KARMAN HLDGS INC Stock Price, News & Analysis

Karman Space & Defense (NYSE: KRMN), a provider of critical system solutions for the space and defense industry, has announced a proposed public offering of 20 million shares of common stock by selling stockholders. The underwriters will have a 30-day option to purchase an additional 3 million shares.

The offering will be managed by Citigroup and Evercore ISI as book-running managers. Importantly, Karman will not receive any proceeds from this offering as all shares are being sold by existing stockholders. The offering will be made through a prospectus, and a registration statement has been filed with the SEC but is not yet effective.

Karman Space & Defense (NYSE: KRMN) hosted Representative Gil Cisneros Jr. (CA-31) at its South El Monte facility, showcasing its role in national security and space missions. As a member of the House Armed Services Committee, Rep. Cisneros toured the facility's engineering and production operations. Karman supports critical defense programs for the U.S. Navy, Air Force, and Missile Defense Agency, developing technologies for underwater vehicles, ballistic missiles, and hypersonic systems. The company also provides integrated systems for space industry projects, including ULA's Vulcan rocket, which deploys national security payloads for the DoD and National Reconnaissance Office. CEO Tony Koblinski emphasized Karman's commitment to homeland defense and American manufacturing capabilities.

Karman Space & Defense (NYSE: KRMN), a leading provider of critical system solutions for the aerospace and defense industry, has announced its participation in the William Blair 45th Annual Growth Stock Conference. CEO Tony Koblinski and CFO Mike Willis will present on June 5, 2025, at 11:20 AM Central Time. The presentation will be accessible via live webcast, with a replay available for six months on both the conference platform and Karman's investor relations website. Karman specializes in rapid design and development of solutions for launch vehicles, satellites, spacecraft, missile defense, hypersonic systems, and unmanned aerial systems (UAS).

Karman Space & Defense (NYSE: KRMN) has acquired Industrial Solid Propulsion (ISP) for a total consideration of up to $60 million, comprising $50 million in cash, $5 million in KRMN shares, and $5 million in potential earnout payments. The acquisition, closed on May 28, 2025, was primarily funded through a $75 million increase to Karman's existing $300 million Term Loan B. ISP, founded in 1983 and based in Cedar City, Utah, brings over 40 years of expertise in small-diameter energetic and propulsion technologies. The company possesses 14 proprietary propellant formulation families and over 400 motor configurations, with significant experience in tactical boost motors and solid rocket propellant systems. The acquisition strengthens Karman's position in the UAS, UAS intercept, and rocket-assisted takeoff systems markets, while being accretive to revenue growth, Adjusted EBITDA margin, contracted revenue, and cash flow.

Karman Space & Defense (NYSE: KRMN) reported strong Q1 FY2025 results with record quarterly revenue of $100.1 million, up 20.6% year-over-year. Despite posting a net loss of $4.8 million due to IPO-related expenses, the company achieved record non-GAAP adjusted EBITDA of $30.3 million. Key highlights include a record funded backlog of $636.4 million, successful closure of $350 million in financing, and the strategic acquisition of MTI. Revenue growth was observed across all segments: Hypersonics (+21.1%), Space and Launch (+12%), and Tactical Missile Systems (+29.6%). The company reaffirmed its FY2025 guidance with expected revenue between $423-433 million and adjusted EBITDA of $132-137 million, with 95% visibility to the midpoint of revenue guidance.

Karman Space & Defense (NYSE: KRMN) has inaugurated its new 30,000 square foot facility in Decatur, Alabama, marking a significant expansion in its aerospace and defense capabilities. The facility, celebrated with a ribbon-cutting ceremony, is strategically positioned in a key aerospace and defense corridor.

The new location is designed for maximum operational efficiency, focusing on design, engineering, manufacturing, assembly, integration, and testing of advanced defense and space systems. Its proximity to major prime contractors and critical infrastructure enables swift delivery of solutions for the U.S. Department of Defense and commercial space partners.

The facility will create high-skilled employment opportunities, particularly in quality engineering and assurance, engineering, and assembly technician roles. CEO Tony Koblinski emphasized the company's dedication to national security and space exploration through this expansion, highlighting their focus on delivering mission-critical systems with advanced technology.

Karman Space & Defense (NYSE: KRMN) has announced its upcoming first quarter fiscal year 2025 earnings release and conference call schedule. The company, which specializes in critical system solutions for the aerospace and defense sector, will release its financial results on Tuesday, May 13, 2025, after market close.

The earnings conference call and webcast will be held at 1:30 PM Pacific Time on the same day. Key executives participating include CEO Tony Koblinski, CFO Mike Willis, COO Jonathan Beaudoin, and VP of Investor Relations Steven Gitlin.

Investors can join via:

• Toll-free: +1 (800) 715-9871
• International: +1 (646) 307-1963
• Conference ID: 4015462
• Live webcast: Available on the company's investor relations website

An audio replay will be accessible through May 20, 2025, via telephone and the company's website.

Karman Space & Defense (NYSE: KRMN) reported strong financial results for fiscal year 2024, achieving record revenue of $345.3 million, up 23.0% year over year. The company posted net income of $12.7 million (up 191.3%) and adjusted EBITDA of $106.1 million (up 29.7%).

Key achievements include a record funded backlog of $579.8 million (up 35.2%) and successful completion of a $581.9 million IPO in February 2025, raising $173.2 million in net primary proceeds. The company also secured a $300 million Term Loan B and $50 million revolving credit facility.

All three business segments showed double-digit growth:

• Hypersonics and Strategic Missile Defense: $114.6M (up 14.5%)
• Space and Launch: $115.0M (up 21.5%)
• Tactical Missile and Defense Systems: $115.6M (up 34.5%)

For 2025, Karman projects revenue between $423-433 million and adjusted EBITDA of $132-137 million.

Karman Space & Defense (NYSE: KRMN) has acquired Metal Technology Inc. (MTI) for $90 million in cash. MTI, founded in 1986 and based in Albany, Oregon, is a leader in manufacturing specialized refractory metal alloy systems for strategic missile programs.

MTI specializes in refractory metals like tantalum, zirconium, niobium, vanadium, and molybdenum, producing critical components including nozzles, EM shielding, energetic liners, gas generators, shape charges, and actuation systems. The company's products are essential for optimizing performance in ultra-high temperature environments of next-generation missile programs.

The acquisition provides Karman with complementary technical capabilities, including additive manufacturing, hot forging, and specialized alloy forming. The deal is immediately accretive across major financial metrics, including revenue growth, Adjusted EBITDA margins, contracted revenue, and cash flow.