Karman (NYSE:KRMN) reported record fiscal first-quarter results for 2026, achieving a revenue of $151 million, a 51% increase year-over-year. The company also noted a record gross profit of $64 million, record adjusted EBITDA of $45 million, and an all-time high backlog exceeding $1 billion. The results were driven by growth across all legacy markets and contributions from recent acquisitions.
Chief Executive Officer Jon Rambeau highlighted that net income reached $8 million, compared to a $5 million loss in the same quarter last year. The company’s backlog surged by 61% year-over-year. Karman raised its full-year revenue outlook to between $720 million and $735 million, projecting 54% year-over-year growth. Additionally, their fiscal 2027 outlook reflects expected growth due to increased defense sector demand, especially in hypersonics and missile defense programs.
Karman ended the quarter with $74 million in cash, significantly higher than previous year-end figures, and expects a reduction in debt leverage to approximately three times adjusted EBITDA by the close of 2026. The company is currently investing in expanding production capacity and enhancing technology at its new Salt Lake City facility, which is set to begin production later this year.
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