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KWESST Micro Systems Inc. (NASDAQ: KWE) develops and commercializes advanced tactical systems designed primarily for military and security forces. The company's innovative offerings span lethal and non-lethal technologies, providing modern solutions in areas such as tactical digitization, situational awareness, countermeasures against electronic threats, and personal defense.
Headquartered in Ottawa, Canada, KWESST's core products include real-time digitization tools for tactical forces, facilitating seamless communication and data sharing. Their advanced systems can be integrated with existing OEM products and battlefield management systems, ensuring comprehensive and cohesive operational capabilities. The company’s portfolio also features countermeasure technologies aimed at neutralizing threats like drones, lasers, and electronic detection.
KWESST has recently developed and introduced the PARA OPS™ line, a non-lethal defense product range catering to law enforcement and personal security markets. This new line underscores the company’s commitment to evolving with market demands and technological advancements.
The company's global outreach is supported by operational hubs in Guelph, Ontario, and Youngsville, North Carolina, with representative offices in London, UK, and Abu Dhabi, UAE. This international presence ensures KWESST’s capacity to serve a diverse clientele across different regions.
Recent achievements include significant contracts with defense and security agencies. Notably, KWESST is engaged in a six-year sub-contract valued at up to CAD $48 million with Thales Canada, focusing on modernizing the Canadian Army’s C4ISR capabilities. Moreover, the company has secured a ramp-up contract with the Canadian Department of National Defence (DND) for the DSEF program, with potential revenues of up to $27 million over the next five years.
Financially, KWESST's latest fiscal report reveals a substantial 200% increase in quarterly revenue compared to the previous year, driven by the ARWEN product line and digitization contracts. The company has also effectively managed operational expenses, reflecting a strategic pivot from development to revenue generation.
The company is actively pursuing further market penetration with their KWESST Lightning™ SaaS app, designed to enhance situational awareness for public safety agencies. This initiative is part of KWESST’s broader strategy to extend its tactical technology expertise into civilian applications.
KWESST is publicly traded on several exchanges, including NASDAQ (KWE), TSXV (KWE), and FSE (62UA), providing ample opportunities for investors to engage with the company’s growth trajectory.
For more information, please visit KWESST Micro Systems Inc.
KWESST Micro Systems announced the closing of the first tranche of a private placement, raising CAD$3.5 million (US$2.5 million) from accredited and institutional investors. The company issued 903,700 common shares and 2,884,179 pre-funded warrants at CAD$0.928 per share/warrant.
Each share/warrant was bundled with a common warrant exercisable at CAD$1.16 for 60 months. ThinkEquity, acting as sole placement agent, received a 7.5% cash fee (CAD$263,636) and 189,394 placement agent warrants. Due to investor interest, KWESST is increasing the offering with a second tranche of approximately CAD$142,070, expected to close by February 25, 2025.
The net proceeds will be used for general working capital purposes. The securities have not been registered under the U.S. Securities Act and are subject to TSX Venture Exchange approval.
KWESST Micro Systems Inc. (NASDAQ: KWE) has announced a CAD$3.5 million private placement (approximately US$2.5 million) through definitive securities purchase agreements with accredited and institutional investors. The company will issue 3,787,879 common shares and/or pre-funded warrants at CAD$0.928 per share.
Each share or pre-funded warrant comes bundled with a common warrant, exercisable at CAD$1.16 per share for 60 months after closing. ThinkEquity, acting as sole placement agent, will receive a 7.5% cash fee and warrants to purchase 5% of the pre-funded warrants sold. The proceeds will be used for general working capital purposes.
The offering remains subject to TSX Venture Exchange approval and has not been registered under the U.S. Securities Act.
KWESST Micro Systems reported strong Q1 2025 financial results, with revenue increasing by 588% compared to Q1 2024. The company achieved a gross profit of $0.4 million with a 45.6% margin, compared to a loss in the previous year. Growth was driven by government contracts (DSEF & Land C4ISR), a Lightning SaaS pilot with Canadian Red Cross, and ARWEN business expansion.
