# T3 Defense Inc. (DFNS)

**Exchange:** NYSE  
**Sector:** Industrials  
**Market cap:** $475,412.397  
**Price:** $0.28 (+0.40%)

> T3 Defense Inc. is a federated holding company in the aerospace and defense sector, specializing in acquiring, developing, and scaling mission-critical defense businesses embedded in long-cycle national security programs. Founded in 2013 and headquartered in New York, New York, the company targets undervalued firms at constrained points in the defense industrial base, including suppliers supporting OEM platforms for air defense, homeland security, and AI applications. Its subsidiaries operate across engineering, manufacturing, and software, providing components like AI for defense, UAV solutions, 3D mapping, surveillance, GNSS simulators, and command centers, with involvement in programs such as Israel’s Iron Dome missile defense. T3 Defense employs a disciplined M&A framework emphasizing time-to-value execution, bottleneck capacity expansion, and qualification access, combining centralized capital strategy with decentralized operational autonomy to enhance reliability, accelerate delivery, and strengthen national resilience. Classified in the application software industry within the broader software sector, T3 Defense plays a pivotal role in addressing production delays and scaling technologies vital to military readiness and operational effectiveness.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2024 | $6M | $998,516 | -$7M | -$9M | $-4.93 |
| 2023 | $21M | -$343,141 | -$15M | -$17M | $-13.84 |
| 2022 | $22M | -$661,396 | -$11M | -$12M | $-1.21 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2024 | $984,999 | $8M | -$7M | $373 | $3M |
| 2023 | $3M | $10M | -$6M | $7,849 | — |
| 2022 | $18M | $7M | $11M | $364,023 | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$6M | $31,000 | -$6M |
| 2024 | -$4M | — | — |
| 2023 | -$1M | — | — |
| 2022 | -$1M | — | — |
| 2022 | $2M | — | — |
| 2021 | -$430,914 | — | — |
| 2020 | -$137,077 | — | — |
| 2019 | -$20,237 | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/DFNS)