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 (CTM) provides mission-critical IT solutions and cybersecurity services to defense, healthcare, and financial sectors. This news hub offers investors and industry professionals centralized access to verified corporate developments and strategic announcements.
Track key business updates including quarterly earnings disclosures, cybersecurity innovation milestones, and acquisition activity. Our curated collection ensures timely access to press releases about software engineering advancements, federal contract awards, and data analytics initiatives shaping CTM's market position.
Discover official statements covering:
• Strategic cybersecurity partnerships
• Federal sector program updates
• Technology acquisition details
• Financial performance reports
Bookmark this page for efficient monitoring of Castellum's evolving capabilities in electronic warfare solutions, intelligence analysis tools, and enterprise IT infrastructure developments. All content is sourced directly from company communications to ensure regulatory compliance and factual accuracy.
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.
Castellum, Inc. (NYSE-American: CTM) announced significant insider stock purchases by CEO Mark Fuller and CFO David Bell, reflecting confidence in the company's future. The firm reported record revenues and gross margins over 40% during Q3 2022, alongside a letter of intent to acquire an East Coast company generating $10 million in revenue. The purchases were made with personal funds, underscoring the executives' belief in Castellum's strategic direction. Detailed information on these transactions can be found in SEC Form 4 filings.
Castellum, Inc. (CTM) reported record revenues of $11.12 million for the third quarter ended September 30, 2022, with a gross profit of $4.65 million. Despite a GAAP operating loss of $2.05 million, the company achieved a Non-GAAP Recurring Cash Operating Profit of approximately $645,000. Strong gross margins exceeding 40% were noted. Management expressed confidence in future growth, highlighting a letter of intent for a $10 million revenue acquisition. The full financial results are available on the SEC website.
Castellum, Inc. (NYSE AMERICAN: CTM) has signed a Letter of Intent to acquire a government contractor on the East Coast with approximately $10 million in revenue. The deal is pending due diligence and a definitive purchase agreement, aiming for closure by the end of January 2023. If successful, this acquisition would elevate Castellum's revenue run-rate to over $54 million and enhance its service capabilities to government clients. The company is also optimistic about future acquisitions in 2023, buoyed by record revenue reported for Q3 2022.
