CTM

Company Overview — What Does Castellum, Inc. Do?

Castellum, Inc. is focused on acquiring and growing technology companies in the areas of cybersecurity, information technology, electronic warfare, information warfare, and information operations with businesses in the governmental and commercial markets. Services include intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity and policy support, and data analytics. These services are applicable to customers in the federal government, financial services, healthcare and other users of large data applications. They can be delivered to on-premises enclaves or customers who rely upon cloud-based infrastructures. The Company has worked with multiple business brokers and contacts within their business network to identify potential acquisitions. Due to our success in completing six acquisitions over the previous three years and given our executive team's networks of contacts in the IT, telecom, cybersecurity, and defense sectors, we believe that we are well positioned to continue to execute our business strategy given a pipeline of identified acquisition targets. Because of our executive team’s prior experience growing businesses organically, we believe that we are well positioned to grow our existing business via internal growth as well. The Company has developed a qualified business opportunity pipeline of over $400 million (the “Opportunity Pipeline”). The Opportunity Pipeline represents the revenue opportunity for the Company from potential future contracts obtained through organic growth from qualified customers based on the expected base year contract value plus the value of all option periods. Our primary customers are agencies and departments of the U.S. Federal, state and local governments. Our expertise and technology support national security missions and government modernization for intelligence, defense, and federal civilian customers. The demand for our expertise and technology, in large measure, is created by the increasingly complex network, systems, and information environments in which governments and businesses operate, and by the need to stay current with emerging technology while increasing productivity, enhancing security, and ultimately, improving performance. Some of our key initiatives include the following: · Continue our unwavering commitment to our customers while supporting the communities in which we work and live; · Continue to grow organic revenue across our large, addressable market; · Recruit and hire a world class workforce to execute on our growing backlog; and · Differentiate ourselves through our investment, including our strategic mergers and acquisitions, allowing us to enhance our current capabilities and create new customer access points. We provide expertise and technology to enterprise and mission customers in support of national security missions and government modernization/transformation. Due to the nature of the work being executed for the United States (U.S.) Federal government (the “USG”), the budgets continue to grow in support of the national security imperatives that are bipartisan. The majority of contracted work is operational in nature and is funded on an on-going basis. Company leadership and our Board of Directors (the “Board”) are well aware of the challenges our military will face in the future, from peer and near peer competitors, and that innovation will be necessary to maintain our military as the world’s premier defense force with overwhelming offensive force should that be necessary. To address military needs, our plan is to develop business teams that can undertake the larger system developments and provide superior technology services. Smaller business teams will also be created to evolve new technology and processes which will enable and improve our military effectiveness with these teams having the ability to provide advanced capabilities quickly and affordably. Our objective is to become a trusted partner in assisting our military to maintain superiority when compared to other forces. As innovation and new military processes are evolved and proven, solutions will be offered to avail these enhancements government wide. These will assist in introducing new levels of government service while reducing cost to the taxpayer. To achieve Castellum’s objectives, the following solutions are offered: · Enterprise – Castellum provides capabilities that enable the internal operations of a government agency. This includes digital solutions, such as business systems, agency-unique applications, investigative solutions, and enterprise information technology (“IT”). For example, Castellum customizes, implements, and maintains commercial-off-the-shelf (“COTS”) and customer enterprise resource planning (“ERP”) systems. This includes, financial, human capital, and supply chain management systems. Castellum also designs, integrates, deploys and sustains enterprise-wide IT systems in a variety of models. · Mission – Castellum provides capabilities that enable the execution of a government agency’s primary function, or “mission”. For example, we support strategic and tactical mission customers with capabilities in areas such as command and control, communications, intelligence collection and analysis, signal intelligence (“SIGINT”), electronic warfare (“EW”), and cyber operations. Castellum develops tools and offerings in an open, software-defined architecture with multi-domainand multi-mission capabilities. · Expertise – Castellum provides expertise to both enterprise and mission customers. For enterprise customers, we deliver talent with the specific technical and functional knowledge to support internal agency operations. And for mission customers, we deliver talent with technical and domain knowledge to support the execution of an agency’s mission. We also deliver actionable intelligence through multi-source collection, aggregation, and analysis. . Technology – Castellum delivers technology to both enterprise and mission customers. For enterprise customers, technology includes developing and implementing digital solutions (business systems, agency-unique applications) and end-to-end enterprise IT systems. We continually advance infrastructure through migration to the cloud network modernization, active cyber defense, and the application of data operations and analytics. For mission customers, technology includes developing and deploying multi-domain offerings for signals intelligence, resilient communications, fee space optical communications, electronic warfare, and cyber operations. Castellum invests ahead of customer needs with research and development to generate unique intellectual property and differentiated technology addressing critical national security mission needs. The Company was incorporated in Nevada on September 30, 2010 under the name Passionate Pet, Inc. and in January 2013 the Company changed its name to Firstin Wireless Technology, Inc. In March 2015 the Company changed its name to BioNovelus, Inc. Bayberry Acquisition Corporation, a Nevada corporation (“Bayberry”) was incorporated on October 24, 2018 and primarily owned and controlled by Jay Wright and Mark Fuller. Our address is 3 Bethesda Metro Center, Suite 700, Bethesda, MD 20814. Castellum, Inc. (CTM) is classified as a micro-cap stock in the Industrials sector, specifically within the Business Services industry. The company is led by CEO Mark Stephen Charles Fuller and employs approximately 207 people, headquartered in BETHESDA, Virginia. With a market capitalization of $60M, CTM is one of the notable companies in the Industrials sector.

