Filing Flows › Karman Holdings (KRMN) › Q3 2026 › vs Q2 2026
Karman Holdings (KRMN) Q3 2026 vs Q2 2026 (quarter over quarter)
Karman Holdings's revenue rose $19.6M (+11%) from $182M in Q2 2026 to $202M in Q3 2026. The biggest changes: Maritime Defense Systems +$11.5M (+34%); Hypersonic and Strategic Missile Defense +$7.7M (+18%); Tactical Missile and Integrated Defense Systems +$4.6M (+7%). Gross margin 42.7% against 43.0% (-0.2 pts).
Karman Holdings, Q3 2026: revenue $202M (+66% year over year), operating margin 15.7%, net earnings $20.9M, operating cash flow $26.7M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 42.7% | 43.0% | -0.2 pts |
| Operating margin | 15.7% | 19.1% | -3.4 pts |
| Net margin | 10.4% | 7.7% | +2.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Tactical Missile and Integrated Defense Systems | $67.6M | $63.0M | $4.6M | +7% |
| Hypersonic and Strategic Missile Defense | $51.1M | $43.4M | $7.7M | +18% |
| Maritime Defense Systems | $45.0M | $33.6M | $11.5M | +34% |
| Space and Launch | $37.9M | $42.1M | −$4.2M | -10% |
| Revenue | $202M | $182M | $19.6M | +11% |
| Gross profit | $86.2M | $78.2M | $7.9M | +10% |
| Cost of revenue | $115M | $104M | $11.6M | +11% |
| Operating profit | $31.8M | $34.8M | −$3.1M | -9% |
| Operating expenses | $54.4M | $43.4M | $11.0M | +25% |
| Pre-tax earnings | $13.3M | $19.3M | −$6.0M | -31% |
| Other expense, net | $18.4M | $15.6M | $2.9M | +19% |
| General & admin | $41.5M | $31.3M | $10.2M | +32% |
| Other operating costs | $12.9M | $12.1M | $827K | +7% |
| Income tax benefit | $7.6M | −$5.2M | $12.8M | — |
| Net earnings | $20.9M | $14.0M | $6.9M | +49% |
| Depreciation & amortization | $16.5M | $15.2M | $1.3M | +9% |
| Share-based compensation | $1.9M | $1.4M | $463K | +32% |
| Working capital & other | $12.6M | $33.8M | −$21.2M | -63% |
| Operating cash flow | $26.7M | −$3.2M | $29.9M | — |
Questions
How much did Karman Holdings's revenue grow quarter over quarter in Q3 2026?
Karman Holdings's revenue rose $19.6M (+11%) from $182M in Q2 2026 to $202M in Q3 2026.
What drove Karman Holdings's revenue change in Q3 2026?
Maritime Defense Systems +$11.5M (+34%); Hypersonic and Strategic Missile Defense +$7.7M (+18%); Tactical Missile and Integrated Defense Systems +$4.6M (+7%).