T3 Defense Inc.
T3 Defense Inc. operates as an application software company targeting Tier 2 and Tier 3 national security suppliers with dual-use technologies and AI applications, generating revenue through advanced transaction platforms and software services.
Business. T3 Defense Inc. (DFNS) is an IT services and consulting firm that provides IT consulting and other services within the Technology sector. The company is headquartered in the United States and is listed on the Nasdaq stock exchange. Specific details regarding its operating segments and geographic revenue mix are not disclosed in the available data.
Analyst recommendations
1 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
1Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsFY 2026 earnings (expected)2026-11-09 · estimated
- Peers
- EarningsQ2 2026 earnings (expected)2026-08-28 · estimated · Salesforce (CRM)
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated · ServiceNow (NOW)
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
T3 Defense Inc. (DFNS) has recorded a notable new institutional holding, marking the first significant ownership change identified for the ticker. As of December 31, 2025, investor ID 465 added 575,433 shares to its portfolio, a position valued at approximately $2.32 million. This acquisition represents a weight of roughly 0.0000336% in the investor’s total holdings, signaling an initial entry into the company’s shareholder base. This development is particularly material as it constitutes the first analysis basis for DFNS, with no prior data available for delta computation. The absence of previous holder changes or analyst coverage means this new position serves as the primary benchmark for future institutional interest. It highlights a shift from a period of no tracked activity to one where specific investor movements are now being monitored. The significance of this entry is underscored by the company’s current profile, which includes zero analyst coverage and no index memberships. With only eight top holders currently tracked, the addition of investor ID 465 contributes to a relatively concentrated ownership structure. The lack of broader market metrics, such as officer counts or index inclusion, suggests that DFNS remains a niche entity where individual institutional decisions carry disproportionate visibility. While the immediate financial impact of the $2.32 million position is modest in absolute terms, it establishes a new reference point for DFNS’s investor relations. The detection of this change on June 20, 2026, provides the first concrete data point for assessing institutional sentiment. Future analysis will depend on whether this initial entry triggers further accumulation or remains an isolated event in the absence of broader market catalysts.
Signals & dispatch
Composite-score breakdown
Synthesis
T3 Defense Inc. (DFNS) is an IT services and consulting firm that provides IT consulting and other services within the Technology sector. The company is headquartered in the United States and is listed on the Nasdaq stock exchange. Specific details regarding its operating segments and geographic revenue mix are not disclosed in the available data.
T3 Defense Inc. exhibits a fragile capital structure characterized by severe liquidity constraints and negative net cash. The company holds $6.4 million in cash and equivalents against $7.3 million in total debt, resulting in a negative net cash position. The current ratio stands at 0.25, indicating that current liabilities significantly exceed current assets, a condition explicitly flagged in risk assessments. With a market capitalization of $1.5 million and a price-to-book ratio of 0.01, the equity value is deeply discounted relative to its book value of $36.2 million, reflecting market skepticism regarding asset realizability and going-concern status.
Profitability metrics are deeply negative, with a return on equity of -75.1% and a return on assets of -8.6% for the latest period. The company reported a net loss of $27.1 million on revenue of $3.7 million, driven by significant non-cash charges including a $15.4 million day-one loss on stock purchase warrants and a $6.2 million change in fair value of warrant liabilities. Gross profit was minimal at $371,000, yielding a gross margin of approximately 10%, which is insufficient to cover operating expenses, resulting in an operating loss of $3.8 million.
T3 Defense Inc. (DFNS) has recorded a notable new institutional holding, marking the first significant ownership change identified for the ticker. As of December 31, 2025, investor ID 465 added 575,433 shares to its portfolio, a position valued at approximately $2.32 million. This acquisition represents a weight of roughly 0.0000336% in the investor’s total holdings, signaling an initial entry into the company’s shareholder base. This development is particularly material as it constitutes the first analysis basis for DFNS, with no prior data available for delta computation. The absence of previous holder changes or analyst coverage means this new position serves as the primary benchmark for future institutional interest. It highlights a shift from a period of no tracked activity to one where specific investor movements are now being monitored. The significance of this entry is underscored by the company’s current profile, which includes zero analyst coverage and no index memberships. With only eight top holders currently tracked, the addition of investor ID 465 contributes to a relatively concentrated ownership structure. The lack of broader market metrics, such as officer counts or index inclusion, suggests that DFNS remains a niche entity where individual institutional decisions carry disproportionate visibility. While the immediate financial impact of the $2.32 million position is modest in absolute terms, it establishes a new reference point for DFNS’s investor relations. The detection of this change on June 20, 2026, provides the first concrete data point for assessing institutional sentiment. Future analysis will depend on whether this initial entry triggers further accumulation or remains an isolated event in the absence of broader market catalysts.
