For the quarter ending 2026-03-31, DFNS had $3,726K increase in cash & cash equivalents over the period. -$5,081K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 |
|---|---|---|
| Net loss from discontinued operations | -104 | - |
| Net income (loss) for the year from continuing operations | -26,247 | 76,601 |
| Net income (loss) for the period from continuing | -26,351 | - |
| Net loss from discontinued operations | -104 | - |
| Impairment loss | - | 4,344 |
| Amortization of debt discount | 166 | 0 |
| Depreciation | 22 | 4 |
| Stock-based compensation | 1,907 | 18,826 |
| Interest earned on marketable securities held in trust account | 1,789 | 278 |
| Shares issued as part of settlement agreement | - | 157 |
| Employee termination benefits | 3 | - |
| Shares issued as penalty for filing | - | 300 |
| Change in deferred taxes | 42 | - |
| Shares issued as commitment for eloc agreement | - | 1,250 |
| Interest on loans | 183 | - |
| Gain on marketable securities | -91 | 301 |
| Loss on extinguishment of convertible notes payable | - | 7,080 |
| Day one loss on stock purchase warrants issued in connection with private placement | - | -13,435 |
| Day one loss on stock purchase warrants issued in connection with private placement | 15,429 | 2,817 |
| Change in fair value - stock purchase warrant liabilities | 6,188 | -130,135 |
| Change in fair value of liability-classified stock purchase warrants | 124 | -588 |
| Changes in lease assets and lease liabilities | -88 | 151 |
| Loss on extinguishment of vendor obligations | - | 0 |
| Trade receivables | 400 | - |
| Gain on extinguishment of vendor obligations | - | 0 |
| Other current assets | -139 | 264 |
| Gain on extinguishment of affiliates liabilities due to | - | 0 |
| Inventory | 285 | - |
| Gain on deconsolidation | - | 0 |
| Accounts payable | -1,453 | 30 |
| Change in fair value of derivative liabilities | - | 0 |
| Accrued expenses and other current liabilities | 995 | 760 |
| Loss on reclassification of stock purchase warrants from equity-classified to liability-classified | - | 0 |
| Due to affiliates | 0 | 0 |
| Interest payable - related parties | 0 | -34 |
| Net cash used in operating activities continuing operations | -4,565 | -6,147 |
| Net cash used in operating activities discontinuing operations | -362 | -51 |
| Net cash used in operating activities | -4,927 | -6,198 |
| Investment in short term securities | - | 50 |
| Loan granted | - | 2,351 |
| Cash used in purchase of subsidiaries | 5,042 | - |
| Investment of cash in trust account | - | 172,500 |
| Investment in short term securities | 239 | - |
| Due to affiliates | 4 | 984 |
| Cash provided by purchase of subsidiary | -1,138 | -449 |
| Payment on property and equipment | 154 | 31 |
| Advance to target of planned acquisition | 0 | -3,500 |
| Proceeds from sale of investment | - | 0 |
| Net cash used in investing activities continuing operations | - | -178,867 |
| Net cash used in investing activities discontinuing operations | - | -960 |
| Net cash used in investing activities | -3,823 | -179,827 |
| Business combination, net of issuance costs | - | 0 |
| Repayment of short term bank credit | 575 | - |
| Proceeds from issuance of loans payable - related parties | 411 | 0 |
| Proceeds from issuance of common stock, net of issuance costs | - | 0 |
| Proceeds from issuance of convertible notes payable and embedded derivative, net of issuance costs | - | 0 |
| Proceeds from issuance of convertible notes payable and stock purchase warrants, net of issuance costs | - | 0 |
| Proceeds from issuance of private placement and embedded derivative, net of issuance costs | - | 9,225 |
| Dividend payment | 297 | - |
| Proceeds from issuance of note payable and stock purchase warrants | - | 0 |
| Proceeds from sale of spac units and private placement units, net of issuance costs | - | 172,854 |
| Proceeds from issuance of private placement | 10,000 | - |
| Net cash provided by financing activities continuing operations | - | 181,985 |
| Repayments on loans payable - related parties | 593 | 94 |
| Net cash provided by financing activities discontinuing operations | - | 0 |
| Proceeds from issuance of eloc shares | 3,530 | - |
| Net cash provided by financing activities | 12,476 | 181,985 |
| Effect of exchange rate changes on cash and cash equivalents continuing operations | 0 | 95 |
| Effect of exchange rate changes on cash and cash equivalents discontinuing operations | 0 | 34 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 3,726 | -3,911 |
T3 Defense Inc. (DFNS)
T3 Defense Inc. (DFNS)