0002040127-26-000018
SEC filingKarman创纪录季度营收$182.1M、净利翻倍，积压订单$1.3B并上调全年指引，需求加速为核心驱动。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $182,063 thousand | $115,097 thousand | up 58.2% |
| Gross profit | $78,234 thousand | $47,021 thousand | — |
| Net operating income | $34,829 thousand | $20,104 thousand | — |
| Net income | $14,032 thousand | $6,807 thousand | up 106.1% |
| Net income per common share, diluted | $0.11 | $0.05 | — |
| Adjusted EBITDA | $54,580 thousand | $35,281 thousand | up 54.7% |
| Adjusted EPS | $0.14 | $0.10 | — |
| Adjusted EBITDA margin | 30.0% | 30.7% | — |
| Net income margin | 7.7% | 5.9% | — |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Revenue | $730 to $745 million | N/A |
| FY2026 | Adjusted EBITDA | $215.0 to $222.5 million | Non-GAAP |
Q2 FY2026 营收创纪录 $182.1 million，同比增 58.2%，其中有机增长 24.4%；增长来自全部终端市场，Tactical Missiles and Integrated Defense Systems 营收 $63.0 million、同比增 55.4%，为最大增量来源，Hypersonics and Strategic Missile Defense 增 24.2%，Space and Launch 增 6.3%，Maritime Defense Systems 本期 $33.6 million（去年同期未单独列示）。盈利端 GAAP 净利 $14.0 million、同比增 106.1%，摊薄 EPS $0.11；Non-GAAP 调整后 EBITDA $54.6 million、同比增 54.7%，调整后 EPS $0.14。调整后 EBITDA 利润率 30.0%，较去年同期 30.7% 小幅回落，主要受收购整合、交易相关费用及股份支付等一次性项影响（本期 transaction-related expenses $1,392 thousand、integration expenses and non-recurring restructuring costs $1,940 thousand）。
积压订单创纪录 $1.3 billion，较 FY2025 末增 65%，季度订单近 $500 million，含一项与领先 space and launch 客户的大型长期协议；管理层称正就三项长期防务协议谈判，潜在价值合计超 $1 billion。公司上调 FY2026 指引至营收 $730–745 million、调整后 EBITDA $215.0–222.5 million（不含未来收购影响），并拟以约 $94 million 收购 Walker Precision Engineering 进军欧洲防务市场，同时完成债务重定价，预计年省利息约 $4 million。CEO Jon Rambeau 强调需求环境持续走强，$1.3 billion 积压订单为 FY2026 及 2027 年提供强劲可见度。