Castellum, Inc. Announces $11.6 Million Higher Sequential Revenue and Gross Profits for Q3 2024
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.
Castellum (NYSE-American: CTM) ha riportato una crescita sequenziale dei ricavi nel terzo trimestre del 2024, raggiungendo 11,6 milioni di dollari, in aumento rispetto a 11,5 milioni nel secondo trimestre e 11,3 milioni nel primo trimestre. Il profitto lordo 猫 aumentato a 5,0 milioni di dollari, rispetto a 4,7 milioni nel Q2 e 4,5 milioni nel Q1. L'amministratore delegato dell'azienda ha sottolineato che, mentre la crescita attuale 猫 modesta a causa delle prestazioni dei contratti esistenti, la loro strategia si concentra sull'acquisizione di nuovi contratti nel 2025 per promuovere miglioramenti significativi nelle performance trimestrali e a lungo termine. I risultati finanziari completi saranno presentati entro il 14 novembre 2024.
Castellum (NYSE-American: CTM) report贸 un crecimiento secuencial en ingresos en el tercer trimestre de 2024, alcanzando 11,6 millones de d贸lares, un aumento con respecto a 11,5 millones en el segundo trimestre y 11,3 millones en el primero. El beneficio bruto aument贸 a 5,0 millones de d贸lares, en comparaci贸n con 4,7 millones en el Q2 y 4,5 millones en el Q1. El director ejecutivo de la compa帽铆a destac贸 que, aunque el crecimiento actual es modesto debido al rendimiento de los contratos existentes, su estrategia se centra en asegurar nuevos contratos en 2025 para impulsar mejoras significativas en el rendimiento trimestral y a largo plazo. Los resultados financieros completos se presentar谩n antes del 14 de noviembre de 2024.
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Castellum (NYSE-American: CTM) a signal茅 une croissance s茅quentielle des revenus au troisi猫me trimestre 2024, atteignant 11,6 millions de dollars, contre 11,5 millions au deuxi猫me trimestre et 11,3 millions au premier trimestre. Le b茅n茅fice brut a augment茅 脿 5,0 millions de dollars, compar茅 脿 4,7 millions au Q2 et 4,5 millions au Q1. Le PDG de l'entreprise a soulign茅 que bien que la croissance actuelle soit modeste en raison des performances des contrats existants, leur strat茅gie se concentre sur la s茅curisation de nouveaux contrats en 2025 pour g茅n茅rer des am茅liorations significatives des performances trimestrielles et 脿 long terme. Les r茅sultats financiers complets seront d茅pos茅s d'ici le 14 novembre 2024.
Castellum (NYSE-American: CTM) berichtete im dritten Quartal 2024 von einem sequenziellen Umsatzwachstum, das 11,6 Millionen Dollar erreichte, im Vergleich zu 11,5 Millionen im zweiten Quartal und 11,3 Millionen im ersten Quartal. Der Bruttogewinn stieg auf 5,0 Millionen Dollar, verglichen mit 4,7 Millionen im Q2 und 4,5 Millionen im Q1. Der CEO des Unternehmens hob hervor, dass das aktuelle Wachstum zwar bescheiden ist, bedingt durch die Leistungen bestehender Vertr盲ge, ihre Strategie jedoch darauf abzielt, im Jahr 2025 neue Vertr盲ge zu sichern, um signifikante Verbesserungen in der quartalsweisen und langfristigen Leistung voranzutreiben. Die vollst盲ndigen finanziellen Ergebnisse werden bis zum 14. November 2024 eingereicht.
- Sequential revenue growth to $11.6M in Q3 2024
- Gross profit increase to $5.0M in Q3 2024
- Consistent quarter-over-quarter growth in both revenue and gross profit
- Growth rate described as 'modest' by management
- Heavy reliance on existing contracts for current growth
- new contract wins impacting significant growth potential
Insights
The sequential quarterly revenue growth and gross profit improvements, while positive, are relatively modest. Q3 revenue of
The CEO's candid acknowledgment that current growth is primarily from existing contract execution rather than new business wins is concerning. With a market cap of
VIENNA, Va., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. ("Castellum" or the "Company") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces certain highlights of its operating results for its third quarter ended September 30, 2024.
Revenue for the third quarter of 2024 was
"I鈥檓 encouraged by the momentum we are generating in 2024," said of the Company. "We have produced greater revenue and gross profit, quarter by quarter, but our growth is modest because it is based upon outstanding performance and execution on our current contracts. To strengthen our company and share value more significantly, our growth must come from new contract wins. Since I became CEO four months ago, our focus and priority have been to posture our company for realistic opportunities and new contract wins in 2025. Our exceptional CTM professionals bring world-class skills, talent, and experience to our customers and our vital national security mission. Together with our strong mission and technical capabilities, extensive and relevant past performance, and outstanding ability to execute on our current contracts, we have a solid foundation for growth. Moving forward, I believe our focused commitment and strategic investments to strengthen our new business growth capabilities and secure new contracts will drive significant and positive improvements in our quarterly and long-term performance.鈥�
Castellum's full for the three and nine months ended September 30, 2024, are expected to be filed on or before November 14, 2024, on Form 10-Q, available at .
About (NYSE-American: CTM):
Castellum, Inc. is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government - .
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; and the Company's ability to maintain the listing of its common stock on the NYSE American LLC. 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 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.
Contact:
Glen Ives, President and Chief Executive Officer
Phone: (703) 752-6157
A photo accompanying this announcement is available at
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