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Buy Day today: Good (62) Broad market participation · no major macro event
DFNS

T3 Defense Inc.

Industrials · Aerospace & Defense · listed since 2020

7.90$ +2.6% vs. previous close Closing price · As of: Sep 17, 2026
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Assessment

Our Rating

A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.

Substance risk

We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.

Why this colour

Red, because several documented findings threaten the substance of the company itself — not the price of the stock. First, the cash runway: $7.4 million of unrestricted cash as of March 31, 2026 against $4.9 million of operating cash burn in the quarter works out, on our arithmetic, to about one and a half quarters, and the quarterly report itself states that additional liquidity will be needed for the next twelve months absent other action. Against that stands management's explicit view: it budgets roughly $6 million for twelve months, considers the $7.4 million sufficient and concluded that its plans in aggregate alleviate substantial doubt about the going concern; the audit opinion for fiscal 2025 carries no going-concern qualification, and of the roughly −$69 million of working capital, $56 million are warrant liabilities requiring no cash settlement. It stays red nonetheless, because that plan depends on something shareholders pay for — the equity line. Second, listing risk for financial reasons: the minimum bid price has been breached since March 20, 2026 with a deadline of November 2, 2026, and after the 1-for-8 and 1-for-125 reverse splits no cure period applies through July 20, 2027. Third, dilution as a permanent condition: the share count rose more than sixfold in just over six months, and management's funding plan rests explicitly on continuing that same mechanism. That real businesses with real customers sit under the holding roof, and that revenue has risen from zero to $3.653 million in a quarter for the first time, argues for the future — but it cancels none of the three findings. Whether the stock is expensive or cheap at the roughly $47 million valuation anchor is a price argument and does not set the color. The decision is yours.

What the thesis turns on

Assessment: Opportunities & Risks

T3 Defense is the costume trap in its purest form: under the holding roof sit real, small Israeli supplier businesses with 112 employees between them and $3.653 million of quarterly revenue — above them a financial structure whose reported annual profit of $78.631 million comes from remeasuring the company's own warrants and has never touched a bank account. Between December 31, 2025 and July 9, 2026 the share count went from 19.0 to 126.3 million, on July 20, 2026 the stock was reverse split 1-for-125, and under Nasdaq Rule 5810(c)(3)(A)(iv) there is no second attempt through July 20, 2027. With $7.4 million of cash and $4.9 million of quarterly burn, the next financing is not an option but a necessity. Not investment advice.

Earnings quality

Net income of $78.631 million for fiscal 2025 sits next to zero revenue and an operating loss of $32.600 million; $131.766 million of it comes from remeasuring the company's own warrants. The same mechanism produced a $160.788 million loss in the October-to-December 2024 transition quarter and a $26.351 million loss in the first quarter of 2026. No earning power can be derived from figures like these.

Liquidity and cash runway

As of March 31, 2026 the group held $7.4 million of unrestricted cash against $4.9 million of cash used in operations during the quarter — roughly one and a half quarters on our arithmetic. Management does the sums differently: it budgets roughly $6 million for twelve months, considers the cash sufficient, and concluded that its plans in aggregate alleviate substantial doubt about the going concern; the fiscal 2025 audit opinion carries no going-concern qualification. The quarterly report also states that, absent other action, additional liquidity will be needed for the next twelve months; the main source is the equity line, that is, further dilution. Working capital stood at roughly −$69 million, of which $56 million are warrant liabilities requiring no cash settlement.

Dilution

Shares outstanding rose more than sixfold between December 31, 2025 (19,025,767) and July 9, 2026 (126,311,902) before the 1-for-125 reverse split of July 20, 2026. On top of that sat warrants on 10,596,213 shares as of March 31, 2026, and on August 5, 2026 shareholders vote on a compensation plan covering 176,000 shares (17.4 percent of the share count) plus 8 percent a year.

Listing and exchange rules

Per the annual report the stock has traded below the $1.00 threshold since March 20, 2026; the Nasdaq deadline runs to November 2, 2026. After the reverse splits of 1-for-8 (October 2024) and 1-for-125 (July 20, 2026), a renewed breach through July 20, 2027 triggers Rule 5810(c)(3)(A)(iv): no compliance period, an immediate delisting determination. The cumulative condition (250-to-1 over two years) has applied since July 20, 2026 but lapses once the 1-for-8 split leaves the two-year window in October 2026. A delisting would, per the report, trigger debt acceleration and breach acquisition agreements.

