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Kratos Defense & Security Solutions vs Voyager Technologies: revenue, profit, margins and growth compared

Kratos Defense & Security Solutions brought in $1.3B of revenue in fiscal 2025, Voyager Technologies $166.4M in fiscal 2025. Revenue changed by +18.5% at Kratos Defense & Security Solutions and +15.4% at Voyager Technologies on the year before, so Kratos Defense & Security Solutions grew faster. Kratos Defense & Security Solutions kept 1.6% of its revenue as net profit, Voyager Technologies -63.0%. Free cash flow was -$137.4M at Kratos Defense & Security Solutions and -$205.6M at Voyager Technologies.

Side by side, latest fiscal year

KTOSVOYG
Fiscal year endedFY2025 (December 28, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$166.4M
Revenue growth+18.5%+15.4%
Net income$22M-$104.8M
Net margin1.6%-63.0%
Free cash flow-$137.4M-$205.6M
Free cash flow margin-10.2%-123.6%
Earnings per share (diluted)$0.13-$2.89
Cash$560.6M$491.3M
Debt$0n/a
Price to earnings350.9n/a
Market value$8.6B$1.9B
Dividend yieldn/an/a
Rank by revenue in sector#254 of 451 · Industrials#364 of 451 · Industrials

Over the years

Revenue
KTOS FY2018: $618MKTOS FY2019: $717.5MKTOS FY2020: $747.7MKTOS FY2021: $811.5MKTOS FY2022: $898.3MKTOS FY2023: $1BKTOS FY2024: $1.1BKTOS FY2025: $1.3BVOYG FY2023: $136.1MVOYG FY2025: $144.2MVOYG FY2025: $166.4MFY18FY19FY20FY21FY22FY23FY24FY25
KTOS $1.3BVOYG $166.4M
Net income
KTOS FY2018: -$3.5MKTOS FY2019: $12.5MKTOS FY2020: $79.6MKTOS FY2021: -$2MKTOS FY2022: -$36.9MKTOS FY2023: -$8.9MKTOS FY2024: $16.3MKTOS FY2025: $22MVOYG FY2023: -$25.4MVOYG FY2025: -$62.1MVOYG FY2025: -$104.8MFY18FY19FY20FY21FY22FY23FY24FY25
KTOS $22MVOYG -$104.8M
Net margin
KTOS FY2018: -0.6%KTOS FY2019: 1.7%KTOS FY2020: 10.6%KTOS FY2021: -0.2%KTOS FY2022: -4.1%KTOS FY2023: -0.9%KTOS FY2024: 1.4%KTOS FY2025: 1.6%VOYG FY2023: -18.7%VOYG FY2025: -43.1%VOYG FY2025: -63.0%FY18FY19FY20FY21FY22FY23FY24FY25
KTOS 1.6%VOYG -63.0%
Revenue growth
KTOS FY2019: +16.1%KTOS FY2020: +4.2%KTOS FY2021: +8.5%KTOS FY2022: +10.7%KTOS FY2023: +15.5%KTOS FY2024: +9.6%KTOS FY2025: +18.5%VOYG FY2025: +6.0%VOYG FY2025: +15.4%FY19FY20FY21FY22FY23FY24FY25
KTOS +18.5%VOYG +15.4%
Free cash flow
KTOS FY2020: $8.8MKTOS FY2021: -$11.2MKTOS FY2022: -$71.1MKTOS FY2023: $12.8MKTOS FY2024: -$8.5MKTOS FY2025: -$137.4MVOYG FY2023: -$32.6MVOYG FY2025: -$108.2MVOYG FY2025: -$205.6MFY20FY21FY22FY23FY24FY25
KTOS -$137.4MVOYG -$205.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Kratos Defense & Security Solutions and Voyager Technologies

Which is bigger by revenue, Kratos Defense & Security Solutions or Voyager Technologies?

Kratos Defense & Security Solutions is bigger by revenue: $1.3B in fiscal 2025, against $166.4M for Voyager Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Kratos Defense & Security Solutions or Voyager Technologies?

Kratos Defense & Security Solutions had a net margin of 1.6% in fiscal 2025; Voyager Technologies had -63.0% in fiscal 2025.

Which grew revenue faster, Kratos Defense & Security Solutions or Voyager Technologies?

In their latest fiscal years revenue changed by +18.5% at Kratos Defense & Security Solutions and +15.4% at Voyager Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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