- Severe liquidity crisis with a current ratio of 0.25 and negative net cash position.
- Massive net loss of $27.1 million driven by non-cash warrant valuation changes.
- Deeply discounted valuation with a P/B ratio of 0.01 and market cap of $1.5 million.
- High dilution risk due to warrant liabilities and potential equity offerings.
- Analyst price target of $0.80 suggests significant upside from current levels.
- Going-concern flags present in filings, indicating substantial doubt about continuity.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Revenue $3.7M; Operating income -$3.8M.
- ▍Revenue $3.7M
- ▍Operating income -$3.8M
- ▍Net margin -743.1%
Operating income -$7.3M.
- ▍Operating income -$7.3M
Operating income -$2.6M.
- ▍Operating income -$2.6M
Operating income -$32.6M.
- ▍Operating income -$32.6M
Operating income -$4.5M.
- ▍Operating income -$4.5M
Operating income -$4.5M.
- ▍Operating income -$4.5M
Revenue $5.9M; Operating income -$14.2M.
- ▍Revenue $5.9M
- ▍Operating income -$14.2M
- ▍Net margin -144.1%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -0,74 |
| Revenue | —no estimate | —no estimate | 24,9M USD |
| Operating income | —no estimate | —no estimate | -29,2M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Current liabilities exceed current assets.
- Net cash is negative after subtracting total debt.
- Filings reference going-concern or substantial-doubt language.
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director, Chief Executive Officer, 10% owner · Stock Purchase Warrant → Common StockAcquired 2 357 303 @ $0,51other · 2026-04-27
- Director, CEO, 10% owner · Common Stock Purchase Warrants → CommonAcquired 200 000 @ $1,50exercise · 2026-01-29
- Director, CEO, 10% owner · Common Stock Purchase Warrants → CommonAcquired 5 018 359 @ $1,50other · 2026-01-15
- Director, CEO, 10% owner · Call Option (to Purchase Common Stock and warrants) → CommonAcquired — @ $1,50grant · 2026-01-13
- 10% owner · Right to receive one-fifth of one Class A ordinary share → Class A Ordinary SharesAcquired 51 000purchase · 2025-11-28
- Director, 10% owner · Warrant → CommonDisposed 1 000 000 @ $0,00exercise · 2025-10-09
- Director, 10% owner · Warrant → CommonDisposed 351 424 @ $2,41exercise · 2025-10-09
- Director, 10% owner · Warrant → CommonDisposed 150 000 @ $2,00exercise · 2025-10-08
- Director, 10% owner · Warrant → CommonAcquired 1 000 000 @ $0,00purchase · 2025-10-07
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Price To Tangible Bookmarket_price / (tangible_book_value / shares_outstanding_diluted)
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Return On Equitynet_income / total_equity
- Enterprise Valuemarket_cap - net_cash
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- T3 Defense Inc. company facts · 2026-07-17
- T3 Defense Inc. 10-Q 2026-05-20 · 2026-07-17
- T3 Defense Inc. 10-K 2026-04-09 · 2026-07-17
- T3 Defense Inc. 10-Q 2025-11-14 · 2026-07-17
- T3 Defense Inc. 10-Q 2025-08-14 · 2026-07-17
- 8-K (sec_8k_material) on DFNS · 2026-07-17
- T3 Defense Inc Market data — analyst estimates · 2026-07-17
- T3 Defense Inc. HA canonical relationships · 2026-07-17
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2025-12-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
- Director, Chief Executive Officer, 10% owner · Common StockOther 4 174 399 @ $0,51$2,1M · 2026-04-27
- Director, Chief Executive Officer, 10% owner · Common StockOther 67 009 · 2026-04-27
- Director, CEO, 10% owner · Common Stock $0.0001 par value per shareOther 200 000 @ $1,50$300K · 2026-01-29
