Castellum, Inc. Publishes Letter to Shareholders
Castellum (NYSE-American: CTM), a cybersecurity and defense technology company, released a shareholder letter from CEO Glen Ives marking his first year of leadership. The company has successfully transitioned from Phase 1 "start-up" period to Phase 2, focusing on organic growth. Key achievements include: raising over $16 million through public offerings, reducing long-term debt to under $5 million, and winning their largest prime contract worth $103.3 million for Naval Air Systems Command support.
The company has established new strategic partnerships through mentor-protégé relationships, launched an advanced technology products subsidiary, and maintained strong contractor performance ratings. Castellum's core capabilities span software development, electronic warfare, cybersecurity, and strategic mission planning, positioning itself to become a premier defense company.
Castellum (NYSE-American: CTM), azienda specializzata in cybersecurity e tecnologie per la difesa, ha pubblicato una lettera agli azionisti firmata dal CEO Glen Ives per celebrare il suo primo anno di guida. L'azienda ha completato con successo la transizione dalla Fase 1, caratterizzata da uno stato di "start-up", alla Fase 2, concentrandosi sulla crescita organica. Tra i risultati principali figurano: la raccolta di oltre 16 milioni di dollari tramite offerte pubbliche, la riduzione del debito a lungo termine a meno di 5 milioni di dollari e l'aggiudicazione del loro più grande contratto primario del valore di 103,3 milioni di dollari per il supporto al Naval Air Systems Command.
L'azienda ha inoltre instaurato nuove partnership strategiche attraverso rapporti mentor-protégé, lanciato una controllata dedicata a prodotti tecnologici avanzati e mantenuto ottime valutazioni nelle performance contrattuali. Le competenze centrali di Castellum includono sviluppo software, guerra elettronica, cybersecurity e pianificazione strategica delle missioni, posizionandola come un'azienda di primo piano nel settore della difesa.
Castellum (NYSE-American: CTM), una empresa de ciberseguridad y tecnología de defensa, publicó una carta a los accionistas del CEO Glen Ives con motivo de su primer año al mando. La compañía ha completado con éxito la transición de la Fase 1, considerada una etapa de "start-up", a la Fase 2, enfocándose en el crecimiento orgánico. Logros clave incluyen: recaudar más de 16 millones de dólares a través de ofertas públicas, reducir la deuda a largo plazo a menos de 5 millones de dólares y obtener su mayor contrato principal valorado en 103,3 millones de dólares para el apoyo al Naval Air Systems Command.
La empresa ha establecido nuevas alianzas estratégicas mediante relaciones de mentor-protégé, lanzado una subsidiaria de productos tecnológicos avanzados y mantenido sólidas calificaciones en desempeño contractual. Las capacidades principales de Castellum abarcan desarrollo de software, guerra electrónica, ciberseguridad y planificación estratégica de misiones, posicionándose como una compañía líder en defensa.
Castellum (NYSE-American: CTM)은 사이버보안 및 방위 기술 회사로서 CEO Glen Ives가 취임한 지 1년을 맞아 주주들에게 보낸 서한을 발표했습니다. 회사는 1단계 '스타트업' 시기를 성공적으로 마치고 2단계인 유기적 성장에 집중하는 단계로 전환했습니다. 주요 성과로는 공개 모집을 통해 1,600만 달러 이상 자금 조달, 장기 부채를 500만 달러 이하로 감축, 그리고 해군 항공 시스템 사령부 지원을 위한 1억 3,300만 달러 규모의 최대 주요 계약 수주가 있습니다.
회사는 멘토-프로티제 관계를 통한 새로운 전략적 파트너십을 구축하고, 첨단 기술 제품 자회사를 출범했으며, 우수한 계약자 성과 평가를 유지하고 있습니다. Castellum의 핵심 역량은 소프트웨어 개발, 전자전, 사이버보안, 전략적 임무 계획에 걸쳐 있으며, 프리미어 방위 기업으로 자리매김하고 있습니다.
Castellum (NYSE-American : CTM), une entreprise spécialisée en cybersécurité et technologies de défense, a publié une lettre aux actionnaires du PDG Glen Ives à l'occasion de sa première année de direction. L'entreprise a réussi à passer de la Phase 1, période de « start-up », à la Phase 2, axée sur la croissance organique. Parmi les réalisations clés figurent : la levée de plus de 16 millions de dollars via des offres publiques, la réduction de la dette à long terme à moins de 5 millions de dollars, et l'obtention de leur plus grand contrat principal d'une valeur de 103,3 millions de dollars pour le soutien du Naval Air Systems Command.
