Castellum Inc
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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FY2023 · Filed Mar 21, 2024
CTM$0.45+20.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenues | $45,243,812 | $42,190,643 | $25,067,450 |
| Cost of revenues | 26,568,485 | 24,593,326 | 13,992,898 |
| Gross profit | 18,675,327 | 17,597,317 | 11,074,552 |
| Operating expenses: | |||
| Indirect costs | 8,935,113 | 11,859,401 | 3,409,649 |
| Overhead | 1,884,059 | 1,560,252 | 850,999 |
| General and administrative | 17,697,886 | 13,586,600 | 14,539,053 |
| Goodwill impairment loss | 6,919,094 | — | — |
| (Gain) loss from change in fair value of contingent earnout | (92,000) | 555,000 | — |
| Total operating expenses | 35,344,152 | 27,561,253 | 18,799,701 |
| Loss from operations before other income (expense) | (16,668,825) | (9,963,936) | (7,725,149) |
| Other income (expense): | |||
| Loss on induced conversion | (300,000) | — | — |
| Gain (loss) from change in fair value of derivative liability | 1,054,025 | (132,000) | — |
| Other income, net | 106,419 | 303 | 38,851 |
| Interest expense, net of interest income | (3,248,914) | (3,992,809) | (2,516,775) |
| Total other (expense) | (2,388,470) | (4,124,506) | (2,477,924) |
| Loss from operations before (expense) benefit for income taxes | (19,057,295) | (14,088,442) | (10,203,073) |
| Income tax benefit (expense) | 1,257,117 | (819,596) | 2,656,643 |
| Net loss | (17,800,178) | (14,908,038) | (7,546,430) |
| Less: preferred stock dividends | 118,152 | 100,516 | 12,290 |
| Net loss to common shareholders | $(17,918,330) | $(15,008,554) | $(7,558,720) |
| Net loss per share | |||
| Basic and diluted | $(0.38) | $(0.55) | $(0.41) |
| Shares used in calculation of net loss per share | |||
| Basic and diluted | 47,177,950 | 27,468,226 | 18,259,283 |
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