8-KCurrent report
Reg FD disclosure
✓ VerifiedKarman Holdings released a September 16, 2026 investor presentation reporting record backlog of $1.3 billion as of June 30, 2026 and a book-to-bill ratio of ~1.6x over the last 18 months.
Filed Sep 16, 2026 · 06:08 ET
Summary
- Karman Holdings furnished an investor presentation dated September 16, 2026 as Exhibit 99.1 under Item 7.01.
- Total backlog reached a record $1,322M ($1.3 billion) as of June 30, 2026, a ~69% increase (~$398m) since Q4 2024 excluding acquired backlog.
- The presentation reports an organic growth rate of 25%+ for 2025A and 2026E versus a ~18% IPO commitment, and a book-to-bill ratio of ~1.6x over the last 18 months.
- Karman has executed 5 strategic acquisitions since IPO at an average EBITDA multiple of ~10x, including a strategic expansion into the maritime defense market and a UK/Europe footprint.
- 2026 capital expenditures are projected at ~$35 - $38M, with key expansion projects at Skagit, WA, SLC, UT, and Horsham, PA.
- Q2 2026 run-rate EBITDA of acquired businesses was $58 million with net income of $35 million, per the unaudited Appendix A reconciliation.
Key facts
- Record backlog
- $1.3 billion as of June 30, 2026
From the filing for Record backlog
“has reached a record level of $1.3 billion as of June 30, 2026”
- Backlog growth
- ~69% growth
From the filing for Backlog growth
“~$398m increase (~69% growth) in backlog”
- Book-to-bill ratio
- ~1.6x
From the filing for Book-to-bill ratio
“~1.6x book-to-bill ratio over last 18 months”
- Organic growth rate
- 25%+ (2025A and 2026E)
From the filing for Organic growth rate
“25%+ (2025A and 2026E) 1. Organic Growth Rate”
- Acquisitions since IPO
- 5 strategic acquisitions
From the filing for Acquisitions since IPO
“Since IPO, Karman has executed 5 strategic acquisitions”
- EBITDA multiple
- ~10x
From the filing for EBITDA multiple
“EBITDA Multiple ~10x ~10x”
- 2026 capital expenditures
- ~$35 - $38M
From the filing for 2026 capital expenditures
“Capital Expenditures ($M) Key Expansion Projects 2026 Cost Strategic Rationale ~$35 - $38M”
- Adj. EBITDA Margin
- ~30% LTM
From the filing for Adj. EBITDA Margin
“~30%+ ~30% (LTM Adj. EBITDA Margin) 3. Adj. EBITDA Margin”
Why it mattersThe presentation discloses record firm backlog and updated organic growth and acquisition metrics for a defense and space subsystems supplier. It gives investors a mid-quarter view of bookings, capacity investment, and integration of five acquisitions.
- Filed
- Sep 16, 2026
- Accepted
- 2026-09-16 10:08Z
- Period
- Sep 16, 2026
- Accession no.
- 0001193125-26-392480
- Size
- 5.1 MB
- Index
- Filing index