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Castellum, Inc. (Symbol: CTM) is a prominent provider of cutting-edge information technology services, catering to various sectors such as financial services, healthcare, and users of extensive data applications. The company excels in offering a broad spectrum of services, including intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity policy support, data analytics, and Model-Based Systems Engineering (MBSE).
Castellum continuously innovates and enhances its capabilities organically while strategically acquiring technology firms. These acquisitions focus on fields like cybersecurity, information technology, electronic warfare, information warfare, and information operations. As a result, Castellum has secured a significant presence across defense, federal, civilian, and commercial markets.
In recent developments, Castellum has reinforced its market position through several key acquisitions and technological advancements. The company's growth strategy emphasizes both organic growth and strategic acquisitions, thereby expanding its suite of services and market reach.
The company remains committed to providing top-tier services and solutions, ensuring robust data security and operational efficiency for its clients. With a strong financial standing and a dedicated team of experts, Castellum is well-positioned to continue its trajectory of growth and innovation in the tech industry.
Castellum, Inc. (NYSE-American: CTM) has been awarded a $1.9 million contract for the NAVAIR Aircraft Launch & Recovery Equipment (ALRE) V2 Maintenance Management System (V2MMS) through its subsidiary Specialty Systems, Inc. (SSI). This contract extends the existing agreement, with $1.1 million to be recognized in calendar 2023. The integration of the V2MMS software aims to enhance capabilities for the US Navy's aircraft carriers. Castellum's ongoing collaboration with NAVAIR, which spans over two decades, reinforces its commitment to meeting mission-critical needs.
Castellum, Inc. (NYSE-American: CTM), a technology firm specializing in cybersecurity and IT services for federal agencies, announced a non-binding letter of intent to acquire a government contractor focused on similar sectors. This move follows Castellum's strategy to enhance its capabilities and customer base. The acquisition, pending due diligence, could increase Castellum's annual revenue run-rate to over $60 million from the current $44 million. The company aims to close the deal within 90 days, furthering its buy-and-build strategy to double revenue in 2023.
Castellum, Inc. (NYSE American: CTM) has appointed Alan "Al" Lynn to its Advisory Board. This strategic move aims to leverage Lynn's extensive experience in technology innovation, particularly from his tenure at Cisco Systems, where he led engineering initiatives in emerging technologies. CEO Mark Fuller highlighted that Lynn's expertise will be vital in refining Castellum's strategic plans related to cybersecurity and technology. Lynn's background as a retired US Army Lieutenant General adds significant operational experience, enhancing Castellum's focus in the defense-oriented technology sector.
Castellum (NYSE-American: CTM) recently shared an update from CEO Mark Fuller, highlighting the company's growth and strategic direction heading into 2023. Castellum achieved a run rate of $44.4 million and transitioned from operating losses to recurring cash profits. The firm aims to double its size in 2023 while minimizing debt and share issuance. Despite operational successes, the stock has faced a significant decline, falling from over $4 to below $1. The CEO emphasized efforts to enhance share value through market purchases and investor outreach.
Castellum (NYSE-American: CTM) has secured a significant award through its subsidiary, Specialty Systems, Inc. (SSI), under the Architecture and Integration Directorate Multiple Award IDIQ contract. With a ceiling of $900 million and a performance period extending to December 2032, SSI will compete for task orders focused on multi-domain systems capabilities and rapid prototyping. This award positions Castellum to expand its services in the Air Force, enhancing its customer base and operational portfolio in the defense sector.
Castellum, Inc. (NYSE-American: CTM) announced significant insider stock purchases by CEO Mark Fuller and CFO David Bell, reflecting confidence in the company's future. The firm reported record revenues and gross margins over 40% during Q3 2022, alongside a letter of intent to acquire an East Coast company generating $10 million in revenue. The purchases were made with personal funds, underscoring the executives' belief in Castellum's strategic direction. Detailed information on these transactions can be found in SEC Form 4 filings.
Castellum, Inc. (CTM) reported record revenues of $11.12 million for the third quarter ended September 30, 2022, with a gross profit of $4.65 million. Despite a GAAP operating loss of $2.05 million, the company achieved a Non-GAAP Recurring Cash Operating Profit of approximately $645,000. Strong gross margins exceeding 40% were noted. Management expressed confidence in future growth, highlighting a letter of intent for a $10 million revenue acquisition. The full financial results are available on the SEC website.
Castellum, Inc. (NYSE AMERICAN: CTM) has signed a Letter of Intent to acquire a government contractor on the East Coast with approximately $10 million in revenue. The deal is pending due diligence and a definitive purchase agreement, aiming for closure by the end of January 2023. If successful, this acquisition would elevate Castellum's revenue run-rate to over $54 million and enhance its service capabilities to government clients. The company is also optimistic about future acquisitions in 2023, buoyed by record revenue reported for Q3 2022.
Castellum, Inc. (NYSE American: CTM) announced the appointment of Skyline Corporate Communications Group, LLC to enhance its investor relations and corporate communications. This decision follows Castellum's recent listing on the NYSE American and aims to broaden its investor base. CEO Mark Fuller highlighted the importance of effectively communicating the company's growth strategies and milestones to support its objectives in cybersecurity and IT services. Skyline will aid in conveying Castellum鈥檚 corporate narrative to the financial community, enhancing shareholder value through strategic messaging.
Castellum, Inc. (NYSE-American: CTM) reported a record revenue of approximately $11.1 million for Q3 2022, highlighting significant growth in its cybersecurity and IT services. The company anticipates publishing its full financial results on or about November 14, 2022. CEO Mark Fuller expressed optimism regarding leveraging the recent uplisting to NYSE-American to further enhance revenue and shareholder value. Castellum is focused on strategic acquisitions in technology services.
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