Operating substance

There is an operating business with third-party customers for the first time: $3.653 million of revenue in the first quarter of 2026 against zero in the prior-year quarter, $12.1 million of backlog as of March 31, 2026 and subsidiaries with documented customers — Rimon supplies generators for missile defense launchers, Project 35 supplies Israel Aerospace Industries, Elta, Rafael and Elbit per the filing. But the gross margin was 10.2 percent, and I.T.S., the segment with the most staff, ran a gross loss; the biggest segment by revenue was Rimon at $1.601 million.

Related parties and balance-sheet quality

Star 26 was bought from the company's own chief executive, who was at the same time the seller's controlling shareholder and director; of the $69.433 million of consideration, $72.255 million is goodwill against net tangible assets of negative $3.702 million. Of $315.486 million of total assets, $174.568 million is trust cash at an acquisition vehicle and $100.150 million is goodwill.

Worth Noting

DFNS reached the research list not through a metrics screen but through the density of its filings with the U.S. securities regulator, the SEC: 22 mandatory filings between May 20 and July 24, 2026, including the 1-for-125 reverse split of July 20, 2026. Classic metrics do not apply here anyway — the reported profit is a valuation effect, and two reverse splits in 21 months distort every price series.

Recency gate: the most recent periodic report is the quarterly report (10-Q) as of March 31, 2026, filed May 20, 2026 — evaluated and listed in the sources. All 22 filings from that day onward were reviewed individually. The share count comes from the most recent document that states one (proxy statement of 07/09/2026 with 126,311,902 shares pre-split, ownership filing of 07/24/2026 with 1,010,495 shares post-split). Market value was checked against the last price documented in a filing ($0.3756 on 06/01/2026 per the prospectus): a 7 percent difference.

Risk of confusion: T3 Defense Inc. is the same legal entity as the former Nukkleus Inc. and Brilliant Acquisition Corporation (CIK 0001787518) — not a successor company and not a new listing. All share counts through July 9, 2026 are stated before the 1-for-125 reverse split, as are the warrant exercise prices of $2.13 to $92.00 as of March 31, 2026. The going-concern paragraph reprinted in the annual report comes from the predecessor auditor GreenGrowth CPAs and relates to the September 30 and December 31, 2024 statements; the Somekh Chaikin opinion for fiscal 2025 contains no such paragraph.

Two calculations, kept apart on purpose: the cash runway of roughly one and a half quarters ($7.4 million of cash against $4.9 million of quarterly burn) is our own. In the same quarterly report the company budgets roughly $6 million for twelve months, calls the cash "sufficient to fund projected operating expenses through the look-forward period" and concludes that its plans in aggregate alleviate substantial doubt about the going concern. Neither the 10-K for 2025 nor the 10-Q as of 03/31/2026 carries an auditor's going-concern qualification; the "Going concern" note exists but ends with the doubt being alleviated. The negative working capital belongs in the same category: roughly $69 million, of which $56 million are warrant liabilities "that do not require cash settlement".

On Nasdaq Rule 5810(c)(3)(A)(iv): condition (B) — a cumulative 250-to-1 or more over the prior two years — has applied since 07/20/2026 (1-for-8 times 1-for-125 equals 1,000-to-1), but falls away once the 1-for-8 split leaves the two-year window in October 2026 (leaving 125-to-1). Condition (A) is not a state but a trigger: it bites if the price slips back below a dollar within one year of the split becoming effective — that is, through 07/20/2027. The July 20, 2027 date follows from (A) alone.

Stock Watch

This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at DFNS since then.

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Price history

Chart

Interactive price chart (TradingView).

52-week range: 0.042 $ to 85.00 $ · Last price: 7.90 $ (As of: September 17, 2026)

Key figures

Key figures at a glance

Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.

