Karman Space & Defense Reports Record Q1 2026 Results

Huntington Beach, Calif., USA -- Karman Space & Defense (NYSE: KRMN), a leader in next-generation system solutions for defense and space, announced its financial results for the first quarter of fiscal year 2026. The company reported record-breaking performance, driven by strong demand across its core defense and space programs.

Financial Highlights

• Record quarterly revenue of $151.2 million, marking a 51.0% increase year-over-year.
• Record net income of $7.8 million, or $0.06 per diluted share, a significant turnaround from the prior-year net loss.
• Non-GAAP adjusted EBITDA reached $44.8 million, up 47.7% compared to the previous year.
• Record backlog of $1.0 billion, a 61% increase from the first quarter of 2025.

Strategic Growth and Outlook

Karman continues to expand its market presence, notably by acquiring Seemann Composites and MSC in January 2026 to enhance capabilities in maritime defense, composites, and resin systems. The company also increased its revolving credit facility to $150 million, providing additional financial flexibility. Management has raised its full-year 2026 guidance, now expecting revenue between $720 million and $735 million and adjusted EBITDA between $208.5 million and $219.5 million, reflecting confidence in the ongoing demand for its defense solutions.

Market Performance

Growth was balanced across several key sectors, with Space and Launch leading the way, expanding by 29%. Other segments, including Hypersonics, Strategic Missile Defense, and the newly established Maritime Defense Systems, also contributed to the record results, supported by a diversified portfolio of over 80 customers and 130 programs.