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T3 Defense Inc.

DFNS Clue Score13
United States Fiscal year ends December CIK 0001787518
$6.01 -3.38% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $6.01 −32.92% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 26 Dec 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Operating income−0.0Net income−0.0Fiscal year 2020Operating income−0.1Net income−0.3Fiscal year 2021Operating income−0.7Net income−0.6EPS, diluted−0.10Fiscal year 2022Revenue21.5Operating income−11.1Net income−11.8EPS, diluted−1.21Fiscal year 2022Operating income−1.2Net income−1.0EPS, diluted−0.21Fiscal year 2023Revenue21.3Operating income−17.5Net income−17.4EPS, diluted−1.73Fiscal year 2024Revenue5.9 −72.2%Operating income−7.1Net income−8.5EPS, diluted−4.93Fiscal year 2025Operating income−32.6Net income78.5EPS, diluted7.96
FY2019FY2020FY2021FY2022FY2022FY2023FY2024FY2025
Revenue n/a n/a n/a 21.5 n/a 21.3 5.9 n/a
Growth −72.2%
Operating income −0.0 −0.1 −0.7 −11.1 −1.2 −17.5 −7.1 −32.6
Net income −0.0 −0.3 −0.6 −11.8 −1.0 −17.4 −8.5 78.5
Growth
EPS, diluted n/a n/a −0.10 −1.21 −0.21 −1.73 −4.93 7.96

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Fiscal year 2020Fiscal year 2021Fiscal year 2022Gross margin−3.1%Operating margin−51.8%Net margin−55.1%Fiscal year 2022Fiscal year 2023Gross margin−1.6%Operating margin−82.0%Net margin−81.8%Fiscal year 2024Gross margin16.9%Operating margin−120.1%Net margin−144.1%Fiscal year 2025
FY2019FY2020FY2021FY2022FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a −3.1% n/a −1.6% 16.9% n/a
Operating margin n/a n/a n/a −51.8% n/a −82.0% −120.1% n/a
Net margin n/a n/a n/a −55.1% n/a −81.8% −144.1% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−0.0Fiscal year 2020Operating cash flow−0.1Fiscal year 2021Operating cash flow−0.4Fiscal year 2022Operating cash flow1.6Fiscal year 2022Operating cash flow−1.1Fiscal year 2023Operating cash flow−1.2Fiscal year 2024Operating cash flow−3.8Fiscal year 2025Operating cash flow−6.2Capital expenditure−0.0Free cash flow−6.2
FY2019FY2020FY2021FY2022FY2022FY2023FY2024FY2025
Operating cash flow −0.0 −0.1 −0.4 1.6 −1.1 −1.2 −3.8 −6.2
Capital expenditure n/a n/a n/a n/a n/a n/a n/a −0.0
Free cash flow n/a n/a n/a n/a n/a n/a n/a −6.2
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash0.0Shareholders’ equity0.0Fiscal year 2020Cash0.7Shareholders’ equity0.2Fiscal year 2021Cash0.3Shareholders’ equity−1.8Fiscal year 2022Cash0.4Shareholders’ equity10.9Fiscal year 2022Cash0.3Shareholders’ equity−3.9Fiscal year 2023Cash0.0Shareholders’ equity−6.2Fiscal year 2024Cash0.0Total debt3.3Net cash (debt)−3.3Shareholders’ equity−7.1Fiscal year 2025Cash2.6Shareholders’ equity−19.8
FY2019FY2020FY2021FY2022FY2022FY2023FY2024FY2025
Cash 0.0 0.7 0.3 0.4 0.3 0.0 0.0 2.6
Total debt n/a n/a n/a n/a n/a n/a 3.3 n/a
Net cash (debt) n/a n/a n/a n/a n/a n/a −3.3 n/a
Shareholders’ equity 0.0 0.2 −1.8 10.9 −3.9 −6.2 −7.1 −19.8

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 30 Sep 2022 FY2022 31 Dec 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 31 Dec 2025
Margins
n/a n/a n/a −3.1% n/a −1.6% 16.9% n/a
n/a n/a n/a −51.8% n/a −82.0% −120.1% n/a
n/a n/a n/a −55.1% n/a −81.8% −124.8% n/a
n/a n/a n/a −55.1% n/a −81.8% −144.1% n/a
Spending
n/a n/a n/a n/a n/a n/a 113.5% n/a
n/a n/a n/a n/a n/a n/a n/a 0.0%
Returns
−476.6% −205.2% n/a −108.8% n/a n/a n/a n/a
−9.8% −0.7% −1.3% −64.5% −15.8% −519.8% −864.9% 38.8%
Balance and payout
97.9% 1.2% 4.4% 40.7% 65.1% 284.7% 820.6% 22.3%