A woman can be gentle, or she can possess a sharp investment mindset. Gentleness is a personality trait, while rationality is my approach to the world of wealth.
This is my second time visiting the Met. This time I looked at it more carefully! Seeing the artifacts that have traveled across the ocean is still very impressive.
$KRMN: Karman delivered a clean beat-and-raise print. Bookings hit nearly $500M, roughly 2.7× quarterly revenue.
Revenue reached a record $182.1M, up 58% YoY and about 1% above consensus. Organic growth was 24.4%; acquisitions supplied much of the remaining growth.
Adjusted EBITDA was $54.6M, up 55% and roughly 6% above consensus. Adjusted EPS of $0.14 beat the $0.13 estimate.
Backlog climbed to a record $1.3B, up 65% from year-end, including a large multiyear Space & Launch contract.
Tactical Missiles and Integrated Defense was the standout: revenue rose 55% to $63.0M, driven by UAS, counter-UAS and programs entering production.
Hypersonics and Strategic Missile Defense grew 24% to $43.4M
Space & Launch was softer, up only 6% to $42.1M, with shifting launch schedules offsetting underlying demand.
Management raised FY2026 guidance:
Revenue: $730–745M, from $720–735M
Adjusted EBITDA: $215–222.5M, from $208.5–219.5M
“overpromising and underdelivering”
SpaceX launched ~80-85% of ALL mass to orbit in 2025. To put that in context, China did ~8-10%. One private company outpaced the rest of Earth (far exceeding the two largest superpowers). 165 successful Falcon flights with zero failures. Reusable boosters flying 30+ times…
What absolute shit journalism by Bloomberg. @elonmusk
🚀Space News🚀 On The Space Coast
The Vulcan rocket with the first LEO-optimized Centaur V upper stage is transported to Space Launch Complex-4.
United Launch Alliance (ULA) rolled out a Vulcan rocket to Space Launch Complex (SLC)-41 at Cape Canaveral Space Force Station to undergo an extensive test countdown prior to the inaugural flight from our new launch processing lane dedicated to Amazon.
Vera Rubin NVL72 Compute Tray. Designed to scale.
Assembled in 1 minute. 100% automated. No cables, no hoses, no fans.
A revolutionary new design that means faster ramp and faster time to revenue.