Castellum Inc.

Castellum reported record first-half revenue for 2026, with revenue rising 10% year over year to $28.2 million, driven by the ramp-up of three Navy prime contracts. Second-quarter revenue was essentially flat at $13.9 million, while gross margin fell to 34% from 36% and the net loss widened to $1.0 million. The company ended the quarter with $16.9 million in cash and no long-term debt, and management said it will prioritize acquisitions and organic growth over share repurchases. Castellum expects record full-year revenue, supported by a $271.7 million backlog and a $953.5 million qualified pipeline.

Castellum announced that its wholly owned subsidiary, Specialty Systems, was awarded a $4 million directed subcontract to modernize the U.S. Navy's Aircraft Data Management and Control System. The award was issued under SAIC's prime contract on the General Services Administration ASTRO development and systems integration pool. Specialty Systems will handle technical planning, software modernization, containerization, automated testing, DevSecOps integration, technical documentation, and delivery of modernization artifacts.