T3 Defense (DFNS) financial statements
Net income was $79M.
Free cash flow was -$6M.
The diluted share count rose 13049% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from T3 Defense's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $22M | — | $21M | $6M | — |
| Cost of revenue | — | — | — | $22M | — | $22M | $5M | — |
| Gross profit | — | — | — | -$661,396 | — | -$343,141 | $998,516 | — |
| Selling, general and admin | — | — | — | — | — | — | $7M | $28M |
| Operating income | -$20,664 | -$148,010 | -$670,916 | -$11M | -$1M | -$15M | -$7M | -$33M |
| Interest expense | — | — | — | $1,454 | — | $1M | $387,000 | $154,000 |
| Pre-tax income | — | — | — | -$12M | — | -$17M | -$7M | $77M |
| Income tax | — | — | — | — | — | — | — | $9,000 |
| Net income | -$20,664 | -$317,737 | -$599,127 | -$12M | -$967,614 | -$17M | -$9M | $79M |
| EPS (diluted) | -$0.32 | -$0.72 | -$0.80 | -$9.68 | -$1.68 | -$13.84 | -$4.93 | $7.96 |
| Diluted shares | 0M | 0M | 1M | 1M | 1M | 1M | 2M | 9M |
| Gross margin | — | — | — | -3.1% | — | -1.6% | 16.9% | — |
| Operating margin | — | — | — | -51.8% | — | -68.8% | -120.1% | — |
| Net margin | — | — | — | -55.1% | — | -81.8% | -144.1% | — |
Balance sheet
Fiscal years, from T3 Defense's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $27,699 | $712,817 | $283,403 | $31M | $6M | $7,849 | $373 | $3M |
| Receivables | — | — | — | — | — | — | — | $506,000 |
| Inventory | — | — | — | — | — | — | — | $0 |
| Total current assets | — | $47M | $48M | $4M | $6M | $3M | $965,709 | $14M |
| Property, plant and equipment | — | — | — | — | — | — | — | $101,000 |
| Goodwill | — | — | — | — | — | — | — | $8M |
| Total assets | $210,029 | $47M | $48M | $18M | $3M | $3M | $984,999 | $202M |
| Total current liabilities | $205,693 | $328,028 | $2M | $7M | $4M | $9M | $7M | $44M |
| Total liabilities | $205,693 | $575,662 | $2M | $7M | $4M | $10M | $8M | $45M |
| Shareholders' equity | $4,336 | $154,808 | -$2M | $11M | $10M | -$6M | -$7M | -$20M |
| Net debt | -$27,699 | -$712,817 | -$283,403 | -$31M | -$6M | -$7,849 | -$373 | -$3M |
Cash flow
Fiscal years, from T3 Defense's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$20,237 | -$137,077 | -$430,914 | $2M | -$1M | -$1M | -$4M | -$6M |
| Capital spending | — | — | — | — | — | — | — | $31,000 |
| Free cash flow | — | — | — | — | — | — | — | -$6M |
| Stock-based compensation | — | — | — | $2M | — | $370,878 | $230,000 | $19M |
| Net borrowing | — | — | — | — | — | — | $78,000 | -$1M |
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How much free cash flow does T3 Defense generate?
-$6M in fiscal 2025 (operating cash flow minus capital spending).
From T3 Defense's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.