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 (CTM) provides mission-critical IT solutions and cybersecurity services to defense, healthcare, and financial sectors. This news hub offers investors and industry professionals centralized access to verified corporate developments and strategic announcements.
Track key business updates including quarterly earnings disclosures, cybersecurity innovation milestones, and acquisition activity. Our curated collection ensures timely access to press releases about software engineering advancements, federal contract awards, and data analytics initiatives shaping CTM's market position.
Discover official statements covering:
• Strategic cybersecurity partnerships
• Federal sector program updates
• Technology acquisition details
• Financial performance reports
Bookmark this page for efficient monitoring of Castellum's evolving capabilities in electronic warfare solutions, intelligence analysis tools, and enterprise IT infrastructure developments. All content is sourced directly from company communications to ensure regulatory compliance and factual accuracy.
Castellum (NYSE-American: CTM), a company specializing in cybersecurity, electronic warfare, and software services for the federal government, has retired its $4 million bank term loan with Live Oak Bank ahead of schedule. This loan originated in August 2021 for the acquisition of Specialty Systems. With this early payoff, Castellum reduces its total outstanding debt to $10.3 million. Starting in September 2024, the company will also begin monthly principal payments on the Buckhout Charitable Trust promissory note. CEO Glen Ives stated that this move will decrease future interest expenses and allocate more resources toward growth.
Castellum (NYSE-American: CTM) has made its 34th consecutive monthly payment on a term loan from Live Oak Banking Company, initiated to support an August 2021 acquisition. With only two payments remaining, Castellum's outstanding debt has been reduced to $10.6 million and is projected to fall below $10 million by year-end. Incoming CEO Glen Ives emphasized the importance of deleveraging to enhance resources for customer support, employee development, and organic growth, promising a greater return for shareholders. The company will maintain a revolver with Live Oak Bank post repayment of the term loan in early August.
Castellum, a cybersecurity, electronic warfare, and software services company, announced leadership changes effective July 1, 2024. Mark Fuller, co-founder and CEO, will step down to pursue other interests. Glen Ives, currently the COO, will succeed him as CEO. Under Fuller's leadership, Castellum grew into a $45 million company with strong cybersecurity and software capabilities. The Board thanks Fuller for his contributions and looks forward to Ives enhancing organic revenue growth, profitability, and strategic acquisitions. Both Fuller and Ives expressed confidence and optimism in the company's future trajectory.
Castellum, a cybersecurity and software services company, reported its Q1 2024 financial results. Revenue rose to $11.3 million from $11.1 million in Q4 2023. However, gross profit slightly declined to $4.5 million from $4.6 million. Operating loss increased to $2.7 million from $1.5 million in the previous quarter. The company's non-GAAP Recurring Cash Operating Profit (RCOP) was negative $0.1 million, improving from negative $0.4 million in Q4 2023. CEO Mark Fuller highlighted significant progress in reducing short-term debt through two financing transactions and focused on business development and profitability improvements for the rest of 2024 and into 2025.
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