NYSEAMERICAN : CTM
Castellum, Inc. — Financial statements
Technology · Information Technology Services · United States
Last price 0.485 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 45.97M
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Financial statements
Castellum, Inc. (CTM) reported revenue of 55.33M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 55.33M | 52.87M | 44.76M | 45.24M | 42.19M | 25.07M |
| Cost of Revenue | 35.80M | 33.50M | 26.50M | 26.57M | 24.59M | 13.99M |
| Gross Profit | 19.54M | 19.37M | 18.27M | 18.68M | 17.60M | 11.07M |
| Selling, General & Admin | 22.27M | 22.18M | 25.51M | 28.52M | 27.01M | 18.80M |
| Operating Expenses | 22.27M | 22.18M | 25.51M | 28.52M | 27.01M | 18.80M |
| Operating Income | -2.74M | -2.81M | -7.24M | -9.84M | -9.41M | -7.73M |
| Interest Expense | -1.16M | -3.25M | -3.99M | -2.52M | ||
| Interest & Investment Income | 350.21K | 3.25K | ||||
| Other Non Operating Income (Expenses) | 356.00K | 621.00K | -725.60K | 860.44K | -131.70K | 38.85K |
| EBT Excluding Unusual Items | -2.03M | -2.19M | -9.13M | -12.23M | -13.53M | -10.20M |
| Impairment of Goodwill | -6.92M | |||||
| Gain (Loss) on Sale of Assets | 39.23K | |||||
| Other Unusual Items | -822.85K | 92.00K | -555.00K | |||
| Pretax Income | -2.03M | -2.19M | -9.91M | -19.06M | -14.09M | -10.20M |
| Income Tax Expense | 253.10K | 207.98K | 68.03K | -1.26M | 819.60K | -2.66M |
| Net Income | -2.28M | -2.40M | -9.98M | -17.80M | -14.91M | -7.55M |
| Preferred Dividends & Other Adjustments | 107.28K | 107.44K | 119.28K | 118.15K | 100.52K | 12.29K |
| Net Income to Common | -2.39M | -2.51M | -10.10M | -17.92M | -15.01M | -7.56M |
| Shares Outstanding (Basic) | 98.39M | 92.96M | 55.29M | 47.18M | 27.47M | 18.26M |
| Shares Outstanding (Diluted) | 98.39M | 92.96M | 55.29M | 47.18M | 27.47M | 18.26M |
| EPS (Basic) | -0.02 | -0.03 | -0.18 | -0.38 | -0.55 | -0.41 |
| EPS (Diluted) | -0.02 | -0.03 | -0.18 | -0.38 | -0.55 | -0.41 |
| Free Cash Flow | 2.61M | -2.10M | 1.12M | -2.28M | 900.88K | -1.36M |
| Free Cash Flow Per Share | 0.03 | -0.02 | 0.02 | -0.05 | 0.03 | -0.07 |
| Gross Margin | 35.30% | 36.64% | 40.80% | 41.28% | 41.71% | 44.18% |
| Operating Margin | -4.95% | -5.32% | -16.18% | -21.75% | -22.30% | -30.82% |
| Profit Margin | -4.32% | -4.74% | -22.56% | -39.60% | -35.57% | -30.15% |
| Free Cash Flow Margin | 4.71% | -3.97% | 2.50% | -5.04% | 2.14% | -5.43% |
| EBITDA | -1.34M | -1.32M | -5.02M | -7.31M | -7.38M | -5.84M |
| EBITDA Margin | -2.42% | -2.49% | -11.22% | -16.16% | -17.48% | -23.29% |
| D&A For EBITDA | 1.40M | 1.50M | 2.22M | 2.53M | 2.03M | 1.89M |
