Castellum Business Summary

Castellum, Inc. (CTM) is a technology services firm specializing in cybersecurity, electronic warfare, and software engineering for the U.S. federal government and national security sectors. The company generates revenue primarily through multi-year prime contracts and subcontracts, recently securing a $219 million backlog including major awards from the Naval Air Systems Command (NAVAIR) and the Missile Defense Agency. Its core business segments include C5ISR, intelligence analysis, AI/ML-driven data science, and model-based systems engineering (MBSE). Castellum competes with specialized IT and defense contractors such as Research Solutions, Inc. (RSSS), WidePoint Corporation (WYY), and Unisys Corporation (UIS). Positioned as a debt-free, agile micro-cap, Castellum differentiates itself through a "Phase 2" strategy focused on organic growth and the successful execution of large-scale mission-critical prime contracts, moving away from its early acquisition-heavy startup phase. The company is led by President and CEO Glen R. Ives, a former Naval Aviator and U.S. Naval Academy graduate with 45 years of defense and industry leadership experience. The executive suite includes CFO David T. Bell, a former Deloitte audit partner, and COO Andrew "Drew" Merriman, the former founder of Merrison Technologies. Castellum was co-founded by Mark Fuller and Jay Wright; Wright remains the company’s largest individual shareholder following his transition from executive duties in late 2025. The Board of Directors is chaired by Bernard Champoux, a retired U.S. Army Lieutenant General, and includes independent directors with deep ties to the federal procurement ecosystem. Institutional support is anchored by the Vanguard Group and Essex Investment Management, providing a foundation of professional oversight as the company scales its federal footprint.