Karman Holdings Inc. (NYSE: KRMN) announced its financial results for the fourth quarter and full fiscal year 2025 on March 25, 2026. The company reported a record quarterly revenue of $134.5 million, representing a 47.4% increase year-over-year. Additionally, Karman achieved a record net income of $7.7 million for the quarter, a remarkable 358% increase compared to the same period last year, translating to earnings per fully diluted share of $0.06. For the full fiscal year 2025, Karman reported total revenue of $471.5 million, up 36.6% year-over-year, with a net income of $17.4 million, also reflecting a 36.7% increase. The company delivered a non-GAAP adjusted EBITDA of $42.0 million for Q4, a 59% increase year-over-year, and $145.3 million for the full year, marking a 36.9% rise. Karman's backlog reached a record $801.1 million at the end of Q4 2025, up 38.2% from the previous year. The company has raised its 2026 revenue outlook to between $715 million and $730 million, with adjusted EBITDA expectations of $207 million to $218 million. CEO Jon Rambeau highlighted the strong demand for Karman's solutions and the successful integration of recent acquisitions, positioning the company for continued growth in the defense and space sectors.

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