Karman Holdings Inc. (KRMN) Income Statement
KRMN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKRMN revenue and net income
Where KRMN's revenue goes
2025Each bar shows an amount and its share of revenue. KRMN kept 3.7% of revenue as net income.
KRMN profit margins
KRMN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +36.6% | +27.7% | — | — |
| Gross profit | +43.8% | +32.9% | — | — |
| Operating income | +14.8% | +52.8% | — | — |
| Net income | +36.7% | — | — | — |
| EPS (diluted) | +260.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KRMN quarterly EPS vs estimates
Karman beat the analyst EPS estimate in 3 of the last 6 quarters. Next report: November 5, 2026 (estimate $0.15).
KRMN income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $471.5M | $345.3M | $280.7M | $226.3M |
| Cost of revenue | $281.5M | $213.1M | $175.2M | $145.4M |
| Gross profit | $190.0M | $132.1M | $105.5M | $80.9M |
| Sales, general & admin | $85.7M | $44.4M | $36.6M | $30.0M |
| Total operating expenses | $117.1M | $68.6M | $57.1M | $60.5M |
| Operating income | $72.9M | $63.6M | $48.5M | $20.4M |
| Interest expense | $44.6M | $50.7M | $47.9M | $37.5M |
| Income before taxes | $32.5M | $14.3M | $1.2M | −$17.3M |
| Income taxes | $15.2M | $1.6M | −$3.2M | −$3.2M |
| Net income | $17.4M | $12.7M | $4.4M | −$14.1M |
| EBITDA | $119.8M | $97.9M | $76.2M | $55.2M |
| EPS (diluted) | $0.36 | $0.10 | $0.03 | −$0.09 |
| Gross margin | 40.3% | 38.3% | 37.6% | 35.8% |
| Operating margin | 15.5% | 18.4% | 17.3% | 9.0% |
| Net margin | 3.7% | 3.7% | 1.6% | −6.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $182.1M | $151.2M | $134.5M | $121.8M | $115.1M | $100.1M | $91.2M | $86.0M | $85.0M | $83.0M | $77.0M |
| Cost of revenue | $103.8M | $87.3M | $112.3M | $71.8M | $68.1M | $60.7M | $56.5M | $52.2M | $50.4M | $54.0M | $47.0M |
| Gross profit | $78.2M | $63.9M | $22.2M | $49.9M | $47.0M | $39.5M | $34.7M | $33.8M | $34.6M | $29.0M | $30.0M |
| Sales, general & admin | $31.3M | $28.6M | $22.9M | $20.0M | $19.4M | $23.3M | $13.2M | $11.2M | $10.0M | $10.1M | $9.7M |
| Total operating expenses | $43.4M | $42.4M | $1.1M | $28.1M | $26.9M | $29.5M | $20.4M | $16.4M | $16.3M | $15.5M | $16.1M |
| Operating income | $34.8M | $21.5M | $21.1M | $21.8M | $20.1M | $10.0M | $14.4M | $17.4M | $18.3M | $13.5M | $14.0M |
| Interest expense | $15.3M | $12.6M | $11.3M | $10.0M | $11.9M | $11.4M | — | $12.5M | $13.4M | $12.1M | $12.8M |
| Income before taxes | $19.3M | $8.6M | $13.6M | $11.9M | $8.6M | −$1.5M | $2.0M | $5.2M | $4.9M | $2.2M | $1.4M |
| Income taxes | $5.2M | $838,000 | $5.8M | $4.2M | $1.8M | $3.3M | $295,274 | $933,000 | $312,000 | $87,000 | −$3.3M |
| Net income | $14.0M | $7.8M | $7.7M | $7.6M | $6.8M | −$4.8M | $1.7M | $4.3M | $4.6M | $2.1M | $4.7M |
| EBITDA | $49.7M | $37.9M | $34.0M | $32.8M | $30.2M | $19.3M | $23.4M | $25.9M | $26.6M | $21.6M | $21.6M |
| EPS (diluted) | $0.14 | $0.06 | $0.11 | $0.10 | $0.10 | $0.05 | — | — | — | — | — |
| Gross margin | 43.0% | 42.2% | 16.5% | 41.0% | 40.9% | 39.4% | 38.1% | 39.3% | 40.7% | 34.9% | 39.0% |
| Operating margin | 19.1% | 14.2% | 15.7% | 17.9% | 17.5% | 10.0% | 15.8% | 20.2% | 21.5% | 16.3% | 18.2% |
| Net margin | 7.7% | 5.2% | 5.7% | 6.3% | 5.9% | −4.8% | 1.8% | 5.0% | 5.4% | 2.6% | 6.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KRMN's financial statements (latest annual report filed April 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KRMN financial results
In fiscal year 2025 (ended December 31, 2025), Karman reported revenue of $471.5 million, up 36.6% from the year before. It had net income of $17.4 million (up 36.7%), a net profit margin of 3.7%. Diluted earnings per share came to $0.36.
See the KRMN stock overview for the latest quote and news, or the KRMN chart for price history and technical indicators.
KRMN income statement FAQ
What is Karman's annual revenue?
Karman reported total revenue of $471.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 36.6% from $345.3 million the previous year.
Is Karman profitable?
Yes. Karman reported net income of $17.4 million in fiscal 2025, a net profit margin of 3.7%; its operating margin was 15.5%.
What is Karman's gross margin?
Karman's gross margin was 40.3% in fiscal 2025: for every $100 of revenue, Karman kept $40 after the direct cost of its products and services.
What are Karman's earnings per share?
Karman earned $0.36 per diluted share in fiscal 2025, compared with $0.10 a year earlier.
When will Karman report its next earnings?
Karman is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Karman's fiscal year end?
Karman's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 3, 2026.