Financial Update

• FY26 comparable operating revenue totaled approximately $13.74 million, representing 5 percent growth over FY25 and 78 percent growth since FY22. This measure excludes approximately $1.56 million in non-recurring equipment contributions and other one-time benefits, providing a more consistent comparison of operating performance over time.

• CCAM is in the process of completing its annual audit for FY26. Final audit results are expected later this calendar year with an expected designation of an unqualified opinion. Audited financial statements for FY26 can be provided once received by CCAM.

• CCAM's unrestricted cash position as of September 29, 2026, is and all trade debt is current.

• CCAM is estimated to have a Commonwealth economic impact of $56 million in annual economic activity, supporting more than 230 high-paying jobs in Virginia(*1).

Federal Funding & Workforce Development

• CCAM recognized $5.0M in federal project revenue (61% increase over FY25) and secured approximately $4.7 million in new federal awards during FY26.

• CCAM played a supporting role in developing the regional collaboration and strategy that helped position coalition partners for success, culminating in a $16 million EDA investment in Virginia's end-to-end pharmaceutical manufacturing capabilities.

• In FY26, CCAM grew the region's GO TEC footprint by launching five new Career Connections Labs and adding a sixth school to the initiative. Since late 2022, CCAM's GO TEC leadership has established 13 Career Connections Labs that have reached more than 3,100 students with STEM career experiences. More than 1,000 of those students participated through labs launched under CCAM's FY26 grant initiative.

• The VTOP and State Council of Higher Education for Virginia named CCAM a 2026 Top Employer for Interns. CCAM hosted 11 university interns in summer 2025 and 13 in summer 2026 which produced individual hiring and recognition outcomes.

Business and Capability Development

• Maintained 100% retention of research members during the transition to CCAM's new membership model while generating approximately $5.0 million in industry-supported research activity.

• Expanded industry engagement to more than 30 active opportunities spanning membership, projects, partnerships, and federal collaborations, strengthening the pipeline for future sponsored work and membership growth.

• Advanced Virginia small-business participation in federal manufacturing programs by supporting R3-Digital Sciences' SBIR-funded technology demonstrations, facilitating engagement with Navy technical leaders, and providing access to production-scale manufacturing testbeds.

• Launched CCAM's first multi-member Industry 5.0 collaborative program and established a shared intellectual property framework that enables multiple companies to co-invest in pre-competitive manufacturing research.

• CCAM increased its technical capabilities with two high-temperature furnace test rigs, two wire-arc additive manufacturing cells, expanded in-situ assessment technologies, and a dedicated Industry 5.0 environment for human-centered manufacturing.

• CCAM achieved Cybersecurity Maturity Model Certification (CMMC), Maturity Level 2. CMMC is a Department of War framework that verifies that contractors protect Federal Contract Information (FCI) and Controlled Unclassified Information (CUI).

Key Risks and Mitigation Actions

• Industry Portfolio Transition. A major industry development program is expected to successfully conclude during FY27. CCAM is developing replacement projects, multimember initiatives, and new partner opportunities to sustain growth.

• Federal Portfolio Concentration. CCAM is actively diversifying its federal portfolio across additional agencies, consortia, and manufacturing mission areas.

• Execution and Timing. Larger programs increase execution demands and create timing gaps between award capture and revenue-producing execution. CCAM is strengthening program-delivery capabilities while maturing future opportunities to support continued growth.
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(*1) Linear calculation based on Chmura Economics & Analysis, 2022 report. Chmura’s analysis indicates that each dollar of state funding generates $17.3 in economic impact in the Commonwealth of Virginia.