income (Expense) ($33.7m) ($45.0m) ($21.8m) ($22.3m) ($22.5m) ($23.5m) ($30.1m) ($20.0m) ($2.5m) $8.4m
Proceeds from Contributions from Affiliates $0 $0 — — — — — — — —
Beginning Cash Position — — — — — — $349.4m $81.3m $72.8m $329.3m
Cash Flow From Continuing Financing Activities — — — — — — ($63.3m) ($30.7m) $277.6m $360.7m
Cash Flow From Continuing Investing Activities — — — — — — ($177.4m) ($43.8m) ($69.7m) ($88.3m)
Cash From Discontinued Investing Activities — — — — — ($4.5m) ($100k) $0 — —
Change In Account Payable — — — — — — $4.5m $4.4m $15.1m ($13.7m)
Change In Accrued Expense — — — — — — $6.4m $13.8m $8.7m $32.8m
Change In Interest Payable — — — — — ($100k) $100k $200k — —
Change In Inventory — — — — — — ($23.8m) ($29.6m) ($5.0m) ($19.3m)
Change In Other Current Assets — — — — — — ($18.7m) ($12.3m) ($35.6m) ($27.1m)
Change In Other Current Liabilities — — — — — — ($17.9m) ($13.0m) ($13.9m) ($15.2m)
Change In Other Working Capital — — — — — — $2.8m $27.9m ($26.0m) ($4.6m)
Change In Payable — — — — — — $4.5m $4.4m $15.1m ($13.7m)
Change In Payables And Accrued Expense — — — — — — $10.9m $18.2m $23.8m $19.1m
Change In Prepaid Assets — — — — — — ($1.9m) ($3.9m) ($1.8m) $5.1m
Change In Receivables — — — — — — ($27.3m) $1.3m $5.1m ($126.0m)
Change In Working Capital — — — — — — ($75.9m) ($11.4m) ($53.4m) ($168.0m)
Changes In Account Receivables — — — — — — ($4.9m) ($13.1m) $11.2m ($44.6m)
Changes In Cash — — — — — — ($266.4m) ($9.3m) $257.6m $230.3m
End Cash Position — — — — — — $81.3m $72.8m $329.3m $560.6m
Financing Cash Flow — — — — — — ($63.3m) ($30.7m) $277.6m $360.7m
Free Cash Flow — — — — — — ($71.1m) $12.8m ($8.5m) ($137.4m)
Investing Cash Flow — — — — — — ($177.4m) ($43.8m) ($69.7m) ($88.3m)
Issuance Of Capital Stock — — — — — — $0 $0 $330.7m $555.9m
Net Business Purchase And Sale — — — — — — ($132.2m) $300k ($11.5m) ($5.0m)
Operating Gains Losses — — — — — — $13.0m — — $500k
Other Non Cash Items — — — — — — $6.3m $700k $700k $500k
Proceeds From Stock Option Exercised — — — — — — $6.2m $6.5m $8.2m $9.9m
Provisionand Write Offof Assets — — — — — — $0 $1.0m $0 $0
Purchase Of Business — — — — — — ($132.2m) $0 ($11.5m) ($5.0m)
Stock Based Compensation — — — — — — $26.3m $25.3m $29.8m $35.5m
Net Cash Provided by (Used in) Operating Activities ($7.6m) ($5.5m) ($6.1m) ($2k) $21k ($798k) ($25.7m) $65.2m $49.7m ($42.1m)
Cash flows from investing activities:
Capital Expenditure — — — — — — ($45.4m) ($52.4m) ($58.2m) ($95.3m)
Capital Expenditure Reported — — — — — — ($45.4m) ($52.4m) ($58.2m) ($95.3m)
Payments to Acquire Businesses, Net of Cash Acquired $5.1m $0 $2.9m $17.7m $51.5m $12.3m $132.2m ($300k) $11.5m $0
Net Other Investing Changes — — — — — $6.7m $200k $8.3m — $12.0m
Net Cash Provided by (Used in) Investing Activities $527k $3.1m $40.5m ($43.7m) ($87.3m) ($52.1m) ($177.4m) ($43.8m) ($69.7m) ($88.3m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $0 $300.0m $0 $0 $5.1m $0 $200.0m $0 $0 $0
Issuance Of Debt — — — — — — $300.0m $69.0m $10.0m $0
Long Term Debt Issuance — — — — — — $300.0m $69.0m $10.0m $0
Net Issuance Payments Of Debt — — — — — — ($53.7m) ($33.5m) ($43.9m) ($186.8m)
Net Long Term Debt Issuance — — — — — — ($53.7m) ($33.5m) ($43.9m) ($186.8m)
Repayments of Long-term Debt $14.1m $448.8m $0 $0 — — — — — —
Long Term Debt Payments — — — — — — ($353.7m) ($102.5m) ($53.9m) ($186.8m)
Repayment Of Debt — — — — — — ($353.7m) ($102.5m) ($53.9m) ($186.8m)
Proceeds from Issuance of Common Stock $76.2m $269.1m ($1.1m) $0 $240.4m $0 $0 $0 $330.7m $555.9m
Common Stock Issuance — — — — — — $0 $0 $330.7m $555.9m
Net Common Stock Issuance — — — — — — $0 $0 $330.7m $555.9m
Proceeds from (Payments for) Other Financing Activities — ($800k) $0 $0 — — — — — $1.7m
Net Other Financing Charges — — — — — — ($15.8m) ($3.7m) ($17.4m) ($18.3m)
Net Cash Provided by (Used in) Financing Activities $465k $113.4m $1.7m $3.5m $247.7m ($9.3m) ($63.3m) ($30.7m) $277.6m $360.7m
Effect Of Exchange Rate Changes — — — — — — ($1.7m) $800k ($1.1m) $1.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($300k) $500k $52.1m ($10.4m) $208.9m ($32.1m) ($268.1m) ($8.5m) $256.5m $231.3m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $183.0m $172.6m $381.5m $349.4m $81.3m $72.8m $329.3m $560.6m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($268.1m) ($8.5m) $256.5m $231.3m
Interest Paid, Excluding Capitalized Interest, Operating Activities $32.4m $28.3m $20.5m $19.9m $19.9m $19.9m $13.7m $19.6m $14.6m $6.3m
Income Taxes Paid, Net $0 ($900k) $1.5m $600k $2.5m $2.0m $4.4m $6.5m $5.0m $6.5m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.