Under last season's guise as Lotus, and ahead of only their second campaign in F1, there were those within the team who suggested an eighth-place finish in the constructors' championship was on the cards.
Instead, the stark reality was the team again finished without a point, although at least claimed 10th to ensure they will receive a share of revenue when it is divided up by F1 supremo Bernie Ecclestone.
So on the day of officially launching their latest challenger for 2012, the CT01 - Caterham were forced to issue pictures yesterday due to social media leaks - there is simply a quiet confidence from within the team.
Asked what the targets for the year were, technical chief Mike Gascoyne said: "We need to see the car on track first and get feedback from the first tests.
"Until we run the car we only have numbers and simulation data to work with.
"But every team wants to move up the grid and we're no different.
"We finished 10th in the last two years, which has been our target, but now I think it's time we moved forward again.
"Let's see what happens when we get out on track."
Caterham were the first team to pass all the required FIA crash tests that for the first time this year have to be completed before the first test rather than the opening race.
Gascoyne has confirmed the car will be ready to run when pre-season testing starts in Jerez on February 7.
"The car build has gone very smoothly," added Gascoyne.
"I think we'll be able to have a better and more competitive car, and we look forward to getting it out, testing it, and proving what the numbers are telling us."
The benefit for Caterham this season is that blown diffusers are now banned, whilst they will have the KERS power-boost system on the car for the first time.
"The fact (the blown diffuser) is banned this year certainly plays to our advantage," said Gascoyne.
"Other teams had so much more development time. They were able to get more out of it than we were ever able to, so that eliminates a little of the competition in terms of technical development.
"And yes, it's no secret we'll have KERS on the car this year.
"Towards the end of last year it really started to affect us racing with the midfield cars.
"It hurt us in qualifying and in our eventual race positions. At the last race in 2011, Heikki (Kovalainen) made a good start and gained a lot of positions but then lost out by not having KERS.
"Having KERS embedded into our 2012 car is another good step forward for us, so again we have another good reason to be very positive about 2012."
The most significant development on the cars for 2012 is a new style 'stepped' nose where the suspension meets the chassis.
It has been described as looking a little akin to a duck-billed platypus, and in effect has led to many describing the car as 'ugly'.
Gascoyne explained: "The regulations have changed to limit the height of the nosebox to try to ensure noses don't get too high.
"Our challenge is you always want to get the chassis as high as possible to allow clean air flow to the underside of the car, and what you see on the CT01 is our solution to that.
"As we're the first car out it is obviously stirring up a lot of debate.
"But because of the 2012 regulations I think you'll probably be seeing this type of nose on most of the cars this year."