0001877939-26-000016
SEC filingCastellum, Inc. reported a net loss of $2.4 million for fiscal year 2025, with revenues of $52.9 million and gross profit of $19.4 million. The company generated a loss from operations of $2.8 million before other income, which included a $624K gain primarily from a $621K change in fair value of derivative liabilities. Operating cash flow was negative $1.9 million, while financing activities provided $4.7 million mainly from equity issuance of $15.3 million net of costs. The balance sheet shows total assets of $41.9 million with $14.9 million in cash, total liabilities of $6.2 million, and stockholders' equity of $35.8 million. The company's accumulated deficit increased to $56.6 million.
Castellum, Inc. reported financial results for fiscal year 2025 ending December 31, 2025. The company generated $52.9 million in revenue with cost of revenues of $33.5 million, resulting in gross profit of $19.4 million. Operating expenses totaled $22.2 million, comprising indirect costs of $9.4 million, overhead of $2.1 million, and general and administrative expenses of $10.7 million. This resulted in a loss from operations of $2.8 million. Other income of $624K, primarily from a $621K change in fair value of derivative liabilities, reduced the pre-tax loss to $2.2 million. After an income tax benefit of $208K, the company reported a net loss of $2.4 million. After preferred stock dividends of $107K, net loss to common shareholders was $2.5 million.
The filing does not provide segment breakdown, geographic mix, or specific growth drivers for revenue. The total revenue of $52.9 million represents the company's consolidated performance for fiscal year 2025. No comparative prior period revenue figure is provided in the XBRL data or document text, preventing year-over-year analysis of revenue trends or growth rates.
The company achieved a gross margin of 36.7% ($19.4M gross profit / $52.9M revenue). Operating margin was negative 5.3% (-$2.8M operating loss / $52.9M revenue). The cost structure shows operating expenses of $22.2 million, representing 42.0% of revenue. General and administrative expenses of $10.7 million were the largest component of operating expenses at 20.2% of revenue. No prior period margin data is provided for comparison.
Operating activities used $1.9 million in cash, with net loss of $2.4M adjusted for non-cash items including $1.5M depreciation/amortization, $2.5M share-based compensation, and $621K change in fair value of derivative liabilities. Investing activities used $160K primarily for $152K in fixed asset purchases and $100K investment in joint ventures, partially offset by $92K from sale of a subsidiary. Financing activities provided $4.7M mainly from $15.3M net proceeds from equity issuance, offset by $8.0M repayment of notes payable and $2.0M repayment of line of credit. The balance sheet shows total assets of $41.9M including $24.6M current assets ($14.9M cash, $8.2M accounts receivable) and $17.3M noncurrent assets ($10.7M goodwill, $5.4M intangible assets). Total liabilities are $6.2M with $5.6M current liabilities. Stockholders' equity is $35.8M with accumulated deficit of $56.6M.
The filing does not provide management guidance, strategic priorities, or specific forward-looking statements. No risk factors, growth projections, or operational targets are disclosed in the provided document content or XBRL data. The financial statements present historical results for fiscal year 2025 without commentary on future expectations or business outlook.