T3 Defense Inc. DFNS
known as Nukkleus Inc.) (the "Company" or "T3") was formed on May 24, 2019 under the name Brilliant Acquisition
Corporation for the purpose of engaging in a business combination. On June 23, 2023, Brilliant Acquisition Corporation, a British Virgin
Islands company (prior to the Merger "Brilliant", and following the Merger, a Delaware corporation "Nukkleus"),
entered into an Amended and Restated Agreement and Plan of Merger (as amended by the First Amendment to the Amended and Restated Agreement
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $5.9M | $21.3M | $21.5M | — | — | — |
| Cost of revenue | — | $4.9M | $21.6M | $22.2M | — | — | — |
| Gross profit | — | $998.5K | -$343.1K | -$661.4K | — | — | — |
| SG&A | $28.1M | $6.7M | — | — | — | — | — |
| Total operating expenses | $32.6M | $7.1M | $14.7M | $10.5M | — | — | — |
| Operating income | -$32.6M | -$7.1M | -$14.7M | -$11.1M | -$670.9K | -$148.0K | -$20.7K |
| Interest expense | $154.0K | $387.0K | $1.8K | — | — | — | — |
| Pre-tax income | $76.6M | -$7.4M | -$17.4M | -$11.8M | — | — | — |
| Income tax | $9.0K | — | — | — | — | — | — |
| Net income | $78.5M | -$8.5M | -$17.4M | -$11.8M | -$599.1K | -$317.7K | -$20.7K |
| EPS, basic | 8.45 | -4.93 | -13.84 | -1.21 | -0.10 | — | — |
| EPS, diluted | 7.96 | -4.93 | -13.84 | -1.21 | -0.10 | -0.09 | -0.04 |
| Shares, diluted (wtd. avg.) | 9.2M | 1.7M | 1.3M | 9.8M | 6.1M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.6M | $6.9M | $7.8K | $2.4M | $1.2M | $712.8K | $27.7K |
| Short-term investments | $250.0K | — | — | — | — | — | — |
| Receivables | $506.0K | — | — | — | — | — | — |
| Total current assets | $13.6M | $9.1M | $2.9M | $3.7M | $47.7M | $46.7M | — |
| Property, plant and equipment | $101.0K | — | — | — | — | — | — |
| Goodwill | $7.7M | — | — | — | — | — | — |
| Other intangibles | $16.0K | $19.3K | $33.0K | $8.1M | — | — | — |
| Total assets | $202.4M | $9.1M | $3.4M | $18.4M | $47.7M | $46.7M | $210.0K |
| Accounts payable | $124.0K | $70.0K | $138.7K | $51.7K | $309.6K | $25.9K | $427 |
| Short-term debt | $12.0K | — | $17.5K | $17.5K | — | — | — |
| Total current liabilities | $43.5M | $171.4M | $9.1M | $7.5M | $1.9M | $328.0K | $205.7K |
| Long-term debt | — | $1.6M | — | — | — | — | — |
| Total liabilities | $45.2M | $172.5M | $9.5M | $7.5M | $2.1M | $575.7K | $205.7K |
| Retained earnings | -$122.5M | -$201.1M | -$31.8M | -$14.3M | -$5.7M | -$3.7M | -$20.7K |
| Total equity | -$19.8M | -$163.3M | -$6.2M | $10.9M | $9.2M | $154.8K | $4.3K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.2M | -$3.8M | -$1.2M | $1.6M | -$430.9K | -$137.1K | -$20.2K |
| Depreciation and amortisation | $4.0K | — | $273.7K | $264.2K | — | — | — |
| Stock-based compensation | $18.8M | $230.0K | $370.9K | $1.9M | — | — | — |
| Capital expenditure | $31.0K | — | — | — | — | — | — |
| Investing cash flow | -$179.8M | $133.0K | -$1.1M | -$35.0K | -$1.4M | -$46.0M | — |
| Financing cash flow | $182.0M | $3.0M | $418.3K | -$40.4M | $1.4M | $46.8M | $47.9K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-097287.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $21.5M | $21.3M | $5.9M | — |
| Gross profit | — | — | — | -$661.4K | -$343.1K | $998.5K | — |
| Net income | -$20.7K | -$317.7K | -$599.1K | -$11.8M | -$17.4M | -$8.5M | $78.5M |
Recent filings and events
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event Item 8.01
- Shareholder rights changed Item 3.03
- Charter or fiscal year changed Item 5.03
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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