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Karman Holdings vs Applied Aerospace & Defense: KRMN and AADX compared
Karman Holdings is the larger company: $202M of revenue in its latest quarter (Q3 2026) against $167M for Applied Aerospace & Defense (Q2 2026). Karman Holdings is growing faster (+66% against +47% a year earlier). Karman Holdings is more profitable, with an operating margin of 15.7% against -57.5%.
Where the money goes: KRMN and AADX
Karman Holdings (KRMN) · Q3 2026
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 follows the revenue to costs, profit and cash.
Applied Aerospace & Defense (AADX) · Q2 2026
Applied Aerospace & Defense, Q2 2026: revenue $167M (+47% year over year), operating margin -57.5%, net loss $154M. The chart follows the revenue to costs, profit and cash.
| Karman Holdings (KRMN) | Applied Aerospace & Defense (AADX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $202M | $167M |
| Revenue growth, Y/Y | +66% | +47% |
| Gross margin | 42.7% | — |
| Operating margin | 15.7% | -57.5% |
| Net earnings | $20.9M | −$154M |
| Net margin | 10.4% | -92.0% |
| Operating cash flow | $26.7M | — |
| Free cash flow | $13.4M | — |
Where the revenue comes from
Karman Holdings
- Tactical Missile and Integrated Defense Systems: $67.6M (34%)
- Hypersonic and Strategic Missile Defense: $51.1M (25%)
- Maritime Defense Systems: $45.0M (22%)
- Space and Launch: $37.9M (19%)
Applied Aerospace & Defense
- Defense Aviation and Airborne Systems: $78.9M (47%)
- C5ISR and Precision Strike Systems: $49.6M (30%)
- Space and Launch Systems: $38.8M (23%)
Questions
Which is bigger, Karman Holdings or Applied Aerospace & Defense?
Karman Holdings is the larger company: $202M of revenue in its latest quarter (Q3 2026) against $167M for Applied Aerospace & Defense (Q2 2026).
Is Karman Holdings or Applied Aerospace & Defense growing faster?
Karman Holdings is growing faster (+66% against +47% a year earlier).
Which is more profitable, Karman Holdings or Applied Aerospace & Defense?
Karman Holdings is more profitable, with an operating margin of 15.7% against -57.5%.
More: Karman Holdings earnings · how Karman Holdings makes money · Applied Aerospace & Defense earnings · how Applied Aerospace & Defense makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 12, 2026). Fiscal quarters can end on different dates. Not investment advice.