Karman Space & Defense showcased strong financial performance with record revenue and backlog, successful strategic initiatives including an IPO and debt refinancing, and strong positioning in defense and space markets. However, there are challenges related to share-based compensation impacting net income, uncertainties in government policies, and declining revenue from the SLS program.

Company Guidance

During the Karman Space & Defense First Quarter Fiscal Year 2025 Earnings Conference Call, the company reported record quarterly revenue of $100 million and a gross profit of $39.5 million, with an adjusted EBITDA of $30 million and fully diluted adjusted earnings per share of $0.05. They achieved a record funded backlog of $636 million, increasing their revenue visibility for the full year 2025 to approximately 95% by the end of April. Year-over-year, the revenue increased by 20.6%, with notable growth in the hypersonics and strategic missile defense sector (21.1% increase), tactical missiles and integrated defense systems (29.6% increase), and space and launch sector (12% growth). The company expects a statutory tax rate of 24% and CapEx investments to represent 4% of revenue. For fiscal year 2025, Karman reaffirmed its guidance of total revenue between $423 million and $433 million, with adjusted EBITDA projected between $132 million and $137 million, representing growth rates of 24% and 27% respectively.

Record Quarterly Financial Results

Karman Space & Defense reported record quarterly revenue of $100 million, a 20.6% year-over-year increase, and gross profit of $39.5 million. Adjusted EBITDA reached $30.3 million, representing a 30% margin and a 25% year-over-year increase.

Significant Backlog and Revenue Visibility

The company achieved a record funded backlog of $636 million at the end of the first quarter and increased full-year 2025 revenue visibility to approximately 95% as of the end of April.

Strong Performance Across End Markets

Revenue in hypersonics and strategic missile defense grew by 21.1%, tactical missiles and integrated defense systems increased by 29.6%, and space and launch revenue grew by 12% year-over-year.

Successful IPO and Debt Refinancing

Karman successfully completed its IPO and refinanced its debt, reducing interest rates and extending maturities, which strengthened the balance sheet with $113.7 million in cash and cash equivalents.

Positive Demand Signals and Strategic Alignment

The company is well-positioned to benefit from increased defense spending, strong demand signals, and alignment with major space opportunities and national security priorities.

Karman Holdings Inc. (KRMN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KRMN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 14, 2026	2025 (Q4)	- / -	0.013	―	―	―
Aug 07, 2025	2025 (Q2)	0.10 / 0.10	0.035	185.71% (+0.07)
May 13, 2025	2025 (Q1)	- / -0.04	0.016	-350.00% (-0.06)
Apr 08, 2025	2024 (Q4)	0.02 / 0.05	0.036	38.89% (+0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

KRMN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$48.21	$45.78	-5.04%
May 13, 2025	$40.16	$43.37	+7.99%
Apr 08, 2025	$27.80	$30.46	+9.57%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Karman Holdings Inc. (KRMN) report earnings?

Karman Holdings Inc. (KRMN) is schdueled to report earning on Apr 14, 2026, After Close (Confirmed).

What is Karman Holdings Inc. (KRMN) earnings time?

Karman Holdings Inc. (KRMN) earnings time is at Apr 14, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

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What is KRMN EPS forecast?

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