Basics

Market Cap ?The value of the entire company on the market: share price times total shares outstanding. 0.01$B
Shares Outstanding ?Total number of shares issued. Price times share count gives market cap. 1m
Float ?Share of stock freely tradable on the market — not locked up in the hands of founders, insiders, or major shareholders. 37.8%
Beta ?Volatility versus the overall market: 1 = moves like the market, 2 = twice as much, under 1 = calmer than the market. -13.8

Performance

Perf. 1M ?Price performance over the last month. 6,069,900.00%
Perf. 3M ?Price performance over the last 3 months. 2,360,455.60%
Perf. 6M ?Price performance over the last 6 months. 447,163.20%
YTD Performance (%) ?Price performance since the start of the year (Year to Date). 263,813.04%
52-Week-High Distance ?How far the price sits below its highest point over the last 52 weeks. 0% means the stock is at its year high. 0.0%
Perf. 1Y ?Price performance over the last 12 months. -98.82%
Perf. 3Y ?Price performance over the last 3 years. -99.90%
Perf. 5Y ?Price performance over the last 5 years. -99.89%
Perf. 10Y ?Price performance over the last 10 years. 145,825.93%
Perf. Since Inception ?Price performance since the first available trading day (07/22/2020) — with a complete history, that is since the IPO. -99.89%

Technical Indicators

MA 38 Days ?Moving average of the last 38 trading days: the smoothed price path. A price above it signals short-term strength. 24.50$
MA 50 Days ?Moving average of the last 50 trading days — the most widely watched medium-term trend line. 19.10$
MA 200 Days ?Moving average of the last 200 trading days — the dividing line between a long-term uptrend and downtrend. 6.20$
RSI (14) ?Relative Strength Index over 14 days, scale 0 to 100: above 70 counts as overbought, below 30 as oversold. A hint on timing, not a verdict on the company. 38.3
Volatility 30 Days ?Price swings over the last 30 trading days, annualized. The higher the value, the more the price fluctuates. 208.4%
Volatility 250 Days ?Price swings over the last 250 trading days (roughly one market year), annualized. 266.0%

Calculated from the price history · as of 09/18/2026

Valuation

P/E ?Price-to-earnings ratio: how many years of profit does the stock cost? The lower, the cheaper the valuation. No earnings means no P/E.
Forward P/E ?P/E based on expected earnings for the next 12 months instead of past earnings — analysts' bet on the future. 0.0
PEG ?P/E divided by expected earnings growth: puts valuation in relation to growth. Around 1 is considered fair, well above that is pricey.
P/B ?Price-to-book ratio: market value relative to book equity. 0.1
P/S ?Price-to-sales ratio: market value divided by annual sales. Important for companies that aren't (yet) profitable. 0.8
EV/EBITDA ?Enterprise value including debt (EV) relative to operating profit before depreciation and amortization (EBITDA) — more comparable than P/E because debt counts too. Extreme values arise when EBITDA is near zero. 0.2
Price/FCF ?Market value divided by free cash flow: how many years of freely available cash does the stock cost? More honest than P/E because cash flow is harder to dress up.

Profitability

Gross Margin ?Gross margin: what's left of sales after only direct production costs are deducted — the product's pricing power. 18.1%
EBIT Margin ?EBIT margin: operating profit as a percentage of sales — the earning power of the core business before interest and taxes. -104.3%
Net Margin ?Net margin: what's left of sales as profit after ALL costs, interest, and taxes. 0.0%
Return on Equity ?Return on equity: how much profit does the company generate per year on shareholders' equity? -66.0%
Return on Assets ?Return on assets: how much profit the company generates from its total assets (equity and debt combined). -13.2%

Balance Sheet & Safety

Equity Ratio ?Equity ratio: equity as a share of total assets. The higher, the more resilient the balance sheet. very low -9.8%
Debt/Equity ?Leverage ratio: financial debt divided by equity. Under 1 is generally seen as solid; negative values mean negative equity.
Altman Z″ ?Edward Altman's bankruptcy early-warning score. We use the Z″ variant, built from four balance-sheet ratios — it is designed for service companies and non-manufacturers and uses book value instead of market value. On that scale: below 1.1 = danger zone, 2.6 and up = safe zone, in between a grey area. Because the classic Altman Z is calculated differently, the two numbers are not directly comparable. The formula does not fit banks, insurers, or real-estate stocks. warning zone -0.88
Piotroski ?Balance-sheet health check by Joseph Piotroski: 9 yes/no criteria on profit, cash flow, leverage, and efficiency. 7+ is very solid, under 3 is a red flag. 5 out of 9

