Castellum Generates Record Quarterly Revenue; Higher Cash Balance
July 31 2023 - 5:45AM
Castellum, Inc. (“Castellum” or the “Company”) (NYSE-American:
CTM), a cybersecurity and electronic warfare services company
focused on the federal government, is pleased to announce that its
revenue for the second quarter of 2023 was a record.
“We produced over $12.44 million in unaudited
revenue for the second quarter, a record,” said Mark Fuller,
President and CEO of Castellum. “That amount represents a 25%
increase over our Q1 revenue, due largely to having the benefit of
our GTMR acquisition for the entire quarter. Importantly, our
unaudited cash balance at the end of Q2 was $2.97 million, up a bit
more than 30% from $2.27 million at the end of Q1, despite retiring
over $300,000 of bank debt during the quarter.”
Castellum’s full quarterly results will be
disclosed in its Form 10-Q which the Company expects to file with
the SEC on or about August 14, 2023.
About Castellum,
Inc.
Castellum, Inc. is a cybersecurity and
electronic warfare services company focused on the federal
government - http://castellumus.com/.
Cautionary Statement Concerning Forward-Looking
Statements
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 forward-looking statements represent the Company’s
expectations or beliefs concerning future events and can generally
be identified by the use of statements that include words such as
“estimate,” “project,” “believe,” “anticipate,” “shooting to,”
“intend,” “plan,” “foresee,” “likely,” “will,” “would,” “appears,”
“goal,” “target” or similar words or phrases. Forward-looking
statements include, but are not limited to, statements regarding
the Company’s expectations for revenue growth and new customer
opportunities, improvements to cost structure, and profitability.
These forward-looking statements are subject to risks,
uncertainties, and other factors, many of which are outside of the
Company’s control, that could cause actual results to differ
materially from the results expressed or implied in the
forward-looking statements, including, among others: the Company’s
ability to compete against new and existing competitors; its
ability to effectively integrate and grow its acquired companies;
its ability to identify additional acquisition targets and close
additional acquisitions; the impact on the Company’s revenue due to
a delay in the U.S. Congress approving a federal budget; and the
Company’s ability to maintain the listing of its common stock on
the NYSE American LLC. For a more detailed description of these and
other risk factors, please refer to the Company’s Annual Report on
Form 10-K and its Quarterly Reports on Form 10-Q and other filings
with the Securities and Exchange Commission (“SEC”) which can be
viewed at www.sec.gov. All forward-looking statements are
inherently uncertain, based on current expectations and assumptions
concerning future events or future performance of the Company.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which are only predictions and speak
only as of the date hereof. The Company expressly disclaims any
intent or obligation to update any of the forward-looking
statements made in this release or in any of its SEC filings except
as may be otherwise stated by the Company.
Contact: Mark Fuller, President and CEO Phone:
(301) 961-4895 Contact: Info@castellumus.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0ebdc2a6-2d9a-47a0-b02f-89c6772e17e1
Castellum (AMEX:CTM)
Historical Stock Chart
From May 2024 to Jun 2024
Castellum (AMEX:CTM)
Historical Stock Chart
From Jun 2023 to Jun 2024