Karman Q1 2025 revenue $100.1M (+20.6% YoY); record backlog $636.4M; reaffirms FY guidance

Karman Holdings Inc.

2025-Q1 EPS reported -$0.04 revenue$100,124,000

Q1 revenue $100.1M (+20.6% YoY); net loss $4.8M due to IPO share-based comp.
Record non-GAAP adj. EBITDA $30.3M (+24.7%); adj. EPS $0.05 (+67%).
Funded backlog $636.4M (+9.8% vs Q4); reaffirms FY revenue $423M-$433M.
All three segments grew: Hypersonics +21.1%, Space & Launch +12.0%, Tactical Missile +29.6%.
Closed $300M Term Loan B and $50M revolver to refinance debt; acquired MTI.

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