New Risk • May 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.0m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (276% increase in shares outstanding). Market cap is less than US$10m (US$5.77m market cap). Minor Risk Revenue is less than US$5m (CA$5.4m revenue, or US$3.9m). Anuncio • Apr 21
DEFSEC Technologies Inc. Announces Board Changes DEFSEC Technologies Inc. announced that David Ibbetson, former General Manager of General Dynamics Mission Systems International, has joined DEFSEC's board of directors. Mr. Ibbetson has more than 35 years in the Aerospace and Defence Industry, and 25 years with General Dynamics, where he served in progressively senior executive roles, most recently as the General Manager of the international division of General Dynamics Mission Systems. Mr. Ibbetson successfully led operations throughout Canada, United Kingdom, Italy, Saudi Arabia, Oman, Turkey and the UAE, delivering major US and Canadian programs such as Land C4ISR, CH-148 Cyclone and CP-140 Aurora Integrated Mission System and exporting products and systems into programs of the UK Ministry of Defense and other allied nations' militaries. During his tenure with General Dynamics Mission Systems, Mr. Ibbetson also built out significant programs in South America, Asia and Eastern Europe. DEFSEC Technologies Inc. also announced the departure of Paul Mangano from the DEFSEC board of directors. New Risk • Mar 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.0m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (276% increase in shares outstanding). Market cap is less than US$10m (US$4.79m market cap). Minor Risk Revenue is less than US$5m (CA$5.4m revenue, or US$3.9m). Reported Earnings • Feb 15
First quarter 2026 earnings released: CA$1.39 loss per share (vs CA$23.94 loss in 1Q 2025) First quarter 2026 results: CA$1.39 loss per share (improved from CA$23.94 loss in 1Q 2025). Revenue: CA$1.31m (up 47% from 1Q 2025). Net loss: CA$2.08m (loss narrowed 40% from 1Q 2025). Anuncio • Feb 03
DEFSEC Technologies Inc. Appoints Elisabeth Preston as Senior Vice-President and Chief Legal Officer DEFSEC Technologies Inc. announced that it has appointed Elisabeth Preston as Senior Vice-President and Chief Legal Officer. Elisabeth brings an impressive range of private and public company defence and security experience, including cross-border U.S.-Canada transactions as well as extensive international experience, managing strategic relationships. Elisabeth's practices as an international business and trade lawyer, with significant transactional and public company governance experience. Her legal practice has, for 26 years, had a significant emphasis on the Public Safety, Defense and Aerospace marketplace, and for industries with sizeable government programs or highly regulated operations. She has over 30 years' experience advising companies as an executive in areas relating to governance, cross border marketing initiatives, strategic relationships, major commercial transactions and financing initiatives to fund and sustain growth. She has assisted companies to pursue and secure major contracts, solve complex international disputes, set up and maintain manufacturing and other operations around the world, and do so in an efficient and compliant manner. She has worked intensively in the areas of mergers and acquisitions, procurement law, anti-corruption compliance, industrial security, export control and controlled goods, as well as labour and employment law. Elisabeth acts as counsel on security-sensitive issues and is an active member of executive management teams. Elisabeth was also previously the managing partner of a major Canadian law firm's Ottawa office, and co-chair of its National Business Law practice. Most recently, Elisabeth was Chief Legal Counsel and Vice-President of International Compliance for a major U.S. defence contractor's international electronics division headquartered in Canada. Elisabeth has a Bachelor of Arts in History (honors) from the University of Pennsylvania in Philadelphia, a Masters of Public Administration (Public Management and Policy) from the University of Pittsburgh Graduate School of Public and International Affairs, and a law degree (LLB) from the Faculty of Law at McGill University in Montreal Canada. Elisabeth is Past Co-Chair of the American Bar Association, International Section's Defense and Aerospace Committee and former Vice-Chair of its Anti-Corruption Committee. Board Change • Jan 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director James Yersh was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Jan 24
