Karman Holdings Inc. · NYSE:KRMN
Karman — Q2 2026 Earnings Presentation
15 slides from Karman's earnings presentation, Aug 6, 2026
Slide 1: Second Quarter Fiscal Year 2026 Earnings Presentation
Second Quarter Fiscal Year 2026 Earnings Presentation August 6, 2026 Jon Rambeau Mike Willis Jonathan Beaudoin Steven Gitlin Chief Executive Officer Chief Financial Officer Chief Operating Officer Senior Vice President, Investor Relations
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Forward-Looking Statements & Non-GAAP Financial Measures 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 stateme
Slide 3: Karman Supports High-Priority Programs across All Physical Domains with Critical Content
Karman Supports High-Priority Programs across All Physical Domains with Critical Content Hypersonics & Strategic Tactical Missiles & Maritime Defense Space & Launch Missile Defense Integrated Defense Market Drivers: Market Drivers: Market Drivers: Market Drivers: Golden Dome Golden Dome Golden
Slide 4: Key Quarterly Achievements Driving Momentum
Key Quarterly Achievements Driving Momentum 20% Sequential 24% YoY Organic $1.3 Billion ~$500 Million Revenue Growth Revenue Growth Record Backlog Record Bookings Expanding Capacity Large Space and Selection of PwC as 1st International with SLC Factory Lauch LTA Auditor Acquisition Strong Execution,
Slide 5: Walker Precision Engineering Acquisition Agreement - First Step in International Expansion
Walker Precision Engineering Acquisition Agreement - First Step in International Expansion • IP-rich content supporting missile targeting, guidance, actuation and sensors • Positions on 25+ defense programs • Supporting European prime contractors • ~300 employees in Scotland, England, Poland 6 AUG,
Slide 6: Second Quarter Fiscal Year 2026 | Key Financial Highlights
Second Quarter Fiscal Year 2026 | Key Financial Highlights Record Revenue Record Gross Profit $182.1M +58% YoY $78.2M +66% YoY Record Adjusted EBITDA Record Adjusted EPS $54.6M +55% YoY $0.14 +43% YoY Record Backlog $1.3B, up 65% from 12/31/25 6 AUG, 2026 ©2026 Karman Space & Defense 6
Slide 7: Strong Financial Results Reflect Operating Effectiveness and Unique Positioning in High-Priority End Markets
Strong Financial Results Reflect Operating Effectiveness and Unique Positioning in High-Priority End Markets For the Three Months Ended Jun. 30, (1) For the Six Months Ended Jun. 30, (1) YoY Growth YoY Growth (In $ millions, except percentages) 2026 2025 2026 2025 Revenue $182.1 $115.1 58% $333.3 $2
Slide 8: Growth Across All End Markets and in Adjusted EBITDA
Growth Across All End Markets and in Adjusted EBITDA Revenue ($M) Adj. EBITDA ($M) & Margin(1) $250 $60 $55 60.00% +55% $182 $200 $50 50.00% +6% $42 $40 $35 $150 $115 $34 $30 40.00% $40 +55% $100 30.7% 30.0% $63 $20 $41 30.00% +24% $50 $10 $35 $43 $0 $0 20.00% Second Qtr. 2025 Second Qtr. 2026 Secon
Slide 9: Raising 2026 Guidance
Raising 2026 Guidance $730 million - $745 million 2026 Revenue Range 57% year over year increase to midpoint of range 2026 Adjusted $215 million - $222.5 million EBITDA Range 51% year over year increase to midpoint of range • 2026 guidance supported by approximately 95% revenue visibility based on b
Slide 10: Karman Redefines Supply Chain Excellence for Space and Defense
Karman Redefines Supply Chain Excellence for Space and Defense Profitable Space & Highly Diverse Merchant Supplier Full Solution Proven Inorganic Defense “Smidcap” Space & Defense of Critical Content Provider Growth Process Growth Company Portfolio Uniquely aligned with From IP-driven design Identif
Slide 11: Financial Tables
Financial Tables
Slide 12: Consolidated Balance Sheets
Consolidated Balance Sheets June 30, December 31, ($ in thousands) 2026 2025 (unaudited) ASSETS Cash and cash equivalents $ 51,741 $ 33,959 Accounts receivable, net 114,960 78,716 Contract assets 187,120 156,298 Inventory 16,299 10,662 Prepaid and other 14,660 11,768 Total current assets 384,780 291
Slide 13: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures For the three months ended June 30, For the six months ended June 30, (unaudited, in thousands, except percent and per share data) 2026 2025 2026 2025 Net income $ 14,032 $ 6,807 $ 21,826 $ 2,009 Income tax provision 5,233 1,784 6,071 5,092 1 Depreciatio
Slide 14: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Footnotes This presentation includes certain non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EPS. We believe the non-GAAP financial measures will help investors understand our financial condition and operating results an
Slide 15: investors@karman-sd.com
SON 6“. ARMAN SPACE & DEFENSE investors@karman-sd.com