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. (NYSE-American: CTM) is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government. The CTM news feed on Stock Titan brings together company press releases and related coverage so readers can follow how Castellum’s contracts, technology initiatives, and corporate actions evolve over time.
Recent news emphasizes Castellum’s role in supporting U.S. national security and defense missions. Announcements highlight prime contract awards to its Specialty Systems, Inc. subsidiary for Software Support Activities and cyber engineering at the Naval Air Warfare Center Aircraft Division Lakehurst, as well as logistics, engineering, and cyber support services for naval aviation systems. Other releases describe participation in the Missile Defense Agency SHIELD Multiple Award IDIQ contracts, where Castellum and its joint ventures support multi-domain defense efforts that involve cyber, electronic and information warfare, and advanced engineering approaches.
Investors and observers can also see updates on Castellum’s financial performance, capital structure, and strategic initiatives. The company has reported quarterly financial results, debt reduction milestones, and proceeds from warrant exercises, alongside commentary on its approach to organic growth, product development, and mergers and acquisitions. Additional items include the addition of IT professional services capabilities on a GSA Multiple Award Schedule contract, attendance at investor conferences, and the launch of a product-focused subsidiary and reseller agreement for AI-based cybersecurity products.
By following CTM news, readers gain insight into Castellum’s contract pipeline, national security–related work, and technology focus areas. This page aggregates those developments in one place so users can review new announcements and revisit prior disclosures when researching the CTM stock and its federal government–oriented business.
Castellum (NYSE-American: CTM) has secured its largest contract to date through its GTMR subsidiary - a $103.3 million, five-and-a-half-year contract for Special Missions Management of On-Site Services supporting NAVAIR Program Office 290.
The contract, starting next month, encompasses multiple Intelligence, Surveillance, Reconnaissance, and Targeting (ISR&T) programs, including Maritime Patrol and Reconnaissance Force Family of Systems, P-8A Research and Development, and MQ-4C Triton Multiple Intelligence.
GTMR will provide comprehensive acquisition lifecycle support, including material solution analysis, technology development, engineering, manufacturing, production deployment, and operations support. The scope includes engineering analysis and recommendations for technical, logistics, training, and acquisition life-cycle support for ISR&T platforms and infrastructure.
Castellum (NYSE-American: CTM), a cybersecurity and electronic warfare services provider, has released its unaudited financial results for 2024. The company reported revenue of $44.8 million, slightly down from $45.2 million in 2023. Operating loss improved to ($7.2 million) from ($16.7 million) in 2023, which included $6.9 million in goodwill impairment charges.
Key financial metrics include:
- Adjusted EBITDA: $0.8 million (vs $0.2 million in 2023)
- Operating cash flow: $1.1 million (vs -$2.3 million in 2023)
- Year-end cash position: $12.3 million (vs $1.8 million in 2023)
- Total debt: $10.7 million (vs $12.4 million in 2023)
CEO Glen Ives, who assumed the role in July 2024, expects 2025 to be a year of growth, citing new contract wins and improved execution on existing contracts.
Castellum, Inc. (NYSE-American: CTM) announced that its Global Technology and Management Resources, Inc. (GTMR) subsidiary has been selected as a Special Compartmented Information Multiple Award Contract (SCI MAC) vendor, supporting the Intelligence Division of Naval Air Warfare Center – Aircraft Division (NAWCAD).
The single pool unrestricted Indefinite Delivery Indefinite Quantity (IDIQ) contract became effective February 21, 2025, with a shared ceiling of $249 Million among selected awardees. Castellum/GTMR will provide analytical, technical, and managerial services across the U.S. Department of Defense in areas including acquisition, analysis, research and engineering, test and evaluation, logistics, training, program management, IT, and Software Development Support.
This contract enables Castellum to support Naval Air Systems Command (NAVAIR) throughout the Acquisition Life Cycle of various platforms and systems, as well as intelligence and threat support to numerous research, development, test, and evaluation activities requiring access to intelligence information at various classification levels.
