Finance
Kratos Defense, After the CCA Loss: Funded Backlog, Dilution, and the Affordable Mass Thesis
Kratos grew revenue 18.5% to $1.35B in FY2025 yet posted a 1.9% operating margin and negative free cash flow. A skeptical look at the growth thesis.
Finance
Kratos grew revenue 18.5% to $1.35B in FY2025 yet posted a 1.9% operating margin and negative free cash flow. A skeptical look at the growth thesis.
Neurotech
China's CMC-driven BCI integration with UAS, detailing 100-drone swarms, technical breakthroughs, and geopolitical risks in the Indo-Pacific.