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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 |
|---|---|---|---|---|---|---|
| Revenue | $182.06M | $151.21M | $134.49M | $121.79M | $115.10M | $100.12M |
| Cost of revenue | $103.83M | $87.35M | $80.88M | $71.85M | $68.08M | $60.67M |
| Gross profit | $78.23M | $63.87M | $53.61M | $49.94M | $47.02M | $39.45M |
| Gross margin | 43.0% | 42.2% | 39.9% | 41.0% | 40.9% | 39.4% |
| Selling, general and administrative | $31.34M | $28.64M | $22.94M | $20.00M | $19.43M | $23.29M |
| Operating expenses | $43.41M | $42.41M | $32.55M | $28.13M | $26.92M | $29.49M |
| Operating income | $34.83M | $21.45M | $21.06M | $21.81M | $20.10M | $9.96M |
| Operating margin | 19.1% | 14.2% | 15.7% | 17.9% | 17.5% | 10.0% |
| EBITDA | $50.00M | $38.09M | $33.65M | $32.78M | $29.83M | $19.42M |
| Interest expense | −$15.28M | −$12.65M | −$11.30M | −$10.00M | −$11.89M | −$11.37M |
| Income before taxes | $19.27M | $8.63M | $13.56M | $11.86M | $8.59M | −$1.49M |
| Income taxes | $5.23M | $838.00K | $5.85M | $4.22M | $1.78M | $3.31M |
| Net income | $14.03M | $7.79M | $7.71M | $7.64M | $6.81M | −$4.80M |
| Net margin | 7.7% | 5.2% | 5.7% | 6.3% | 5.9% | -4.8% |
| EPS, basic | $0.11 | $0.06 | $0.06 | $0.06 | $0.05 | −$0.04 |
| EPS, diluted | $0.11 | $0.06 | $0.06 | $0.06 | $0.05 | −$0.04 |
| Diluted shares | 132.53M | 132.53M | 132.47M | 132.32M | 132.32M | 132.18M |
Figures describe Karman shares, not any token. As of Aug 11, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.