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Castellum (CTM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Castellum (CTM) Q3 2026 earnings results →
Q3 2026 Revenue up 1% year over year to $14.7M · 3¢ of every $1 of revenue lost · operating margin -3.8%
Castellum made $14.7M in Q3 2026 (+0.6% Y/Y). Operating margin -3.8%, net loss $454K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $14.7M in Q3 2026, up 1% year over year and up 6% from the previous quarter.
Gross margin was 36.1%, down 1.5 points from Q3 2025. Operating costs exceeded revenue by $564K, an operating margin of -3.8%. Operating expenses grew 16% against revenue growth of 1%. The fastest-growing cost line was General & admin (+20%). The quarter ended with a net loss of $454K, narrower than the previous quarter's $1.0M loss. Non-operating items added $107K, -23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.3M. Non-cash charges added back $323K of depreciation and amortization and $829K of share-based compensation. Working capital and other items used $2.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $14.7M | +0.6% | -3.8% | −$454K | −$1.3M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $13.9M | -1% | -7.9% | −$1.0M | $1.1M |
| Q1 2026 | 10-Q | May 8, 2026 | $14.3M | +22% | -4.9% | −$351K | $1.3M |
| Q4 2025 | 10-K | Mar 9, 2026 | $12.6M | +22% | -11.1% | −$1.3M | −$662K |
| Q3 2025 | 10-Q | Nov 7, 2025 | $14.6M | +26% | 3.0% | $415K | $1.0M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $14.0M | +22% | -2.7% | −$322K | $214K |
| Q1 2025 | 10-Q | May 9, 2025 | $11.7M | +3% | -12.7% | −$1.2M | −$2.5M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Castellum
Castellum is focused on building a large, successful technology services, solutions, and products company in the areas of cybersecurity, IT, electronic warfare, information warfare, system modernization, and information operations with businesses in the defense, federal, civilian, and commercial markets. Services include intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity and policy support, data analytics, and model based systems engineering (“MBSE”). These services are applicable to customers in the United States (“U.S.”) government (“USG”), financial services, legal, and other users of large data applications. They can be delivered to on-premises enclaves or customers who rely upon cloud-based infrastructures.
In its own words, from its 10-K, filed Mar 9, 2026.
Castellum against its Services-Management Consulting Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.6% against the peers' median +6%. Operating margin: -3.8% against the peers' median 8.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CTM Castellum | Q3 2026 | $14.7M | +0.6% | -3.8% |
| BAH Booz Allen Hamilton Holding | Q2 FY27 | $2.8B | -4% | 8.8% |
| G Genpact | Q3 2026 | $1.4B | +7% | 15.2% |
| ASTH Astrana Health | Q3 2026 | $1.0B | +7% | 3.9% |
| FCN FTI Consulting | Q3 2026 | $1.0B | +6% | 8.9% |
| HURN Huron Consulting Group | Q3 2026 | $491M | +11% | 12.0% |
| ICFI ICF International | Q3 2026 | $470M | +1% | 9.3% |
| ONT Onterris | Q3 2026 | $203M | -10% | 6.0% |
| EXPO Exponent | Q3 2026 | $174M | +18% | 24.1% |
Source: Castellum 10-Q on SEC EDGAR · CIK 1877939 · Services-Management Consulting Services
Guidance and outlook
13F: who owns CTM and who is buying
More on CTM
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results