Karman Space & Defense Reports Third Quarter Fiscal Year 2026 Financial Results
Business Wire•05/11/2026•16:10 ET
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Key Highlights
- ➤Record quarterly revenue $202 million, up 66% total and 25% organic year over year
- ➤Record quarterly net income $21 million, up 174% year over year
- ➤Backlog reached record $1.7 billion, increasing 108% versus fiscal year-end 2025
- ➤Quarterly bookings nearly $465 million included a significant seven-year Lockheed Martin THAAD contract
- ➤Fiscal 2026 outlook raised to $755 million-$760 million revenue and $225 million-$227 million adjusted EBITDA
Expert Statements
Jon Rambeau, Chief Executive Officer of Karman Space & Defense
“We delivered another quarter of record results, highlighted by 66% total revenue growth, 25% organic revenue growth, 60% adjusted EBITDA growth, $13 million of free cash flow, and a doubling of backlog compared to fiscal year-end 2025.”
Jon Rambeau, Chief Executive Officer of Karman Space & Defense
“With significant visibility into our increased fiscal 2026 guidance, we are focused on building backlog for 2027 and beyond while supporting our long-term organic revenue growth algorithm of 20% to 25%.”
Jon Rambeau, Chief Executive Officer of Karman Space & Defense
“The award of our second long-term agreement in the quarter further extends our planning horizon and enables us to allocate capital and resources more efficiently. We are currently negotiating two additional long-term agreements, executing the initial phases of two second-source opportunities, and actively pursuing three more. In this strong demand environment, we continue to go on offense, gaining market share while creating value for shareholders.”
Jon Rambeau, Chief Executive Officer of Karman Space & Defense
“We are excited about the opportunities ahead as we expand our team, broaden our global footprint, and continue to strengthen our organization. Our unique merchant supplier position enables us to support the highest-priority defense programs that enhance national security, while our Space and Launch business provides critical products supporting both space exploration and emerging commercial space opportunities. Across our portfolio, we see substantial opportunity for continued growth. We remain focused on executing our strategy and delivering long-term shareholder value.”
Karman Space & Defense Reports Third Quarter Fiscal Year 2026 Financial Results
Karman Space & Defense (NYSE: KRMN), today reported third quarter fiscal year 2026 financial results.
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