{
  "docId": "019dd923-622c-750b-8b98-64474d65435b",
  "docSlug": "68bd393edc75",
  "documentTitle": "Kratos Defense & Security Solutions (KTOS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-03-16 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 13,
  "pageCount": 49,
  "prevPage": 12,
  "nextPage": 14,
  "slideType": "timeline",
  "function": "summarize",
  "density": "dense",
  "nDataPoints": 1,
  "notes": "The slide uses a chronological structure to frame the company's history as a series of pivots or 'hypes'.",
  "elementsJson": [
    "headline_text",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-64474d65435b/13",
  "deckHref": "/decks/019dd923-622c-750b-8b98-64474d65435b",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-64474d65435b.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-64474d65435b#slide-13",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Kratos Today: Unmanned Systems (aka. Drone) Hype",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0935-737e-8dc0-f807a9435c6b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.96,
        "x": 0.02,
        "y": 0.66
      },
      "kind": "list",
      "text": "Kratos Today: Unmanned Systems (aka. Drone) Hype",
      "attrs": null,
      "subkind": "timeline-item",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "36a507e8-f225-42dc-bfdd-60b5fbdef8ea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.96,
        "x": 0.02,
        "y": 0.41
      },
      "kind": "list",
      "text": "Kratos 2007 to 2015: $1 billion of Acquisitions To Become a C5ISR Play",
      "attrs": null,
      "subkind": "timeline-item",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5f014088-9a4e-4790-adb8-e91c2bd1b84e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.96,
        "x": 0.02,
        "y": 0.17
      },
      "kind": "list",
      "text": "Kratos Prior to 2007: Dotcom Hype As Wireless Facilities (WFI)",
      "attrs": null,
      "subkind": "timeline-item",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "81e9c925-ebf6-462d-84fb-f19644a503bd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.96,
        "x": 0.02,
        "y": 0.46
      },
      "kind": "paragraph",
      "text": "We are a specialized technology focused security business providing mission critical products... Our principal products and solutions are related to Command, Control, Communications, Computing, Combat Systems, Intelligence, Surveillance and Reconnaissance (\"C5ISR\").",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a236e8b3-5db0-438d-95d5-1d46c991f4a5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.96,
        "x": 0.02,
        "y": 0.71
      },
      "kind": "paragraph",
      "text": "Kratos is a government contractor at the forefront of the DoD's Third Offset Strategy... Kratos' primary focus areas are unmanned systems, satellite communications, microwave electronics, cyber security/warfare, training systems, missile defense and combat systems.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2a52630-939a-4aa5-b6c8-73b94000efdb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.96,
        "x": 0.02,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "Prior to 2007 we were an independent provider of outsourced engineering and network deployment services... On September 12, 2007, we changed our name from Wireless Facilities, Inc. (WFI) to Kratos Defense & Security Solutions, Inc. (Kratos).",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d436e900-4f49-4ded-adfb-9d705927ab71",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.65,
        "x": 0.31,
        "y": 0.03
      },
      "kind": "title",
      "text": "Kratos: A Business Model In Constant Transition",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1165b946-7650-4a77-8610-674b4d86cad8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "timeline",
      "slug": null,
      "matchId": "9b79a4a4-5337-472b-89f9-d98d8c4b435e",
      "evidence": "Chronological breakdown of company history",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 14,
      "from": 1,
      "beatId": "ddb12c76-8cfe-4d78-84ad-973eca2a7f03",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem",
      "beatSlug": "problem-agitate-solution-problem-identify-pain",
      "evidence": "The deck presents Kratos' financial struggles, accounting issues, and governance concerns.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}