Castellum, Inc. Reports Breakthrough Q3 2025 Results with First-Ever Positive Net Income
Castellum (NYSE-American: CTM) reported Q3 2025 results with its first-ever quarterly GAAP net income, record revenue, higher cash, and reduced debt. Revenue was $14.6M in Q3 2025, up from $14.0M in Q2 2025 and $11.6M in Q3 2024, marking a third consecutive quarter of year-over-year organic revenue growth. Operating profit was $0.4M versus an operating loss of $(0.4)M in Q2 2025. Adjusted EBITDA excluding non-cash/one-time items was $1.1M. Cash ended at $17.8M and total debt fell to $2.4M. Full Form 10-Q expected to be filed later today.
Castellum (NYSE-American: CTM) ha riportato i risultati del terzo trimestre 2025 con il primo utile netto GAAP trimestrale di sempre, ricavi record, maggiore liquidità e una riduzione del debito. I ricavi sono stati $14.6M nel terzo trimestre 2025, in aumento rispetto a $14.0M nel secondo trimestre 2025 e $11.6M nel terzo trimestre 2024, segnando tre trimestri consecutivi di crescita organica annua dei ricavi. L'utile operativo è stato $0.4M contro una perdita operativa di $(0.4)M nel secondo trimestre 2025. L'EBITDA rettificato escludendo elementi non monetari/one-time è stato $1.1M. La liquidità è arrivata a $17.8M e il debito totale è sceso a $2.4M. Si prevede di depositare il modulo completo Form 10-Q entro la fine della giornata.
Castellum (NYSE-American: CTM) presentó los resultados del tercer trimestre de 2025 con su primer ingreso neto GAAP trimestral de la historia, ingresos récord, mayor caja y deuda reducida. Los ingresos fueron $14.6M en el 3T 2025, frente a $14.0M en el 2T 2025 y $11.6M en el 3T 2024, marcando un tercer trimestre consecutivo de crecimiento orgánico interanual de ingresos. El beneficio operativo fue $0.4M frente a una pérdida operativa de $(0.4)M en el 2T 2025. El EBITDA ajustado excluyendo elementos no monetarios/uno-time fue $1.1M. La caja terminó en $17.8M y la deuda total cayó a $2.4M. Se espera presentar el Formulario 10-Q completo más tarde hoy.
캐스텔럼(CASTELLUM) (NYSE-American: CTM)은 사상 최초의 분기 GAAP 순이익, 기록적인 매출, 현금 증가 및 부채 감소를 동반한 2025년 3분기 실적을 발표했습니다. 매출은 3분기 2025년 $14.6M으로, 2분기 2025년 $14.0M, 전년동기 2024년 3분기 $11.6M 대비 증가했으며, 연간 유사 매출 성장의 3연속 분기를 기록했습니다. 영업이익은 2분기 2025년의 $(0.4)M의 영업손실에 반해 $0.4M의 영업이익을 기록했습니다. 비현금/일회성 항목 제외한 조정 EBITDA는 $1.1M입니다. 현금은 $17.8M로 마감했고 총부채는 $2.4M으로 감소했습니다. 전체 Form 10-Q는 오늘 중에 제출될 예정입니다.
Castellum (NYSE-American: CTM) a publié les résultats du T3 2025 avec son premier bénéfice net trimestriel GAAP, des revenus record, une trésorerie accrue et une dette réduite. Le chiffre d'affaires s'est élevé à $14.6M au T3 2025, en hausse par rapport à $14.0M au T2 2025 et $11.6M au T3 2024, marquant ainsi trois trimestres consécutifs de croissance organique des revenus d'une année sur l'autre. Le résultat opérationnel était de $0.4M contre une perte opérationnelle de $(0.4)M au T2 2025. L'EBITDA ajusté, hors éléments non monétaires/ponctuels, était de $1.1M. La trésorerie s'est établie à $17.8M et la dette totale est tombée à $2.4M. Le formulaire Form 10-Q complet devrait être déposé plus tard dans la journée.
