By Roshan Fernandez

Karman Holdings reported higher revenue on growth in its tactical missile and defense systems sector and its hypersonics and strategic missile defense unit.

The aerospace and defense company that sells missile parts on Tuesday reported a first-quarter loss of $4.8 million, or a loss of 4 cents a share, compared with a profit of $2.1 million, or 1 cent a share, a year earlier.

The net loss was primarily due to share-based compensation expenses from the company's initial public offering in February.

Excluding one-time items, per-share earnings were 5 cents, beating the 2 cents per share that analysts were expecting, according to FactSet.

Revenue rose to $100.1 million from $83 million a year earlier. Analysts surveyed by FactSet had forecast sales of $96.4 million.

The Huntington Beach, Calif.-based company said sales were up 30% for its missile and defense systems unit from the same period a year ago. That growth was supported by deployments to active conflict zones and the replenishment of U.S. military inventories.

Sales in its hypersonics and strategic missile defense unit were up 21%. That rise was driven by a net increase in funded development and production programs.

The company also reaffirmed its guidance for total revenue of $423 million to $433 million this year.

Karman said its funded backlog was $636.4 million, which represents the total invoiceable value of existing contracts that haven't been billed. That is an increase of 9.8% compared with the prior quarter.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 13, 2025 16:51 ET (20:51 GMT)

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