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 remains 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.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact:
Mark Fuller, CEO
info@castellumus.com
301-961-4895
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b836e4df-3f65-4fab-ad0e-878a58e72f2b