Karman Holdings Inc. ( (KRMN) ) has released its Q4 earnings. Here is a breakdown of the information Karman Holdings Inc. presented to its investors.
Karman Holdings Inc., operating under the name Karman Space & Defense, is a prominent player in the aerospace and defense sector, specializing in the rapid design and production of advanced technologies for hypersonic, missile defense, UAV, and space systems. The company is recognized for its innovative solutions that address near-peer nation-state threats.
In its fiscal year 2024 earnings report, Karman Holdings Inc. announced record-breaking financial results, with a notable 23% increase in revenue, reaching $345.3 million. The company’s net income also saw a significant rise of 191.3%, amounting to $12.7 million. These achievements underscore Karman’s robust performance across its various market segments.
Key financial metrics highlighted in the report include a record adjusted EBITDA of $106.1 million, reflecting a 29.7% year-over-year growth. The company also reported a substantial funded backlog of $579.8 million, indicating strong future revenue visibility. Additionally, Karman successfully completed a $581.9 million IPO in early 2025, raising $173.2 million in net proceeds, and refinanced its debt to improve financial flexibility.
Strategically, Karman expanded its capabilities by acquiring MTI, aiming to enhance its design and manufacturing strengths and broaden its customer base. The company’s growth in the hypersonics, space, and missile defense sectors was driven by increased government spending and new program developments, positioning it well for continued success.
Looking ahead, Karman Holdings Inc. projects a positive outlook for 2025, with expected revenue between $423 million and $433 million. The company remains confident in its ability to achieve these targets, supported by its strong backlog and strategic initiatives to meet evolving market demands.