- Director, CEO, 10% owner · Common Stock$0.0001 par value per shareOther 1 992 010 · 2026-01-16
- See Remarks below · Common Stock, $0.0001 par value per shareSold 75 000 @ $4,03$302K · 2025-12-30
- See Remarks below · Common Stock, $0.0001 par value per shareSold 75 000 @ $4,09$307K · 2025-12-29
- See Remarks below · Common Stock, $0.0001 par value per shareSold 55 604 @ $4,26$237K · 2025-12-26
- See Remarks below · Common Stock, $0.0001 par value per shareSold 55 604 @ $4,49$250K · 2025-12-24
- See Remarks below · Common Stock, $0.0001 par value per shareSold 70 000 @ $4,57$320K · 2025-12-23
- See Remarks below · Common Stock, $0.0001 par value per shareSold 30 000 @ $4,41$132K · 2025-12-22
- See remarks · Common Stock, $0.0001 par value per shareSold 70 000 @ $4,53$317K · 2025-12-19
- See remarks · Common Stock, $0.0001 par value per shareSold 38 744 @ $4,72$183K · 2025-12-18
- 10% owner · Class A ordinary sharesBought 255 000 @ $10,00$2,5M · 2025-11-28
- Director, Chief Executive Officer · Common Stock, $0.0001 par value per shareOther 750 000 · 2025-11-13
- Director · Common Stock, $0.0001 par value per shareOther 5 000 · 2025-11-13
- Director · Common Stock, $0.0001 par value per shareOther 10 000 · 2025-11-13
- Director · Common Stock, $0.0001 par value per shareOther 5 000 · 2025-11-13
- Director · Common Stock, $0.0001 par value per shareOther 5 000 · 2025-11-13
- Director, 10% owner · Common Stock, $0.0001 par value per shareOther 377 432 · 2025-10-24
- Director, 10% owner · Common Stock, $0.0001 par value per shareBought 999 989 · 2025-10-09
- Director, 10% owner · Common Stock, $0.0001 par value per shareBought 259 864 · 2025-10-09
- Director, 10% owner · Common Stock, $0.0001 par value per shareBought 117 568 · 2025-10-08
Short positioning
Geographic breakdown
Intel & risk
no material change vs prior analysis (walked 17 fields; 4 schema-expansion field(s) excluded)
- Narrative— → —medium
- Business summary— → —medium
- Conclusion— → —medium
- Key takeaways— → —medium
- Company share pct— → —medium
Evidence & claims
From filings & derived data- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -61.9%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-09-30): 271.4%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): 2,121.8%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 87.9%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -73.8%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-09-30): -62.3%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-09-30): 1,022.0%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-09-30): 261.5%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-09-30): -358.8%Derived (calculated)
- Return on equity (FY 2025-12-31): -397.0%Derived (calculated)
- Current ratio (FY 2025-12-31): 0.31xDerived (calculated)
- Debt-to-equity (FY 2025-12-31): -2.28xDerived (calculated)
- Return on assets (FY 2025-12-31): 38.8%Derived (calculated)
- Shares outstanding (annual): 19.03MSEC XBRL filing
- Operating cash flow (annual): USD -6.2MSEC XBRL filing
- Total assets (annual): USD 202.39MSEC XBRL filing
- Current liabilities (annual): USD 43.55MSEC XBRL filing
- Net income (annual): USD 78.55MSEC XBRL filing
- Shareholders' equity (annual): USD -19.79MSEC XBRL filing
- Cash & equivalents (annual): USD 2.63MSEC XBRL filing
- Operating income (annual): USD -32.6MSEC XBRL filing
- Capex (annual): USD 31KSEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES 8SEC XBRL filing
- Pre-tax income (annual): USD 76.61MSEC XBRL filing