Castellum (NYSE-American: CTM) announces that its Specialty Systems subsidiary has been awarded a $3.2 million, 18-month contract from the Naval Air Warfare Center Aircraft Division - Lakehurst. The contract focuses on enhancing Cyber-Supply Chain Risk Management (C-SCRM) capabilities for Aircraft Launch and Recovery Equipment (ALRE) mission systems.
The project will deliver an automated enterprise ALRE Cyber Signature Assessment (ACSA) framework, utilizing Artificial Intelligence and Machine Learning (AI/ML) to establish a comprehensive C-SCRM digital thread spanning the entire product lifecycle of ALRE mission systems. The solution will integrate Software Composition Analysis (SCA) with component inspection technology to detect tampering across hardware, firmware, and software levels.
Castellum (NYSE-American: CTM) announces successful onboarding of its two SBA mentor-protégé companies, Epic Systems and Krilla Kaleiwahea (K2), to the SeaPort Next Generation contract through rolling admissions II. SeaPort-NxG is the Navy Virtual SYSCOM Commanders' integrated approach to contracting for professional support services, including technical and engineering services for various naval departments.
The strategic alliances involve Castellum's subsidiary Specialty Systems with Epic Systems, and Global Technology and Management Resources with K2 (pending SBA approval). This development enables Castellum to compete for 8(a), women-owned small business, and Native Hawaiian Organization set-aside opportunities on SeaPort-NxG, strengthening its position for near-term growth alongside its recent OASIS+ contract win.
Castellum (NYSE-American: CTM), a cybersecurity and federal government services company, has announced the pricing of its public offering of 4,355,000 shares of common stock at $0.85 per share. The offering is expected to generate gross proceeds of approximately $3.7 million before deducting fees and expenses. The company plans to use the net proceeds for working capital and general corporate purposes.
Maxim Group is serving as the sole placement agent for the offering, which is expected to close around December 30, 2024. The offering is being conducted under a shelf registration statement that became effective on December 12, 2023.
Castellum (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, has announced plans for a public offering of common stock. The company will offer all shares and intends to use the net proceeds for working capital and general corporate purposes. Maxim Group is acting as the sole placement agent on a reasonable best-efforts basis.
The offering is subject to market conditions, with no guarantee of completion or final terms. The offering is being made pursuant to a shelf registration statement on Form S-3 that became effective on December 12, 2023. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC's website.
Castellum (NYSE-American: CTM) has announced a registered direct offering of 9,473,700 shares of common stock at $0.38 per share, expecting to raise approximately $3.6 million in gross proceeds before deducting placement agent fees and other offering expenses. The offering, managed by Maxim Group as the sole placement agent, is expected to close around December 24, 2024. The shares are being offered through a shelf registration statement on Form S-3 that was declared effective by the SEC on December 12, 2023.
Castellum (NYSE-American: CTM) announces a significant contract win through its subsidiary Specialty Systems, Inc., in collaboration with Corvus Consulting and Global Technology and Management Resources. The company secured all four unrestricted domains in the OASIS+ (One Acquisition Solution for Integrated Services Plus) contract, complementing three previously awarded small business domains.
The awarded domains include intelligence services, technical and engineering, research and development, and management & advisory. This government-wide contract has a ten-year performance period with no ceiling value, representing a major strategic opportunity for Castellum to expand its federal customer support.
Castellum (NYSE-American: CTM) reported sequential revenue growth in Q3 2024, reaching $11.6 million, up from $11.5 million in Q2 and $11.3 million in Q1. Gross profit increased to $5.0 million, compared to $4.7 million in Q2 and $4.5 million in Q1. The company's CEO highlighted that while current growth is modest due to existing contract performance, their strategy focuses on securing new contracts in 2025 to drive significant improvements in quarterly and long-term performance. Full financial results will be filed by November 14, 2024.
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