Defsec Technologies Inc. balance sheet

At the end of fiscal 2025, Defsec Technologies Inc. had total assets of $9.3m, total liabilities of $3.7m and shareholders' equity of $5.6m. It held $4.8m in cash against $0 of debt: net cash of $4.8m.

Balance sheet

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Defsec Technologies Inc.: balance sheet, annual
Fiscal year	2020Dec 2019	2021Sept 2021	2022Sept 2022	2023Sept 2023	2024Sept 2024	2025Sept 2025
Cash and equivalents	—	2,121	124	3,995	190	4,801
Receivables	170	552	125	222	420	1,073
Inventory	—	71	286	401	395	373
Total current assets	228	3,200	1,103	5,055	1,364	6,424
Total assets	540	6,879	5,325	8,688	4,157	9,278
Total current liabilities	466	915	5,036	4,716	2,202	2,095
Short-term debt	0	0	1,600	0	—	—
Long-term debt	163	42	57	0	—	—
Total debt	163	42	1,657	0	0	0
Total liabilities	719	2,047	6,055	5,780	3,145	3,676
Shareholders' equity	−179	4,832	−729	2,908	1,013	5,602
Net debt (negative = net cash)	—	−2,079	1,533	−3,995	−190	−4,801
Shares outstanding	—	2m	—	—	—	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Defsec Technologies Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Defsec Technologies Inc.