The company completed a public offering raising $4.9 million and secured a $250,000 receivables facility. KWESST implemented a 10:1 share consolidation to maintain Nasdaq compliance and has until May 12, 2025, to meet the minimum bid requirement. The company also announced volume production of ARWEN cartridges, including new 40mm baton rounds.
KWESST Micro Systems (NASDAQ: KWE) has announced key management changes effective February 3, 2025. Jennifer Welsh has been appointed as Chief Financial Officer and Chief Compliance Officer, replacing interim CFO Kris Denis. Welsh brings 20 years of experience, including 18 years with Canadian public companies, most recently serving as VP Finance at SNDL Inc. At Indiva , she helped grow the company to over CAD $35 million in net annual revenue.
Additionally, James Yersh has been appointed as a director and Chair of the Audit Committee. Yersh has over two decades of senior executive experience in technology companies, currently serving as Chief Revenue Officer, Senior Care at PointClickCare. His previous roles include CFO positions at notable companies like Mitel, Blackberry, and KORE Wireless.
KWESST Micro Systems reported its fiscal 2024 financial results, showing a 22% revenue increase over fiscal 2023. Key highlights include:
- Gross profits of $0.5 million (32.3% margin) compared to -$0.2 million (-15.5% margin) in 2023
- Net loss reduced by $1.9 million to $7.4 million
- EBITDA loss decreased 20% to $6.0 million
- Revenue growth driven by DSEF and Land C4ISR government contracts
The company expects revenue to increase with the commercial launch of KWESST Lightning™ in 2025, along with anticipated demand for new ARWEN 40mm ammunition and PARA OPS products. Operating expenses decreased by $1.6 million (14%) compared to 2023, reflecting cost management efforts and strategic investments in key growth areas.
KWESST Micro Systems (NASDAQ: KWE) has issued a statement in response to recent unusual market activity. The company, following a request from CIRO, confirmed that its management is unaware of any material change in operations that could explain the recent increase in market activity. The statement was released on December 17, 2024, addressing both NASDAQ and TSXV trading activity.
KWESST Micro Systems has received a 180-day extension from Nasdaq until May 12, 2025, to regain compliance with the minimum $1 bid price requirement. The company failed to meet this requirement during the initial compliance period ending November 12, 2024. To maintain listing, KWESST must achieve a closing bid price of $1 or above for at least 10 consecutive trading days. The company may implement a reverse share split if necessary. Currently, trading continues normally on both Nasdaq Capital Market and TSX Venture Exchange.
KWESST Micro Systems has closed a private placement offering, raising CAD$3.4 million (US$2.5 million) from an institutional accredited investor. The company issued 4,145,200 pre-funded warrants at CAD$0.824 per warrant, each bundled with a common share purchase warrant exercisable at CAD$1.03 for 60 months. The proceeds will be used for general working capital. ThinkEquity acted as placement agent, receiving an 8% cash fee and 5% warrant compensation. Additionally, KWESST addressed its Nasdaq compliance status regarding the minimum US$1.00 bid price requirement, with a deadline of November 12, 2024, and potential eligibility for a 180-day extension.
KWESST Micro Systems announces plans to issue 119,047 common shares at $0.84 per share, representing a 20% discount from the TSXV closing price, to settle $100,000 in business expenses. The debt settlement primarily involves Executive Chairman David Luxton's company, which will receive 95,238 shares. This transaction qualifies as a 'related party transaction' under MI 61-101, though KWESST is utilizing exemptions from formal valuation and minority shareholder approval requirements. The board unanimously approved the settlement, excluding Luxton, viewing it as beneficial for preserving cash position. The issued shares will be subject to a four-month hold period.
KWESST Micro Systems announced the closing of its public offering of 3,889,000 common shares at US$0.90 per share, raising gross proceeds of approximately US$3.5 million. The offering included pre-funded warrants and placement agent fees of US$262,508. The company issued 194,450 common share purchase warrants to the placement agent with an exercise price of US$1.125 per share. Half of the net proceeds will fund product development for BLDS, KWESST Lightning™, ARWEN, and PARA OPS™, while the remaining half will support working capital and general corporate purposes.
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