Castellum Inc (CTM)

[justicewillbesoon]

POTOMAC, Md., May 16, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces that it has achieved record financial results for its first quarter ended March 31, 2022.

Revenue for Q1 2022 was a record $9.99 million. Adjusted EBITDA (excluding non-cash depreciation, amortization, and stock compensation), a non-GAAP measure, was over $500,000. Liquidity remained strong with current assets at $8.29 million.

“Castellum continues to scale, with solid financial results,” said Mark Fuller, President, and CEO of Castellum. “Revenue reached another record and with our recent acquisition of Lexington Solutions Group we anticipate strong financial performance through the balance of the year. We continue to integrate our acquisitions from last year and solidify our platform for further acquisitions in the coming months based upon a strong pipeline of companies looking to sell. Work is well underway on our planned uplisting this summer. All in all, we are in the strongest position our company has ever been and we look forward to even better days ahead.”