| EBIT | -2.74M | -2.81M | -7.24M | -9.84M | -9.41M | -7.73M |
| EBIT Margin | -4.95% | -5.32% | -16.18% | -21.75% | -22.30% | -30.82% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 16.87M | 14.88M | 12.01M | 1.83M | 4.64M | 2.02M |
| Cash & Short-Term Investments | 16.87M | 14.88M | 12.01M | 1.83M | 4.64M | 2.02M |
| Accounts Receivable | 7.15M | 8.75M | 5.78M | 7.04M | 5.45M | 6.01M |
| Other Receivables | 55.92K | 58.21K | 36.21K | |||
| Receivables | 7.20M | 8.81M | 5.81M | 7.04M | 5.45M | 6.01M |
| Prepaid Expenses | 802.23K | 800.67K | 667.59K | 404.23K | 223.00K | 185.82K |
| Restricted Cash | 250.00K | |||||
| Other Current Assets | 252.90K | 153.15K | 154.79K | 216.91K | 351.12K | |
| Total Current Assets | 25.12M | 24.65M | 18.89M | 9.50M | 10.67M | 8.21M |
| Property, Plant & Equipment | 1.16M | 1.03M | 1.23M | 923.31K | 208.87K | 278.48K |
| Long-Term Investments | 100.25K | 100.25K | 52.11K | |||
| Goodwill | 10.68M | 10.68M | 10.68M | 10.72M | 15.53M | 14.06M |
| Other Intangible Assets | 4.76M | 5.37M | 6.79M | 8.97M | 6.63M | 7.60M |
| Long-Term Deferred Tax Assets | 610.03K | |||||
| Other Long-Term Assets | 8.32K | 77.26K | 191.47K | |||
| Total Assets | 41.83M | 41.90M | 37.84M | 30.11M | 33.04M | 30.76M |
| Accounts Payable | 2.02M | 1.90M | 1.14M | 784.97K | 1.62M | 1.44M |
| Accrued Expenses | 2.95M | 2.76M | 3.40M | 2.93M | 1.87M | 1.51M |
| Short-Term Debt | 2.00M | 625.02K | 300.02K | |||
| Current Portion of Long-Term Debt | 400.00K | 1.45M | 2.31M | 2.03M | 1.28M | |
| Current Portion of Leases | 351.29K | 270.87K | 310.38K | 185.26K | 22.05K | 112.00K |
| Other Current Liabilities | 10.00K | 262.00K | 1.53M | 1.14M | 1.92M | 757.00K |
| Total Current Liabilities | 5.33M | 5.60M | 9.82M | 7.98M | 7.76M | 5.10M |
| Long-Term Debt | 6.95M | 8.40M | 7.74M | 10.32M | ||
| Long-Term Leases | 607.62K | 550.22K | 780.76K | 435.20K | 12.63K | 18.71K |
| Long-Term Deferred Tax Liabilities | 6.29K | |||||
| Other Long-Term Liabilities | 100.00K | 340.00K | ||||
| Total Liabilities | 5.94M | 6.15M | 17.66M | 17.16M | 15.51M | 15.43M |
| Common Stock | 9.47K | 9.46K | 7.71K | 4.77K | 4.17K | 2.00K |
| Additional Paid-In Capital | 93.89M | 92.33M | 74.26M | 56.93M | 43.62M | 26.41M |
| Retained Earnings | -58.02M | -56.59M | -54.08M | -43.98M | -26.09M | -11.09M |
| Total Common Equity | 35.88M | 35.75M | 20.18M | 12.95M | 17.53M | 15.32M |
| Shareholders' Equity | 35.88M | 35.75M | 20.18M | 12.95M | 17.53M | 15.32M |
| Total Liabilities & Equity | 41.83M | 41.90M | 37.84M | 30.11M | 33.04M | 30.76M |
| Total Debt | 958.91K | 1.22M | 11.49M | 11.96M | 10.11M | 11.73M |
