Welcome to our dedicated page for Castellum SEC filings (Ticker: CTM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Castellum, Inc. filings document a Nevada public company that provides cybersecurity, electronic warfare, software engineering, and related technology services to federal government customers. Its Form 8-K reports cover operating results, contract awards, CMMC Level 2 C3PAO certification, debt retirement, executive employment arrangements, officer appointments, and shareholder communications.
Proxy materials describe annual meeting matters, board elections, stockholder voting procedures, executive compensation, and governance practices. The filings also identify Castellum as an emerging growth company and provide formal disclosure around capital structure, subsidiaries, and material events tied to its defense-focused services business.
Castellum, Inc. reported strong unaudited 2025 results with clear operational progress. Revenue for 2025 rose to $52.9 million, up $8.1 million or 15.2% from 2024, and management notes this growth is entirely organic following its last acquisition in 2023.
The company’s profitability metrics improved meaningfully. Operating loss narrowed to $2.8 million from $7.2 million, while net loss to common shareholders improved to $2.5 million from $10.1 million, reflecting better contract wins and cost discipline. Non-GAAP Adjusted EBITDA increased to $1.0 million from $0.8 million, after adding back depreciation, amortization, stock-based compensation, and prior-year non-recurring charges.
The balance sheet strengthened as total cash grew by $2.6 million to $14.9 million as of December 31, 2025, supported by financing activities and the strategic use of cash to reduce outstanding debt from $10.7 million a year earlier. Management highlights improved cash-to-debt metrics and a shift from other expense of $2.7 million in 2024 to other income of $0.6 million in 2025. Leadership describes ongoing contract wins, increased business development investment, and renewed M&A activity as they prepare for further organic and acquisition-driven growth.
Castellum, Inc. filed an 8-K to announce it has paid off all its debt, retiring the remaining $400,000 note payable to Emil Kaunitz. Management explains that as of July 2024 the balance sheet carried just over $11 million in debt and just over $2 million in cash, while today the company reports having no debt and more than $14 million in cash.
The company highlights three major prime contract wins over the past year totaling just over $219 million in value, each running about five years and supporting U.S. Navy missions. Leadership describes a shift from an acquisition-driven "Phase 1" to an organic growth-focused "Phase 2," and now a "Phase 3" strategy that combines continued organic growth with at least one accretive acquisition targeted within the next 12 months.
Castellum, Inc. reported that on January 7, 2026 it issued a press release announcing a $49.8 million recompete contract award to its subsidiary, Specialty Services, Inc. This means an existing customer chose to continue working with the subsidiary under a new contract of the same scope or similar work. The company attached the full press release as an exhibit to provide additional details on the award.
Castellum, Inc. officer Tammy L. Martin, the company’s General Counsel and Secretary, reported her beneficial ownership in the company’s stock. She directly owns 12,500 shares of Common Stock.
Martin also holds stock options covering additional Common Stock. These include options exercisable for 12,500 shares at an exercise price of $ 2, all of which are currently exercisable. She has options for 100,000 shares at $ 1.07, with 50,000 vesting ratably over thirty-six months commencing February 1, 2025 and 50,000 vesting ratably over thirty-six months commencing March 1, 2025. She further holds options for 175,000 shares at $ 1.19, which vest ratably over twenty months commencing December 1, 2025.
Castellum, Inc. reported new and updated employment arrangements for two senior executives. Effective January 1, 2026, the company entered into an at-will employment arrangement with its General Counsel, Tammy L. Martin, providing an annual base salary of $290,000 and eligibility to participate in benefit plans generally available to all employees.
Also effective January 1, 2026, Castellum increased the annual base salary of its Chief Operating Officer, Andrew Merriman, to $290,000. For both Ms. Martin and Mr. Merriman, the at-will employment terms were modified so that either party must give sixty days advance written notice before terminating the employment arrangement.
Castellum, Inc. director and executive officer Jay O. Wright reported a personal stock transaction involving the company’s common shares. On 12/19/2025, he sold 30,000 shares of Castellum common stock at a price of $1.05 per share. After this sale, he beneficially owned 7,134,973 shares directly. This filing reflects an insider’s change in ownership and does not represent a transaction by the company itself.
Castellum, Inc. insider Jay O. Wright, a director and officer (General Counsel, Secretary and EVP - Strategy), reported sales of company common stock. On 12/15/2025 he sold 6,000 shares at $1.103 per share, and on 12/16/2025 he sold 12,000 shares at $1.073 per share, both coded as sale transactions.
Following these trades, he directly beneficially owned 7,176,973 shares after the first transaction and 7,164,973 shares after the second transaction, with all holdings reported as direct ownership.
Castellum, Inc. director and executive Jay O. Wright reported open-market sales of company common stock. On 12/10/2025, he sold 127,000 shares at a price of $1.207 per share. On 12/11/2025, he sold 50,000 shares at $1.161 per share, followed by 11,000 shares at $1.159 per share on 12/12/2025. After these transactions, Wright beneficially owned 7,182,973 shares of Castellum common stock directly.
Castellum, Inc. reported leadership changes and contract news. Jay O. Wright resigned as Executive Vice-President Strategy, General Counsel, Secretary, and as a member of the Board of Directors, effective at the end of December 31, 2025. The company states there was no dispute between Mr. Wright and Castellum related to his resignation.
Effective January 1, 2026, Senior Counsel Tammy L. Martin will become General Counsel and Secretary, providing continuity in the company’s legal leadership. Castellum also announced the award of multiple Missile Defense Agency SHIELD IDIQ contracts in a December 8, 2025 press release, and issued a separate December 9, 2025 press release containing a letter to shareholders, both of which are attached as exhibits.
Castellum, Inc. insider reports stock sales in Form 4 filing. A director and officer of Castellum, Inc. (serving as General Counsel, Secretary and EVP - Strategy) reported two open-market sales of common stock. On 11/28/2025, the insider sold 18,000 shares at a price of $1.055 per share. On 12/01/2025, the insider sold an additional 35,000 shares at $1.05 per share. After these transactions, the reporting person beneficially owns 7,370,973 shares of Castellum common stock directly.