Every material Form 8-K Karman filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Karman Space & Defense reported third-quarter 2026 revenue of $201.6 million, up 65.6% from a year earlier, and net income of $20.9 million, or $0.16 per diluted share, versus $0.06 a year earlier. The company raised its fiscal 2026 revenue outlook to $755 million to $760 million and its adjusted EBITDA outlook to $225 million to $227 million, which gives shareholders a higher expected full-year range.
Q3 revenue $201.6 million, up 65.6%; organic growth of 25% per the company
Net income $20.9 million ($0.16 per diluted share) vs. $7.6 million ($0.06) a year earlier
Adjusted EBITDA $60.5 million, up from $37.7 million; adjusted EPS $0.19 vs. $0.10
Fiscal 2026 guidance raised to $755M-$760M revenue and $225M-$227M adjusted EBITDA; backlog $1.7 billion at September 30, 2026
Karman Holdings completed its previously announced acquisition of Walker Precision Engineering for approximately $95 million, or £70 million, in cash, subject to customary adjustments. To help fund the deal, the company increased its term loans by $100 million under a Sixth Amendment to its Credit Agreement, bringing total original term loan principal to $863,961,000. The filing gives no financial results for Walker or for Karman, so its effect on earnings cannot be assessed from this document.
Acquisition of Walker closed August 28, 2026, through a wholly owned subsidiary for about $95 million (£70 million) in cash
Sixth Amendment to the Credit Agreement, dated August 26, 2026, increased term loans by $100,000,000 to a total original principal of $863,961,000
Walker supplies missile seekers, guidance systems and control systems on more than 25 EU tactical missile, air and defense programs
Karman has 17 locations across eight U.S. states; the deal adds a European footprint
Karman Holdings Inc. said Chris Boynton, previously Executive Vice President and CFO of Battelle, will become Executive Vice President and CFO on September 14, 2026. Mike Willis, the current CFO, will step down from that role on the same date and leave the company by year-end after a phased transition. The company said the change follows succession planning as it grows after its February 2025 initial public offering, and the filing sets out the terms of Boynton's offer letter.
Boynton's offer letter sets an annual base salary of $750,000 and a one-time sign-on bonus of $500,000.
Target annual cash incentive is 100% of base salary, with a stretch target of 150%.
His initial 2026 long-term incentive grant is 37,860 shares, 70% performance stock units and 30% restricted stock units.
Severance is 100% of base salary plus target bonus over 12 months, or 18 months of base salary in a lump sum plus target bonus if terminated within 12 months after a change in control.
Karman Space & Defense reported record second-quarter 2026 revenue of $182.1 million, up 58.2% from a year earlier, and net income of $14.0 million, up 106.1%. The company raised its full-year 2026 revenue and adjusted EBITDA guidance, which the filing says is a positive signal for shareholders, though the results depend on the company's forward-looking assumptions.
Q2 2026 revenue was $182.1 million, up 58.2% year over year, with organic growth of 24.4%.
Q2 2026 net income was $14.0 million, or $0.11 per diluted share, compared with $0.05 a year earlier.
Full-year 2026 revenue guidance was raised to $730 million to $745 million, and adjusted EBITDA guidance to $215.0 million to $222.5 million.
Backlog reached $1.3 billion as of June 30, 2026, up 65% from the end of fiscal 2025.
Karman Holdings entered into a Fifth Amendment to its credit agreement with Citibank, N.A. as administrative agent, dated August 3, 2026. The amendment refinanced $763,961,000 of existing term loans at a rate 50 basis points lower, now SOFR plus 2.25%, and lowered the revolving credit facility rates by 50 basis points at each leverage level.
Term loans refinanced in an aggregate principal amount of $763,961,000
Term loan rate reduced 50 basis points to SOFR plus 2.25%
Revolving credit facility rates cut 50 basis points at each leverage level; highest level now SOFR plus 2.00%
Other credit agreement terms remain unchanged, per the filing
Selling stockholders of Karman Holdings Inc. (NYSE: KRMN) agreed to sell 14,000,000 shares at $61.00 each in an underwritten offering that closed June 1, 2026. Karman is not selling any shares and receives no proceeds, so the company does not raise capital, but the sale increases the float available to trade and the company has agreed to a 90-day restriction on its own share sales.
Offering size rose to 14,000,000 shares from the 13,500,000 originally proposed, at $61.00 per share.
Selling stockholders expected gross proceeds of about $854 million before underwriting discounts and expenses; Karman received none.
Underwriters hold a 30-day option to buy up to 2,100,000 additional shares; the company agreed not to sell shares for 90 days from May 28, 2026, subject to exceptions.
Karman said its active pipeline was about $3 billion as of May 25, 2026, versus about $1 billion as of March 31, 2025; the company describes these figures as estimates.