L'entreprise a établi de nouveaux partenariats stratégiques par le biais de relations mentor-protégé, lancé une filiale dédiée aux produits technologiques avancés, et maintenu d'excellentes notes de performance contractuelle. Les compétences clés de Castellum couvrent le développement logiciel, la guerre électronique, la cybersécurité et la planification stratégique des missions, ce qui lui permet de se positionner comme une entreprise de défense de premier plan.
Castellum (NYSE-American: CTM), ein Unternehmen für Cybersicherheit und Verteidigungstechnologie, veröffentlichte einen Aktionärsbrief des CEO Glen Ives zum ersten Jahr seiner Führung. Das Unternehmen hat erfolgreich die Phase 1 der "Start-up"-Phase abgeschlossen und ist in Phase 2 übergegangen, die sich auf organisches Wachstum konzentriert. Zu den wichtigsten Erfolgen zählen: die Beschaffung von über 16 Millionen US-Dollar durch öffentliche Angebote, die Reduzierung der langfristigen Schulden auf unter 5 Millionen US-Dollar und der Gewinn ihres größten Hauptvertrags im Wert von 103,3 Millionen US-Dollar zur Unterstützung des Naval Air Systems Command.
Das Unternehmen hat neue strategische Partnerschaften durch Mentor-Protégé-Beziehungen aufgebaut, eine Tochtergesellschaft für fortschrittliche Technologieprodukte gegründet und starke Bewertungen in der Auftragnehmer-Performance beibehalten. Die Kernkompetenzen von Castellum umfassen Softwareentwicklung, elektronische Kriegsführung, Cybersicherheit und strategische Einsatzplanung, wodurch es sich als führendes Verteidigungsunternehmen positioniert.
- None.
- Still in transition phase from small to large business status
- Heavily dependent on future contract wins for growth
- Multiple equity raises may have diluted shareholder value
Insights
Castellum shows promising progress with debt reduction, $16M raised, $103M contract win, and strategic pivot to organic growth.
This annual update from CEO Glen Ives marks a significant strategic shift for Castellum. After completing their initial four-year Phase 1 "start-up" period focused on acquisitions and NYSE American uplisting, they've pivoted to Phase 2 with a 100% commitment to organic growth. This transition represents a maturation of their business model.
The company has achieved several noteworthy milestones: raising
Strategically, Castellum has established two mentor-protégé relationships with woman-owned and native Hawaiian organizations, formed a new subsidiary for advanced technology products, and intensified their proposal development efforts. Their consistent "best in industry" contractor performance assessments demonstrate strong execution capability with government customers.
The company now positions itself at the intersection of several high-value domains including software development, electronic warfare, cybersecurity, AI/ML, and C5ISR. With their stronger financial foundation, Castellum appears better positioned to execute both their organic growth strategy and pursue strategic acquisitions. The CEO clearly articulates they've reached the position they envisioned when uplisting in October 2022, with the capital now raised to support both growth pathways.
VIENNA, Va., July 14, 2025 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) (the “Company” and “Castellum”), a cybersecurity, electronic warfare, and software services and solutions company focused on the federal government, releases this letter to shareholders from Chief Executive Officer (“CEO”), Glen Ives.
Dear Fellow Shareholders:
With this month marking the one-year anniversary of my time as your CEO, I thought it an opportune time to thank you sincerely for your support and confidence in Castellum, Inc., re-emphasize how incredibly honored I continue to be to have this opportunity to lead our CTM team, provide a very brief update on our significant progress over this past year, and explain why I continue to be encouraged, confident, and genuinely excited for all of us at CTM as we look ahead.
Since I assumed my role as your CEO on July 1st of last year, CTM has quickly and strategically transitioned from our four-year Phase 1 “start-up” period, during which we were focused on acquiring and integrating seven companies and uplisting to the NYSE American LLC (“NYSE American”). Last July, we made a strategic pivot to Phase 2, focusing on strengthening our foundational platform through organic growth. As I have affirmed constantly, time and again since last summer, our Phase 2 strategy is based upon a total,
Over the past year, our CTM Team has been improving and energizing every aspect of our Company to compete in the “full and open” arena, as defined by the government, as a “large” business. We are completely integrated across CTM in every business function and have been laser focused on strengthening business development (“BD”) and organic growth through a broadening, deepening, and quality improvement of our opportunity pipeline and significantly enhancing our prospective capabilities in the key BD areas of opportunity development, capture management, and proposal development.
