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NUKK

Nukkleus Inc.

NUKK

Nukkleus Inc. • NASDAQ
$5.55 ▼ -3.14% (-0.18)
Market Cap $92.38 M
52w High $78.32
52w Low $1.34
Dividend Yield 0%
P/E -1.13
Volume 668.92K
Outstanding Shares 16.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $0 $4.772M ▲ $-16.365M ▼ 0% $-2.02 ▼ $-16.254M ▼
Q3-2025 $0 $1.048M ▼ $3.019M ▼ 0% $0.58 ▼ $3.462M ▼
Q2-2025 $0 $1.507M ▼ $102.958M ▲ 0% $20.76 ▲ $103.475M ▲
Q1-2025 $0 ▼ $4.524M ▲ $-160.788M ▼ 0% ▼ $-51.96 ▼ $-160.191M ▼
Q4-2024 $236.099K $1.637M $4.455M 1.887K% $0.31 $4.938M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $7.611M ▲ $13.288M ▲ $43.706M ▼ $-30.418M ▲
Q3-2025 $1.52M ▼ $7.147M ▼ $60.531M ▼ $-53.384M ▲
Q2-2025 $4.463M ▼ $8.602M ▼ $65.819M ▼ $-57.217M ▲
Q1-2025 $6.898M ▲ $9.109M ▲ $172.459M ▲ $-163.35M ▼
Q4-2024 $619.039K $984.999K $8.083M $-7.098M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-16.305M ▼ $-2.506M ▼ $-2.004M ▼ $9.225M ▲ $4.738M ▲ $-2.509M ▼
Q3-2025 $3.237M ▼ $-1.352M ▼ $-704.626K ▲ $-878K ▼ $-2.943M ▲ $-1.357M ▼
Q2-2025 $103.141M ▲ $-1.342M ▼ $-810.221K ▲ $0 ▼ $-3.395M ▼ $-1.352M ▼
Q1-2025 $-160.788M ▼ $-340K ▲ $-936K ▼ $9.063M ▲ $7.822M ▲ $-340K ▲
Q4-2024 $4.455M $-1.199M $1.086K $703.58K $-503.313K $-1.199M

Revenue by Products

Product Q4-2022Q1-2023Q2-2023Q3-2023
Financial Services Member
Financial Services Member
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Nukkleus currently looks more like an early‑stage platform than an established operating business. Reported revenue is tiny and hasn’t really grown, while operating and net results have been consistently negative. Losses appear driven by overhead and investment in the new defense and aerospace strategy rather than by a mature, scaled product line. The large swings in per‑share loss are also being distorted by share structure changes and reverse splits, so the trend in underlying profitability is weak but the per‑share figures overstate the damage. Overall, the income statement tells the story of a company still in the build‑out phase, with costs running well ahead of meaningful commercial traction.

Balance Sheet

Balance Sheet The balance sheet is very light and looks fragile. Total assets are minimal and have actually drifted down, while shareholder equity has flipped from slightly positive to negative, signaling accumulated losses that are not yet backed by substantial hard assets or cash. On the other hand, reported debt is essentially zero, so the company is not burdened by traditional loans or bonds. The main concern here is not leverage but the small capital base: Nukkleus has limited balance‑sheet strength to absorb setbacks or fund aggressive growth without new external financing.

Cash Flow

Cash Flow The cash flow line items are effectively flat, which usually means either limited operating activity, incomplete disclosure at this granularity, or both. There is no visible evidence of strong internally generated cash, and also no sign of large investments in physical assets. That fits with a holding‑company model relying on acquisitions and equity funding rather than heavy in‑house spending. The key implication is that the business does not yet appear self‑funding; it is likely dependent on capital raises, deal structures, or subsidiary performance to support ongoing operations and growth plans.

Competitive Edge

Competitive Edge Competitively, Nukkleus is trying to carve out a niche as a consolidator of specialized defense technology suppliers rather than a single‑product software firm. Its access to the Israeli defense ecosystem, involvement in the Iron Dome supply chain, and relationships with established players like Rafael and Elbit give it credibility and potential deal flow that would be hard for a new entrant to replicate. At the same time, the company is very small relative to major defense contractors and is highly dependent on a few key programs, customers, and jurisdictions. Regulatory risk, geopolitical shifts, and the challenges of integrating multiple acquired businesses all weigh on its competitive durability. Execution and contract wins will largely determine whether its strategic position becomes a true moat or remains a collection of promising but vulnerable assets.

Innovation and R&D

Innovation and R&D Innovation is the clear bright spot in Nukkleus’s story. Through its subsidiaries, it is positioned in several advanced defense technologies: generative AI and synthetic data for training, high‑fidelity simulation and visualization, drone payload and counter‑drone systems, GPS‑denied navigation, and command‑and‑control solutions. These are high‑growth, mission‑critical areas where strong technology can command attractive interest from defense customers. However, most of this innovation sits within acquired entities, so the challenge is less about raw R&D capability and more about scaling, productizing, and integrating these technologies into larger defense programs and exportable solutions, particularly in the U.S. market.

Summary

Overall, Nukkleus looks like a high‑concept, early‑stage defense technology platform with a weak current financial base. The financial statements show negligible revenue, consistent losses, and a thin balance sheet, suggesting dependence on external capital and successful deal‑making rather than on mature cash‑generating operations. Against this, the company has assembled an intriguing portfolio of niche defense technologies and supply‑chain positions tied to well‑known systems like Iron Dome, supported by relationships in an innovative defense ecosystem. The main questions going forward are whether it can convert these strategic assets into stable, diversified contracts and cash flows, manage the complexity of its roll‑up model, and reinforce its balance sheet enough to support continued growth through what is likely to be a long commercialization and integration cycle.

NEWS

November 28, 2025 · 2:05 PM UTC

SC II Acquisition Corp. Announces Completion of $172.5 Million IPO

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November 28, 2025 · 1:05 PM UTC

Nukkleus Inc. Announces Closing of SC II, its Corporate-Sponsored SPAC

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November 26, 2025 · 8:45 AM UTC

Nukkleus Inc. Announces Pricing of SC II, its Corporate-Sponsored SPAC, at $10.00 per Unit

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November 25, 2025 · 9:29 AM UTC

Historic Iron Dome Funding Boost Creates New Opportunities for Rimon Technologies, Reinforcing Strategic Value of Nukkleus' Pending Acquisition

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November 13, 2025 · 9:00 AM UTC

Nukkleus Inc. to Showcase Integrated A&D Technologies at Milipol Paris 2025, Highlighting its Role as an Emerging Leader in A&D Technology

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