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Home CompaniesDEFSEC Technologies Inc.

DEFSEC Technologies Inc.

Industrials Aerospace & Defense
PortfolioPortfolio WatchlistWatchlist
Company price
0.71 CAD -0.08 ( 10.13%)
Last update at 2026-11-05T16:38:00Z
VOLUME
11564
Market Cap
6.46M

Momentum Score

…

DEFSEC Technologies Inc. engages in the development and commercialization of tactical systems for security, and personal defense markets. The company offers DEFSEC Lightning, a military digitization technology; Less-Lethal Munitions Systems, including PARA SHOT, a next-generation less-lethal system and ARWEN, a 40mm munition and new marking cartridge; It also provides BMA-Ready Solutions, including TAK and ATAK, tactical digital fires, battlefield laser detection system, and phantom tactical multi-function electromagnetic spectrum operations system. DEFSEC Technologies Inc. was formerly known as KWESST Micro Systems Inc. and changed its name to DEFSEC Technologies Inc. in June 2025. DEFSEC Technologies Inc. was founded in 2017 and is headquartered in Ottawa, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
0.69
Low
0.80
High
52 Week Price Range
2.29
Low
20.50
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

DEFSEC Technologies Inc. is a Canada-listed small-cap that, based on public disclosures, develops technologies targeted at defence and security markets. Long-term growth drivers may include rising government defence spending, wider adoption of advanced security technologies and potential contract awards, which could support revenue expansion and scalability for a specialist provider.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
0.79
Dividend Yield
-
Revenue TTM
5.36M
Revenue Per Share
5.66
Gross Profit TTM
1.74M
Debt / Equity
-
ROE
-134.43%
Net Debt
2.11M
ROCE
-90.77%
Diluted EPS TTM
-16.03

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Type yearly yearly yearly yearly
Date 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Income before tax -9.63M -7.44M -9.31M -10.57M
Net income -9.63M -7.44M -9.31M -10.52M
Selling general administrative 7.38M 6.65M 9.43M 8.21M
Gross profit 1.74M 0.49M -0.19M 0.18M
Reconciled depreciation 1.08M 1.28M 0.95M 0.33M
Operating income -9.08M -9.80M -12.10M -10.09M
Interest expense 0.25M 0.25M 0.72M 0.51M
Tax provision 0.00M 0.00M 0.00M -0.05M
Interest income 0.08M 0.06M 0.06M 0.01M
Net interest income -0.17M -0.20M -0.67M -0.51M
Total revenue 4.94M 1.50M 1.23M 0.72M
Total operating expenses 14.02M 11.30M 13.34M 10.81M
Cost of revenue 3.20M 1.02M 1.43M 0.54M
Total other income expense net -0.37M 2.56M 3.47M 0.03M
Net income from continuing ops -9.63M -7.44M -9.31M -10.52M
Breakdown 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Type yearly yearly yearly yearly
Date 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total assets 12.92M 5.62M 11.76M 7.32M
Intangible assets 2.39M 3.17M 4.11M 4.74M
Other current assets 0.16M 0.18M 0.56M 0.12M
Total liab 5.12M 4.25M 7.82M 8.33M
Total stockholder equity 7.80M 1.37M 3.94M -1.00M
Other current liab 0.21M 0.85M 4.34M -
Capital stock 47.00M 37.82M 33.38M 19.50M
Retained earnings -52.28M -42.65M -35.22M -25.91M
Cash 6.69M 0.26M 5.41M 0.17M
Total current liabilities 2.92M 2.98M 6.38M 6.93M
Net debt - - - 2.11M
Short long term debt - - - 2.20M
Total current assets 8.95M 1.84M 6.84M 1.52M
Net receivables 1.35M 0.46M 0.07M 0.11M
Long term debt - - - 0.08M
Inventory 0.52M 0.53M 0.54M 0.39M
Accounts payable 0.41M 0.88M 0.37M 2.29M
Non current assets total 3.98M 3.77M 4.92M 5.81M
Capital lease obligations 1.30M 0.30M 0.43M 0.28M
Breakdown 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Type yearly yearly yearly yearly yearly
Date 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Net borrowings -0.17M -0.20M -2.41M 2.50M -
Total cash from financing activities 14.60M 4.02M 20.76M 2.85M -
Net income -9.63M -7.44M -9.31M -10.52M -9.32M
Change in cash 6.46M -5.15M 5.24M -2.52M -
Begin period cash flow 0.26M 5.41M 0.17M 2.69M -
End period cash flow 6.69M 0.26M 5.41M 0.17M 2.69M
Total cash from operating activities -7.96M -9.06M -14.08M -4.26M -
Issuance of capital stock 18.72M 4.97M 23.70M 0.34M -
Depreciation 1.08M 1.28M 0.95M 0.33M -
Change to inventory 0.01M 0.01M -0.15M 0.05M -
Capital expenditures 0.17M 0.11M 1.30M 1.36M 0.00M
Change in working capital -0.36M -0.34M -2.31M 3.64M -
Stock based compensation 0.11M 0.29M 0.37M 1.96M -
Other non cash items 1.98M 0.20M 0.67M 0.51M -
Free cash flow -8.12M -9.17M -15.38M -5.62M -

Peer Comparison*

Sector: Industrials Industry: Aerospace & Defense

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
DFSC
DEFSEC Technologies Inc.		 -0.08
10.13%		 0.71 - - 1.20 0.89 0.51 -0.87

Profile*

DEFSEC Technologies Inc.

DEFSEC Technologies Inc. engages in the development and commercialization of tactical systems for security, and personal defense markets. The company offers DEFSEC Lightning, a military digitization technology; Less-Lethal Munitions Systems, including PARA SHOT, a next-generation less-lethal system and ARWEN, a 40mm munition and new marking cartridge; It also provides BMA-Ready Solutions, including TAK and ATAK, tactical digital fires, battlefield laser detection system, and phantom tactical multi-function electromagnetic spectrum operations system. DEFSEC Technologies Inc. was formerly known as KWESST Micro Systems Inc. and changed its name to DEFSEC Technologies Inc. in June 2025. DEFSEC Technologies Inc. was founded in 2017 and is headquartered in Ottawa, Canada.

80 Hines Road, Ottawa, ON, Canada, K2K 2T8

https://www.kwesst.com

43

Name Title Year Born
Mr. Sean Homuth B.Comm., C.A., CPA, CA, CPA President, CEO & Director 1978
Ms. Jennifer Welsh CFO & Chief Compliance Officer 1982
Mr. Harry Webster Chief Operating Officer 1977
Mr. Sean Homuth B.Comm., C.A., CPA President, CEO & Director 1978
Ms. Jennifer Welsh CFO & Chief Compliance Officer 1981
Mr. Sean Homuth B.Comm., C.A., CPA President, CEO & Director 1979
Mr. Harry Webster Chief Operating Officer 1978
Ms. Elisabeth Preston Senior VP & Chief Legal Officer NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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