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NASDAQ · SERVICES-PREPACKAGED SOFTWARE · SMALL CAP

Defsec Technologies Inc. DFSC

5 fiscal years on record · CAD · FY2024 reported · SEC filings only
CAD 1.5M
▲ 21.9% YoY
CAD -7.4M
CAD -9.2M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

DEFSEC Technologies develops and commercializes tactical systems for military and security forces and for public safety markets. In fiscal 2025 the DSEF and Land C4ISR contracts made up 12% and 65% of total annual revenue, respectively. Its product and service categories are arranged in three business lines: Less-Lethal, Digitization and Counter-Threat. Its Public Safety offerings include DEFSEC Lightning, a cloud-based platform that gives incident responders TAK-enabled real-time situational awareness as software as a service, with plug-in tools for law enforcement such as ground search and rescue and surveillance tools. Sales of its ARWEN launchers are made directly to law enforcement agencies and other eligible professional users. In counter-threat, the BLDS system detects and can locate lasers and alert ground personnel through the company's networked digitization applications. All current product development is done at its facility in Ottawa. The company was formerly known as KWESST Micro Systems Inc.

Written from the business description in DEFSEC Technologies Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 29 December 2025. Every sentence was checked against that document before publication.

Growth

CAD 1.5M
Revenue, FY2024 · full 5-year series below
Revenue CAD M Net income CAD M
FY2024 · Revenue 1.5 · Net income -7.4
1M2M-5M-10M
201920232024
Compound annual growth
+5.6%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−494 cents
lost on every revenue dollar
Operating margin Net margin
FY2024 · Operating -651.4% · Net -494.4%
-500%-1000%
201920222024
ROE
FY2024 · ROE -280.5%
-100%-200%
201920222024
Three returns, three denominators.

Each CAD of equity lost 280 cents this year.

Cash & shareholders

·
returned in FY2024 · dividends + net buybacks
Free cash flow CAD M
FY2024 · FCF -9.2
-5M-10M
201920222024

Total assetsCAD 5.6M
CashCAD 256,828.00
Gross debtCAD 0.00
Net debtCAD -256,828.00
Current ratio0.62×

Net debt stands at -19% of equity.

The 5-year record

5 fiscal years
Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
DFSC, 5-year financial record
Metric 20242023202220212019
Revenue CAD B0.00.00.00.00.0
Operating income CAD B−0.0−0.0−0.0−0.0−0.0
EBITDA CAD B−0.0−0.0−0.0−0.0◌
Income tax CAD B0.00.0−0.00.00.0
Net income CAD B−0.0−0.0−0.0−0.0−0.0
Free cash flow CAD B−0.0−0.0−0.0−0.0−0.0
EPS, diluted CAD −8.99−22.80−144.05−14.72−4.61
Dividend / sh CAD ◌◌◌◌◌
Payout % — not applicable: no dividend—————
ROE %−280.5——−186.1—
Shares out B0.000.010.00◌0.00

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 28 reconciliationsAUDITED

Reconciled in 5 of the 5 fiscal years we could check. 24 checks were skipped: the balance sheet is not tagged before 2019. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Prepackaged Software
Listed onNASDAQ
Incorporated inoutside the United States — SEC code A1
Fiscal year endsSeptember 30
SEC categoryemerging growth company
Data on record since2019

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