Castellum(US:CTM) Newsfilter·2024-05-15 10:45Core Insights - Castellum, Inc. reported a revenue of $11.3 million for Q1 2024, showing a slight increase from $11.1 million in Q4 2023 [2] - The company's gross profit for the same period was $4.5 million, down from $4.6 million in the previous quarter [2] - Operating loss for Q1 2024 was $(2.7) million, compared to $(1.5) million in Q4 2023, indicating a deterioration in operating performance [2] Financial Performance - The Non-GAAP measure, Recurring Cash Operating Profit (Loss) (RCOP), was approximately $(0.1) million for Q1 2024, which excludes non-cash charges [3] - Non-cash charges included stock-option and warrants expense of $1.7 million and depreciation and amortization of $0.6 million [3][12] - Total non-cash charges for Q1 2024 amounted to $2.5 million, leading to a Non-GAAP RCOP of $(134,361) [12] Management Commentary - The President and CEO of Castellum highlighted important financial progress in Q1 2024, particularly in strengthening the balance sheet through financing transactions [5] - The company aims to convert its large pipeline of opportunities into contract wins and improve profitability and RCOP throughout 2024 and into 2025 [5]