| Net Cash (Debt) | 15.91M | 13.66M | 513.97K | -10.13M | -5.47M | -9.71M |
| Net Cash Per Share | 0.16 | 0.15 | 0.01 | -0.21 | -0.20 | -0.53 |
| Filing Date Shares Outstanding | 94.78M | 94.61M | 80.39M | 53.03M | 42.26M | 19.96M |
| Total Common Shares Outstanding | 94.70M | 94.61M | 77.08M | 47.67M | 41.70M | 19.96M |
| Working Capital | 19.79M | 19.05M | 9.07M | 1.52M | 2.91M | 3.11M |
| Book Value Per Share | 0.38 | 0.38 | 0.26 | 0.27 | 0.42 | 0.77 |
| Tangible Book Value | 20.44M | 19.70M | 2.71M | -6.74M | -4.64M | -6.34M |
| Tangible Book Value Per Share | 0.22 | 0.21 | 0.04 | -0.14 | -0.11 | -0.32 |
| Machinery | 483.52K | 456.30K | 348.45K | 345.14K | 174.31K | 92.72K |
| Leasehold Improvements | 192.96K | 192.96K | 192.96K | 192.96K | 83.27K | 75.27K |
| Order Backlog | 258.19M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -2.28M | -2.40M | -9.98M | -17.80M | -14.91M | -7.55M |
| Depreciation & Amortization | 1.40M | 1.50M | 2.22M | 2.53M | 2.03M | 1.89M |
| Loss (Gain) From Sale of Assets | -39.23K | -303.00 | ||||
| Asset Writedown & Restructuring Costs | 6.92M | |||||
| Loss (Gain) From Sale of Investments | -38.85K | |||||
| Stock-Based Compensation | 2.18M | 2.48M | 5.43M | 7.50M | 8.80M | 6.92M |
| Other Operating Activities | -207.00K | -345.09K | 2.12M | -250.31K | 3.89M | -1.09M |
| Change in Accounts Receivable | 2.48M | -2.92M | 927.09K | -240.19K | 968.07K | -2.03M |
| Change in Accounts Payable | -736.60K | 128.34K | 861.37K | -807.79K | 537.66K | 594.72K |
| Change in Other Net Operating Assets | -137.26K | -388.64K | -417.12K | -109.65K | -321.59K | -42.38K |
| Operating Cash Flow | 2.69M | -1.95M | 1.12M | -2.26M | 990.16K | -1.35M |
| Capital Expenditures | -81.74K | -151.74K | -3.32K | -18.27K | -89.28K | -10.22K |
| Cash Acquisitions | -422.71K | -250.00K | 453.48K | |||
| Divestitures | 159.01K | 92.22K | 279.21K | |||
| Investment in Securities | -100.25K | -100.25K | -54.53K | 365.57K | ||
| Investing Cash Flow | -22.97K | -159.77K | 221.36K | -440.99K | -339.28K | 808.83K |
| Short-Term Debt Issued | 1.37M | 325.00K | 300.00K | |||
| Long-Term Debt Issued | 1.20M | 1.47M | ||||
| Total Debt Issued | 1.37M | 1.52M | 1.77M | |||
| Short-Term Debt Repaid | -2.00M | |||||
| Long-Term Debt Repaid | -8.00M | -3.43M | -1.64M | -1.86M | -493.88K | |
| Total Debt Repaid | -4.40M | -10.00M | -3.43M | -1.64M | -1.86M | -493.88K |
| Net Debt Issued (Repaid) | -4.40M | -10.00M | -2.06M | -117.47K | -94.14K | -493.88K |
| Issuance of Common Stock | 3.62M | 14.63M | 7.22M | 126.00K | 2.01M | 653.00K |