Castellum (NYSE-American: CTM) meldete die Ergebnisse für das 3. Quartal 2025 mit dem erstmaligen quartalsweisen GAAP-Nettoeinkommen, Rekordumsätzen, höherem Bargeldbestand und gesenkter Verschuldung. Der Umsatz betrug im 3. Quartal 2025 $14.6M, verglichen mit $14.0M im 2. Quartal 2025 und $11.6M im 3. Quartal 2024, was drei aufeinanderfolgende Quartale organischen Umsatzwachstums im Jahresvergleich markiert. Das operative Ergebnis betrug $0.4M gegenüber einem operativen Verlust von $(0.4)M im 2. Quartal 2025. Anpasstes EBITDA, bereinigt um nicht zahlungswirksame/einmalige Posten, betrug $1.1M. Die Barmittel endeten bei $17.8M und die Gesamtverschuldung fiel auf $2.4M. Der vollständige Form 10-Q soll heute noch eingereicht werden.
كاستيليوم (بورصة نيويورك-أمريكان: CTM) أبلغت عن نتائج الربع الثالث من 2025 مع أول صافي دخل ربعي GAAP في تاريخ الشركة، وإيرادات قياسية، وزيادة النقد، وانخفاض الدين. بلغ الإيراد $14.6M في الربع الثالث 2025، مقارنة بـ $14.0M في الربع الثاني 2025 و $11.6M في الربع الثالث 2024، وهو ما يمثل الربع الثالث على التوالي من النمو العضوي للإيرادات على أساس سنوي. بلغ الربح التشغيلي $0.4M مقابل خسارة تشغيلية قدرها $(0.4)M في الربع الثاني 2025. EBITDA المعدل باستبعاد البنود غير النقدية/المرة الواحدة كان $1.1M. اختتمت السيولة عند $17.8M وبلغ الدين الإجمالي $2.4M. من المتوقع تقديم النموذج Form 10-Q الكامل في وقت لاحق من اليوم.
- Revenue reached $14.6M in Q3 2025
- Operating profit of $0.4M in Q3 2025
- Adjusted EBITDA of $1.1M excluding non-cash items
- Record cash balance of $17.8M
- Total debt reduced to $2.4M
- Non-cash and one-time charges remained included in results
Insights
Castellum reports first-ever GAAP net income with rising revenue, record cash, and sharply reduced debt.
Revenue reached
The balance sheet shows a record cash balance of
Watch for the filed Form 10-Q later today for the exact reconciliation of non-cash and one-time items and the cash-flow statement; those will clarify sustainability of earnings and free cash flow over the next few quarters (
Results show operational momentum and stronger financial flexibility that support disciplined reinvestment and M&A optionality.
Sequential and year-over-year revenue growth alongside an operating profit signal improving core contract execution and margin expansion. Management stresses organic prime wins, product/IP investment, and selective M&A as the growth levers driving the company strategy.
Key dependencies include the durability of organic contract wins and the magnitude of the disclosed non-cash and one-time charges; these affect how much of the improvement reflects recurring operations versus accounting items. Monitor contract awards, backlog disclosures, and the cash-flow from operations in the Form 10-Q over the next
VIENNA, Va., Nov. 07, 2025 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) ("Castellum" or the "Company"), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces its financial results for the third quarter ended September 30, 2025, featuring its first ever quarterly GAAP net income, improved operating performance, record cash, and as previously reported, further debt reduction.
Revenue for Q3 2025 totaled
Operating profit for the quarter shows
Castellum ended the quarter with a record cash balance of
“Our continued discipline in operating performance and cash management has resulted in our best performance and balance sheet strength to date, all of which prepares Castellum for additional investment in our growth,” said David Bell, Chief Financial Officer.