DEFSEC Technologies Inc. Appoints Niel Marotta as Member of the Board, Effective January 23, 2026 DEFSEC Technologies Inc. announced that Niel Marotta has been appointed as a member of the board, effective January 23, 2026. He brings extensive capital markets experience with emerging companies, and currently serves as Chief Executive Officer of Sun Summit Minerals Corp. Niel is an accomplished executive with an exceptional track record of leadership, investment expertise, and entrepreneurial success. Prior to joining Sun Summit Minerals, he was a top-performing fund manager at Fidelity Management and Research Company (FMR Co.) in Boston, where he managed over $1 billion across multiple industries, including the Fidelity Select Gold Portfolio. Mr. Marotta also served as Vice President of Orezone Resources, playing a key role in its $350 million acquisition by Iamgold in 2009. He has worked as an investment banker and entrepreneur and has been involved with financings and M&A transactions exceeding $1 billion. He was also the co-founder and CEO of Indiva Limited. Mr. Marotta holds a Bachelor of Commerce with Distinction from McGill University. Reported Earnings • Dec 31
Full year 2025 earnings released: CA$15.78 loss per share (vs CA$189 loss in FY 2024) Full year 2025 results: CA$15.78 loss per share. Revenue: CA$4.94m (up 229% from FY 2024). Net loss: CA$9.63m (loss widened 29% from FY 2024). New Risk • Dec 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 8.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Market cap is less than US$10m (US$2.49m market cap). Minor Risk Revenue is less than US$5m (CA$4.1m revenue, or US$3.0m). Anuncio • Dec 23
DEFSEC Technologies Inc., Annual General Meeting, Feb 12, 2026 DEFSEC Technologies Inc., Annual General Meeting, Feb 12, 2026. Anuncio • Dec 19
DEFSEC Technologies Inc. has completed a Follow-on Equity Offering in the amount of CAD 2.060386 million. DEFSEC Technologies Inc. has completed a Follow-on Equity Offering in the amount of CAD 2.060386 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 566,040
Price\Range: CAD 3.64
Discount Per Security: CAD 0.273
Transaction Features: Registered Direct Offering Anuncio • Dec 17
DEFSEC Technologies Inc. has filed a Follow-on Equity Offering in the amount of CAD 2.060386 million. DEFSEC Technologies Inc. has filed a Follow-on Equity Offering in the amount of CAD 2.060386 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 566,040
Price\Range: CAD 3.64
Discount Per Security: CAD 0.273
Transaction Features: Registered Direct Offering Reported Earnings • Aug 14
Third quarter 2025 earnings released: CA$3.69 loss per share (vs CA$27.72 loss in 3Q 2024) Third quarter 2025 results: CA$3.69 loss per share. Revenue: CA$1.42m (up 330% from 3Q 2024). Net loss: CA$2.31m (loss widened 99% from 3Q 2024). Anuncio • Aug 09
DEFSEC Technologies Inc. has completed a Follow-on Equity Offering in the amount of CAD 6.80463 million. DEFSEC Technologies Inc. has completed a Follow-on Equity Offering in the amount of CAD 6.80463 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 673,084
Price\Range: CAD 8.955
Discount Per Security: CAD 0.672
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 759,879
Security Name: Pre-funded Warrants
Security Type: Equity Warrant
Securities Offered: 86,795
Price\Range: CAD 8.954
Discount Per Security: CAD 0.672 Anuncio • Jul 22
DEFSEC Technologies Inc. has filed a Follow-on Equity Offering. DEFSEC Technologies Inc. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 879,487
Price\Range: CAD 11.7
Discount Per Security: CAD 0.8775
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 879,487
Security Name: Pre-funded Warrants
Security Type: Equity Warrant
Securities Offered: 879,487 Reported Earnings • May 18
Second quarter 2025 earnings released: CA$6.16 loss per share (vs CA$128 loss in 2Q 2024) Second quarter 2025 results: CA$6.16 loss per share (improved from CA$128 loss in 2Q 2024). Revenue: CA$1.26m (up 160% from 2Q 2024). Net loss: CA$1.46m (loss narrowed 59% from 2Q 2024). Anuncio • Feb 20
