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  "documentTitle": "Kratos Defense & Security Solutions (KTOS)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2018-03-16 00:00:00",
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      "text": "Our research suggests that Kratos is a tiny player in the field of unmanned systems, with approximately 1% share of industry revenues and contract awards as a percentage of the DoD budget for drone procurement, research, development and construction.",
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      "text": "Market Share: 1%",
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      "text": "Our research suggests that Kratos is a tiny player in the field of unmanned systems, with approximately 1% share of industry revenues and contract awards as a percentage of the DoD budget for drone procurement, research, development and construction. Investors are paying an all-time high premium valuation to bet on Kratos, a perennial loser, that has been challenged to execute on many of its growth opportunities in nearly 20 years",
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      "kind": "quote",
      "text": "Drones in the FY18 Defense Budget — Bard University",
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      "kind": "source-note",
      "text": "Sources: Budget data from Bard University's report \"Drones in the FY18 Defense Budget\" CEI drone awards and Micro Systems information from USASpending.gov",
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      "text": "Source: Spruce Point and Wall St. Research",
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      "text": "Unmanned Systems Competitors table showing revenues and market share for General Atomics, Northrop Grumman, Textron, Boeing, AeroVironment, Kratos, and Others.",
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      "text": "Estimated Kratos Drone Awards As A % of DoD Budget table showing annual data from 2013-2017.",
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      "text": "Kratos: A Fringe Player In Unmanned Systems",
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