Castellum, Inc. (CTM) Stock Rating — Reduce (April 2026)

As of April 2026, Castellum, Inc. receives a Reduce rating with a composite score of 29.7/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.CTM ranks #3,724 out of 4,446 stocks in our coverage universe. Within the Industrials sector, Castellum, Inc. ranks #636 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

CTM Stock Price and 52-Week Range

Castellum, Inc. (CTM) currently trades at $0.65. The stock lost $0.01 (2.2%) in the most recent trading session. The 52-week high for CTM is $1.56, which means the stock is currently trading -58.1% from its annual peak. The 52-week low is $0.77, putting the stock -15.5% above its annual trough. Recent trading volume was 763K shares, suggesting relatively thin trading activity.

Is CTM Overvalued or Undervalued? — Valuation Analysis

Castellum, Inc. (CTM) carries a value factor score of 28/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 1.66x, versus the sector average of 2.23x. The price-to-sales ratio is 1.14x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, CTM trades at 46.21x EV/EBITDA, versus 5.70x for the sector.

At current multiples, Castellum, Inc. trades at a premium to most Industrials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Castellum, Inc. Profitability — ROE, Margins, and Quality Score

Castellum, Inc. (CTM) earns a quality factor score of 36/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -6.7%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -5.7% versus the sector average of 3.3%.

On a margin basis, Castellum, Inc. reports gross margins of 38.9%, compared to 35.8% for the sector. The operating margin is -6.1% (sector: 6.2%). Net profit margin stands at -5.2%, versus 3.9% for the average Industrials stock. Revenue growth is running at 26.9% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

CTM Debt, Balance Sheet, and Financial Health

Castellum, Inc. has a debt-to-equity ratio of 17.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 4.40x, indicating strong short-term liquidity. Total debt on the balance sheet is $3M. Cash and equivalents stand at $18M.

CTM has a beta of 1.56, meaning it is more volatile than the broader market — a $10,000 investment in CTM would be expected to move 55.9% more than the S&P 500 on any given day. The stability factor score for Castellum, Inc. is 26/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Castellum, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Castellum, Inc. reported revenue of $52M and earnings per share (EPS) of $-0.03. Net income for the quarter was $-2M. Gross margin was 38.9%. Operating income came in at $-3M.

In FY 2025, Castellum, Inc. reported revenue of $53M and earnings per share (EPS) of $-0.03. Net income for the quarter was $-2M. Gross margin was 36.6%. Revenue grew 18.1% year-over-year compared to FY 2024. Operating income came in at $-3M.

In Q3 2025, Castellum, Inc. reported revenue of $15M and earnings per share (EPS) of $0.00. Net income for the quarter was $415,401. Gross margin was 37.6%. Revenue grew 25.9% year-over-year compared to Q3 2024. Operating income came in at $445,280.

In Q2 2025, Castellum, Inc. reported revenue of $14M and earnings per share (EPS) of $0.00. Net income for the quarter was $-322,107. Gross margin was 36.1%. Revenue grew 21.7% year-over-year compared to Q2 2024. Operating income came in at $-383,523.

Over the past 8 quarters, Castellum, Inc. has demonstrated a growth trajectory, with revenue expanding from $12M to $52M. Investors analyzing CTM stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

CTM Dividend Yield and Income Analysis

Castellum, Inc. (CTM) does not currently pay a dividend. This is common among smaller companies in the Business Services industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

CTM Momentum and Technical Analysis Profile

Castellum, Inc. (CTM) has a momentum factor score of 20/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 47/100 reflects moderate short selling activity.

CTM vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, Castellum, Inc. (CTM) ranks #636 out of 752 stocks based on the Blank Capital composite score. This places CTM in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing CTM against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CTM vs S&P 500 (SPY) comparison to assess how Castellum, Inc. stacks up against the broader market across all factor dimensions.

CTM Next Earnings Date

No upcoming earnings date has been announced for Castellum, Inc. (CTM) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy CTM? — Investment Thesis Summary

The quantitative profile for Castellum, Inc. suggests caution. The quality score of 36/100 flags below-average profitability. The value score of 28/100 indicates premium valuation. Momentum is weak at 20/100, a headwind for near-term performance. High volatility (stability score 26/100) increases portfolio risk.

In summary, Castellum, Inc. (CTM) earns a Reduce rating with a composite score of 29.7/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CTM stock.

Related Resources for CTM Investors

Explore more research and tools: CTM vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare CTM head-to-head with peers: CTM vs SOBO, CTM vs TEN, CTM vs GLDD.