Core Insights - Karman Space & Defense (NYSE: KRMN) experienced significant stock performance in 2025, with shares rising over 300% from an IPO price of $22 to nearly $73, although it faced a decline of around 25% from its all-time high in January 2026 [3] - The company's latest earnings report led to a nearly 14% drop in stock price, indicating market volatility despite a strong revenue growth trajectory [3][6] Financial Performance - In fiscal Q4 2025, Karman reported revenue of $134.5 million, reflecting a growth rate of just over 47%, which exceeded market estimates [4] - For the full year, Karman's revenue grew by almost 37% to $471.5 million, marking the second highest growth rate among over 20 U.S. aerospace and defense stocks with market capitalizations above $10 billion, only behind Rocket Lab's 38% growth [4][5] - The company achieved a full-year gross margin of 40% and an operating margin of 15.5%, ranking in the top five and top ten, respectively, within its peer group [5] Segment Growth - Karman's segments showed robust growth in Q4, with specific increases including: - Hypersonics & Strategic Missile Defense: +41.8% - Space and Launch: +24.6% - Tactical Missiles & Integrated Defense: +77.0% [7] Earnings Metrics - Adjusted earnings per share (EPS) nearly quadrupled year over year from 3 cents to 11 cents, while full-year adjusted EPS nearly tripled from 13 cents in 2024 to 37 cents in 2025, with the Q4 figure aligning with expectations [8]