Filing Flows › Castellum (CTM) › Q1 2026
Castellum (CTM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Castellum (CTM) reported revenue of $14.3M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +14% from the quarter before. Operating margin was -4.9%, net loss $351K (2.5% of revenue).
Castellum, Q1 2026: revenue $14.3M (+22% year over year), operating margin -4.9%, net loss $351K, operating cash flow $1.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.3M | +14% | +23% |
| Operating profit | −$698K | — | — |
| Net earnings | −$351K | — | — |
| Operating cash flow | $1.3M | — | — |
| Free cash flow | $1.3M | — | — |
What changed
Revenue was $14.3M in Q1 2026, up 23% year over year and up 14% from the previous quarter.
Gross margin was 35.4%, down 3.6 points from Q1 2025. Operating costs exceeded revenue by $698K, an operating margin of -4.9%. Operating expenses fell 5% while revenue rose 23%. The quarter ended with a net loss of $351K, narrower than the previous quarter's $1.3M loss. Non-operating items added $353K, -103% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.3M. Non-cash charges added back $325K of depreciation and amortization and $768K of share-based compensation. Working capital and other items added $549K. Capital expenditures of $10K left free cash flow of $1.3M.
Questions
What was Castellum's revenue in the first quarter 2026?
Castellum (CTM) reported revenue of $14.3M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +14% from the quarter before.
Was Castellum profitable in the first quarter 2026?
Operating loss was $698K (-4.9% of revenue) and net loss $351K.
Source: Castellum 10-Q on SEC EDGAR.