Karman Holdings reported first-quarter fiscal 2026 revenue of $151.2 million, up 51.0% from a year earlier, and swung to net income of $7.8 million from a net loss of $4.8 million. The company raised its full-year 2026 outlook to $720 million to $735 million in revenue and $208.5 million to $219.5 million in non-GAAP adjusted EBITDA, which shareholders will see as a sign of stronger expected operating results for the year.
Q1 2026 revenue was $151.2 million, up 51.0% from $100.1 million in Q1 2025.
Net income was $7.8 million, or $0.06 per diluted share, versus a net loss of $4.8 million, or $0.04 per share, a year earlier.
Non-GAAP adjusted EBITDA was $44.8 million, up from $30.3 million, and backlog reached $1.0 billion as of March 31, 2026.
Full-year 2026 revenue and adjusted EBITDA guidance were both increased, excluding future acquisitions.
Karman Holdings reported fourth-quarter and full-year 2025 results, with revenue and net income both higher than in 2024. The company also raised its full-year 2026 guidance for revenue and adjusted EBITDA, citing the Seemann Composites and MSC acquisitions and higher demand.
Q4 2025 revenue was $134.5 million, up 47.4% year over year, and Q4 net income was $7.7 million, up from $1.7 million
Full-year 2025 revenue was $471.5 million, up 36.6%, and net income was $17.4 million, or $0.13 per diluted share
2026 outlook raised to $715 million to $730 million in revenue and $207 million to $218 million in non-GAAP adjusted EBITDA, excluding future acquisitions
Backlog was $801.1 million at December 31, 2025, and the company said it exceeded $1 billion as of March 20, 2026
Karman Holdings Inc. entered into a Fourth Amendment to its Credit Agreement with Citibank, N.A. as administrative and collateral agent, dated March 9, 2026. The amendment increases total revolving credit commitments by $100 million to $150 million and removes the $50 million cap on incremental revolving commitments. The filing says other terms of the credit agreement remain unchanged, and the change gives the company more borrowing capacity under its existing facility.
Revolving credit commitments increased by $100 million, to a total of $150 million.
The $50 million cap on incremental revolving credit commitments was removed.
Fourth Amendment dated March 9, 2026; filed as Exhibit 10.1 and signed by CFO Mike Willis on March 13, 2026.
Karman Holdings announced that CEO Anthony Koblinski will retire as chief executive effective March 23, 2026, and will remain on the board. The board appointed Jonathan Rambeau, former president of L3Harris Technologies' Communications & Spectrum Dominance segment, as CEO effective the same date. The filing includes no financial results, and the pay terms show the scale of the new CEO's compensation.
Jon Rambeau becomes CEO effective March 23, 2026; the board approved the appointment March 6, 2026.
Rambeau's base salary is not less than $975,000, with a target annual bonus of 150% of base salary.
Rambeau receives a one-time RSU grant with a grant date value of $6,500,000 that vests on the third anniversary of his start date.
Koblinski's retirement is not due to any disagreement with the company; he continues as a board member.
Karman Holdings completed its acquisition of Seemann Composites and Materials Sciences on February 3, 2026, for $210 million in cash plus $10 million in common stock, subject to adjustments. The company also amended its credit agreement, refinancing $502.8 million of term loans at a rate 75 basis points lower and adding $265 million, for a total term loan principal of $767.8 million, which funded the deal and added working capital.
Acquisition consideration: $210 million cash and $10 million in common stock, subject to customary purchase price adjustments
Term loans refinanced at $502.8 million and increased by $265 million to $767.8 million total principal
Term loan rate reduced 75 basis points to SOFR plus 2.75%; revolver pricing cut 75 basis points at each leverage level
Company expects the acquisitions to be immediately accretive in 2026 to revenue growth, EBITDA, earnings per share and cash flow
Karman raised its fiscal 2025 revenue and adjusted EBITDA guidance and set fiscal 2026 guidance that includes nine months of projected results from the Seemann and MSC acquisition. The company is acquiring Seemann Composites and MSC for $220 million, with closing expected in the first quarter of 2026, subject to customary conditions and regulatory approvals. Management says the deal is immediately accretive in 2026 to revenue growth, earnings per share and cash flow, but the company did not reconcile its non-GAAP guidance to GAAP measures.
FY2025 revenue guidance raised to $470 million-$471 million from $461 million-$463 million; adjusted EBITDA raised to $144.5 million-$144.9 million from $142 million-$143 million.
FY2026 guidance: revenue of $700 million-$715 million and adjusted EBITDA of $205 million-$215 million.
Seemann and MSC acquisition: $220 million total consideration, including $210 million in cash and about $10 million in common stock, expected to close in Q1 2026.
Investor conference call and webcast held January 21, 2026, at 1:30 PM PST / 4:30 PM EST.
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