NASDAQ : DFSC

DEFSEC Technologies Inc. — Financial statements

Industrials · Aerospace & Defense · Canada

Last price 0.6701 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.24M

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Financial statements

DEFSEC Technologies Inc. (DFSC) reported revenue of 7.52M CAD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year October - September; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue7.52M4.94M1.50M1.23M721.52K1.28M
Cost of Revenue4.97M3.20M1.02M1.43M536.74K798.89K
Gross Profit2.55M1.74M486.50K-191.38K184.78K476.92K
Selling, General & Admin7.81M7.26M6.36M9.06M8.21M7.54M
Research & Development2.82M2.37M2.35M1.53M2.06M2.14M
Operating Expenses11.78M10.82M10.29M11.91M10.28M9.68M
Operating Income-9.23M-9.08M-9.80M-12.10M-10.09M-9.20M
Interest Expense-307.19K-254.71K-252.01K-723.55K-511.99K-116.11K
Interest & Investment Income109.13K81.84K55.69K55.51K5.99K4.85K
Currency Exchange Gain (Loss)168.80K114.35K59.19K-98.28K28.78K-3.74K
Other Non Operating Income (Expenses)214.61K-405.43K2.51M3.86M3.51K
EBT Excluding Unusual Items-9.04M-9.54M-7.43M-9.02M-10.57M-9.31M
Gain (Loss) on Sale of Assets-57.48K6.81K-7.26K-291.18K-1.17K-1.33K
Asset Writedown-88.60K
Other Unusual Items-500.00
Pretax Income-9.10M-9.63M-7.44M-9.31M-10.57M-9.32M
Income Tax Expense-49.44K
Net Income-9.10M-9.63M-7.44M-9.31M-10.52M-9.32M
Net Income to Common-9.10M-9.63M-7.44M-9.31M-10.52M-9.32M
Shares Outstanding (Basic)1.68M610.17K39.38K19.43K
Shares Outstanding (Diluted)1.68M610.17K39.38K19.43K
EPS (Basic)-5.42-15.78-188.86-478.85
EPS (Diluted)-5.43-15.78-188.86-478.85
Free Cash Flow-8.03M-8.10M-9.16M-14.26M-4.44M-7.07M
Free Cash Flow Per Share-4.79-13.27-232.65-733.50
Gross Margin33.93%35.16%32.34%-15.50%25.61%37.38%
Operating Margin-122.69%-183.72%-651.41%-980.60%-1,398.62%-721.31%
Profit Margin-120.99%-194.77%-494.42%-753.89%-1,458.08%-730.16%
Free Cash Flow Margin-106.76%-163.84%-609.05%-1,154.81%-615.93%-553.78%
EBITDA-8.67M-8.10M-8.65M-11.15M-9.82M-9.06M
EBITDA Margin-115.30%-163.89%
D&A For EBITDA556.22K979.84K1.15M952.51K267.15K140.99K
EBIT-9.23M-9.08M-9.80M-12.10M-10.09M-9.20M
EBIT Margin-122.69%-183.72%
Advertising Expenses636.0060.82K19.09K1.35M1.91M

Balance sheet

Fiscal year October - September; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents3.48M6.69M256.83K5.41M170.54K2.69M
Cash & Short-Term Investments3.48M6.69M256.83K5.41M170.54K2.69M
Accounts Receivable2.31M1.35M497.30K73.74K123.76K308.73K
Other Receivables141.94K70.58K226.53K48.12K390.52K
Receivables2.31M1.49M567.88K300.27K171.88K699.25K
Inventory587.14K519.61K533.16K542.39K393.54K90.30K
Prepaid Expenses314.05K163.56K179.05K562.41K122.17K548.04K
Other Current Assets142.72K82.27K305.44K30.00K658.26K30.00K
Total Current Assets6.84M8.95M1.84M6.84M1.52M4.06M
Property, Plant & Equipment1.37M1.44M541.38K776.17K1.04M1.17M
Other Intangible Assets2.11M2.39M3.18M4.11M4.75M3.47M
Long-Term Deferred Charges124.61K94.98K29.32K
Other Long-Term Assets15.50K46.13K28.81K26.08K23.60K21.37K
Total Assets10.45M12.92M5.62M11.76M7.32M8.72M
Accounts Payable2.69M409.70K881.84K367.13K2.29M620.04K
Accrued Expenses250.00K2.10M978.80K1.43M2.32M507.16K
Short-Term Debt2.20M
Current Portion of Leases68.96K188.91K147.08K127.12K69.15K32.29K
Current Unearned Revenue2.70K7.67K120.57K120.97K47.27K
Other Current Liabilities150.04K210.97K847.29K4.34M
Total Current Liabilities3.16M2.92M2.98M6.38M6.93M1.16M
Long-Term Debt78.80K53.25K
Long-Term Leases1.22M1.11M155.15K302.41K206.47K275.62K
Other Long-Term Liabilities959.38K1.09M1.12M1.14M1.12M1.11M
Total Liabilities5.34M5.12M4.25M7.82M8.33M2.59M
Common Stock48.69M47.00M37.82M33.38M19.50M17.22M
Additional Paid-In Capital6.30M5.40M5.15M4.77M3.55M2.46M
Retained Earnings-58.97M-52.28M-42.65M-35.22M-25.91M-15.39M
Comprehensive Income & Other9.09M7.68M1.05M1.00M1.86M1.84M
Shareholders' Equity5.11M7.80M1.37M3.94M-1.00M6.12M
Total Liabilities & Equity10.45M12.92M5.62M11.76M7.32M8.72M
Total Debt1.29M1.30M302.22K429.52K2.55M361.16K
Net Cash (Debt)2.19M5.38M-45.40K4.98M-2.38M2.33M
Net Cash Per Share1.318.82-1.15256.11
Filing Date Shares Outstanding2.67M1.40M75.20K26.75K19.39K3.33K
Total Common Shares Outstanding2.67M1.40M75.20K26.75K3.33K
Working Capital3.67M6.03M-1.13M458.44K-5.41M2.90M
Book Value Per Share1.925.5918.20147.141,838.41
Tangible Book Value3.00M5.41M-1.81M-178.90K-5.75M2.65M
Tangible Book Value Per Share1.133.88-24.03-6.69796.40
Machinery784.67K905.25K764.63K700.13K1.08M916.44K
Leasehold Improvements26.45K131.79K131.79K131.79K137.04K117.24K

