Mark Fuller, president and CEO of Castellum (NYSE-American: CTM), said the cybersecurity and electronic warfare services provider generated record revenue of more than $12.44 million during the second quarter of 2023.
Fuller said in a statement published Monday the figure reflects a 25 percent jump from Castellum’s first-quarter revenue driven by the company’s acquisition of Global Technologies Management Resources in late March.
Hollywood, Maryland-based GTMR provides design engineering, prototype manufacturing, tactical systems testing, electronic technical manual development and other support services. The engineering services contractor is headquartered near Naval Air Station Patuxent River.
“Importantly, our unaudited cash balance at the end of Q2 was $2.97 million, up a bit more than 30% from $2.27 million at the end of Q1, despite retiring over $300,000 of bank debt during the quarter,” noted Fuller.