KWESST Micro Systems Inc. announced that it expects to receive CAD 3.515152 million in funding KWESST Micro Systems Inc. announced a brokered private placement to an institutional accredited investor to issue 3,787,879 common shares, no par value per share or pre-funded warrants to acquire one Common Share, no par value per share at a price of CAD 0.928 per share or pre-funded warrant for proceeds of CAD 3,500,000 on February 19, 2025. Each Pre-funded Warrant was bundled with one common share purchase warrant of the Company . Each Common Warrant is immediately exercisable and entitles the holder to acquire one Common Share at an exercise price of CAD 1.16 per Common Share for a period of 60 months following the closing of the Offering. The Offering remains subject to the final approval of the TSX Venture Exchange. Reported Earnings • Feb 16
First quarter 2025 earnings released: CA$1.14 loss per share (vs CA$0.71 loss in 1Q 2024) First quarter 2025 results: CA$1.14 loss per share (further deteriorated from CA$0.71 loss in 1Q 2024). Revenue: CA$887.7k (up CA$758.6k from 1Q 2024). Net loss: CA$3.46m (loss widened CA$3.06m from 1Q 2024). Board Change • Jan 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Paul Mangano was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Jan 02
KWESST Micro Systems Inc. Provides Revenue Guidance for the Full Year 2025 KWESST Micro Systems Inc. provided revenue guidance for the full year 2025. The company expected revenue to increase with the commercial launch of KWESST Lightning which the Company expects to be in calendar 2025, with the expected demand/future orders for the new ARWEN 40mm ammunition and PARA OPS products, as well as from the ramp-up of the Land C4ISR subcontract. Anuncio • Jan 01
KWESST Micro Systems Inc. Auditor Raises 'Going Concern' Doubt KWESST Micro Systems Inc. filed its Annual on Dec 30, 2024 for the period ending Sep 30, 2024. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Dec 30
Full year 2024 earnings released: CA$8.99 loss per share (vs CA$22.80 loss in FY 2023) Full year 2024 results: CA$8.99 loss per share (improved from CA$22.80 loss in FY 2023). Revenue: CA$1.50m (up 22% from FY 2023). Net loss: CA$7.44m (loss narrowed 20% from FY 2023). Anuncio • Nov 13
KWESST Micro Systems Inc. announced that it has received CAD 3.415645 million in funding KWESST Micro Systems Inc. announced a brokered private placement to an institutional accredited investor to issue 4,145,200 pre-funded warrants to acquire one common share of the Company, no par value per share at a price of CAD 0.824 per pre-funded warrant for proceeds of CAD 3,415,644.8 on November 12, 2024. Each Pre-funded Warrant was bundled with one common share purchase warrant of the Company . Each Common Warrant is immediately exercisable and entitles the holder to acquire one Common Share at an exercise price of CAD 1.03 per Common Share for a period of 60 months following the closing of the Offering. The Offering remains subject to the final approval of the TSX Venture Exchange. Anuncio • Nov 02
KWESST Micro Systems Inc. has completed a Follow-on Equity Offering in the amount of $3.496291 million. KWESST Micro Systems Inc. has completed a Follow-on Equity Offering in the amount of $3.496291 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 80,000
Price\Range: $0.9
Discount Per Security: $0.0675
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 3,809,000
Price\Range: $0.899
Discount Per Security: $0.0675 Anuncio • Oct 24
KWESST Micro Systems Inc. Announces Completion of Volume Production Ramp-Up for Arwen Cartridges Through Outsourcing with Ammunition KWESST Micro Systems Inc. announced it has completed its plan to ramp up volume production of ARWEN cartridges, including the new 40mm baton round following successful characterization testing by a recognized ballistics laboratory. The ARWEN system is long-established in the law enforcement community and was designed as an alternative to lethal force for maintaining public order in the event of riots and civil unrest during protests and demonstrations. Historically, the Company has offered a 37mm cartridge that fires from its ARWEN launchers. In a move to expand the market for ARWEN branded products and to leverage the large installed base of third-party 40mm firing platforms, KWESST announced and showcased a new 40mm baton cartridge at the annual SHOT Show in January, 2024. Live fire demonstrations at the SHOT Show Range Day and other events since then have demonstrated the notable performance of the new 40mm baton cartridge. Reported Earnings • Aug 16
