VIENNA, Va., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) ("Castellum"), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announces that teaming with its protégé Epic Systems, Inc. ("Epic"), a new $4.1 million contract award with the National Science Foundation ("NSF") supporting NSF's Administrative Services Help Desk was awarded to Epic. Castellum's subsidiary, Corvus Consulting, LLC, will have a 49% work share on ...

VIENNA, Va., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) ("Company") ("Castellum"), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces Andrew ("Drew") Merriman's promotion to Chief Operating Officer ("COO"), effective September 1, 2024. Mr. Merriman fills Castellum's vacancy created by Glen Ives' promotion to Chief Executive Officer ("CEO") on July 1, 2024. "Drew is an exceptionally talented executive with deep technica ...

VIENNA, Va., Aug. 09, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. ("Castellum" or the "Company") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces highlights of its operating results for its second quarter ended June 30, 2024. Revenue for the second quarter of 2024 was $11.5 million, up sequentially from $11.3 million during the first quarter of 2024. Gross profit was $4.7 million compared to $4.5 million during the first quart ...

Group 1 - Castellum announced a strategic alliance with Krilla Kaleiwahea, enhancing its capabilities in securing government contracts [1][2] - The collaboration is expected to generate contracts worth up to $100 million, leveraging Krilla Kaleiwahea's status as a Native Hawaiian government contractor [2] - Castellum's stock experienced significant volatility, initially rising by 40% in pre-market trading before declining by 4.7% after the market opened [3][4] Group 2 - The alliance aims to pursue a wide range of government contracts across the Department of Defense and civilian federal government [3] - Castellum's trading volume on the day of the announcement exceeded 53 million shares, compared to its daily average of approximately 137,000 shares [4]

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 ...