Cash flow statement

Fiscal year October - September; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-9.10M-9.63M-7.44M-9.31M-10.52M-9.32M
Depreciation & Amortization657.52K1.08M1.28M952.51K325.24K140.99K
Other Amortization455.00455.001.71K1.25K
Loss (Gain) From Sale of Assets57.48K7.26K291.18K1.17K1.33K
Asset Writedown & Restructuring Costs-15.73K72.87K1.17M55.38K
Stock-Based Compensation494.97K113.69K291.76K373.55K1.96M2.60M
Other Operating Activities241.43K759.54K-2.86M-5.25M336.14K64.77K
Change in Accounts Receivable-1.18M-925.91K-267.61K-128.39K631.80K-218.33K
Change in Inventory-78.39K13.55K9.22K-148.85K49.45K17.55K
Change in Accounts Payable1.71M960.77K-257.26K-1.67M2.52M-828.70K
Change in Unearned Revenue-75.82K-112.90K-25.79K73.70K17.41K-7.05K
Change in Other Net Operating Assets-509.69K-293.76K197.76K-440.24K425.88K1.24M
Operating Cash Flow-7.82M-7.96M-9.06M-14.08M-4.26M-6.26M
Capital Expenditures-212.05K-140.62K-101.33K-176.95K-187.48K-809.96K
Cash Acquisitions4.39K4.39K7.81K250.35K
Sale (Purchase) of Intangibles-26.68K-9.82K-1.12M-1.18M-233.23K
Other Investing Activities-17.50K-17.50K-148.41K-30.00K
Investing Cash Flow-223.86K-180.41K-111.15K-1.44M-1.11M-1.07M
Short-Term Debt Issued60.00K
Long-Term Debt Issued2.54M326.00K
Total Debt Issued2.60M326.00K
Short-Term Debt Repaid-60.00K-218.28K
Long-Term Debt Repaid-172.15K-197.65K-2.41M-42.50K-350.13K
Lease Payments-174.55K-172.15K-197.65K-75.49K-42.50K-44.13K
Total Debt Repaid-174.55K-172.15K-197.65K-2.41M-102.50K-568.40K
Net Debt Issued (Repaid)-174.55K-172.15K-197.65K-2.41M2.50M-242.40K
Issuance of Common Stock11.38M19.12M4.97M23.71M559.92K7.79M
Repurchase of Common Stock-612.00-23.53K
Other Financing Activities-2.18M-4.35M-747.93K-542.59K-184.29K-606.62K
Financing Cash Flow9.02M14.60M4.02M20.76M2.85M6.94M
Foreign Exchange Rate Adjustments-36.25K-35.12K
Net Cash Flow938.96K6.43M-5.15M5.24M-2.52M-385.65K
Free Cash Flow-8.03M-8.10M-9.16M-14.26M-4.44M-7.07M
Free Cash Flow Margin-106.76%-163.84%-609.05%-1,154.81%-615.93%-553.78%
Free Cash Flow Per Share-4.79-13.27-232.65-733.50
Levered Free Cash Flow-4.99M-5.58M-8.40M-6.48M-2.15M-4.27M
Unlevered Free Cash Flow-4.79M-5.42M-8.24M-6.03M-1.83M-4.20M
Free Cash Flow After Leases-8.21M-8.27M-9.36M-14.33M-4.49M-7.11M
Cash Interest Paid120.42K42.98K
Change in Working Capital-153.48K-358.25K-343.67K-2.31M3.64M198.48K

Ratios

Fiscal year October - September; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization3.24M4.84M2.28M8.72M4.73M76.27M
Enterprise Value1.67M4.98M1.66M7.65M6.08M74.64M
Last Close Price0.673.5632.34325.501,293.6022,491.04
PS Ratio0.611.362.059.559.0075.59
PB Ratio0.900.862.253.00-6.4815.75
P/TBV Ratio1.531.2536.35
EV/Sales Ratio0.321.401.498.3811.5773.97
Debt / Equity Ratio0.250.170.220.11-2.550.06
Net Debt / Equity Ratio-0.43-0.690.03-1.26-2.38-0.38
Net Debt / EBITDA Ratio0.250.67-0.010.45-0.240.26
Net Debt / FCF Ratio0.270.67-0.010.35-0.540.33
Asset Turnover0.730.530.170.130.090.18
Inventory Turnover9.076.091.893.052.22
Quick Ratio1.832.800.280.890.052.92
Current Ratio2.163.070.621.070.223.50
Return on Equity (ROE)-187.77%-209.96%-280.46%-634.65%-410.88%-186.15%
Return on Assets (ROA)-56.12%-61.23%-70.49%-79.30%-78.64%-81.99%
Return on Capital Employed (ROCE)-126.60%-90.80%-371.00%-225.20%-2,538.20%-121.80%
Earnings Yield-579.56%-142.90%-241.54%-78.90%-161.97%-9.66%
FCF Yield-177.08%-120.20%-297.53%-120.87%-68.42%-7.33%
Buyback Yield / Dilution-416.49%-1,449.36%-102.63%