Growth

Sales Growth Last Quarter ?Sales growth in the most recently reported quarter versus the same quarter a year ago (YoY). 0.00%
EPS Growth Last Quarter ?Growth in earnings per share in the most recently reported quarter versus the same quarter a year ago (YoY). 0.00%
Sales Growth (Year) ?Sales growth in the last fiscal year versus the year before. -100.00%
Forward Sales Growth ?Sales growth analysts expect over the next 12 months — an estimate, not a guarantee.
Forward EPS Growth ?Earnings-per-share growth analysts expect over the next 12 months — an estimate, not a guarantee.

Dividend

This stock currently pays no dividend.

Quality & Screener

Stage ?Weinstein phases 1 through 4: 1 = basing, 2 = uptrend (the only buy phase), 3 = topping, 4 = downtrend. Measured against the 30-week line. 4
RS Rating ?Relative strength from 1 to 99: an RS of 95 means the stock has outperformed 95% of all stocks. 1
EPS Rating ?Earnings growth rating from 1 to 99 versus all stocks — high values mean above-average earnings growth. 42
Fundamental Rating ?Our own Fundamental Rating: 0 to 100 points with an A+ to F grade. 50 points is the average across the universe, 100 the best possible score. It scores growth, earnings surprises, analyst estimates, margins, cash flow, and balance-sheet safety — every stock percentile-ranked against all others. Grades: A+ from 95, A from 75, B from 55, C from 45, D from 25, E from 5, F below. E (21 out of 100)

Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.

Comparison

Industry comparison

The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.

Industry: Aerospace & Defense

Industry comparison
Company Market cap ($B) P/E EV/EBITDA Gross Margin % EBIT Margin % Sales Growth (Year) % Perf. 1Y %
T3 Defense Inc. DFNS 0.0 0.2 18.1 -104.3 -100.0 -98.8
Space Exploration Technologies Corp. SPCX 1,172.1 511.6 51.9
GE Aerospace GE 326.7 40.1 27.6 31.1 20.2 18.5 8.8
RTX Corporation RTX 254.2 36.5 18.5 20.3 13.2 9.7 24.1
The Boeing Company BA 155.3 78.7 25.5 4.7 1.7 34.5 -8.2
Lockheed Martin Corporation LMT 124.1 26.0 13.6 11.8 11.0 5.7 16.7
General Dynamics Corporation GD 96.7 22.8 15.1 15.4 10.5 10.1 11.4
Howmet Aerospace Inc HWM 90.3 52.0 34.8 36.0 28.2 11.1 22.0
Northrop Grumman Corporation NOC 73.6 16.6 11.8 20.1 11.7 2.2 -7.7
Median of companies shown 124.1 36.5 18.5 20.1 11.3 9.9 10.1

Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →

Fiscal years

Annual Figures

Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.

Revenue, operating income and net income per fiscal year $M

Revenue Operating income Net income

2021 · Revenue: 19 $M 2021 · Operating income: -1 $M 2021 · Net income: -1 $M 2022 · Revenue: 22 $M 2022 · Operating income: -11 $M 2022 · Net income: -12 $M 2023 · Revenue: 21 $M 2023 · Operating income: -17 $M 2023 · Net income: -17 $M 2024 · Revenue: 6 $M 2024 · Operating income: -14 $M 2024 · Net income: -9 $M 2025 · Revenue: 0 $M 2025 · Operating income: -33 $M 2025 · Net income: 79 $M
20212022202320242025
Annual Figures
Fiscal Year Revenue ($M) EBIT ($M) Net Income ($M) EPS ($) Operating Cash Flow ($M) Equity ($M) Total Assets ($M)
2021 19 -1 -1 -2.60 1 9 16
2022 22 -11 -12 -23.76 2 11 18
2023 21 -17 -17 -1 -6 3
2024 6 -14 -9 -616.17 -4 -7 1
2025 0 -33 79 1,061.47 -6 -20 202

Quarters

Quarterly Figures

Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.

