Castellum CTM Q2 2026 earnings

“Revenue for the first six months of 2026 grew 10% year over year to $28.2 million and gross profit increased to $9.8 million, driven by the continued ramp up of the major long-term prime contracts we won in 2025, including the NAVAIR PMA-290 Special Missions program and the NAWCAD Lakehurst MO&I award. This first half growth trajectory, combined with our total backlog of approximately $272 million and a EXHIBIT 99.1 qualified pipeline that continues to expand, gives us confidence that Castellum is on track to deliver record revenue for the full year 2026. Second quarter revenue was stable as compared to the prior year, reflecting gains from the ramp up of SSI's NAWCAD Lakehurst contract, partially offset by the expected wind down of certain contracts that contributed additional revenue in the second quarter of 2025. This revenue recognition timing factor is common in our industry. Additionally, we ended the quarter with a total backlog of approximately $272 million, which provides multi-year revenue visibility. We currently expect to recognize approximately 16% of this backlog over the next 12 months and approximately 48% over the next 24 months, with the remainder recognized thereafter.”