PerpEquities

Equity

Karman Holdings Inc. (KRMN) perpetual futures

KRMN perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade KRMNUSDT.

Karman Holdings Inc. tracked across crypto venues with normalized contract specifications.

$33.35-0.9%NYSE closed
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venue perp mark · MEXC (KRMN/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$84.3K
Open interest
$252.3K
Best liquidity
$0
MEXC
Tightest spread
+414.4 bps
MEXC
Highest volume
$84.3K
MEXC
Settlement mix
USDT · 1/1
Perp/spot vol.
0.00x
Spot volume $129.8M
OI / float
+0.03%
Float $986M
Spot performance
1D-1.34%
5D-9.33%
1M-38.11%
6M-67.72%
YTD-54.83%
1Y-51.90%

Venue matrix

1 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeKRMN/USDTTrading$33.35-16.3% APR
-0.015% every 8h
+414.4 bps$0$84.3K$252.3KUSDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: MEXC

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

KRMN

Tightest spread

KRMN

Highest volume

KRMN

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$4.3B
Updated 1h ago
Revenue
$589.6M
Trailing 12 months
Revenue growth
+57%
Next fiscal year
Profit margin
+6.3%
P/E
114.9
Peer P/E 32.8
Free cash flow
-$27.7M
Trailing 12 months
More metrics
Net income
$37.2M
Trailing 12 months
P/S
7.4
Peer P/E
32.8
Similar listed perps
Revenue estimate
$740.1M
Next fiscal year
Earnings
2026-11-05
Revenue est. $193.1M · Updated 1h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$471.5M
Net margin+3.7%
Free cash flow-$42.5M
Net debt$553.3M
2022$226.3M
2023$280.7M
2024$345.3M
2025$471.5M
PeriodRevenueGrowthNet incomeFCF
2022$226.3M--$14.1M-$27.2M
2023$280.7M+24%$4.4M$3.6M
2024$345.3M+23%$12.7M$11.4M
2025$471.5M+37%$17.4M-$42.5M
PeriodGross marginOperating marginNet marginROEROA
2022+35.8%+9.0%-6.2%-7.9%-2.1%
2023+37.6%+17.3%+1.6%+2.4%+0.6%
2024+38.3%+18.4%+3.7%+6.5%+1.6%
2025+40.3%+15.5%+3.7%+4.5%+1.5%
PeriodCashDebtNet debtCurrent ratio
2022$6.6M$403.6M$397M2.05
2023$5.5M$409.3M$403.9M1.81
2024$11.5M$447.9M$436.3M1.76
2025$34M$587.3M$553.3M3.29
PeriodMarket capEnterprise valueP/SP/E
2022$4B$4.4B17.6-273.2
2023$4B$4.4B14.1910.6
2024$4B$4.4B11.5312.7
2025$9.7B$10.2B20.5562.8
Q3 2024$86M
Q4 2024$91.2M
Q1 2025$100.1M
Q2 2025$115.1M
Q3 2025$121.8M
Q4 2025$134.5M
Q1 2026$151.2M
Q2 2026$182.1M
PeriodRevenueGrowthNet incomeFCF
Q3 2024$86M-$4.3M$5.3M
Q4 2024$91.2M+19%$1.7M$3.4M
Q1 2025$100.1M+21%-$4.8M-$18.6M
Q2 2025$115.1M+35%$6.8M-$21M
Q3 2025$121.8M+42%$7.6M-$6.8M
Q4 2025$134.5M+47%$7.7M$4M
Q1 2026$151.2M+51%$7.8M-$7.2M
Q2 2026$182.1M+58%$14M-$17.7M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+39.3%+20.2%+5.0%+2.2%+0.6%
Q4 2024+38.1%+15.8%+1.8%+0.9%+0.2%
Q1 2025+39.4%+10.0%-4.8%-1.4%-0.5%
Q2 2025+40.9%+17.5%+5.9%+1.9%+0.7%
Q3 2025+41.0%+17.9%+6.3%+2.1%+0.8%
Q4 2025+39.9%+15.7%+5.7%+2.0%+0.7%
Q1 2026+42.2%+14.2%+5.2%+1.9%+0.5%
Q2 2026+43.0%+19.1%+7.7%+3.3%+1.0%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$7.7M$442.7M$435.1M1.87
Q4 2024$11.5M$447.9M$436.3M1.76
Q1 2025$113.7M$419.7M$306M3.34
Q2 2025$27.4M$485.8M$458.3M2.75
Q3 2025$18.7M$483.7M$465M2.86
Q4 2025$34M$587.3M$553.3M3.29
Q1 2026$73.8M$867M$793.2M3.53
Q2 2026$51.7M$875.3M$823.5M3.56
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$4B$4.4B46.2231.2
Q4 2024$4B$4.4B43.5591.5
Q1 2025$4.4B$4.7B44.1-230.2
Q2 2025$6.7B$7.1B57.9245.0
Q3 2025$9.6B$10B78.4312.3
Q4 2025$9.7B$10.2B72.0313.8
Q1 2026$10.6B$11.4B70.2340.3
Q2 2026$6.6B$7.4B36.3113.5