| Preferred Dividends Paid | -107.28K | -107.44K | -119.28K | -118.15K | -100.52K | -12.29K |
| Dividends Paid | -107.28K | -107.44K | -119.28K | -118.15K | -100.52K | -12.29K |
| Other Financing Activities | 351.79K | 218.95K | 4.04M | 5.00K | -471.00K | |
| Financing Cash Flow | -532.71K | 4.74M | 9.08M | -104.62K | 1.97M | 146.84K |
| Net Cash Flow | 2.14M | 2.63M | 10.42M | -2.81M | 2.62M | -394.47K |
| Free Cash Flow | 2.61M | -2.10M | 1.12M | -2.28M | 900.88K | -1.36M |
| Free Cash Flow Margin | 4.71% | -3.97% | 2.50% | -5.04% | 2.14% | -5.43% |
| Free Cash Flow Per Share | 0.03 | -0.02 | 0.02 | -0.05 | 0.03 | -0.07 |
| Levered Free Cash Flow | 2.83M | -1.95M | 4.38M | -364.89K | 4.23M | 382.18K |
| Unlevered Free Cash Flow | 2.83M | -1.95M | 5.11M | 1.67M | 6.72M | 1.96M |
| Cash Interest Paid | 101.15K | 425.79K | 794.36K | 994.45K | 912.97K | 688.93K |
| Cash Income Tax Paid | 145.99K | 188.50K | 47.31K | 72.48K | 467.91K | 168.10K |
| Change in Working Capital | 1.60M | -3.18M | 1.37M | -1.16M | 1.18M | -1.48M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 45.97M | 85.45M | 139.88M | 14.21M | 52.34M | 65.84M |
| Enterprise Value | 30.06M | 70.94M | 148.51M | 24.75M | 60.42M | 66.42M |
| Last Close Price | 0.48 | 0.90 | 2.00 | 0.30 | 1.26 | 3.30 |
| PS Ratio | 0.83 | 1.62 | 3.12 | 0.31 | 1.24 | 2.63 |
| PB Ratio | 1.28 | 2.39 | 6.93 | 1.10 | 2.98 | 4.30 |
| P/TBV Ratio | 2.25 | 4.34 | 51.60 | |||
| P/FCF Ratio | 17.62 | 125.25 | 58.10 | |||
| P/OCF Ratio | 17.08 | 124.88 | 52.86 | |||
| EV/Sales Ratio | 0.54 | 1.34 | 3.32 | 0.55 | 1.43 | 2.65 |
| EV/FCF Ratio | 11.52 | 132.98 | 67.07 | |||
| Debt / Equity Ratio | 0.03 | 0.03 | 0.57 | 0.92 | 0.58 | 0.77 |
| Debt / FCF Ratio | 0.37 | 10.29 | 11.22 | |||
| Net Debt / Equity Ratio | -0.44 | -0.38 | -0.03 | 0.78 | 0.31 | 0.63 |
| Net Debt / EBITDA Ratio | 11.88 | 10.38 | 0.10 | -1.39 | -0.74 | -1.66 |
| Net Debt / FCF Ratio | -6.10 | 6.51 | -0.46 | -4.44 | 6.07 | -7.14 |
| Asset Turnover | 1.30 | 1.33 | 1.32 | 1.43 | 1.32 | 1.21 |
| Quick Ratio | 4.51 | 4.23 | 1.81 | 1.11 | 1.30 | 1.57 |
| Current Ratio | 4.71 | 4.40 | 1.92 | 1.19 | 1.38 | 1.61 |
| Return on Equity (ROE) | -6.75% | -8.58% | -60.25% | -116.80% | -90.75% | -84.17% |
| Return on Assets (ROA) | -4.01% | -4.41% | -13.33% | -19.48% | -18.44% | -23.34% |
| Return on Capital Employed (ROCE) | -7.50% | -7.80% | -25.90% | -44.50% | -37.20% | -30.10% |
| Earnings Yield | -5.01% | -2.81% | -7.13% | -125.30% | -28.48% | -11.46% |
| FCF Yield | 5.68% | -2.46% | 0.80% | -16.07% | 1.72% | -2.07% |
| Buyback Yield / Dilution | -40.62% | -68.14% | -17.19% | -71.75% | -50.43% | -12.37% |