By Connor Hart

Karman Holdings expects profit and revenue to continue growing in 2025, citing increasing demand for the company's missile, defense and space systems.

The Huntington Beach, Calif., company posted a profit of $12.7 million in 2024, up from $4.6 million a year earlier. On a per-share basis, annual earnings of 8 cents missed the 10 cents that analysts surveyed by FactSet expected.

Revenue increased 23% to $345.3 million for the year, just below the $346.1 million that analysts modeled.

Sales across the company's hypersonics and strategic missile defense unit rose 15%, to $114.6 million. Its space and launch division notched revenue of $115 million, up 22% from the prior year, while its tactile missile and integrated defense systems arm logged revenue of $115.6 million, representing a 35% increase.

"Each of our end markets delivered double-digit topline growth and remains very well aligned with existing and emerging customer and national priorities in missiles, tactical defense systems, and space and launch systems," Chief Executive Tony Koblinski said.

Karman, which had its initial public offering in February, guided for sales of $423 million to $433 million in 2025, ahead of analyst views for $408.6 million. It expects adjusted Ebitda -- or earnings before interest, taxes, depreciation and amortization -- of $132 million to $137 million, also topping analyst forecasts for $127.5 million.

Koblinski added that the company's backlog gives it high confidence to achieve its guidance. As of the end of 2024, the company's total funded backlog was $579.8 million.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 08, 2025 16:39 ET (20:39 GMT)

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