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$182.1MQ2 2026
$45.5M$91M$136.5M$182.1MQ4 2023: $77MQ1 2024: $83MQ2 2024: $85MQ3 2024: $86MQ4 2024: $91.2MQ1 2025: $100.1MQ2 2025: $115.1MQ3 2025: $121.8MQ4 2025: $134.5MQ1 2026: $151.2MQ2 2026: $182.1MQ4 2023Q2 2026
Net income$14MQ2 2026
-$90.5K$4.6M$9.3M$14MQ4 2023: $4.7MQ1 2024: $2.1MQ2 2024: $4.6MQ3 2024: $4.3MQ4 2024: $1.7MQ1 2025: -$4.8MQ2 2025: $6.8MQ3 2025: $7.6MQ4 2025: $7.7MQ1 2026: $7.8MQ2 2026: $14MQ4 2023Q2 2026
EBITDA$34.5MQ2 2026
$9.5M$19M$28.4M$37.9MQ4 2023: $21.6MQ1 2024: $21.6MQ2 2024: $26.6MQ3 2024: $25.9MQ4 2024: $24.9MQ1 2025: $19.3MQ2 2025: $30.2MQ3 2025: $32.8MQ4 2025: $37.5MQ1 2026: $37.9MQ2 2026: $34.5MQ4 2023Q2 2026
Free cash flow-$17.7MQ2 2026
-$14.4M-$7.8M-$1.3M$5.3MQ4 2023: -$5MQ1 2024: $1.5MQ2 2024: $1.1MQ3 2024: $5.3MQ4 2024: $3.4MQ1 2025: -$18.6MQ2 2025: -$21MQ3 2025: -$6.8MQ4 2025: $4MQ1 2026: -$7.2MQ2 2026: -$17.7MQ4 2023Q2 2026
EPS$0.11Q2 2026
$0$0.04$0.07$0.11Q4 2023: $0.04Q1 2024: $0.02Q2 2024: $0.03Q3 2024: $0.03Q4 2024: $0.01Q1 2025: -$0.04Q2 2025: $0.05Q3 2025: $0.06Q4 2025: $0.06Q1 2026: $0.06Q2 2026: $0.11Q4 2023Q2 2026
Cash / Debt$51.7MQ2 2026
$218.8M$437.6M$656.4M$875.3MQ4 2023 · Cash: $5.5MQ4 2023 · Debt: $409.3MQ1 2024 · Cash: $5.5MQ1 2024 · Debt: $0Q3 2024 · Cash: $7.7MQ3 2024 · Debt: $442.7MQ4 2024 · Cash: $11.5MQ4 2024 · Debt: $447.9MQ1 2025 · Cash: $113.7MQ1 2025 · Debt: $419.7MQ2 2025 · Cash: $27.4MQ2 2025 · Debt: $485.8MQ3 2025 · Cash: $18.7MQ3 2025 · Debt: $483.7MQ4 2025 · Cash: $34MQ4 2025 · Debt: $587.3MQ1 2026 · Cash: $73.8MQ1 2026 · Debt: $867MQ2 2026 · Cash: $51.7MQ2 2026 · Debt: $875.3MQ4 2023Q2 2026
CashDebt
Profitability+43.0%Q2 2026
+7.1%+19.1%+31.0%+43.0%Q4 2023 · Gross margin: +39.0%Q1 2024 · Gross margin: +34.9%Q2 2024 · Gross margin: +40.7%Q3 2024 · Gross margin: +39.3%Q4 2024 · Gross margin: +38.1%Q1 2025 · Gross margin: +39.4%Q2 2025 · Gross margin: +40.9%Q3 2025 · Gross margin: +41.0%Q4 2025 · Gross margin: +39.9%Q1 2026 · Gross margin: +42.2%Q2 2026 · Gross margin: +43.0%Q4 2023 · Operating margin: +18.2%Q1 2024 · Operating margin: +16.3%Q2 2024 · Operating margin: +21.5%Q3 2024 · Operating margin: +20.2%Q4 2024 · Operating margin: +15.8%Q1 2025 · Operating margin: +10.0%Q2 2025 · Operating margin: +17.5%Q3 2025 · Operating margin: +17.9%Q4 2025 · Operating margin: +15.7%Q1 2026 · Operating margin: +14.2%Q2 2026 · Operating margin: +19.1%Q4 2023 · Net margin: +6.1%Q1 2024 · Net margin: +2.6%Q2 2024 · Net margin: +5.4%Q3 2024 · Net margin: +5.0%Q4 2024 · Net margin: +1.8%Q1 2025 · Net margin: -4.8%Q2 2025 · Net margin: +5.9%Q3 2025 · Net margin: +6.3%Q4 2025 · Net margin: +5.7%Q1 2026 · Net margin: +5.2%Q2 2026 · Net margin: +7.7%Q4 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+58.2%Q2 2026