Revenue & Profit

Cash Flow

Balance Sheet

Margins

Per Share

Click the chart or tab into it, then use ← and → to step through the periods.

None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.

These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.

The figures could not be loaded right now.

Sales Per Quarter ($M)
2024: Q4 · 0.0 $M Q4 2025: Q1 · 0.0 $M Q1 2025: Q2 · 0.0 $M Q2 2025: Q3 · 0.0 $M Q3 2025: Q4 · 0.0 $M Q4 2026: Q1 · 3.7 $M Q1 2026: Q2 · 4.0 $M Q2

Source: fundamental data

Quarterly Figures
Quarter EPS (Earnings Per Share) EPS YoY (%) Sales ($M) Sales YoY (%) Net Margin (%) OCF ($M) FCF ($M)
2024: Q4 -1.70 0 0 0
2025: Q1 1.09 0 -1 -1
2025: Q2 0.03 0 -1 -1
2025: Q3 -251.78 -194.90 0 -100.00 -3 -3
2025: Q4 -72.68 0 -1 -1
2026: Q1 -120.51 -105.30 4 -743.10 -5 -5
2026: Q2 -173.80 -579,433.30 4 -2,035.00 -5 -5

What Do These Terms Mean?

EPS (Earnings Per Share):
Quarterly profit divided by the total share count — how much of the profit works out to a single share.
YoY (Year over Year):
Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
Sales:
All revenue for the quarter, before any costs are deducted — the top line of the income statement.
Net Margin:
What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
OCF (Operating Cash Flow):
The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
FCF (Free Cash Flow):
Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.

Compare with other stocks →

Screening

Appears in These Scanners

This stock currently matches 5 of our scanner strategies — each hit links to the scanner.

Growth

Breakout & Setup

Research

Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners

Outlook

Analysts & Price Target

Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.

Consensus
Analyst Ratings
Price Target (average) 65.00$
Distance to price 722.8% The price target sits 722.8% above the current price.

Estimates by Fiscal Year

Estimates by Fiscal Year
Fiscal Year EPS Estimate ($) EPS Range ($) Revenue Estimate ($M) Expected Growth Analysts
12/31/2026 -13.76 -13.76 – -13.76 24 1
12/31/2027 -3.29 -3.29 – -3.29 32 76.1% 1

Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.

Valuation

What is priced in?

Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.

A simplified model calculation — not a forecast and not a recommendation.

AI classification

AI Rating

Sells AI

Die Tochter Tiltan Software Engineering führt im Geschäftsbericht Majestic.ai — eine generative KI-Plattform für synthetische Trainingsdaten — als eines von fünf Hauptprodukten und erlöste 2025 rund 2,185 Mio. US-Dollar; laut Bericht ist Majestic.ai allerdings erst eine „working alpha version“ mit ersten Verteidigungskunden, und Tiltans Umsatz ist im Konzernabschluss 2025 noch nicht enthalten (erst ab dem ersten Quartal 2026 als Segment mit 0,592 Mio.). Die Konzernstrategie nennt „advanced AI applications“ ausdrücklich als Zielkriterium der Zukäufe; der im Juli 2026 erworbene Drohnen-Interceptor HY-380 von Project 35 befindet sich laut Meldung in der Entwicklung und nutzt optische KI-Zielverfolgung.

View the full file — quotes, sources, reviewed filings
„Tiltan offers five principal products and platforms: (1) T-AWARE, an exploitation system for processing, analyzing, and visualizing multi-sensor intelligence data; (2) TOPS, a physics-based simulation platform that generates high-fidelity imagery across visible light (standard camera imagery similar to what the human eye sees), infrared (heat-based imagery useful for seeing in darkness), and synthetic aperture radar or SAR (radar imaging that can detect objects through clouds, darkness, and adverse weather conditions); (3) Majestic.ai, a generative AI platform for creating realistic synthetic datasets used to train AI systems more quickly and cost-effectively than using real-world imagery; (4) T-BAT, a software-only navigation solution for drones and aircraft that enables autonomous operation when GPS signals are unavailable, jammed, or unreliable; and (5) AGM, a rapid automatic geo-mapping tool that converts spatial data into actionable geospatial intelligence."

