Applied Aerospace & Defense reported record second-quarter revenue of $167.3 million, up 47.4% year over year, driven by growth across all three core end markets and contributions from the CBI acquisition. Pro forma revenue growth was 21.3%, and adjusted EBITDA rose 38.5% to $36.4 million. The company posted a net loss of $154.0 million, primarily due to $110 million in share-based compensation from accelerated vesting of equity units at the IPO and other transaction costs. Contract backlog reached a record $1.13 billion, up from $871 million at the end of the prior fiscal year, providing visibility into 2027 and 2028. Full-year 2026 revenue guidance is $670 million to $690 million, with adjusted EBITDA expected between $150 million and $155 million.
Applied Aerospace & Defense, Inc.Record revenue, EBITDA growth, and raised backlog indicate strong financial performance.