+14.5%+29.1%+43.6%+58.2%Q4 2024: +18.5%Q1 2025: +20.6%Q2 2025: +35.3%Q3 2025: +41.7%Q4 2025: +47.4%Q1 2026: +51.0%Q2 2026: +58.2%Q4 2023Q2 2026
Shares outstanding132.5MQ2 2026
33.1M66.3M99.4M132.5MQ4 2023: 132.2MQ1 2024: 123.9MQ2 2024: 132.3MQ3 2024: 132.2MQ4 2024: 132.2MQ1 2025: 132.2MQ2 2025: 132.3MQ3 2025: 132.3MQ4 2025: 132.3MQ1 2026: 132.5MQ2 2026: 132.5MQ4 2023Q2 2026
Valuation113.5Q2 2026
-24.7180.7386.1591.5Q4 2023 · P/E: 211.0Q1 2024 · P/E: 439.3Q2 2024 · P/E: 215.9Q3 2024 · P/E: 231.2Q4 2024 · P/E: 591.5Q1 2025 · P/E: -230.2Q2 2025 · P/E: 245.0Q3 2025 · P/E: 312.3Q4 2025 · P/E: 313.8Q1 2026 · P/E: 340.3Q2 2026 · P/E: 113.5Q4 2023 · P/S: 51.6Q1 2024 · P/S: 44.8Q2 2024 · P/S: 46.8Q3 2024 · P/S: 46.2Q4 2024 · P/S: 43.5Q1 2025 · P/S: 44.1Q2 2025 · P/S: 57.9Q3 2025 · P/S: 78.4Q4 2025 · P/S: 72.0Q1 2026 · P/S: 70.2Q2 2026 · P/S: 36.3Q4 2023Q2 2026
P/EP/S
Revenue$471.5M2025
$117.9M$235.8M$353.6M$471.5M2022: $226.3M2023: $280.7M2024: $345.3M2025: $471.5M20222025
Net income$17.4M2025
-$6.2M$1.6M$9.5M$17.4M2022: -$14.1M2023: $4.4M2024: $12.7M2025: $17.4M20222025
EBITDA$119.8M2025
$30M$59.9M$89.9M$119.8M2022: $55.2M2023: $76.2M2024: $97.9M2025: $119.8M20222025
Free cash flow-$42.5M2025
-$29M-$15.5M-$2.1M$11.4M2022: -$27.2M2023: $3.6M2024: $11.4M2025: -$42.5M20222025
EPS$0.132025
-$0.05$0.01$0.07$0.132022: -$0.112023: $0.032024: $0.12025: $0.1320222025
Cash / Debt$34M2025
$146.8M$293.7M$440.5M$587.3M2022 · Cash: $6.6M2022 · Debt: $403.6M2023 · Cash: $5.5M2023 · Debt: $409.3M2024 · Cash: $11.5M2024 · Debt: $447.9M2025 · Cash: $34M2025 · Debt: $587.3M20222025
CashDebt
Profitability+40.3%2025
+5.4%+17.0%+28.7%+40.3%2022 · Gross margin: +35.8%2023 · Gross margin: +37.6%2024 · Gross margin: +38.3%2025 · Gross margin: +40.3%2022 · Operating margin: +9.0%2023 · Operating margin: +17.3%2024 · Operating margin: +18.4%2025 · Operating margin: +15.5%2022 · Net margin: -6.2%2023 · Net margin: +1.6%2024 · Net margin: +3.7%2025 · Net margin: +3.7%20222025
Gross marginOperating marginNet margin
Revenue growth+36.6%2025
+9.1%+18.3%+27.4%+36.6%2023: +24.0%2024: +23.0%2025: +36.6%20222025
Shares outstanding132.3M2025
33.1M66.2M99.2M132.3M2022: 132.2M2023: 132.2M2024: 132.2M2025: 132.3M20222025
Valuation562.82025
22.8318.7614.7910.62022 · P/E: -273.22023 · P/E: 910.62024 · P/E: 312.72025 · P/E: 562.82022 · P/S: 17.62023 · P/S: 14.12024 · P/S: 11.52025 · P/S: 20.520222025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-05
Revenue est. $193.1M · Updated 1h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20260.59$740.1M+57%7
FY 20270.96$945.5M+101%7
FY 20281.37$1.2B+155%4
FY 20290.00$1.4B+187%1
FY 20300.00$1.6B+244%1
Q1 20270.19$208.6M+38%2