Third quarter 2024 earnings released: CA$0.13 loss per share (vs CA$0.81 loss in 3Q 2023) Third quarter 2024 results: CA$0.13 loss per share (improved from CA$0.81 loss in 3Q 2023). Revenue: CA$329.5k (up 119% from 3Q 2023). Net loss: CA$1.16m (loss narrowed 66% from 3Q 2023). Anuncio • Aug 15
KWESST Micro Systems Inc. has withdrawn its Follow-on Equity Offering. KWESST Micro Systems Inc. has withdrawn its Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 11,682,242
Price\Range: $0.428
Discount Per Security: $0.0321
Security Name: Pre-funded Warrants
Security Type: Equity Warrant
Securities Offered: 11,682,242 Anuncio • Aug 14
KWESST Micro Systems Inc. has completed a Follow-on Equity Offering in the amount of $0.943 million. KWESST Micro Systems Inc. has completed a Follow-on Equity Offering in the amount of $0.943 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 4,715,000
Price\Range: $0.2
Discount Per Security: $0.015
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 4,715,000
Transaction Features: Registered Direct Offering Anuncio • Aug 13
KWESST Micro Systems Inc. has filed a Follow-on Equity Offering in the amount of $0.943 million. KWESST Micro Systems Inc. has filed a Follow-on Equity Offering in the amount of $0.943 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 4,715,000
Price\Range: $0.2
Discount Per Security: $0.015
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 4,715,000
Transaction Features: Registered Direct Offering Anuncio • Jun 15
KWESST Micro Systems Inc. has completed a Follow-on Equity Offering in the amount of $1.682 million. KWESST Micro Systems Inc. has completed a Follow-on Equity Offering in the amount of $1.682 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 2,900,000
Price\Range: $0.58
Discount Per Security: $0.0435 Anuncio • Jun 14
KWESST Micro Systems Inc. has filed a Follow-on Equity Offering. KWESST Micro Systems Inc. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant Anuncio • May 22
KWESST Micro Systems Inc. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency KWESST Micro Systems Inc. (“KWESST” or the “Company“), announced that the Company received written notification from The Nasdaq Stock Market LLC (“Nasdaq“) on May 16, 2024, indicating that the Company is not in compliance with the minimum bid price requirement set in the Nasdaq rules for continued listing on Nasdaq, which requires listed securities to maintain a minimum bid price of US$1.00 per share (“Minimum Bid Requirement”). Based on the closing bid price of the Company’s common shares for the 30 consecutive business days from April 4, 2024 to May 15, 2024, the Company failed to meet the Minimum Bid Requirement set in Nasdaq Listing Rule 5550(a)(2) during that period. The Notification Letter is only a notification of deficiency, it is not a notice of imminent delisting, and it has no current immediate effect on the listing or trading of the Company’s common shares on The Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days from the date of the Notification Letter, or until November 12, 2024, to regain compliance with the Minimum Bid Requirement, during which time the common shares will continue to trade on The Nasdaq Capital Market under the symbol “KWE”. To regain compliance with the Minimum Bid Requirement, the Company’s common shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days before November 12, 2024. In the event the Company does not regain compliance with the Minimum Bid Requirement after the initial 180-day period, the Company may be eligible for an additional period of 180 calendar days to regain compliance, if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Requirement. In this case, the Company will need to provide written notice of its intention to cure the deficiency during the second compliance period. The Company’s common shares are also listed on the TSX Venture Exchange and the Notification Letter does not affect the Company’s compliance status with such listing. Reported Earnings • May 16
