Record-Breaking Revenue and Growth
Karman Space & Defense posted record quarterly revenue of $122 million, a 42% increase compared to the third quarter of fiscal year 2024. Gross profit grew 48% to $50 million, and adjusted EBITDA rose to $38 million, marking a new quarterly record.
Increased Backlog and Strategic Acquisitions
The funded backlog continued to grow, reaching an all-time high of $758 million, providing 100% visibility to the midpoint of the full-year revenue guidance. The company also completed a $1.2 billion secondary equity offering and acquired Five Axis Industries, expanding capabilities with IP-rich content for the commercial space industry.
Guidance Raised for Fiscal Year 2025
Karman Space & Defense raised its 2025 guidance, increasing revenue expectations by $7 million at the midpoint to $461 million to $463 million, and adjusted EBITDA by $2.5 million to $142 million to $143 million.
Strong Market Demand Across End Markets
Revenue grew across all three end markets: Hypersonics and Strategic Missile Defense (36% increase), Space and Launch (47% increase), and Tactical Missiles and Integrated Defense Systems (42% increase).
Positive Outlook for Future Growth
Preliminary view of 2026 anticipates annual growth consistent with recent revenue CAGR of 20% to 25%, excluding future acquisitions.