Castellum Reports Q1 Revenue of $14.3M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 08 2026
0mins
Should l Buy CTM?
Reports Q1 revenue $14.3M vs. $11.7M last year. Cash and cash equivalents as of March 31 was $15.8M, as compared to $14.9M at December 31, 2025. Glen Ives, President and CEO of Castellum, commented, "Our strong Q1 2026 results reflect the momentum we built throughout a standout 2025, when we secured over $219M in contracts across three major, long-term prime wins and deepened our relationships with the U.S. Navy and other key federal customers. The 23% revenue increase for Q1 2026 was driven by production ramp-up of these new contract wins. We ended the quarter with a record backlog of approximately $273M which provides us with multi-year revenue visibility. We currently expect to recognize approximately 16% of this backlog over the next 12 months and approximately 49% over the next 24 months, with the remainder recognized thereafter. Similarly, the pipeline of qualified opportunities continues to increase, and we had $938M in identified opportunities at quarter-end, which is a testament of the strength of our strategy and the competitiveness of our offerings for complex, mission-critical programs in cybersecurity, electronic warfare, and advanced engineering."
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Analyst Views on CTM
Wall Street analysts forecast CTM stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.688
Low
3.50
Averages
3.50
High
3.50
Current: 0.688
Low
3.50
Averages
3.50
High
3.50
No data
About CTM
Castellum, Inc. is a technology company in the areas of cybersecurity, information technology (IT), electronic warfare, information warfare, and information operations with businesses in the defense, federal, civilian, and commercial markets. The Company’s services include intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity and policy support, data analytics, and model based systems engineering (MBSE). These services focus on securing data and establishing related policies, and are applicable to customers in the federal government, financial services, healthcare, and other users of large data applications. It specializes in planning and intelligence support for information warfare and information operations (IW/IO). The Company develops IW/IO plans, exercises, doctrine, and training for the Military Services and the Combatant Commands in domestic and deployed overseas locations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- One-on-One Meeting Arrangements: Selected companies are accepting requests for one-on-one management meetings, enabling investors to communicate directly with company leadership, which enhances interaction and transparency between investors and companies.
- Resource Download Convenience: Attendees can download investor materials from the company's resource section, which not only provides comprehensive information support for investors but also promotes a deeper understanding of the company's business.
- Advantages of Virtual Conferences: Virtual Investor Conferences offer real-time investor engagement solutions that improve the efficiency of connections between companies and investors, marking a new trend in investor relations management, especially among retail and institutional investors globally.
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- Conference Content Replay: Presentations from the Precious Metals & Critical Minerals Virtual Investor Conference are now available for on-demand viewing, allowing investors, advisors, and analysts to access content 24/7 for 90 days, thereby enhancing convenience and flexibility in information retrieval.
- One-on-One Meeting Arrangements: Selected companies are accepting requests for one-on-one management meetings, enabling investors to communicate directly with company leadership, which enhances interaction and transparency between investors and companies.
- Resource Download Convenience: Attendees can download investor materials from the company's resource section, which not only provides comprehensive information support for investors but also promotes a deeper understanding of the company's business.
- Advantages of Virtual Conferences: Virtual Investor Conferences offer real-time investor engagement solutions that improve the efficiency of connections between companies and investors, marking a new trend in investor relations management, especially among retail and institutional investors globally.
See More
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- Earnings Beat: Castellum reported a Q1 GAAP EPS of $0.00, exceeding expectations by $0.01, indicating stable profitability management despite not achieving positive earnings, reflecting effective operational control.
- Significant Revenue Growth: The company achieved Q1 revenue of $14.3 million, a 22.6% year-over-year increase, surpassing expectations by $1.17 million, demonstrating Castellum's successful market share expansion amid recovering demand.
- Record Backlog: As of March 31, 2026, total backlog reached a record $273.3 million, up from $265 million on December 31, 2025, providing strong support for future revenue growth.
- Expanded Qualified Pipeline: The qualified pipeline totaled $938 million as of March 31, 2026, increasing from $817 million on December 31, 2025, reflecting the company's proactive progress in identifying new opportunities and indicating future growth potential.
See More
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- Conference Agenda Released: The Precious Metals & Critical Minerals Virtual Investor Conference is set for May 5-7, 2026, attracting individual and institutional investors, which is expected to enhance market attention on the sector due to strong investor interest.
- Ease of Participation: Investors can register for free and attend the conference, with system checks designed to expedite participation and ensure timely updates, thereby increasing engagement and interaction during the event.
- Diverse Company Presentations: The conference will feature multiple companies, including Novo Resources Corp. and Atlas Lithium Corp., providing investors with a wealth of investment opportunities that could further drive capital inflow into the precious metals and critical minerals sectors.
- Enhanced Investor Interaction: The virtual format offers a real-time interactive platform for companies to hold one-on-one meetings with investors, improving the efficiency of investor relations management and facilitating direct communication between companies and potential investors.
See More
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- Financial Structure Optimization: CFO David Bell stated that this repayment represents the final step in the company's deleveraging process, laying a solid foundation for future investment growth and demonstrating confidence in business expansion.
- Successful Acquisition Strategy: The repayment concludes Castellum's debt relationship with Emil Kaunitz, highlighting the company's strategic execution in acquisitions and enhancing its competitive position in the market.
- Future Growth Potential: By eliminating debt, Castellum is well-prepared for its next phase of growth, with expectations to drive further business expansion through new investments, thereby strengthening its market position.
See More
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- Clear Use of Proceeds: The funds raised will be allocated to exploration projects in central Newfoundland, particularly the Wilding Gold and Buchans projects, aimed at advancing the company's position in the critical minerals sector.
- Tax Incentive Structure: The issued flow-through shares will qualify as “Critical Mineral flow-through shares” under the Income Tax Act, providing tax benefits to investors and enhancing the attractiveness of the investment.
- Compliance Assurance: Canterra commits to indemnifying investors for any additional taxes due to reductions in qualifying expenditures by the tax authority, thereby ensuring investor rights and enhancing market trust.
See More
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- Critical Minerals Shares: The financing will include up to 10,940,000 Critical Minerals flow-through shares at a price of C$0.25 each, expected to generate C$2.735 million, thereby enhancing the company's investment capacity in the critical minerals sector.
- National Flow-Through Shares: Additionally, Canterra will offer up to 12,891,304 National flow-through shares at C$0.23 each, projected to raise C$2.965 million, with funds allocated for exploration projects in central Newfoundland, thereby boosting the company's resource development potential.
- Clear Use of Proceeds: The net proceeds from this upsized placement will be directed towards the exploration of the Wilding Gold and Buchans projects, indicating the company's strategic positioning in critical minerals and gold sectors to capitalize on future market opportunities.
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