Here’s a brief recap of what we have accomplished since July 1, 2024:
- Leadership team restructured and strengthened with greater industry and technology experience:
- Raised over
$16 million through public offerings and warrant exercises; - Reduced our long-term debt to less than
$5 million today; - Strong and healthy balance sheet – Improved cash/equity to debt ratio;
- Won largest prime contract in CTM history with
$103.3 million , a 5.5-year contract for Special Missions support of the Naval Air Systems Command Program Office PMA 290 Special Missions; - Established two mentor-protégé relationships and related joint ventures with woman-owned and native Hawaiian organizations;
- Established a new subsidiary to focus on advanced technology products;
- Consistent “best in industry” contractor performance assessment reports (“CPARS”), which is our “report card” from our government customers; and
- Significant improvement and increases in the volume and quality of our proposals ... for baseball fans, we want to get more at-bats, take more swings at the right pitches, get on base more with a good balance of singles, doubles, triples, and home runs.
Today, we are an intensely competitive, leading-edge technology services and solutions team committed to national security and our warfighters. We provide relevant, timely, and world-class mission services and solutions to our defense and federal civilian customers through our government-awarded contracts. We bring unparalleled capabilities in software and systems engineering and integration, software development, and model-based systems engineering across every technology domain and mission area vital to our government mission customers. Going forward, our new advanced technology products subsidiary will complement our historic strong suit of tech-enabled services with the tech itself.
Relevant, powerful, high-demand, high-value technology domains and mission capabilities:
- Software development, software and systems engineering, systems integration, model-based systems engineering;
- Electronic and information warfare;
- Cybersecurity, AI/ML, data analytics, digital modernization, C5ISR;
- Data and intelligence analysis; and
- Strategic mission, policy planning, and development.
At the very core, we have built and are building a premier, cohesive team - I couldn’t be prouder of the whole team we have built, top to bottom, left to right. We have brought together seven different companies, professionals from outside those organizations, and built an integrated and focused team that has been responsible for the many positive things that have happened, are happening, and will continue to happen.
- With the equity raises, we will be able to lean into investments we are already making - business development and IT for organic growth, and it will allow us to pursue growth by acquisitions;
- Contract wins will build success – credibility, service, and revenue;
- Strong CPARS speaking to the high quality of our work;
- Increase in proposals – improves our opportunities for winning; and
- With our mentor-protégé joint ventures, we grow our business and help establish two worthy companies.
We are now where we wanted to be when we first uplisted to the NYSE American in October 2022. We have now raised the capital we intended to support our organic and inorganic growth strategies. Since the time of uplisting, we have honed our skills and integrated our teams to be a better, stronger company. We are committed to winning and growing contracts, as well as making strategic acquisitions, to achieve our goal of becoming a large, premier defense company.
Achieving these goals will lead to enhanced shareholder value for you, our shareholders, a stronger national defense, and more opportunities for our Castellum professionals. Over the past year, you have seen part of what we can do. In the coming years, we plan to achieve much, much more.
Sincerely,
/s/ Glen Ives, CEO
About Castellum, Inc. (NYSE-American: CTM):
Castellum, Inc. (NYSE-American: CTM) is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government - https://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 future events or future performance of the company. 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. Words such as “will,” “would,” “believe,” and “expects,” and similar language or phrasing are indicative of forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others: statements regarding the Company's expectations for proposal, contract, and revenue growth, building value, serving our shareholders, and profitability; the Company’s ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company's revenue due to a delay in the U.S. Congress approving a federal budget, operating under a prolonged continuing resolution, government shutdown, or breach of the debt ceiling, as well as the imposition by the U.S. government of sequestration in the absence of an approved budget; the ability of the U.S. federal government to unilaterally cancel a contract with or without cause, and more specifically, the potential impact of the U.S. DOGE Service Temporary Organization on government spending and terminating contracts for convenience. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in Item 1A. “Risk Factors” section of the Company’s recently filed Form 10-Q, Item 1A. "Risk Factors” in the Company’s most recent Form 10-K, and other filings with the Securities and Exchange Commission which can be viewed at www.sec.gov. These risks and uncertainties, or not closing the described potential equity financing in this press release, could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.
Contact:
Glen Ives
President and Chief Executive Officer
Phone: (703) 752-6157
info@castellumus.com
https://castellumus.com
FAQ
What major achievements has Castellum (CTM) reported in its July 2025 shareholder letter?
How much debt has Castellum (CTM) reduced its long-term debt to in 2025?
What is the value of Castellum's (CTM) largest prime contract win?
What are Castellum's (CTM) main business capabilities in 2025?
What strategic changes has Castellum (CTM) implemented under CEO Glen Ives?
