Filing Flows › Castellum (CTM) › Q2 2025
Castellum (CTM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Castellum (CTM) reported revenue of $14.0M for the second quarter 2025 (Q2 2025), +22% from a year earlier and +20% from the quarter before. Operating margin was -2.7%, net loss $322K (2.3% of revenue).
Castellum, Q2 2025: revenue $14.0M (+22% year over year), operating margin -2.7%, net loss $322K, operating cash flow $214K. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.0M | +20% | +22% |
| Operating profit | −$384K | — | — |
| Net earnings | −$322K | — | — |
| Operating cash flow | $214K | — | -71% |
| Free cash flow | $117K | — | -84% |
What changed
Revenue was $14.0M in Q2 2025, up 22% year over year and up 20% from the previous quarter.
Gross margin was 36.1%, down 4.5 points from a year earlier. Operating costs exceeded revenue by $384K, an operating margin of -2.7%. Operating expenses fell 13% while revenue rose 22%. The quarter ended with a net loss of $322K, narrower than the previous quarter's $1.2M loss.
Operating cash flow was $214K (down 71% year over year). Non-cash charges added back $372K of depreciation and amortization and $640K of share-based compensation. Working capital and other items used $476K. Capital expenditures of $97K left free cash flow of $117K.
Questions
What was Castellum's revenue in the second quarter 2025?
Castellum (CTM) reported revenue of $14.0M for the second quarter 2025 (Q2 2025), +22% from a year earlier and +20% from the quarter before.
Was Castellum profitable in the second quarter 2025?
Operating loss was $384K (-2.7% of revenue) and net loss $322K.
Source: Castellum 10-Q on SEC EDGAR.