CTM Lands $66.2M Prime Contract—First 'Full and Open' Win Strengthens Growth Prospects

CTM Secures Second-Largest Contract—No Small-Business Set-Aside Restrictions

Castellum, Inc. (NYSE-American: CTM) announced that its subsidiary, Specialty Systems, Inc. (SSI), has been awarded a $66.2 million, five-year contract to provide logistics, engineering, and cyber support to the Naval Air Warfare Center Aircraft Division Lakehurst. The scope of this win is significant: it represents the company’s first full and open prime contract (without small-business set-aside restrictions), marking a notable step forward as CTM pivots to competing against the industry’s largest players.

The contract focuses on critical mission operations for Navy Aircraft Platform Support Equipment and Aircraft Launch Recovery Equipment. By securing this contract, CTM further embeds itself as a vital contributor to U.S. defense operations—backing air-capable ships and systems supporting warfighters worldwide.

Expansion Reflects Momentum: Major Wins Fuel Revenue Growth and Broader Capabilities

CTM’s leadership emphasized how this win reinforces the company’s strategy: targeting larger, full and open opportunities to accelerate growth. With this latest award, CTM adds to its string of recent victories, including a $103M+ contract earlier this year, both underpinning a clear trajectory toward stronger, steadier revenue streams and broader technological reach.

According to CEO Glen Ives, this contract is not just a boost to the company’s topline but a testament to its deepening expertise, culture of performance, and ability to deliver advanced services. It also helps CTM reinvest in innovation and scale operations as new professionals join the team, expanding solutions for a broadening roster of defense clients.

CTM's Competitive Advantage Grows as Large-Business Status Unlocks New Markets

Landing a prime, full and open contract with no set-aside restrictions distinguishes CTM among its peers, signaling readiness to play on the industry's biggest stage. This contract expands CTM's eligibility to pursue even larger opportunities, setting a new baseline for organic growth. With proven execution across engineering, cyber, and logistics, CTM is increasingly positioned to deliver complex solutions for both current and prospective mission customers.

Potential Risks: Subject to Funding and Government Approval

Despite the momentum, CTM remains aware of federal contracting risks: awards can be protested, government budgets can be delayed, and contracts may be canceled at convenience. Investors and stakeholders are encouraged to review the company’s annual and quarterly reports for full risk disclosures.

What Should Investors Watch Next?

This contract marks a strategic shift, signaling CTM’s successful move into the ranks of larger federal contractors. Investors and industry watchers will be looking to see if this win accelerates further large-scale contract pursuits and delivers the anticipated revenue and profit growth. With another major win in the bag, CTM’s future pipeline—and how the company scales to handle its growing scope—are worth close attention in the quarters ahead.

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