Castellum, Inc. Reports 2024 Financial Performance Insights

Author: Ryan Hughes Updated: 02-28-2025 06:57 AM

2024 Financial Performance Overview of Castellum, Inc.

Castellum, Inc. (NYSE-American: CTM), a leader in cybersecurity and electronic warfare services, has recently disclosed its financial performance for the year ending December 31, 2024. With a keen focus on governmental clientele, the results showcase unique facets of the company's growth trajectory.

Revenue Insights for 2024

In 2024, Castellum achieved revenues totaling $44.8 million, a slight decrease from $45.2 million in the previous year. Despite the drop in revenue, the company made significant operational improvements resulting in a reduced operating loss of ($7.2 million) compared to ($16.7 million) in 2023. This change is noteworthy given the previous year's figures were adversely impacted by $6.9 million in non-cash goodwill impairment charges.

Adjusted EBITDA Highlights

A crucial aspect of Castellum's financial health is the Adjusted EBITDA, which the management views as an important indicator of operating performance. For 2024, the company reported an Adjusted EBITDA of $0.8 million, a positive shift from $0.2 million in 2023. This figure reflects operations free from non-cash charges, including stock-based compensation and depreciation, totaling $5.4 million and $2.2 million, respectively.

Cash Flow and Debt Management

Cash flow from operating activities also showed a strong turnaround, generating $1.1 million in 2024 compared to an outflow of ($2.3 million) in 2023. On December 31, 2024, Castellum reported a total cash position of $12.3 million, a substantial rise from just $1.8 million the previous year. The company's debt also saw a decrease, landing at $10.7 million in 2024 compared to $12.4 million in 2023, indicative of prudent financial management in challenging times.

Strategic Comments from Leadership

President and CEO Glen Ives expressed optimism regarding Castellum's advancements since he took the helm in July 2024. He emphasized the company's solid revenue performance and gross profit as indicators of successful initiatives. Looking ahead, he is confident that 2025 will usher in greater growth opportunities, driven by new contract acquisitions and enhancements in existing projects.

Future Growth Potential

The financial report underscores Castellum's strategic positioning for future success. The combination of reduced debt, increased cash reserves, and recent contract awards under the IDIQ (Indefinite Delivery Indefinite Quantity) framework positions the company favorably for growth in the upcoming year. This groundwork lays a strong foundation for embarking on initiatives that can expand market reach and operational capabilities.

Contact Information

For further inquiries, Castellum, Inc. can be reached as follows:

Glen Ives
President and CEO
Phone: (703) 752-6157
Email: info@castellumus.com

Frequently Asked Questions

What financial highlights did Castellum, Inc. report for 2024?

Castellum reported $44.8 million in revenue, a decreased operational loss of ($7.2 million), and an Adjusted EBITDA of $0.8 million.

How did Castellum's cash flow perform in 2024?

The company generated $1.1 million in cash flow from operations, a significant improvement from the ($2.3 million) outflow reported in 2023.

What strategies does Castellum intend to pursue for growth in 2025?

The focus for 2025 includes capitalizing on new contract wins and enhancing execution on existing contracts to drive revenue growth.

Who is the current CEO of Castellum, Inc.?

Glen Ives is the President and Chief Executive Officer of Castellum, Inc.

How can investors or stakeholders contact Castellum?

They can reach out via phone at (703) 752-6157 or via email at info@castellumus.com.

About The Author

Hello, my name is Ryan Hughes. I am a financial, economics, and stock market specialist committed to assisting people in negotiating the intricacies of the financial system. Having a great deal of experience and a thorough grasp of market dynamics and economic trends, my area of expertise is converting complex financial ideas into understandable, practical knowledge. By use of my articles and blog entries, I hope to give you the information and assurance you need to make wise financial choices.

I've had the honor of interacting with a wide range of readers as a writer for several financial blogs, from new investors to seasoned market participants. To enable you to reach your financial goals, I want to make finance, economics, and stock market trends understandable and approachable. I appreciate you traveling with me toward success and financial literacy.

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