Karman Holdings Inc. income statement
In fiscal 2025, Karman Holdings Inc. reported revenue of $472m, up 36.6% on the year before, operating income of $72.9m (a 15.5% margin) and net income of $17.4m, or $0.13 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|
| Revenue | 226 | 281 | 345 | 472 | 590 |
| Cost of revenue | 145 | 175 | 213 | 281 | 344 |
| Gross profit | 81 | 106 | 132 | 190 | 246 |
| General and administrative | 30 | 37 | 44 | 86 | 103 |
| Operating income | 20 | 48 | 64 | 73 | 99 |
| Interest expense | 38 | 48 | 51 | 45 | 49 |
| Income before tax | −17 | 1 | 14 | 33 | 53 |
| Income tax | −3 | −3 | 2 | 15 | 16 |
| Net income | −14 | 4 | 13 | 17 | 37 |
| Diluted EPS | −$0.09 | $0.03 | $0.08 | $0.13 | $0.28 |
| Diluted shares (average) | 159m | 167m | 167m | 132m | 132m |
| EBITDA | 55 | 76 | 96 | 116 | 135 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 86 | 91 | 100 | 115 | 122 | 134 | 151 | 182 |
| Cost of revenue | 52 | 57 | 61 | 68 | 72 | 81 | 87 | 104 |
| Gross profit | 34 | 35 | 39 | 47 | 50 | 54 | 64 | 78 |
| General and administrative | 11 | 13 | 23 | 19 | 20 | 23 | 29 | 31 |
| Operating income | 17 | 14 | 10 | 20 | 22 | 21 | 21 | 35 |
| Interest expense | 13 | 13 | 11 | 12 | 10 | 11 | 13 | 15 |
| Income before tax | 5 | 2 | −1 | 9 | 12 | 14 | 9 | 19 |
| Income tax | 1 | 0 | 3 | 2 | 4 | 6 | 1 | 5 |
| Net income | 4 | 2 | −5 | 7 | 8 | 8 | 8 | 14 |
| Diluted EPS | $0.03 | $0.01 | −$0.04 | $0.05 | $0.06 | $0.06 | $0.06 | $0.11 |
| EBITDA | 20 | 23 | 19 | 23 | 25 | 34 | 38 | 39 |
Compare with peers
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