Subsidiaries Rimon and Tiltan Hit Record Revenue, Backlog Surges
DFNS has more than doubled off its 52-week low of $3.7.
Summary
T3 Defense's subsidiaries Rimon and Tiltan reported record year-to-date revenue and backlog, signaling a potential operational turnaround. Rimon posted $2.6M in July revenue—an all-time monthly high—and YTD revenue of ~$5.25M, already surpassing full-year 2025. It expects to exceed $7.2M for 2026. Tiltan recorded ~$1.0M YTD revenue with $2.5M in purchase orders and a $1.5M backlog, guiding for over $4.0M in 2026. This follows a period of severe financial distress, including a going concern warning, Nasdaq delisting notice, and highly dilutive financing. The strong operating metrics suggest the underlying businesses are gaining traction, potentially improving the company's survival prospects. However, the massive dilution from recent share issuances and the reverse split on July 20 mean per-share benefits are limited. The news provides a tangible positive data point for a stock that has been under extreme pressure.
At the time of this announcement, DFNS was trading at $35.98 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $85.9M. The 52-week trading range was $3.70 to $1,948.75. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.