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DFSC

DEFSEC Technologies Inc.

DFSC

DEFSEC Technologies Inc. • NASDAQ
$3.53 ▲ 2.02% (+0.07)
Market Cap $4.93 M
52w High $31.50
52w Low $0.22
Dividend Yield 0%
P/E -0.11
Volume 24.35K
Outstanding Shares 1.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.418M ▲ $2.222M ▲ $-2.308M ▼ -162.813% ▼ $-3.69 ▲ $-1.927M ▼
Q2-2025 $1.264M ▲ $2.049M ▼ $-1.46M ▲ -115.453% ▲ $-6.16 ▲ $-1.125M ▲
Q1-2025 $887.658K ▲ $3.321M ▲ $-3.457M ▼ -389.453% ▲ $-23.94 ▼ $-3.079M ▼
Q4-2024 $559.92K ▲ $2.419M ▲ $-2.337M ▼ -417.315% ▼ $0 ▲ $-1.962M ▼
Q3-2024 $329.476K $2.226M $-1.162M -352.668% $-27.3 $-775.937K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.543M ▼ $10.106M ▲ $5.521M ▲ $4.585M ▼
Q2-2025 $4.409M ▲ $9.587M ▲ $2.805M ▼ $6.783M ▲
Q1-2025 $2.854M ▲ $8.07M ▲ $3.058M ▼ $5.013M ▲
Q4-2024 $256.828K ▼ $5.617M ▼ $4.249M ▲ $1.368M ▼
Q3-2024 $1.179M $6.742M $3.595M $3.147M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.301M ▼ $-1.731M ▼ $-88.14K ▼ $-46.382K ▼ $-1.866M ▼ $-1.819M ▼
Q2-2025 $-1.46M ▲ $-1.608M ▲ $-6.815K ▲ $3.169M ▼ $1.555M ▼ $-1.615M ▲
Q1-2025 $-3.457M ▼ $-3.244M ▼ $-51.895K ▼ $5.894M ▲ $2.597M ▲ $-3.296M ▼
Q4-2024 $-2.337M ▼ $-2.184M ▼ $-15.868K ▲ $1.278M ▼ $-922.051K ▼ $-2.2M ▼
Q3-2024 $-1.162M $-1.897M $-25.878K $2.838M $915.145K $-1.923M

Five-Year Company Overview

Income Statement

Income Statement DFSC looks like a very early‑stage, pre‑revenue company. Over the past several years it has reported essentially no sales and small but recurring losses. That pattern suggests the business is still in a development phase, funding overhead and possibly some R&D without yet converting that work into paying contracts. The lack of gross profit and operating profit from sales means the economic engine of the business is not proven yet, and results are driven almost entirely by fixed costs rather than commercial activity.

Balance Sheet

Balance Sheet The balance sheet is extremely light, with only a small pool of assets, very limited cash, and no visible debt. Equity is close to zero, which implies the company has only a thin capital cushion. On the positive side, the absence of debt reduces financial leverage risk. On the negative side, the tiny asset and equity base highlights that DFSC is operating on a shoestring and will likely depend on outside funding or future contracts to scale up meaningfully.

Cash Flow

Cash Flow Cash flows from operations have been modestly negative, reflecting cash burn to keep the company running despite no revenue. Free cash flow is also negative, but there is little to no spending on long‑lived assets, which fits a lean, early‑stage profile. This means most cash use is likely going toward people, research, and basic corporate costs. The key question going forward is whether DFSC can secure enough funding or contract inflows to sustain this burn and eventually transition to self‑funded operations.

Competitive Edge

Competitive Edge Based on the sector description, DFSC appears positioned conceptually as a niche defense‑technology player, where competitive strength typically comes from proprietary tech, close government relationships, and the ability to execute on complex, security‑sensitive projects. In practice, the company’s current financial scale suggests it is far from the size and reach of major defense contractors, which is both a challenge and an opportunity: it may be more agile and innovative, but it will have to work harder to win trust, certifications, and long‑term contracts in a market dominated by large incumbents with deep track records.

Innovation and R&D

Innovation and R&D The accompanying research indicates a focus on leading‑edge areas such as artificial intelligence, autonomous systems, cybersecurity, advanced sensors, and potentially directed‑energy or hypersonic technologies. These are among the fastest‑growing and most strategically important parts of the defense ecosystem, which is encouraging from an innovation standpoint. However, DFSC’s tiny financial footprint suggests R&D is likely at a very early or conceptual stage; the critical milestone will be turning these ideas into validated products, securing intellectual property, and winning real contracts rather than just working on promising technology themes.

Summary

Overall, DFSC looks like an embryonic defense‑technology venture: no meaningful revenue yet, ongoing small losses, and a very thin capital base, but operating in a sector where advanced AI, autonomy, and cyber capabilities are in high demand. The main opportunity is leverage to powerful long‑term trends in defense modernization. The main risks are execution and funding: the company must prove its technology, win government or defense‑related customers, and strengthen its balance sheet before it can resemble a stable, scalable defense contractor. At this stage, it is much closer to a speculative development‑stage project than to an established operating business.

NEWS

October 29, 2025 · 7:00 AM UTC

DEFSEC Technologies To Present at ThinkEquity Investor Conference New York City, October 30, 2025

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