Second quarter 2024 earnings released: CA$0.61 loss per share (vs CA$0.29 loss in 2Q 2023) Second quarter 2024 results: CA$0.61 loss per share (further deteriorated from CA$0.29 loss in 2Q 2023). Revenue: CA$485.9k (up 201% from 2Q 2023). Net loss: CA$3.54m (loss widened 189% from 2Q 2023). Anuncio • May 16
KWESST Micro Systems Inc. has filed a Follow-on Equity Offering. KWESST Micro Systems Inc. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 6,105,006
Price\Range: $0.819
Discount Per Security: $0.061425
Security Name: Pre-funded Warrants
Security Type: Equity Warrant
Securities Offered: 6,105,006 Anuncio • Apr 13
KWESST Micro Systems Inc., Annual General Meeting, Jun 28, 2024 KWESST Micro Systems Inc., Annual General Meeting, Jun 28, 2024. New Risk • Apr 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 86% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Revenue is less than US$1m (CA$1.0m revenue, or US$770k). Market cap is less than US$10m (US$6.25m market cap). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Anuncio • Apr 05
KWESST Micro Systems Inc. has completed a Follow-on Equity Offering. KWESST Micro Systems Inc. has completed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,538,500
Price\Range: $0.65
Security Name: Pre-Funded Warrant
Security Type: Equity Warrant
Securities Offered: 1,538,500 Anuncio • Apr 04
KWESST Micro Systems Inc. has filed a Follow-on Equity Offering. KWESST Micro Systems Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Pre-Funded Warrant
Security Type: Equity Warrant New Risk • Feb 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$16m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m (CA$1.2m revenue, or US$917k). Market cap is less than US$10m (US$6.68m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$8.9m net loss next year). Shareholders have been diluted in the past year (38% increase in shares outstanding). Reported Earnings • Jan 18
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: CA$2.28 loss per share (improved from CA$14.41 loss in FY 2022). Revenue: CA$1.23m (up 71% from FY 2022). Net loss: CA$9.31m (loss narrowed 12% from FY 2022). Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Anuncio • Dec 14
KWESST Micro Systems Inc. Announces Non-Lethal PARA OPS and Arwen Products to Purchase On-Line KWESST Micro Systems Inc. announced that its non-lethal PARA OPS and ARWEN products will be available for law enforcement agencies to purchase on-line (with link from KWESST website) on December 18, 2023. A further demonstration to multi-level law enforcement jurisdictions will take place Thursday December 14, 2023. KWESST added that PARA OPS has been in initial production through the fall of this year, and the Company plans to ramp up for volume production in early calendar 2024 in conjunction with the promotion of PARA OPS at the 2024 SHOT Show in Las Vegas, January 23-26. KWESST will also be introducing its new ARWEN 40mm cartridge at the SHOT Show in response to substantial interest from many law enforcement agencies. The Company stated that it has been in discussions with law enforcement product distributors and expects to begin announcing distribution arrangements in the coming weeks and throughout 2024. Anuncio • Dec 07
KWESST Micro Systems Inc. Appoints General (Retired) Rick Hillier to Its Baord KWESST Micro Systems Inc. announced that General (Retired) Rick Hillier has joined KWESST's Board of Directors and will chair the Company's Strategic Planning Committee, following the retirement of Jeff McLeod. General Hillier previously served as international advisor to KWESST. As the former Canadian Chief of the Defence Staff, General Hillier held Canada's highest-ranking position in the Canadian Forces from February 4, 2005, to July 1, 2008. Among his many military career highlights, he oversaw Canada's mission in Afghanistan and was a strong and effective advocate for modernized equipment in support of the mission. Anuncio • Oct 20
KWESST Micro Systems Inc. Announces the Retirement of Jeff Macleod as CEO, Effective October 31, 2023 KWESST Micro Systems Inc. announced the retirement of Jeff Macleod as CEO, effective October 31, 2023. Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Paul Mangano was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: CA$0.81 loss per share. Revenue: CA$150.3k (down 47% from 3Q 2022). Net loss: CA$3.45m (loss widened 33% from 3Q 2022). Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 9.5%. Revenue is forecast to grow 199% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Aerospace & Defense industry in the US. Anuncio • Jul 26
