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Castellum, Inc. (Symbol: CTM) is a prominent provider of cutting-edge information technology services, catering to various sectors such as financial services, healthcare, and users of extensive data applications. The company excels in offering a broad spectrum of services, including intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity policy support, data analytics, and Model-Based Systems Engineering (MBSE).
Castellum continuously innovates and enhances its capabilities organically while strategically acquiring technology firms. These acquisitions focus on fields like cybersecurity, information technology, electronic warfare, information warfare, and information operations. As a result, Castellum has secured a significant presence across defense, federal, civilian, and commercial markets.
In recent developments, Castellum has reinforced its market position through several key acquisitions and technological advancements. The company's growth strategy emphasizes both organic growth and strategic acquisitions, thereby expanding its suite of services and market reach.
The company remains committed to providing top-tier services and solutions, ensuring robust data security and operational efficiency for its clients. With a strong financial standing and a dedicated team of experts, Castellum is well-positioned to continue its trajectory of growth and innovation in the tech industry.
Castellum, a cybersecurity, electronic warfare, and software services company, announced leadership changes effective July 1, 2024. Mark Fuller, co-founder and CEO, will step down to pursue other interests. Glen Ives, currently the COO, will succeed him as CEO. Under Fuller's leadership, Castellum grew into a $45 million company with strong cybersecurity and software capabilities. The Board thanks Fuller for his contributions and looks forward to Ives enhancing organic revenue growth, profitability, and strategic acquisitions. Both Fuller and Ives expressed confidence and optimism in the company's future trajectory.
Castellum, a cybersecurity and software services company, reported its Q1 2024 financial results. Revenue rose to $11.3 million from $11.1 million in Q4 2023. However, gross profit slightly declined to $4.5 million from $4.6 million. Operating loss increased to $2.7 million from $1.5 million in the previous quarter. The company's non-GAAP Recurring Cash Operating Profit (RCOP) was negative $0.1 million, improving from negative $0.4 million in Q4 2023. CEO Mark Fuller highlighted significant progress in reducing short-term debt through two financing transactions and focused on business development and profitability improvements for the rest of 2024 and into 2025.
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