Karman Holdings Inc. · NYSE:KRMN
Karman — William Blair 45th Annual Growth Stock Conference (June 2025)
18 slides from Karman's conference presentation, Jun 5, 2025
Slide 1: William Blair 45th Annual Growth Stock Conference
William Blair 45th Annual Growth Stock Conference June 5,2025 Tony Koblinski Mike Willis Steven Gitlin Chief Executive Officer Chief Financial Officer Vice President Investor Relations
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Pr
Slide 3: Karman is a New Kind of Space & Defense Company
Karman is a New Kind of Space & Defense Company We Rapidly Develop and Produce Affordable, Next-Gen Systems for Space and Near-Peer Threats Merchant supplier to more than 70 prime contractors & more than 100 programs Prime Highly engineered, IP-enabled, integrated space & defense system solutions Co
Slide 4: Track Record of Strong Financial Performance & Customer Value
Track Record of Strong Financial Performance & Customer Value Revenue Broadly Diversified Ability to Increase Speed to ~$345M 2024 Revenue Revenue Base Market and Reduce Costs Positions on over 100 missile & space ~23% growth programs, no program >11% of 2024 revenue For both current and emerging pr
Slide 5: Focused on Serving Prime Contractors in Three High-Priority End Markets
Focused on Serving Prime Contractors in Three High-Priority End Markets Hypersonics & Strategic Missile Defense Tactical Missile & Integrated Defense Systems Space & Launch END MARKETS Hypersonics, missile deterrent technologies Precision guided, small-diameter rocket and missile Traditional and new
Slide 6: Delivering a Broad Range of Mission-Critical Solutions
Delivering a Broad Range of Mission-Critical Solutions Complex, Mission-Critical Systems, Supporting Over 100 Missile, Hypersonic, and Space Programs Deployable Shrouds Integrated Heat Shields Separation & Energetics Missile front-end that survives flight conditions and Designed to withstand extreme
Slide 7: Solving Difficult Customer Challenges with Integrated System Solutions
Solving Difficult Customer Challenges with Integrated System Solutions One-Stop-Shop for Design and Production of Integrated Systems Proven Delivery of Mission-Successful Solutions Increased Speed and Agility Optimized Engineering Resources Hypersonics & SMD Tactical Missiles & IDS Space & L
Slide 8: Design Capabilities Create Significant Competitive Advantage
Design Capabilities Create Significant Competitive Advantage Embedded in the Design Process at the Earliest Stages of a Program, Creating Opportunities to Capture Lasting Positions on Next-Gen Programs Leading Design Capabilities Karman Design Expertise… …Results in Strong Competitive Positioning Ke
Slide 9: Growing Footprint Aligned with Major Industry Centers
Growing Footprint Aligned with Major Industry Centers ~1,200 Talented Employees ~800K Square Ft. Of dedicated space for design and manufacturing ~180+ Engineers Corporate Headquarters Huntington Beach, CA 40+ years Heritage of Mission-Success ©2025 Karman Space & Defense 9
Slide 10: M&A Strategy - MTI's Alignment with Karman
M&A Strategy - MTI’s Alignment with Karman • MTI’s core competencies in hot forging, forming, pressing and machining of refractory metals is additive to the Karman portfolio Adds Complementary, Highly • MTI fills adds capabilities to Karman while opening up the refractory metal market and creates co
Slide 11: M&A Strategy - ISP's Alignment with Karman
M&A Strategy - ISP’s Alignment with Karman • ISP brings propellant technologies, including propellant formulation and energetic cartridge/motor manufacturing that supports expansion of Adds Complementary, High- Karman's current offerings, including launchers, boost motors, rocket assisted take off s
Slide 12: Producing Strong Financial Results
Producing Strong Financial Results Revenue ($M) Commentary YoY Growth (%) $345 • Total Revenue for the year ended December $281 $116 31, 2024 was ~$345M, with a near balanced $226 $95 split from each of our core end markets $80 $115 $74 $86 • 2022 – 2024 revenue CAGR of ~24%, $72 $100 $115 represent
Slide 13: Highly Diversified Revenue Provides Resiliency
Highly Diversified Revenue Provides Resiliency By End Market By Program Program A 11% Space & Hypersonic Program B Launch & SMD 7% 34% 33% Program C 6% 100+ Other Programs Program D 5% Program E 4% Program F 4% Program G Program H4% Program JProgram I 3% 3% 3% Tactical Missiles & IDS 33% Tied to hig
Slide 14: First Quarter Fiscal Year 2025 | Key Financial Highlights
First Quarter Fiscal Year 2025 | Key Financial Highlights Record Revenue Record Gross Profit • $100.1 million • $39.5 million • +21% YoY • +36% YoY Record Adjusted EBITDA & EPS Record Funded Backlog • $30.3 million adjusted EBITDA • $636 million • $0.05 adjusted Earnings Per Share (Fully Diluted) RE
Slide 15: Experienced, Entrepreneurial and Proven Management Team
Experienced, Entrepreneurial and Proven Management Team Tony Koblinski Jonathan Beaudoin Stephanie Sawhill Mike Willis Steven Gitlin CEO COO CGO CFO VP, Investor Relations Defines the company’s vision Oversees top-line business Responsible for business Oversees financial activities and Est
Slide 16: investors@karman-sd.com
Sf 6“. ARMAN SPACE & DEFENSE investors@karman-sd.com
Slide 17: Appendix
KARMAN Appendix
Slide 18: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation For the years ended December 31, 2024 2023 Net income (loss) $12,701,039 $4,359,405 Income tax provision (benefit) 1,627,963 (3,168,821) 1 Depreciation and amortization 32,959,115 27,179,214 Interest expense, net 50,732,903 47,867,005 EBITDA 98,021,020 76,236,803 2 Acq
Karman Holdings — William Blair 45th Annual Growth Stock Conference (June 2025) on 6ix