Castellum, Inc. Announces Q4 Record Revenue

Rhea-AI Summary

Castellum, Inc. (OTC: ONOV) reported approximately $9.5 million in unaudited revenue for Q4 2021, marking an annualized revenue run rate of $38 million, a record high for the company. The revenue increase is attributed to a combination of accretive acquisitions and organic growth, including contributions from the small acquisition of SSI and Merrison Technology subsidiaries. The company anticipates releasing its fully audited financial results in March 2022.

Positive

• Generated approximately $9.5 million in Q4 2021 revenue.
• Annualized revenue run rate reached approximately $38 million, an all-time high.
• Revenue growth driven by strategic acquisitions and organic business expansion.

Negative

• None.

POTOMAC, Md., Jan. 27, 2022 (GLOBE NEWSWIRE) --  Castellum, Inc. (OTC: ONOV) announces that it generated approximately $9.5 million in unaudited revenue in the fourth quarter ended December 31, 2021. On an annualized basis, Castellum is now running at an approximately $38 million rate, an all-time high for the Company. The Company expects to release fully audited financial results for the year ending December 31, 2021, in March 2022.

“Our revenue continues to move higher through a combination of accretive acquisitions and organic growth,” said Mark Fuller, President, and CEO of Castellum. “Revenue grew in Q4 due to the small acquisition we completed, getting a full quarter of contribution from our SSI and Merrison Technology subsidiaries, and from adding some additional organic business to the Company. The future looks equally bright as we plan to close the acquisition we recently announced, make additional acquisitions, continue to execute on our organic growth strategy, and prepare the Company to be uplisted.”

About Castellum, Inc.

Castellum, Inc. (OTC: ONOV) is a technology service and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering, and Software Development. The Company recently announced its latest letter of intent to acquire an East Coast government contractor with over $4 million of revenue - 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 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning the Company's future events or future performance. 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. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Contact:
Mark Fuller, CEO
info@castellumus.com
(301) 961-4895

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e098617b-fbd5-4b73-a834-10a287ba10e0

FAQ

What was Castellum's revenue for Q4 2021?

Castellum reported approximately $9.5 million in revenue for Q4 2021.

What is Castellum's annualized revenue run rate as of January 2022?

As of January 2022, Castellum's annualized revenue run rate is approximately $38 million.

What factors contributed to Castellum's revenue growth in Q4 2021?

Revenue growth was attributed to accretive acquisitions and organic growth from business operations.

When will Castellum release its audited financial results?

Castellum plans to release its fully audited financial results for the year ending December 31, 2021, in March 2022.

Which subsidiaries contributed to Castellum's revenue growth?

The subsidiaries SSI and Merrison Technology contributed to Castellum's revenue growth during Q4 2021.