DEFSEC Technologies Inc.

DEFSEC Technologies Inc. announced a registered direct offering to raise approximately CAD$2.5 million in gross proceeds. The offering involves the sale of 673,006 common shares at CAD$3.74 per share, alongside a concurrent private placement of unregistered warrants to purchase an equal number of common shares at an exercise price of CAD$4.39. The company intends to use the net proceeds for working capital and general corporate purposes, with H.C. Wainwright & Co. serving as the exclusive placement agent.

DEFSEC Technologies Inc. reported a net loss of $4.1 million for the six months ended March 31, 2026, an improvement from the $4.9 million loss in the prior year. Revenue increased by 59.5% to $3.4 million. Despite revenue growth, the company continues to incur significant losses and negative operating cash flows, leading to a material uncertainty regarding its ability to continue as a going concern.

DEFSEC Technologies Inc. announced strong second-quarter fiscal 2026 results, with total revenue increasing by 68% and government program revenue up 81% year-over-year. The company also achieved significant product milestones, including the commercial launch of ARWEN® 40mm baton ammunition, the first shipment of the PARA SHOTTM system, and the commercial release of DEFSEC LightningTM SaaS. Annualized defense program billings reached approximately $9.41 million, reflecting continued growth in its defense software business.

DEFSEC Technologies Inc. announced the commercial release of its Lightning™ real-time situational awareness system, a cloud-hosted SaaS platform designed for faster, coordinated response during critical incidents. The system, based on the proven Team Awareness Kit (TAK) software, is compatible with existing smart devices and is already onboarding its first subscription customer, an Ontario border police agency. The company estimates a significant addressable market for public safety and defense applications, with annual recurring revenue opportunities ranging from CAD $140 million for police to over CAD $1.5 billion for total first responders in North America.