Filing Flows › Castellum (CTM) › Q4 2025
Castellum (CTM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
Castellum (CTM) reported revenue of $12.6M for the fourth quarter 2025 (Q4 2025), +22% from a year earlier and -14% from the quarter before. Operating margin was -11.1%, net loss $1.3M (10.5% of revenue).
Castellum, Q4 2025: revenue $12.6M (+22% year over year), operating margin -11.1%, net loss $1.3M, operating cash flow −$662K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.6M | -14% | +22% |
| Operating profit | −$1.4M | -412% | — |
| Net earnings | −$1.3M | -418% | — |
| Operating cash flow | −$662K | -166% | — |
What changed
Revenue was $12.6M in Q4 2025, up 22% year over year and down 14% from the previous quarter.
Gross margin was 33.9%, down 6.0 points from a year earlier. Operating costs exceeded revenue by $1.4M, an operating margin of -11.1%. Operating expenses fell 1% while revenue rose 22%. The fastest-growing cost line was Other operating costs (+25%). The quarter ended with a net loss of $1.3M, after a profit of $415K the previous quarter.
Operating cash flow was −$662K. Non-cash charges added back $374K of depreciation and amortization and $372K of share-based compensation. Working capital and other items used $87K. Capital expenditures of $10K exceeded it, leaving free cash flow of −$671K.
Questions
What was Castellum's revenue in the fourth quarter 2025?
Castellum (CTM) reported revenue of $12.6M for the fourth quarter 2025 (Q4 2025), +22% from a year earlier and -14% from the quarter before.
Was Castellum profitable in the fourth quarter 2025?
Operating loss was $1.4M (-11.1% of revenue) and net loss $1.3M.
Source: Castellum 10-K on SEC EDGAR.