The strategic alliance leverages Castellum's deep experience, and through its subsidiaries, many decades of serving the U.S. Government, with K2's experienced leadership team as well as its eligibility status as a Native Hawaiian government contractor, the relationship enables for set-aside department of defense ("DOD") work of up to $100 million. "Castellum is an ideal partner for us as we look to expand our capabilities and reach into the U.S. government," said Peter Krilla, Co-Founder of K2. "Castellum h ...

Core Viewpoint - Castellum, Inc. has announced a strategic alliance with Krilla Kaleiwahea, LLC (K2), which will enhance their capabilities to pursue government contracts, particularly within the Department of Defense (DOD) and civilian federal government [2][5]. Company Overview - Castellum, Inc. is a cybersecurity, electronic warfare, and software engineering services company focused on serving the federal government [9]. - K2 is a Native Hawaiian Organization with a team experienced in government, military, and corporate sectors, dedicated to impactful government projects globally [1]. Strategic Alliance Details - The alliance will leverage Castellum's extensive experience in serving the U.S. Government and K2's leadership and Native Hawaiian contractor status, allowing them to pursue DOD work set-asides of up to $100 million [10]. - Glen Ives, President and CEO of Castellum, expressed enthusiasm about the partnership, highlighting the potential for joint government contract opportunities [2][6]. Leadership Statements - Peter Krilla, Co-Founder of K2, emphasized Castellum's strong past performance as a key factor in their ability to secure substantial new opportunities through this alliance [6].

Dear Fellow Shareholders: VIENNA, Va., July 17, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (the "Company" or "Castellum") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, releases this letter to shareholders from Chief Executive Officer ("CEO"), Glen Ives. This letter represents my first formal communication with you since I was appointed CEO by the Board of our Company earlier this month. I am greatly honored by the appointment and fe ...

Core Viewpoint - Castellum, Inc. aims for significant organic growth and improved financial health under the leadership of newly appointed CEO Glen Ives, targeting a 25% growth over the next two years and a return to selective acquisitions as the balance sheet strengthens [3][7][8]. Company Overview - Castellum, Inc. is a cybersecurity, electronic warfare, and software services company focused on serving the federal government [3][12]. - The company currently employs 254 individuals and has established strong relationships with government customers, which are crucial for national security [6]. Leadership Background - Glen Ives, the new CEO, has a 34-year Navy career and extensive experience in government contracting, having previously served as President of Sabre Systems [5][4]. - Ives emphasizes the importance of teamwork and commitment to building a winning culture within Castellum [10][11]. Growth Strategy - The company plans to achieve a minimum of 25% organic growth over the next two years, aiming for annualized revenue of over $56 million by mid-2026 and $63 million by mid-2027 [7]. - Castellum seeks to reach $5 million in adjusted EBITDA and positive net income during this period [7]. Financial Management - Castellum has recently retired its Live Oak Banking Company term loan and plans to pay off a $2.4 million note by August 2026, aiming to reduce overall debt [8]. - The goal is to lower debt to below 15% of revenue and maintain a ratio of 2.5x adjusted EBITDA, which could be achieved within a year with growth and debt reduction [8]. Shareholder Communication - The CEO acknowledges past stock performance issues but expresses confidence that executing the growth plan will lead to improved results for shareholders in the coming months [9].

Castellum's total outstanding debt has been reduced to $10.3 million and is expected to continue to decrease as, starting in September 2024, the Company will begin making monthly principal payments on the Buckhout Charitable Trust promissory note. This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forwardlooking statements represent the Company's expectations o ...

"We are pleased to make this early payoff to Live Oak Bank of our term loan," said Glen Ives, Castellum's CEO. "This step reduces our future interest expense and frees up resources for growth," he added. Contact: info@castellumus.com Glen R. Ives, Chief Executive Officer (703) 752-6157 Castellum, Inc. is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government - http://castellumus.com. Castellum's total outstanding debt has been reduced to $10.3 millio ...

VIENNA, Va., June 06, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (the "Company" or "Castellum") (NYSE-American: CTM) ($CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces that it has made its 34th consecutive monthly term loan payment to Live Oak Banking Company ("Live Oak"). Castellum has two remaining payments on an original 36-month term loan, taken out to support an August 2021 acquisition. Castellum's total outstanding debt has been reduce ...

Core Points - Castellum, Inc. has successfully reduced its total outstanding debt to $10.6 million and aims to lower it below $10 million by year-end through scheduled principal payments [1][3] - The company has made its 34th consecutive monthly term loan payment to Live Oak Banking Company, with two payments remaining on the original 36-month term loan taken for an acquisition in August 2021 [3][4] - Glen Ives, the incoming CEO, emphasized that deleveraging the balance sheet will provide more resources for supporting mission customers, employee development, and organic growth, ultimately benefiting shareholders [4] Company Overview - Castellum, Inc. operates in the cybersecurity, electronic warfare, and software engineering services sectors, primarily focusing on the federal government [2][5]

Core Viewpoint - Castellum, Inc. announces leadership changes with Mark Fuller stepping down as CEO effective July 1, 2024, and Glen Ives being appointed as the new CEO [1][2] Group 1: Leadership Changes - Mark Fuller, co-founder and current CEO, will resign to pursue other interests [1] - Glen Ives, the current Chief Operating Officer, will take over as CEO on July 1, 2024 [1][2] - The Board expresses gratitude for Mark Fuller's contributions in building the company to a $45 million entity [2] Group 2: Future Outlook - Glen Ives aims to enhance organic revenue growth and profitability while considering selective acquisitions [2] - Mark Fuller expresses confidence in Glen Ives' leadership skills and ability to build on the company's foundation [2] - Glen Ives looks forward to expanding Castellum's presence in the government services market [2]

Core Viewpoint - Castellum, Inc. announces leadership changes with Mark Fuller stepping down as CEO effective July 1, 2024, and Glen Ives, the current COO, taking over the role [1][2]. Group 1: Leadership Changes - Mark Fuller, co-founder and CEO of Castellum, will resign to pursue other interests after five years of service [1][2]. - Glen Ives, currently the Chief Operating Officer, will assume the CEO position on July 1, 2024 [1][2]. Group 2: Company Performance and Future Outlook - Under Mark Fuller’s leadership, Castellum grew to a $45 million company with strong capabilities in cybersecurity, electronic warfare, and software services [2]. - The Board expresses confidence in Glen Ives to lead the company towards increased organic revenue growth and improved profitability while pursuing selective acquisitions [2].