Tiltan bietet fünf Hauptprodukte und -plattformen an: (1) T-AWARE, ein Auswertungssystem zur Verarbeitung, Analyse und Darstellung von Aufklärungsdaten aus mehreren Sensoren; (2) TOPS, eine physikbasierte Simulationsplattform, die hochaufgelöste Bilder für sichtbares Licht (normale Kamerabilder, wie sie das menschliche Auge sieht), Infrarot (Wärmebilder, nützlich zum Sehen bei Dunkelheit) und Radar mit synthetischer Apertur (SAR, Radarbilder, die Objekte durch Wolken, Dunkelheit und schlechtes Wetter hindurch erfassen) erzeugt; (3) Majestic.ai, eine generative KI-Plattform zur Erzeugung realistischer synthetischer Datensätze, mit denen sich KI-Systeme schneller und kostengünstiger trainieren lassen als mit echten Aufnahmen; (4) T-BAT, eine reine Software-Navigationslösung für Drohnen und Flugzeuge, die autonomen Betrieb ermöglicht, wenn GPS-Signale fehlen, gestört oder unzuverlässig sind; und (5) AGM, ein Werkzeug zur schnellen automatischen Geo-Kartierung, das Raumdaten in verwertbare Geoinformationen umwandelt.

10-K · 2026-04-09 · View SEC filing

„Tiltan reported revenues of approximately $2,964,000 and $2,185,000 for the fiscal years ended December 31, 2024 and December 31, 2025, respectively, but has not been included in the Company’s 2025 Financial Statements."

Tiltan wies für die Geschäftsjahre bis zum 31. Dezember 2024 bzw. zum 31. Dezember 2025 Umsätze von rund 2.964.000 und 2.185.000 US-Dollar aus, ist aber im Konzernabschluss 2025 der Gesellschaft nicht enthalten.

10-K · 2026-04-09 · View SEC filing

„The Company believes that Tiltan’s key competitive advantages include over 30 years of proven delivery to all major Israeli defense companies; a proprietary physics-based 3D engine that provides full control over development, special features, and no third-party royalty obligations; the ability to generate synthetic data across visible light, infrared, and SAR sensor types, addressing the most demanding defense use cases; a working alpha version of its Majestic.ai platform with early adoption by defense customers; and recognition from the Israeli Ministry of Defense, including an award in an advanced computer vision competition and validation of its infrared simulation capabilities against competitors, in which Tiltan’s results outperformed other participants."

Nach Auffassung der Gesellschaft zählen zu den wesentlichen Wettbewerbsvorteilen von Tiltan über 30 Jahre nachgewiesener Lieferungen an alle großen israelischen Rüstungsunternehmen; eine eigene physikbasierte 3D-Engine, die volle Kontrolle über die Entwicklung und Sonderfunktionen bietet und ohne Lizenzabgaben an Dritte auskommt; die Fähigkeit, synthetische Daten für sichtbares Licht, Infrarot und SAR-Sensoren zu erzeugen und damit die anspruchsvollsten Verteidigungsanwendungen zu bedienen; eine funktionsfähige Alpha-Version der Plattform Majestic.ai mit ersten Verteidigungskunden; sowie Anerkennung durch das israelische Verteidigungsministerium, darunter eine Auszeichnung in einem Wettbewerb für fortgeschrittenes maschinelles Sehen und eine Bestätigung der Infrarot-Simulationsfähigkeiten im Vergleich mit Wettbewerbern, bei dem Tiltans Ergebnisse besser abschnitten als die der übrigen Teilnehmer.

10-K · 2026-04-09 · View SEC filing

„Tiltan’s Majestic.ai platform is positioned to address this growing demand by providing physically accurate, validated outdoor visual sensor synthetic datasets for defense and, increasingly, commercial AI applications."

Tiltans Plattform Majestic.ai ist darauf ausgerichtet, diese wachsende Nachfrage zu bedienen, indem sie physikalisch exakte, validierte synthetische Datensätze für optische Außensensoren für Verteidigungsanwendungen und zunehmend auch für kommerzielle KI-Anwendungen bereitstellt.

