Castellum, Inc. Announces 2024 Unaudited Financial Results

Core Insights - Castellum, Inc. reported a slight decline in revenue for 2024, totaling $44.8 million compared to$45.2 million in 2023, while operating loss improved to ($7.2 million) from ($16.7 million) in the previous year [2][4] - The company achieved an Adjusted EBITDA of $0.8 million for 2024, a significant increase from$0.2 million in 2023, indicating improved operational performance [3][10] - Cash flow from operating activities turned positive at $1.1 million in 2024, compared to a negative cash flow of ($2.3 million) in 2023, reflecting better cash management [3][4] Financial Performance - Total cash as of December 31, 2024, was $12.3 million, a substantial increase from$1.8 million at the end of 2023, while total debt decreased to $10.7 million from$12.4 million [4][6] - Gross profit for 2024 was reported at $18.3 million, slightly down from$18.7 million in 2023, indicating stable gross margins despite revenue decline [13] Management Commentary - The CEO expressed optimism about the company's progress in 2024 and highlighted expectations for growth in 2025 due to new contract wins and improved execution on existing contracts [6] - The management emphasized the positive impact of reduced debt and increased cash on the company's positioning for future growth [6]