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This article first appeared on GuruFocus. Release Date: November 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Record Q3 revenue of $202 million, up 66% year-over-year, with organic growth of 25%. Record backlog of $1.7 billion, more than double year-end 2025, driven by strong bookings of $465 million. Adjusted EBITDA margin of 30% and adjusted EPS of $0.19, nearly double from last year. Free cash flow of $13 million in Q3, with guidance raised to at least $20 million for the second half. Secured a second large long-term agreement valued at $218 million with Lockheed Martin for THAAD, with two more expected this year.
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