10-K · 2026-04-09 · View SEC filing

Filings Reviewed: 10-K 2026-04-09 · 10-Q 2026-05-20 · 10-Q 2025-11-14 · 10-Q 2025-08-14 · 10-Q 2025-05-23 · 10-KT 2025-05-08 · 10-K 2025-02-10 · 8-K 2026-07-09

Rated on July 31, 2026 · How the Rating Is Built

Growth

Growth Score

Ten checks against the annual reports — each one passed counts a point.

4 of 10 Weak growth
  • Revenue grows by more than 15% a year over three years -100.0%
  • More than 10% revenue growth is expected for the coming year no data
  • Share count grows by less than 3% a year -47.1%
  • Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") no data
  • Gross margin at 40% or higher and without meaningful erosion no data
  • Goodwill from acquisitions does not grow faster than revenue 3.8%
  • Net debt below twice EBITDA 2 m net cash
  • Operating cash flow covers the profits of the last three years -64 m
  • Return on capital at 15% or higher, or up versus two years ago -20.5%
  • Insiders hold at least 10% or are net buyers 29.9%

A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail

Quality check

AAQS

1/10

The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).

  • Sales growth 10Y > 5% -100.0%
  • Exp. sales growth 3Y > 5%
  • EBIT growth 10Y > 5%
  • Exp. EBIT growth 3Y > 5%
  • Net debt < 4x EBIT
  • EBIT positive, 10Y straight 0
  • Max. EBIT decline < 50%
  • Return on equity > 15%
  • ROCE > 15% -20.5%
  • Expected return > 10%

View stocks with the full AAQS score · Read the methodology at AlleAktien

Source: fundamental data

The company

About the Company

T3 Defense Inc. acquires and operates aerospace and defense businesses in the United States and Israel. It engages in supplying generators for iron dome launchers and defense systems; defense and aerospace applications, including GPS-denied navigation, 3D mapping, simulation systems, and AI training platforms; design and manufacture of motion control systems for military and civilian use; and distribution of advanced drone payload systems for defense and homeland security markets. The company also offers unmanned arial systems and services; design, development, production, and manufacturing of serial, fully integrated electro-mechanical machines, and sophisticated assembly lines. In addition, it is involved in aviation and defense infrastructure, such as logistics hubs, maintenance, repair, and operations facilities, and aircraft modernization capabilities. The company was formerly known as Nukkleus Inc. and changed its name to T3 Defense Inc. in February 2026. T3 Defense Inc. was founded in 2013 and is headquartered in New York, New York.

Employees
112
Headquarters
New York, NY
Address
575 Fifth Avenue, 10017 New York, United States
Phone
212 791 4663
Website
t3dfns.com
IPO Date
03/23/2020
ISIN
US67054R3021
Stock Split
1:125 on 07/20/2026
Stock Split
1:8 on 10/24/2024
Stock Split
140:100 on 12/26/2023

Management

Management
Name Title Birth Year
Menachem Shalom CEO & Director 1975
Roy Cohen Chief Financial Officer 1968
Yair Ohayon Investor Relations Manager & Chief Marketing Officer
Emil Blumer Chief Business Officer
Jordan Buchler Chief Executive Officer of Manufacturing & Industrial Processing Division 1963

Executives per the latest required filings; titles kept in their original language. Source: fundamental data.

Filings

Company Filings (8-K)

An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).

  • 09/11/2026 T3 Defense Inc. (DFNS): Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Financial Statements and Exhibits SEC ↗
  • 09/10/2026 T3 Defense Inc. (DFNS): Other Events; Financial Statements and Exhibits SEC ↗
  • 08/31/2026 T3 Defense Inc. (DFNS): Termination of a Material Definitive Agreement; Other Events; Financial Statements and Exhibits SEC ↗
  • 08/20/2026 T3 Defense Inc. (DFNS): Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing SEC ↗
  • 08/17/2026 T3 Defense Inc. (DFNS): Other Events SEC ↗
  • 08/06/2026 T3 Defense Inc. (DFNS): Submission of Matters to a Vote of Security Holders SEC ↗
  • 07/16/2026 T3 Defense Inc. (DFNS): Material Modifications to Rights of Security Holders; Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Financial Statements and Exhibits SEC ↗
  • 07/15/2026 T3 Defense Inc. (DFNS): Other Events; Financial Statements and Exhibits SEC ↗

Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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