Castellum Inc
castellumus.comWhat Do They Do?
Provides cybersecurity, software, and engineering services to government agencies and commercial clients.
10-K for FY2025, filed Mar 9, 2026Castellum is focused on building a large, successful technology services, solutions, and products company in the areas of cybersecurity…View ↗
Our primary customers are currently agencies and departments of the USG. Our expertise and technology support national security missions…View ↗
Our government clients include cabinet-level departments of the USG, U.S. Army, U.S. Navy, U.S. Marine Corp, Special Operations, as well as…View ↗
How Do They Make Money?
Clients pay for services under contracts that cover costs plus a fee, set a fixed price, or charge for labor hours and materials. Government work is generally billed based on hours worked; certain fixed-price software work is billed as deliverables are completed.
10-K for FY2025, filed Mar 9, 2026The Company currently generates its revenue from three different types of contractual arrangements: cost plus fixed fee (“CPFF”)…View ↗
For CPFF contracts, the Company uses input progress measures to derive revenue based on hours worked on contract performance as follows…View ↗
Revenue generated from contracts with federal, state, and local governments is primarily recognized over time. Under CPFF and…View ↗
$52.9M
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10-K for FY2025, filed Mar 9, 2026
$52.9M ↗
Who Are Their Customers?
U.S. federal agencies are the primary clients; Castellum also serves state and local agencies and commercial clients. It wins much of its work through formal competitive bids, as a prime contractor or subcontractor.
10-K for FY2025, filed Mar 9, 2026Our primary customers are currently agencies and departments of the USG. Our expertise and technology support national security missions…View ↗
Castellum competes with many different companies, including Northrop Grumman Corporation, CACI International, Inc., Peraton, Inc., and…View ↗
Much of our business is won through submission of formal competitive bids. Government customers typically base their decisions regarding…View ↗
Our government clients include cabinet-level departments of the USG, U.S. Army, U.S. Navy, U.S. Marine Corp, Special Operations, as well as…View ↗
10-K for FY2025, filed Mar 9, 2026
For the years ended December 31, 2025, 2024, and 2023, the Company had three customers represent 73%, 47%, and 52% of revenue earned…View ↗
Do Revenues Turn Into Profits?
No. It lost $2.4M in FY2025.
10-K for FY2025, filed Mar 9, 2026
−$2.8MView ↗
10-K for FY2025, filed Mar 9, 2026
−$2.4MView ↗
10-K for FY2025, filed Mar 9, 2026
−$2.1MView ↗
How Are They Changing?
Growing. Revenue grew 2.1x in 4 years, from $25.1M in FY2021 to $52.9M in FY2025, about 21% a year.
Model-based engineering
The current service description includes model-based systems engineering alongside software, cybersecurity, and other technical support, extending the earlier service mix.
10-K for FY2022, filed Mar 17, 2023 10-K for FY2025, filed Mar 9, 2026Castellum, Inc. is focused on acquiring and growing technology companies in the areas of cybersecurity, IT, electronic warfare, information…View ↗
Castellum is focused on building a large, successful technology services, solutions, and products company in the areas of cybersecurity…View ↗
Who Do They Compete With?
Competes with Northrop Grumman, CACI International, Peraton, and Booz-Allen Hamilton
10-K for FY2025, filed Mar 9, 2026Castellum competes with many different companies, including Northrop Grumman Corporation, CACI International, Inc., Peraton, Inc., and…View ↗
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