KRMN
Karman Holdings Inc.67.19
-0.87-1.28%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
8.89BP/E (TTM)
839.88Basic EPS (TTM)
0.08Dividend Yield
0%Recent Filings
8-K
8-K
Karman acquires Five Axis for $83M
Karman Holdings secured a $130 million incremental term loan on October 24, 2025, to fund its $83 million cash acquisition of Five Axis Industries, closing October 28, 2025, for advanced engine subsystems in space programs. This vertical integration bolsters Karman's propulsion capabilities with proprietary nozzle tech, immediately boosting revenue, EBITDA margins, and cash flow. Yet integration risks loom amid defense budget dependencies.
10-Q
Q2 FY2025 results
Karman Holdings posted solid Q2 results, with revenue jumping 35.3% year-over-year to $115.1 million, fueled by organic growth across all segments—tactical missiles up 45.9%, space and launch 38.9%, and hypersonics 21.6%. Gross margin held steady at 40.9%, while operating income rose 10.0% to $20.1 million despite higher G&A from public company costs and integrations; net income climbed 47.8% to $6.8 million, or $0.05 diluted EPS on 132,322 thousand shares. Acquisitions of MTI in April for $82.3 million cash (recognizing $44.2 million goodwill and $30.7 million finite-lived intangibles over 11.0 years) and ISP in May for $58.6 million (cash/stock with $5.0 million earnout, $32.5 million goodwill, $21.4 million intangibles over 10.7 years) bolstered capabilities in materials and propulsion. Cash ended at $27.4 million after $31.0 million operating outflow; total debt stood at $478.3 million under new Citi facilities (term loan at 8.65%, $50 million revolver with $20 million available, springing covenant at 6.50x leverage). Free cash flow not disclosed in the 10-Q. Yet regulatory shifts in government spending pose risks.
8-K
Record Q2 revenue surges 35%
Karman Space & Defense posted record Q2 revenue of $115.1 million, surging 35.3% year over year, fueled by double-digit gains across hypersonics, space launch, and tactical missiles segments. Net income hit $6.8 million, up 47.8%, while adjusted EBITDA reached $35.3 million, climbing 28.7%. Backlog swelled to $719.3 million. The company raised full-year guidance to $452–$458 million in revenue and $138.5–$141.5 million adjusted EBITDA, yet integration of recent acquisitions poses risks.
8-K
Upsized stock offering priced
Karman Holdings Inc. priced its upsized public offering of 21 million shares of common stock at $49.00 per share on July 23, 2025, with shares sold solely by existing stockholders. The underwriters fully exercised their option for an additional 3.15 million shares, closing the deal on July 25. Karman receives no proceeds. Selling stockholders cash out amid lock-up restrictions.
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