“Record revenue and solid operating margin improvement, coupled with our focus and discipline, have resulted in outstanding performance,” said Glen Ives, Chief Executive Officer of Castellum. “While I am more than pleased that we achieved this net income milestone, as I have previously noted, we are committed to the long-term growth of CTM through smart investments in the right people, solutions and products. We therefore continue to manage the business for positive cash flow rather than GAAP net income due to the large amount of non-cash charges we take. This quarter, we happened to get both. I cannot over-emphasize our unrelenting commitment to grow and scale CTM through our proven strategy of driving organic growth through full and open prime contract wins, investing capital to develop our own products, solutions, and IP, and leveraging the right and timely M&A opportunities. As I wholeheartedly believe and have stated before, our strong and steady progress and success are a direct reflection of the hard work of our world-class CTM team and their ’best in industry’ skills, talent, knowledge, and experience, directly supporting our mission customers to achieve their vital national security missions and objectives. We’re continuing to build meaningful momentum, which we believe will continue to create enduring long-term value for our shareholders.”
Castellum's full financial results for the three and nine months ending September 30, 2025, are expected to be filed later today on Form 10-Q, which will be available at www.sec.gov.
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 2lE of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the Company's expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as "estimate," "project," "believe," "anticipate," "shooting to," "intend," "in a position," "looking to," "pursue," "positioned," "will," "likely," "would," or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations for revenue growth, new customer opportunities, improvements to cost structure, and profitability. 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: the Company's ability to compete against new and existing competitors; its 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. For a more detailed description of these and other risk factors, please refer to the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC") which can be viewed at www.sec.gov. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or the 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. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in this release or in any of its SEC filings except as may be otherwise stated by the Company.
Non-GAAP Financial Measures and Key Performance Metrics
This press release contains Non-GAAP Adjusted EBITDA, a Non-GAAP financial measure used by management to measure the Company's operating performance. A reconciliation of this measure to the most directly comparable GAAP financial measure is contained herein. To the extent required, statements disclosing this measure's definition, utility, and purpose are also set forth herein.
Definition:
Adjusted EBITDA is a Non-GAAP measure, calculated as the Company's earnings before (not including expenses related to) interest, taxes, depreciation, and amortization, also adjusted for other non-cash items such as stock-based compensation and other non-recurring, cash items, such as expenses for a one-time policy change.
Utility and Purpose:
The Company discloses Non-GAAP Adjusted EBITDA because this Non-GAAP measure is used by management to evaluate our business, measure its operating performance, and make strategic decisions. We believe Non-GAAP Adjusted EBITDA is useful for investors and others in understanding and evaluating our operating results in the same manner as its management. However, Non-GAAP Adjusted EBITDA is not a financial measure calculated in accordance with GAAP and should not be considered as a substitute for GAAP operating loss or any other operating performance measure calculated in accordance with GAAP. Using this Non-GAAP measure to analyze our business would have material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in our industry may report a Non-GAAP Adjusted EBITDA measure, this measure may be calculated differently from how we calculate this Non-GAAP financial measure, reducing its overall usefulness as a comparative measure. Because of these inherent limitations, you should consider Non-GAAP Adjusted EBITDA alongside other financial performance measures, including net loss and our other financial results presented in accordance with GAAP.
| Castellum, Inc. Reconciliation of unaudited Non-GAAP Recurring Cash Operating Profit to Operating Loss Three Months Ended September 30, 2025 | |||
| Revenues | $ | 14,619,687 | |
| Gross profit | 5,490,568 | ||
| Net Income | 388,580 | ||
| Add back: | |||
| Interest (income) | (58,838 | ) | |
| Taxes | 106,717 | ||
| Depreciation and amortization | 374,290 | ||
| Adjust for other non-cash and one-time charges: | |||
| Change in derivative liability | (18,000 | ) | |
| Stock based compensation | 284,116 | ||
| Total non-cash charges | 688,285 | ||
| Non-GAAP Adjusted EBITDA | $ | 1,076,865 | |
Contact:
Glen Ives
President and Chief Executive Officer
Phone: (703) 752-6157
info@castellumus.com
https://castellumus.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96c984a7-1804-4e77-ae60-a468386fc795
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