Castellum, Inc. Announces $11.6 Million Higher Sequential Revenue and Gross Profits for Q3 2024
Castellum (NYSE-American: CTM) reported sequential revenue growth in Q3 2024, reaching $11.6 million, up from $11.5 million in Q2 and $11.3 million in Q1. Gross profit increased to $5.0 million, compared to $4.7 million in Q2 and $4.5 million in Q1. The company's CEO highlighted that while current growth is modest due to existing contract performance, their strategy focuses on securing new contracts in 2025 to drive significant improvements in quarterly and long-term performance. Full financial results will be filed by November 14, 2024.
Castellum (NYSE-American: CTM) ha riportato una crescita sequenziale dei ricavi nel terzo trimestre del 2024, raggiungendo 11,6 milioni di dollari, in aumento rispetto a 11,5 milioni nel secondo trimestre e 11,3 milioni nel primo trimestre. Il profitto lordo è aumentato a 5,0 milioni di dollari, rispetto a 4,7 milioni nel Q2 e 4,5 milioni nel Q1. L'amministratore delegato dell'azienda ha sottolineato che, mentre la crescita attuale è modesta a causa delle prestazioni dei contratti esistenti, la loro strategia si concentra sull'acquisizione di nuovi contratti nel 2025 per promuovere miglioramenti significativi nelle performance trimestrali e a lungo termine. I risultati finanziari completi saranno presentati entro il 14 novembre 2024.
Castellum (NYSE-American: CTM) reportó un crecimiento secuencial en ingresos en el tercer trimestre de 2024, alcanzando 11,6 millones de dólares, un aumento con respecto a 11,5 millones en el segundo trimestre y 11,3 millones en el primero. El beneficio bruto aumentó a 5,0 millones de dólares, en comparación con 4,7 millones en el Q2 y 4,5 millones en el Q1. El director ejecutivo de la compañía destacó que, aunque el crecimiento actual es modesto debido al rendimiento de los contratos existentes, su estrategia se centra en asegurar nuevos contratos en 2025 para impulsar mejoras significativas en el rendimiento trimestral y a largo plazo. Los resultados financieros completos se presentarán antes del 14 de noviembre de 2024.
카스텔룸 (NYSE-American: CTM)는 2024년 3분기에 순차적인 수익 성장을 보고하였으며, 1160만 달러에 도달했습니다. 이는 2분기 1150만 달러와 1분기 1130만 달러에서 증가한 수치입니다. 총 이익은 500만 달러로 증가했으며, 2분기 470만 달러 및 1분기 450만 달러와 비교됩니다. 회사의 CEO는 현재의 성장이 기존 계약의 성과로 인해 미미하지만, 2025년에 새로운 계약을 확보하는 데 집중하는 전략이 향후 분기 및 장기적인 성과 향상에 크게 기여할 것이라고 강조했습니다. 전체 재무 결과는 2024년 11월 14일까지 제출될 예정입니다.
Castellum (NYSE-American: CTM) a signalé une croissance séquentielle des revenus au troisième trimestre 2024, atteignant 11,6 millions de dollars, contre 11,5 millions au deuxième trimestre et 11,3 millions au premier trimestre. Le bénéfice brut a augmenté à 5,0 millions de dollars, comparé à 4,7 millions au Q2 et 4,5 millions au Q1. Le PDG de l'entreprise a souligné que bien que la croissance actuelle soit modeste en raison des performances des contrats existants, leur stratégie se concentre sur la sécurisation de nouveaux contrats en 2025 pour générer des améliorations significatives des performances trimestrielles et à long terme. Les résultats financiers complets seront déposés d'ici le 14 novembre 2024.
Castellum (NYSE-American: CTM) berichtete im dritten Quartal 2024 von einem sequenziellen Umsatzwachstum, das 11,6 Millionen Dollar erreichte, im Vergleich zu 11,5 Millionen im zweiten Quartal und 11,3 Millionen im ersten Quartal. Der Bruttogewinn stieg auf 5,0 Millionen Dollar, verglichen mit 4,7 Millionen im Q2 und 4,5 Millionen im Q1. Der CEO des Unternehmens hob hervor, dass das aktuelle Wachstum zwar bescheiden ist, bedingt durch die Leistungen bestehender Verträge, ihre Strategie jedoch darauf abzielt, im Jahr 2025 neue Verträge zu sichern, um signifikante Verbesserungen in der quartalsweisen und langfristigen Leistung voranzutreiben. Die vollständigen finanziellen Ergebnisse werden bis zum 14. November 2024 eingereicht.
- Sequential revenue growth to $11.6M in Q3 2024
- Gross profit increase to $5.0M in Q3 2024
- Consistent quarter-over-quarter growth in both revenue and gross profit
- Growth rate described as 'modest' by management
- Heavy reliance on existing contracts for current growth
- new contract wins impacting significant growth potential
Insights
The sequential quarterly revenue growth and gross profit improvements, while positive, are relatively modest. Q3 revenue of
The CEO's candid acknowledgment that current growth is primarily from existing contract execution rather than new business wins is concerning. With a market cap of
VIENNA, Va., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. ("Castellum" or the "Company") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces certain highlights of its operating results for its third quarter ended September 30, 2024.
Revenue for the third quarter of 2024 was
"I’m encouraged by the momentum we are generating in 2024," said Glen Ives, President and Chief Executive Officer of the Company. "We have produced greater revenue and gross profit, quarter by quarter, but our growth is modest because it is based upon outstanding performance and execution on our current contracts. To strengthen our company and share value more significantly, our growth must come from new contract wins. Since I became CEO four months ago, our focus and priority have been to posture our company for realistic opportunities and new contract wins in 2025. Our exceptional CTM professionals bring world-class skills, talent, and experience to our customers and our vital national security mission. Together with our strong mission and technical capabilities, extensive and relevant past performance, and outstanding ability to execute on our current contracts, we have a solid foundation for growth. Moving forward, I believe our focused commitment and strategic investments to strengthen our new business growth capabilities and secure new contracts will drive significant and positive improvements in our quarterly and long-term performance.”
Castellum's full financial results for the three and nine months ended September 30, 2024, are expected to be filed on or before November 14, 2024, on Form 10-Q, available at www.sec.gov.
About Castellum, Inc. (NYSE-American: CTM):
Castellum, Inc. is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government - http://castellumus.com.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 2lE of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the Company's expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as "estimate," "project," "believe," "anticipate," "shooting to," "intend," "in a position," "looking to," "pursue," "positioned," "will," "likely," "would," or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations for revenue growth, new customer opportunities, improvements to cost structure, and profitability. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company's control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others: the Company's ability to compete against new and existing competitors; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company's revenue due to a delay in the U.S. Congress approving a federal budget; and the Company's ability to maintain the listing of its common stock on the NYSE American LLC. For a more detailed description of these and other risk factors, please refer to the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC") which can be viewed at www.sec.gov. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or the future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in this release or in any of its SEC filings except as may be otherwise stated by the Company.
Contact:
Glen Ives, President and Chief Executive Officer
Phone: (703) 752-6157
info@castellumus.com
http://castellumus.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff38729b-b1ec-428e-8b71-8162296c56e4
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