Castellum Reports Q3 2026 Revenue Growth Driven by Navy Contract Expansion
Castellum, Inc. (CTM) reported third-quarter revenue of $14.7 million, supported by the ramp-up of significant Navy contracts including PMA-290 and NAWCAD Lakehurst. While nine-month revenue rose 6% year-over-year to $42.9 million, adjusted EBITDA fell to $600,000 from $1.1 million in the prior year due to strategic investments in business development and acquisition activities. The company's qualified pipeline saw substantial growth, increasing to $1.66 billion from $953.5 million at the end of June 2026. Despite a slight compression in gross margins to 36.1% caused by a higher mix of subcontractor work, Castellum maintains a strong liquidity position with $24.5 million in combined cash and accounts receivable and zero outstanding debt. Management expects record revenue for the full year 2026.
Tickers: $CTM
Topics: Backlog Cash Flow Contract Awards EBITDA Revenue