Leonardo DRS, Inc.

Leonardo DRS, Inc. (NASDAQ: DRS) is a mid-sized defense technology company providing advanced sensing, network computing, force protection, and electric power and propulsion solutions to U.S. national security customers and allied defense forces worldwide. The company maintains its website at https://www.leonardodrs.com.

DRS operates through two primary technology-driven segments: Advanced Sensing and Computing (ASC) and Integrated Mission Systems (IMS). The ASC segment designs and manufactures sensing and network computing technologies enabling real-time situational awareness across complex operating environments, including electro-optical and infrared systems, signals intelligence, electronic warfare, tactical radars, and edge computing solutions. The IMS segment develops power conversion and distribution systems, ship propulsion systems, motors, variable frequency drives, force protection systems, and transportation logistics solutions. In 2025, the company generated total revenues of approximately $3.6 billion, with 80 percent derived from U.S. government contracts, primarily through the Department of Defense. The Navy and Army each represented 36 percent and 36 percent of total revenues respectively, while the Air Force and other agencies contributed 3 percent and 5 percent.

As of December 31, 2025, DRS employed approximately 7,300 people, with roughly seven percent represented by labor unions. The company maintains an over 55-year legacy in defense applications, with established positions on priority defense platforms including the Columbia Class submarine and next-generation naval systems. DRS benefits from a diverse portfolio with no single contract exceeding ten percent of revenues, providing operational stability across multiple programs in production phases.

The company operates as both prime contractor and subcontractor, with 39 percent of 2025 revenues derived as a prime contractor and 61 percent as a subcontractor system provider. Fixed-price contracts represented 87 percent of revenues, reflecting the significant portion of production contracts in the portfolio. DRS maintains a funded backlog of $4.6 billion as of December 31, 2025, supporting revenue visibility and program continuity.

Leonardo DRS is an indirect subsidiary of Leonardo S.p.A., a global aerospace, defense and security company listed on the Milan Stock Exchange, operating under an amended and restated proxy agreement with the Department of Defense to address foreign ownership considerations.