Karman Holdings Inc.

Our Company specializes in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging, high-priority missile and defense, and space programs. Our integrated payload protection, interstage, and propulsion system solutions are deployed across a wide variety of existing and emerging programs supporting Department of War ("DoW") and space sector initiatives. For the years ending December 31, 2025 and 2024, no single program out of the more than 130 active programs in production and development accounted for more than 12% of our revenue, on average, for those twelve-month periods. Our revenue base is diversified across these active programs, supporting current production and next-generation space, missile, hypersonics, and defense applications. We organize our highly engineered solutions in three key families: Payload Protection and Deployment Systems, Aerodynamic Interstage Systems, and Propulsion Systems. Payload Protection and Deployment Systems include the full design and manufacturing of the top section of a booster, launch vehicle, payload, or missile system. Aerodynamic Interstage Systems support metallic and composite subsystems designed to enhance aerodynamics and enable different modes of interstage separation. Propulsion Systems include integrated solid rocket motors and supporting subsystems, critical subsystems for liquid-fueled rocket motors, launch systems, and ablative composites. We supply our solutions across three growing, core end markets: Hypersonics & Strategic Missile Defense, Tactical Missiles and Integrated Defense Systems, and Space and Launch. We serve a diverse customer base within these end-markets.