Following a shareholder report on Wednesday, shares of Castellum Inc. (NYSE: CTM) increased 6.84% to $1.25.
What kind of update has CTM given?
Castellum (CTM) recently posted the following disclosure from CEO Mark Fuller for its investors, potential shareholders, and other stakeholders in accordance with its obligations under Regulation FD.
The CEO of Castellum takes delight in transforming a public business from operational losses to a recurrent cash operating profit and from zero sales to a run rate of $44.4 million (as of the most recent quarter). By supplying the Department of Defense (including the Army, Navy, SOCOM, and soon the Air Force thanks to our recently announced new contract win) as well as other branches of the American government, CTM was able to better defend its nation by acquiring six firms.
What will CTM be emphasizing?
CTM focuses on the cyberspace digital battlefield, which includes, among other things, electronic warfare, information warfare, software engineering, cybersecurity, and data analytics. Every day, attackers from all around the world launch cyberattacks on this digital battleground. After completing its legal and financial due diligence and a one-year audit of the acquisition in accordance with its accounting obligations under PCAOB rules, CTM further stated that 2023 appears to be another record year for the business and that it plans to close a recently announced $10 million awaiting buyout in the first quarter of the year, which would make it a record year for the company. Castellum also has continuing discussions with more significant possibilities.
CTM dissatisfied with current value:
While CTM anticipates a fantastic 2023 for its business, its stock price has not performed as well. CTM has had a stock decline of more than 75% during the previous 90 days, from over $4 per share (split adjusted) to under $1. Although CTM rose back above $1 per share (nearly to $1.90), it just fell down below that mark. For this, CTM will keep concentrating on enhancing and expanding its activities. Performance of the CTM drives stock performance throughout the medium to long term. The best course of action is to increase the company’s operating profit and sales.
How will CTM keep growing?
Castellum’s (CTM) stated, aggressive, short-term objective is to almost double its recurring cash operating income and more than double the company’s size by 2023, while minimizing debt and share issuance, in order to increase its per-share metrics (revenue per share and recurring cash operating margin per share). Additionally, CTM wants to grow into a $1 billion firm that dominates the digital battlefield market within the next ten years.