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DEFSEC Technologies Inc. Announces Strong First Quarter Fiscal 2026 Results
Revenue up 47% over Q1 Fiscal 2025, with continuing momentum post quarter-end; Annualized prog...
About this update from Defsec Technologies Inc.
[{"type":"text","content":"DEFSEC Technologies Inc. Announces Strong First Quarter Fiscal 2026 ResultsRevenue up 47% over Q1 Fiscal 2025, with continuing momentum post quarter-end;Annualized program billings on go-forward basis reaches approximately $9.01 million in February 2026 with additional near term growth to approximately $9.92 million;First Lightning SaaS subscription received.Ottawa, Ontario--(Newsfile Corp. - February 12, 2026) - DEFSEC Technologies Inc. (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCSW) (FSE: 62UA) (\"DEFSEC\" or the \"Company\") is pleased to announce the highlights of its fiscal 2026 first quarter (\"Q1 Fiscal 2026\") results. This announcement is a summary only and should be read in conjunction with DEFSEC's unaudited condensed consolidated interim financial statements for the three months ended December 31, 2025 and 2024 and related management's discussion and analysis for the three months ended December 31, 2025, all of which have been filed on SEDAR+ and EDGAR. All figures are stated in Canadian Dollars unless otherwise noted.Q1 Fiscal 2026 Financial Highlights:Three months ended December 31,(in thousands of $)20252024$$Revenue1,307.7887.7Gross profit404.7404.5Operating expenses2,468.63,232.1Net loss(2,083.0)(3,457.0)EBITDA loss(1,868.4)(3,080.5) December 31, 2025September 30, 2025(in thousands of $)$$Cash5,037.46,686.4Total assets11,357.212,921.5Total liabilities4,091.65,119.8Working capital5,759.26,027.8 Growth in defence software businessMuch of the revenue growth in Q1 Fiscal 2026 was driven by increases in sub-contract task orders for the Company's software services for the Canadian Department of National Defence under two foundational long-term program contracts: (i) Directorate Land Command Systems Program Management Software Engineering Facility (\"DSEF\"); and (ii) Land Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (\"Land C4ISR\") program, for the digital modernisation of the Canadian Forces. While these programs are \"as and when requested\" task-based contracts with no minimum guaranteed values, the Company's workshare for these multi-year contracts, excluding renewal options, would provide for up to $75 million in combined revenue through the initial contract periods that run through 2028 for DSEF and 2029 for Land C4ISR. T...