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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.

Castellum, Inc. (CTM) announces a new strategic alliance between its subsidiary Specialty Systems, Inc. and Epic Systems, Inc. The alliance aims to leverage SSI's past performance and Epic's small business status to bid on government contracts in IT services and cybersecurity.

Castellum, Inc. (CTM) announces record revenue of $45.2 million for 2023, up from $42.2 million in 2022. Despite a net loss of $17.9 million due to non-cash charges for goodwill impairment, the company's RCOP improved throughout 2023, reaching $0.36 million in Q4. Management is optimistic about converting a $600 million sales pipeline into contract wins in 2024.

Castellum, Inc. (CTM) announces the closing of a $4 million financing with Live Oak Bank, securing a revolving credit facility. The company pays down debts, eliminates potential share dilution, and strengthens its financial position.

Castellum, Inc. (CTM) has closed a registered direct offering and a concurrent private placement, raising approximately $2.7 million. The offering consisted of 8,437,501 shares of common stock at an effective offering price of $0.32 per share. The company also issued warrants to purchase up to 8,437,501 shares of common stock at an exercise price of $0.35 per share. The proceeds will be used to strengthen the company's balance sheet and increase liquidity to support business growth. Castellum aims to secure new contract wins in 2024 to improve its income statement and net leverage ratios.

Castellum, Inc. has entered into a securities purchase agreement with an institutional investor for a registered direct offering and a concurrent private placement, raising an estimated $2.7 million in gross proceeds. The Company will issue 8,437,501 shares of common stock and warrants to purchase the same number of shares at an effective price of $0.32 per share. The warrants will become exercisable upon shareholder approval, with an exercise price of $0.35 per share, and will expire five years from such approval.