Business
Karman designs, tests and manufactures payload-protection, propulsion, interstage and other mission-critical systems for missile, defense and space programs.
Karman's defense and space revenue surged and margins were strong, but free cash flow turned sharply negative and material weaknesses accompanied its first public-company year.
The read at a glance✓ Audited against SEC data
- Growth — Revenue grew 36.6%OK
- Profitability — Net income grew 36.7% to $17.366M from $12.701MOK
- Cash flow — Free cash flow turned negative at an outflow of $42.455M from $11.393MWatch
- Margins — Operating margin contracted 294 bps to 15.47%Watch
- Accounting — Acquisition-led growth with cash and control caveatsWatch
- Insiders — 0 purchases and 8 salesNote
Where the revenue comes from
Fiscal 2025, as Karman Holdings Inc. reports it. History and quarterly detail are in the app.
- Tactical Missile And Integrated Defense Systems$171.7M
- Hypersonic And Strategic Missile Defense$150.0M
- Space And Launch$149.8M
Leadership changes
From Karman Holdings Inc.'s own filings, the day they're filed.
- Mary Petryszyn · Directors · appointmenteff. 2025-05-13
Latest filings
- 8-K · Company announcement2026-08-28
- 8-K · Company announcement2026-08-27
- 10-Q · Quarterly report2026-08-11
- 8-K · Company announcement2026-08-06
- 8-K · Company announcement2026-08-06
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Karman Holdings Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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