Kratos Defense & Security Solutions reported $2.65B of remaining performance obligations at 27 Sep 2026, up 79% from a year earlier and up 27% from the previous quarter. That is 1.6 years of trailing revenue already under contract. Book-to-bill last quarter: 2.20.
Net new backlog added in the latest quarter: $566M.
Over the last twelve months it turned about 92% of its opening backlog into revenue (12-month conversion).
The company reports 16% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 3.6% of the backlog.
Twelve-month book-to-bill: 1.71, i.e. 1.71 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +51 points — orders are running ahead of revenue.
By backlog size it ranks 161st among US filers the cockpit tracks.
Kratos Defense & Security Solutions backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
27 Sep 2026
$2.65B
$1.65B
1.6 yrs
$94.7M
28 Jun 2026
$2.08B
$1.52B
1.4 yrs
$93.6M
29 Mar 2026
$2.01B
$1.42B
1.4 yrs
$108M
28 Dec 2025
$1.57B
$1.35B
1.2 yrs
$73.4M
28 Sep 2025
$1.48B
$1.28B
1.2 yrs
$64.2M
29 Jun 2025
$1.41B
$1.21B
1.2 yrs
$77.3M
30 Mar 2025
$1.51B
$1.16B
1.3 yrs
$82.0M
29 Dec 2024
$1.45B
$1.14B
1.3 yrs
$76.3M
29 Sep 2024
$1.29B
$1.13B
1.1 yrs
$61.9M
30 Jun 2024
$1.30B
$1.13B
1.2 yrs
$80.9M
31 Mar 2024
$1.27B
$1.08B
1.2 yrs
$97.5M
31 Dec 2023
$1.24B
$1.04B
1.2 yrs
$102M
Questions
What is Kratos Defense & Security Solutions's backlog?
Kratos Defense & Security Solutions reported $2.65B of remaining performance obligations at 27 Sep 2026, up 79% from a year earlier and up 27% from the previous quarter. That is 1.6 years of trailing revenue already under contract. Book-to-bill last quarter: 2.20.
How fast does Kratos Defense & Security Solutions's backlog turn into revenue?
Over the last twelve months Kratos Defense & Security Solutions recognised revenue equal to about 92% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.