KWESST Micro Systems Inc. Files Patent for Next-Generation Laser Detection, Makes Core Module Available To OEMs KWESST Micro Systems Inc. announced that it has filed a U.S. patent application for the core module of its next-generation Battlefield Laser Detection System, branded "BLaDE" and will make the BLaDE module available as a plug-and-play offering to third-party OEMs for incorporation into their new and legacy electro-optical systems on armored vehicles. Lasers, including Light Detection And Ranging ("LIDAR") are a growing threat in the modern battlespace. Historically, legacy laser detection systems are essentially defensive in nature. They typically consist of sensor pods on armored vehicles that detect lasers from precision-guided munitions and then activate smoke on the vehicle to disrupt the laser targeting of the incoming munition. LIDAR systems are prevalent in war zones, including the Ukraine, to detect targets through obstructions like camouflage netting and foliage, increasing the vulnerability of ground forces and assets to attack from precision munitions. In a leap ahead, KWESST's next-generation patent-pending BLaDE not only detects lasers, including LIDAR, but also discriminates whether they are friend or foe, and identifies the kind of laser right down to make and model. It also pinpoints the source of the laser so friendly forces can target it. Crucially, the BLDS is optimized to sense all known laser threats on the battlefield and process counter-measures faster than current laser warning receivers. These advances in technical capability constitute the scope of the patent filing. This breakthrough capability changes laser detection from defense to offense. Anuncio • Jul 23
KWESST Micro Systems Inc. announced that it has received CAD 7.36784 million in funding On July 21, 2023, KWESST Micro Systems Inc. closed the transaction. The company issued 1,542,194 common shares at a price of CAD 2.98 per common share for the gross proceeds of CAD 4,595,738.12 and 930,548 prefinanced warrants at a price of CAD 2.979 per prefinanced warrant for the gross proceeds of CAD 2,772,102.492, for the aggregate gross proceeds of CAD 7,367,840.612. The offering remains subject to the final approval of the TSX Venture Exchange. As compensation for services rendered, the company paid to ThinkEquity, LLC a cash fee of CAD 475,013.14, representing 8.5% of the aggregate gross proceeds of the offering, and issued 123,637 warrants to purchase a number of common shares. New Risk • Jul 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$8.81m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$12m free cash flow). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (430% increase in shares outstanding). Revenue is less than US$1m (CA$1.0m revenue, or US$772k). Market cap is less than US$10m (US$8.81m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$9.3m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Anuncio • Jun 01
Kwesst Micro Systems Inc. Appoints Sean Homuth as Chief Financial Officer KWESST Micro Systems Inc. announced that it has appointed Sean Homuth, CPA, CA as Chief Financial Officer (CFO), effective June 12, 2023. As CFO, Mr. Homuth will lead the Company's finance function including accounting and controllership, tax planning, financial planning and analysis, investor relations, treasury, human resources and IT. Mr. Homuth brings more than 20 years-experience with public companies listed in both Canada and the United States across a wide range of industries, plus a variety of financing and M&A transactions. He is a Chartered Professional Accountant (CPA, CA Ontario) and a Certified Public Accountant (Illinois). Reported Earnings • May 13
Second quarter 2023 earnings released: CA$0.29 loss per share (vs CA$3.22 loss in 2Q 2022) Second quarter 2023 results: CA$0.29 loss per share (improved from CA$3.22 loss in 2Q 2022). Revenue: CA$161.4k (down 2.9% from 2Q 2022). Net loss: CA$1.23m (loss narrowed 46% from 2Q 2022). Reported Earnings • Jan 29
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: CA$14.41 loss per share. Revenue: CA$721.5k (down 43% from FY 2021). Net loss: CA$10.5m (loss widened 13% from FY 2021). Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 2.9%.