KWESST Micro Systems Inc

KWESST Micro Systems, Inc. provides defense and security services. It engages in advancing the modern networked capability of soldiers and responders, including the networked Soldier Systems mission of NATO and its allies, with niche applications that make a critical difference to safety and effectiveness. The firm's technology portfolio includes its proprietary MISST system, Micro Integrated Systems and Software Technology. The company was founded by Jeff Macleod on November 28, 2017 and is headquartered in Ottawa, Canada.

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

KWESST Micro Systems, Inc. provides defense and security services. The firm's technology portfolio includes its proprietary MISST system, Micro Integrated Systems and Software Technology. The company was founded by Jeff Macleod on November 28, 2017, and is headquartered in Ottawa, Canada.

Ottawa, Ontario--(Newsfile Corp. - November 11, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U)("KWESST" or the "Company") today announces that it intends to issue a total of 119,047 common shares at a deemed price per common share of $0.84 per share (the "Shares"), representing a 20% discount on the closing price of the Shares on the TSX Venture Exchange (the "TSXV") on the last trading day prior to this news release, for settlement for reimbursement of business expenses incurred while representing the Company in an aggregate amount of $100,000 owed to a company controlled by Mr. David Luxton, Executive Chairman of the Company (the "Debt Settlement").

KWESST Announces Issuance of Shares in Payment of Certain Debts

Ottawa, Ontario--(Newsfile Corp. - November 1, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company"), today announced the closing of its previously announced best efforts public offering of 3,889,000 common shares ("Common Shares") (or pre-funded warrants ("Pre-funded Warrants") in lieu thereof,) at a public offering price of US$0.90 per Common Share (or Pre-funded Warrant (inclusive of the Pre-Funded Warrant exercise price)), less the placement agent fees. The gross proceeds from the offering were approximately US$3,500,000, before deducting placement agent fees of US$0.0675 per Common Share (being an aggregate of US$262,508 or 7.5% of the public offering price of the securities) and estimated offering expenses were approximately US$300,000.

KWESST Micro Systems Inc. Announces Closing of Public Offering

Ottawa, Ontario--(Newsfile Corp. - October 30, 2024) - KWESST Micro Systems Inc.  (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company"), today announced the pricing of a best efforts public offering of 3,889,000 common shares (or pre-funded warrants ("Pre-funded Warrants") in lieu thereof) at a public offering price of US$0.90 per common share (inclusive of the Pre-Funded Warrant exercise price), for gross proceeds of approximately US$3,500,000, before deducting placement agent fees and offering expenses. All of the common shares (or Pre-funded Warrants) are being offered by the Company.

KWESST Micro Systems Inc. Announces Pricing of Public Offering

Company also establishes financing facility for its programmatic military contracts Ottawa, Ontario--(Newsfile Corp. - October 23, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company") today announced it has completed its plan to ramp up volume production of ARWEN cartridges, including the new 40mm baton round following successful characterization testing by a recognized ballistics laboratory. The ARWEN system is long-established in the law enforcement community and was designed as an alternative to lethal force for maintaining public order in the event of riots and civil unrest during protests and demonstrations.

KWESST Announces Completion of Volume Production Ramp-Up for Arwen Cartridges Through Outsourcing with Ammunition Manufacturer to Meet Growing Demand

Ottawa, Ontario--(Newsfile Corp. - October 21, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company") announces that, further to the Company's press release on October 10, 2024, the Company has received approval of the TSX Venture Exchange (the "TSX-V") for the consolidation of the Company's issued and outstanding common shares (each, a "Share") on the basis of ten (10) pre-consolidation Shares for each one (1) post-consolidation Share (the "Consolidation"). The Consolidation was effected pursuant to a resolution of the board of directors of the Company dated October 9, 2024.

KWESST Announces Share Consolidation Effective Date

Ottawa, Ontario--(Newsfile Corp. - October 10, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company") announces that its board of directors (the "Board") has authorized a plan to proceed with a consolidation of its outstanding common shares (each, a "Share") on the basis of ten (10) pre-consolidation Shares for each one (1) post-consolidation Share (the "Consolidation"). The Consolidation is subject to approval of the TSX Venture Exchange (the "Exchange").

KWESST Announces Proposed Share Consolidation

A strong start to the Thales sub-contract over the first few months since award. Ottawa, Ontario--(Newsfile Corp. - October 1, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company") today updated investors on the ramp-up of activity on its sub-contract to Thales Canada in support of the Canadian Department of National Defence Land C4ISR series of contracts to modernize the Canadian Army's capabilities through advanced land command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems program.

KWESST Updates Investors on Programmatic Business Ramp-Up

Ottawa, Ontario--(Newsfile Corp. - September 27, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company") announces the postponement of the special meeting (the "Meeting") of KWESST shareholders (the "Shareholders") in connection with the proposed consolidation of the Company's share capital (the "Consolidation"). The Meeting will reconvene on October 7, 2024, at 3:00 p.m.

