What is Karman's backlog?

Karman reported $1.50B of remaining performance obligations at 30 Sep 2026, up 180% from a year earlier and up 113% from the previous quarter. That is 2.2 years of trailing revenue already under contract. Book-to-bill last quarter: 4.95.

How fast does Karman's backlog turn into revenue?

Over the last twelve months Karman recognised revenue equal to about 106% of the backlog it started each quarter with.

Karman (KRMN) backlog: remaining performance obligations

How much revenue Karman already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Karman competitor analysis

Karman reported $1.50B of remaining performance obligations at 30 Sep 2026, up 180% from a year earlier and up 113% from the previous quarter. That is 2.2 years of trailing revenue already under contract. Book-to-bill last quarter: 4.95.
Net new backlog added in the latest quarter: $796M.
Over the last twelve months it turned about 106% of its opening backlog into revenue (12-month conversion).
The company reports 15% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 2.8% of the backlog.
Twelve-month book-to-bill: 2.44, i.e. 2.44 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +123 points — orders are running ahead of revenue.
By backlog size it ranks 206th among US filers the cockpit tracks.

Karman backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Coverage	Customer prepayments
30 Sep 2026	$1.50B	$669M	2.2 yrs	$42.5M
30 Jun 2026	$704M	$590M	1.2 yrs	$26.2M
31 Mar 2026	$723M	$523M	1.4 yrs	$25.8M
31 Dec 2025	$551M	$472M	1.2 yrs	$22.8M
30 Sep 2025	$536M	$428M	1.3 yrs	$18.8M
30 Jun 2025	$514M	$392M	1.3 yrs	$19.9M
31 Mar 2025	$436M	$362M	1.2 yrs	$26.0M
31 Dec 2024	$376M	$345M	1.1 yrs	$29.9M

Questions

What is Karman's backlog?: Karman reported $1.50B of remaining performance obligations at 30 Sep 2026, up 180% from a year earlier and up 113% from the previous quarter. That is 2.2 years of trailing revenue already under contract. Book-to-bill last quarter: 4.95.
How fast does Karman's backlog turn into revenue?: Over the last twelve months Karman recognised revenue equal to about 106% of the backlog it started each quarter with.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.