Karman Holdings Inc. ( (KRMN) ) has released its Q1 earnings. Here is a breakdown of the information Karman Holdings Inc. presented to its investors.
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Karman Space & Defense is a prominent company specializing in the rapid design, development, and production of advanced system solutions for the space and defense sectors, including launch vehicles, satellites, and missile defense systems. In its first quarter of fiscal year 2025, Karman Space & Defense reported record quarterly revenue of $100.1 million, marking a 20.6% increase year over year, alongside a net loss of $4.8 million due to share-based compensation expenses related to its recent IPO. The company achieved a record non-GAAP adjusted EBITDA of $30.3 million, reflecting a 24.7% increase from the previous year, and reported a funded backlog of $636.4 million, up 9.8% from the prior quarter. Key financial highlights include a 21.1% revenue increase in Hypersonics and Strategic Missile Defense, a 12% rise in Space and Launch, and a 29.6% growth in Tactical Missiles and Integrated Defense Systems. The company also successfully refinanced its debt, reducing interest rates and extending maturities, and acquired MTI to enhance its capabilities and market reach. Looking ahead, Karman Space & Defense maintains a positive outlook for the fiscal year 2025, reaffirming its revenue expectations of $423 million to $433 million and adjusted EBITDA between $132 million and $137 million, supported by strong market demand and strategic initiatives.