KWESST Announces Postponement of Special Meeting of Shareholders

Ottawa, Ontario--(Newsfile Corp. - August 27, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (TSXV: KWE) (TSXV:KWE.WT.U) ("KWESST" or the "Company") today announced the results of its 2024 Annual and Special Meeting of shareholders held on Monday, August 26, 2024 in virtual format. Shareholders approved all the resolutions detailed in the management information circular of the Company dated July 16, 2024, namely: To set the number of Directors at seven; Electing all the nominees to the Board of Directors of the Company; Appointing MNP LLP as auditor of the Company for the ensuing year and authorizing the directors to determine the auditor's compensation; and Approving the Company's amended long term incentive plan.

KWESST Announces Results of 2024 Annual General and Special Meeting of Shareholders

Ottawa, Ontario--(Newsfile Corp. - August 15, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or the "Company") is pleased to announce the highlights of its fiscal 2024 ("Fiscal 2024") third quarter ("Q3") results. This announcement is a summary only and should be read in conjunction with KWESST's unaudited condensed consolidated financial statements and related management discussion and analysis, for the three- and nine-month period ended June 30, 2024 ("Q3 2024 FS").

KWESST Micro Systems Announces Q3 2024 Financial Results

Ottawa, Ontario--(Newsfile Corp. - August 13, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company"), today announced the closing of its previously announced registered direct offering for the purchase and sale of 4,715,000 common shares at a purchase price of $0.20 per common share. In a concurrent private placement, the Company issued unregistered warrants to purchase up to 4,715,000 common shares at an exercise price of $0.25 per share that were immediately exercisable upon issuance and will expire five years following the date of issuance.

KWESST Micro Systems Inc. Announces Closing of Registered Direct Offering

Ottawa, Ontario--(Newsfile Corp. - August 12, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company"), today announced that it has entered into definitive agreements for the purchase and sale of 4,715,000 common shares at a purchase price of US$0.20 per common share in a registered direct offering. In a concurrent private placement, the Company will issue unregistered warrants to purchase up to 4,715,000 common shares at an exercise price of US$0.25 per share that will be immediately exercisable upon issuance and will expire five years following the date of issuance.

KWESST Micro Systems Inc. Announces Registered Direct Offering

Ottawa, Ontario--(Newsfile Corp. - August 7, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company") today announced that a G7 capital city police service (the "Agency") has taken delivery of three T-SAS™ systems (previously announced as "Overwatch Commander" when the order was taken in 2023) and in conjunction has entered into an agreement (at the close of business on August 6) with the Company for a limited time free trial of KWESST Lightning™. T-SAS™ stands for "TAK-enabled Sniper and Surveillance System" and is KWESST's proprietary software application that streams secure-encrypted networked video from police observation scopes, sniper scopes, drones and other sources.

G7 Capital City Police Take Delivery of KWESST T-SAS Systems(TM) and Enter into Agreement to Trial KWESST Lightning(TM)

Ottawa, Ontario--(Newsfile Corp. - June 12, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company"), today announced the pricing of its best efforts public offering of 2,900,000 common shares at a public offering price of US$0.58 per share, for gross proceeds of approximately US$1,682,000, before deducting placement agent fees and offering expenses. All of the common shares are being offered by the Company.

KWESST Micro Systems Inc. Announces Pricing of United States Public Offering

Ottawa, Ontario--(Newsfile Corp. - June 12, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company") today announced that it intends to offer to sell common shares (and/or pre-funded warrants ("Pre-funded Warrants") in lieu thereof) in a best efforts United States public offering. All of the common shares (and/or Pre-funded Warrants) are to be sold by the Company.

KWESST Micro Systems Inc. Announces Proposed United States Public Offering

Kwesst Micro Systems (NASDAQ: KWE ) stock is soaring higher on Monday after the tactical systems and ammunition company secured a new contract worth up to $48 million. According to a Kwesst Micro Systems press release, the company is working with the Thales Canada as a sub-contractor for the Canadian Department of National Defence.

Why Is Kwesst Micro Systems (KWE) Stock Up 121% Today?

Ottawa, Ontario--(Newsfile Corp. - June 10, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW); ("KWESST" or the "Company") today reported that it has been awarded a sub-contract by Thales Canada. Under the sub-contract, KWESST will deliver specialized software services for work under the Canadian Department of National Defence Land C4ISR series of contracts to modernize the Canadian Army's capabilities through advanced land command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems.

KWESST Secures Contract Valued at up to $48M for Software Development Services with Thales Canada to Support Canadian Army Digital Modernization

Ottawa, Ontario--(Newsfile Corp. - May 23, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or "the Company") announces today the appointment of MNP LLP (the "Successor Auditor") as auditor for the Company until the close of the next annual general meeting. KWESST and the board of directors would like to extend their thanks to KPMG for their auditing services to date.