Company events

6
2026-11-05EarningsActual - / Estimate 0.15-
2026-08-06EarningsActual 0.14 / Estimate 0.13Beat
2026-05-12EarningsActual 0.11 / Estimate 0.12Miss
2026-03-25EarningsActual 0.11 / Estimate 0.11In line
2025-11-06EarningsActual 0.1 / Estimate 0.11Miss
2025-08-07EarningsActual 0.1 / Estimate 0.11Miss

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering KRMN have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings73109
Analysts1214
Buy / hold / sell67 / 1 / 5103 / 1 / 5
Upgrades / downgrades / initiations1 / 0 / 71 / 0 / 13
Price targets hit / missed0 / 54 (0%)0 / 76 (0%)
Avg. return after a rating (TipRanks)-61.3%-52.0%
Best / worst call-10.3% / -75.4%-5.2% / -75.4%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Sep 14, 2026Unknown AnalystGuggenheimBuyInitiated$63.00
Sep 11, 2026Amit DaryananiEvercore ISIBuyMaintained$80.00
Sep 10, 2026Louie DiPalmaWilliam BlairBuyMaintained
Sep 2, 2026Louie DiPalmaWilliam BlairBuyMaintained
Aug 13, 2026Alexandra ManderyTruist FinancialBuyMaintained$85.00

TipRanks data via FMP · computed Sep 23, 2026 · 73 ratings

Frequently asked questions

Where can I trade KRMN perpetual futures?

Karman Holdings Inc. (KRMN) perpetual futures trade on 1 crypto venues, including MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade KRMN around the clock?

Yes. Unlike the underlying stock, KRMN perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on KRMN perpetuals?

Right now the KRMN perp funding rate is -16.3% annualized (venue median), ranging from -16.3% to -16.3% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the KRMN perp price compare to the Karman Holdings Inc. stock?

The venue-median KRMN perp mark is $33.4 versus a reference stock price of $33.4, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a KRMN perpetual future?

A KRMN perpetual is a derivative that tracks the price of Karman Holdings Inc. with no expiry date. It lets you take long or short exposure to Karman Holdings Inc. on crypto venues, around the clock.

What is KRMNUSDT perpetual?

KRMNUSDT is the symbol most crypto exchanges use for the Karman Holdings Inc. perpetual settled in USDT (Tether). It tracks the KRMN share price through an index, trades 24/7 with leverage and never expires.

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