Castellum, Inc. Announces Record EBITDA for Second Quarter 2020
POTOMAC, Md., July 27, 2020 (GLOBE NEWSWIRE) -- Castellum, Inc. (ONOV:OTC) announces strong revenue and record quarterly EBITDA for the second quarter ended June 30, 2020. The Company expects to file its 2020 Q2 report at www.otcmarkets.com within the next 10 days.
Castellum’s financial picture continues to grow stronger. Revenue for Q2 2020 was $3.4 million. EBITDA, a non-GAAP measure, was over $550,000. Cash on hand at quarter end was over $1.9 million (up from $1.1 million at the end of Q1) and Current Assets were a record $3.97 million.
“The continued success of our business is very heartening,” said Mark Fuller, President, and CEO of Castellum. “We have improved the efficiency of the Corvus division under Jim Enicks’ leadership and now are positioned to add some inorganic growth to the mix. The goal emains the same: growth both organically and through acquisition to drive shareholder value.”
About Castellum, Inc.
Castellum, Inc. (ONOV:OTC) is a technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy. The company completed its first acquisition in November 2019.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b836e4df-3f65-4fab-ad0e-878a58e72f2b
IoT Evolution #TECHSUPERSHOW Grand Opening Reception on Expo Floor