KWESST Announces Change of Auditors

Ottawa, Ontario--(Newsfile Corp. - May 20, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or the "Company"), announced today that the Company received written notification (the "Notification Letter") from The Nasdaq Stock Market LLC ("Nasdaq") on May 16, 2024, indicating that the Company is not in compliance with the minimum bid price requirement set forth in the Nasdaq rules for continued listing on Nasdaq, which requires listed securities to maintain a minimum bid price of US$1.00 per share ("Minimum Bid Requirement"). Based on the closing bid price of the Company's common shares for the 30 consecutive business days from April 4, 2024 to May 15, 2024, the Company failed to meet the Minimum Bid Requirement set forth in Nasdaq Listing Rule 5550(a)(2) during that period.

KWESST Receives NASDAQ Notification Regarding Minimum Bid Price Deficiency

Ottawa, Ontario--(Newsfile Corp. - May 20, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or the "Company"), wishes to advise that KPMG LLP, Chartered Professional Accountants (the "Predecessor Auditor"), has confirmed to the Company its intention to not stand for re-election at the Company's next annual general meeting of its shareholders (the "Meeting") and will not serve as the Company's auditor in respect of its fiscal year ended September 30, 2024. The Company is currently in final stages of its appointment process for a successor auditor, which it expects to be in a position to confirm and announce shortly.

KWESST Provides Update Regarding Auditor Change

KWESST Lightning TM SaaS app to be incorporated into pilot project in support of Red Cross disaster relief operations KWESST to present Lightning TM app at Canadian Association of Chiefs of Police Ottawa, Ontario--(Newsfile Corp. - May 17, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) ("KWESST" or the "Company") today announced that it has been awarded a contract with its teaming partner CounterCrisis Tech ("CCT") for a proof of concept project (the "Project") to provide a situational awareness app in support of Canadian Red Cross ("CRC") emergency and disaster relief operations. The Project is to commence at the end of May and be completed by October 2024.

KWESST Awarded Contract to Pilot Situational Awareness App for Canadian Red Cross, Company to Present KWESST Lightning(TM) to Canadian Association of Chiefs of Police

Ottawa, Ontario--(Newsfile Corp. - May 16, 2024) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) (FSE: 62UA) ("KWESST" or the "Company") is pleased to announce the highlights of its fiscal 2024 ("Fiscal 2024") second quarter ("Q2") results. This announcement is a summary only and should be read in conjunction with KWESST's unaudited condensed consolidated financial statements and related management discussion and analysis, for the three- and six-month period ended March 31, 2024 ("Q2 2024 FS").

KWESST Micro Systems Announces Q2 2024 Financial Results

Up to $75M in stable revenue visibility from military digitization contracts through 2028 MOU signed with University of Ottawa to hire software coding graduates KWESST working with large Canadian police agency as first adopter of KWESST Lightning™ in advance of full market release ARWEN scaling to multiples of historical revenue, major agencies continue evaluations of PARA OPS Ottawa, Ontario--(Newsfile Corp. - April 30, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (TSXV: KWE) (TSXV: KWE.WT. U) ("KWESST" or the "Company") is pleased to report on progress in the business ahead of filing its fiscal Q2 financial results on May 14, and to provide an outlook of revenue ramp-up and corporate developments.

KWESST Provides Corporate Update Ahead of Fiscal Q2 2024 Results

Ottawa, Ontario--(Newsfile Corp. - April 9, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company"), today announced the closing of its previously announced underwritten public offering of 735,000 common shares and 803,500 pre-funded warrants with an exercise price of $0.001 ("Pre-funded Warrants") at a public offering price of US$0.65 per share and US$0.649 per Pre-funded Warrant, less the underwriting discount. The gross proceeds from the offering, before deducting the underwriting discount of US$0.04875 per common share (being an aggregate of US$75,002 or 7.5% of the public offering price of the securities) and estimated offering expenses payable by the Company, were approximately US$1,000,000.

KWESST Micro Systems Inc. Announces Closing of United States Public Offering

ARWEN orders, backlog continue to grow following reorganization Outlook on military digitization revenue strengthens Ottawa, Ontario--(Newsfile Corp. - March 21, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (TSXV: KWE) (TSXV: KWE.WT.U) (FSE: 62UA) ("KWESST" or the "Company") today updated investors on the ramp-up of business in Fiscal Q2 2024 ending March 31st, 2024 ("Q2") and the outlook heading into Fiscal Q3 ending June 30, 2024 ("Q3"). "Reorganization of our ARWEN business in Q2 and ramp-up of our military digitization business have provided stronger revenue visibility, which we are pleased to share with investors," said Sean Homuth, KWESST President and CEO.

News for KWESST Micro Systems Inc Stock (KWE)