Karman Space & Defense Reports Record Q4 and FY25 Financial Results, Increases 2026 Outlook

Karman Space & Defense reported record Q4 revenue of $134.5mln, up 47.4% YoY, and net income of $7.7mln, a 358% YoY increase. The company achieved a record backlog of $801.1mln, up 38.2% YoY. For FY25, Karman produced record annual revenue of $471.5mln, up 36.6% YoY, and delivered record annual non-GAAP adjusted EBITDA of $145.3mln, a 36.9% YoY increase. The company also completed an IPO, a non-dilutive secondary equity offering, and three accretive acquisitions.