Welcome to our dedicated page for Castellum news (Ticker: CTM), a resource for investors and traders seeking the latest updates and insights on Castellum stock.
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.
BETHESDA, Md., April 26, 2023 – Castellum (NYSE-American: CTM) announced that EF Hutton has initiated research coverage with a “Buy” rating. CEO Mark Fuller expressed enthusiasm about this coverage, which follows their previous assistance during Castellum's uplisting in October.
Castellum aims to grow its business aggressively through both organic growth and acquisitions, with one non-binding letter of intent under consideration and discussions with multiple companies for potential transactions. The company is tracking and converting several growth opportunities into revenue this year. Forward-looking statements in the release highlight the inherent uncertainty in achieving these goals, emphasizing the need for caution regarding the non-binding acquisition prospects.
BETHESDA, Md., March 23, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) announces the successful acquisition of Global Technologies Management Resources, Inc. (GTMR), a government contractor with $10 million in revenue. This deal, structured as a 'tax-free' reorganization, makes Castellum's revenue run rate exceed $50 million. The transaction is immediately accretive to revenue per share, recurring cash operating profit per share, and net income per share. An audit of GTMR’s financials for 2022 is in progress and expected to complete within 60 days. Castellum aims to further accelerate growth and plans additional acquisitions in the near future.
Castellum, based in Bethesda, Md., announced that its 2023 Annual Meeting of Stockholders will take place on May 25, 2023. Eligible stockholders, recorded as of March 31, 2023, can vote at the meeting, which will be held both in-person and virtually. Notably, Castellum did not conduct a 2022 meeting, prompting a deadline of March 30, 2023, for any qualified stockholder proposals or nominations for the proxy statement. Castellum focuses on strategic acquisitions in defense-oriented technology, including cybersecurity and electronic warfare.
Castellum, Inc. (CTM) reported record unaudited revenue of $42.2 million for the year ended December 31, 2022, a significant increase of approximately 68% from $25.1 million in 2021. The company's cash on hand was $4.6 million at year-end. Despite a GAAP operating loss of $10.0 million, Castellum achieved a recurring cash operating profit of $2.5 million, aided by the exclusion of non-cash and non-recurring charges totaling $11.3 million. The management expressed optimism for 2023, anticipating further growth driven by planned acquisitions.
Castellum, Inc. (NYSE-American: CTM) announced a successful equity financing round, raising $500,000 at $1.06 per share. The company reduced its total debt by $50,000 and extended the maturity of $840,000 in debt to February 2024. The debt has a 10% coupon and is convertible into 700,000 shares at $1.20 each. This funding will support a key acquisition expected to close within 2-3 weeks. With no remaining debt maturities in 2023, Castellum continues to focus on its buy-and-build strategy in cybersecurity and defense sectors.
Castellum, Inc. (NYSE-American: CTM) has been awarded a $1.9 million contract for the NAVAIR Aircraft Launch & Recovery Equipment (ALRE) V2 Maintenance Management System (V2MMS) through its subsidiary Specialty Systems, Inc. (SSI). This contract extends the existing agreement, with $1.1 million to be recognized in calendar 2023. The integration of the V2MMS software aims to enhance capabilities for the US Navy's aircraft carriers. Castellum's ongoing collaboration with NAVAIR, which spans over two decades, reinforces its commitment to meeting mission-critical needs.
Castellum, Inc. (NYSE-American: CTM), a technology firm specializing in cybersecurity and IT services for federal agencies, announced a non-binding letter of intent to acquire a government contractor focused on similar sectors. This move follows Castellum's strategy to enhance its capabilities and customer base. The acquisition, pending due diligence, could increase Castellum's annual revenue run-rate to over $60 million from the current $44 million. The company aims to close the deal within 90 days, furthering its buy-and-build strategy to double revenue in 2023.
Castellum, Inc. (NYSE American: CTM) has appointed Alan "Al" Lynn to its Advisory Board. This strategic move aims to leverage Lynn's extensive experience in technology innovation, particularly from his tenure at Cisco Systems, where he led engineering initiatives in emerging technologies. CEO Mark Fuller highlighted that Lynn's expertise will be vital in refining Castellum's strategic plans related to cybersecurity and technology. Lynn's background as a retired US Army Lieutenant General adds significant operational experience, enhancing Castellum's focus in the defense-oriented technology sector.
Castellum (NYSE-American: CTM) recently shared an update from CEO Mark Fuller, highlighting the company's growth and strategic direction heading into 2023. Castellum achieved a run rate of $44.4 million and transitioned from operating losses to recurring cash profits. The firm aims to double its size in 2023 while minimizing debt and share issuance. Despite operational successes, the stock has faced a significant decline, falling from over $4 to below $1. The CEO emphasized efforts to enhance share value through market purchases and investor outreach.
Castellum (NYSE-American: CTM) has secured a significant award through its subsidiary, Specialty Systems, Inc. (SSI), under the Architecture and Integration Directorate Multiple Award IDIQ contract. With a ceiling of $900 million and a performance period extending to December 2032, SSI will compete for task orders focused on multi-domain systems capabilities and rapid prototyping. This award positions Castellum to expand its services in the Air Force, enhancing its customer base and operational portfolio in the defense sector.
FAQ
What is the current stock price of Castellum (CTM)?
What is the market cap of Castellum (CTM)?
What services does Castellum, Inc. provide?
Which markets does Castellum, Inc. operate in?
What are some recent achievements of Castellum, Inc.?
How does Castellum, Inc. enhance its capabilities?
Is Castellum, Inc. involved in any partnerships?
What is Castellum, Inc.'s approach to cybersecurity?
How does Castellum, Inc. support its clients in strategic and mission planning?
What is Castellum, Inc.'s financial condition?
Which sectors benefit from Castellum, Inc.'s services?
How does Castellum, Inc. contribute to data analytics?
