# Karman's quarterly bookings include seven-year Lockheed Martin contract Backlog reaches $1.7 billion, up 108% from year-end 2025. Published 2026-11-05 by TGOs. Canonical: https://tgos.io/news/2026/11/05/karmans-quarterly-bookings-include-seven-year-lockheed-martin-contract/ Karman Space & Defense reported nearly $465 million in third-quarter bookings on Nov. 5, 2026.[1] Bookings included a seven-year Lockheed Martin contract supporting the THAAD program.[1] ## Why it matters Backlog reached $1.7 billion at September's end, up 108% from year-end 2025.[1] Karman defines backlog as the value or estimated value of existing contracts less amounts previously invoiced, including purchase orders, long-term agreements and authorizations to proceed.[1] The release does not separate acquired contributions to bookings or backlog.[1] ## Sources 1. Karman Space & Defense Reports Third Quarter Fiscal Year 2026 Financial Results (Exhibit 99.1)