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KWESST Micro Systems Inc. - KWE STOCK NEWS

Welcome to our dedicated page for KWESST Micro Systems news (Ticker: KWE), a resource for investors and traders seeking the latest updates and insights on KWESST Micro Systems stock.

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.

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KWESST Micro Systems Inc. reports growing traction with law enforcement agencies for PARA OPS and new 40mm ARWEN cartridge. The Company showcases products to over 100 agencies and is invited to LAPD's Less Lethal Expo 2024. KWESST President and CEO, Sean Homuth, highlights interest and positive feedback from progressive U.S. agencies.
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KWESST Micro Systems Inc. secures a contract with the Ontario Provincial Police to provide training and certification for TAK users, enhancing real-time communications and situational awareness. The company's KWESST Lightning™ software aims to revolutionize public safety by offering cloud-based TAK-enabled solutions for first responders and law enforcement agencies.
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KWESST Micro Systems Inc. announces a partnership with O'Dell Engineering Ltd. for the distribution of PARA OPS products in Canada. The agreement includes a focus on the civilian market, sports events, and animal training, with plans for a definitive agreement by March 31st, 2024.
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KWESST Micro Systems Inc. announces fiscal 2024 first-quarter results with a decrease in revenue and gross profit, an increase in operating loss, and total operating expenses. The company focuses on defense contracts and non-lethal munition systems. Adjusted EBITDA loss increased due to decreased revenue and higher operating expenses. Major highlights include product introductions and key appointments.
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KWESST Micro Systems Inc. has been invited to showcase its public safety products at an international gathering of special intervention units, featuring PARA OPS, ARWEN, Lightning, and T-SAS systems. The event will host over 20 specialist teams from 38 countries, highlighting the Company's innovative solutions for crisis response and national security.
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KWESST Micro Systems Inc. reports success at SHOT Show 2024, featuring new 40mm ARWEN cartridge and PARA OPS products with live fire demonstrations. Initial orders from law enforcement agencies and plans to scale up U.S. production for 100% 'Made In America' products. The company is leveraging its established ARWEN riot launcher business as a channel to the law enforcement market, with substantial interest in the new 40mm ARWEN cartridge and PARA OPS non-lethal product line. The Company also introduced Lightning Software as a Service (SaaS) and T-SAS (Tactical Surveillance and Sniper) system at the show, which garnered interest from industry players for potential adaptation to their own products.
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KWESST Micro Systems Inc. has engaged Dave Ibbetson, former General Manager of General Dynamics Mission Systems International, as a Strategic Defence Advisor. With over 30 years of experience in the Aerospace and Defence Industry, including 25 years with General Dynamics, Ibbetson brings valuable expertise to KWESST. His international portfolio of businesses with operations in Canada, UK, Italy, Turkey, and the Middle East will be instrumental in executing KWESST's strategy of winning and delivering on large defence programs.
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KWESST Micro Systems Inc. reports a 71% increase in total revenue for fiscal 2023, driven by digitization and non-lethal business lines. However, operating loss increased by 20% due to higher expenses. The company's net loss decreased by 12% compared to the previous year. KWESST's strategic focus on large defense contracts and commercialization of non-lethal munition systems led to increased operating expenses. The company also filed for a U.S. patent application for its next-generation BLDS technology. Overall, KWESST aims to secure long-term defense contracts while driving sales in the public safety market.
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KWESST Micro Systems Inc. provides a bi-weekly default status update regarding the delay of filing its annual financial statements for the year ended September 30, 2023. The company was granted a voluntary management cease trade order by the Ontario Securities Commission and intends to issue bi-weekly default status reports until the situation is rectified. The audit is substantially complete, and the Required Documents are expected to be filed soon.
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KWESST Micro Systems Inc. (TSXV: KWE) (NASDAQ: KWE) Announces Delay in Filing Annual Financial Statements
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FAQ

What is the current stock price of KWESST Micro Systems (KWE)?

The current stock price of KWESST Micro Systems (KWE) is $0.5504 as of December 24, 2024.

What is the market cap of KWESST Micro Systems (KWE)?

The market cap of KWESST Micro Systems (KWE) is approximately 1.3M.

What does KWESST Micro Systems Inc. specialize in?

KWESST specializes in developing and commercializing next-generation tactical systems for military and security forces, including non-lethal defense products.

Where is KWESST headquartered?

KWESST is headquartered in Ottawa, Canada, with operations in Guelph, Ontario, and Youngsville, North Carolina, USA, and representative offices in London, UK, and Abu Dhabi, UAE.

What are some of KWESST's key products?

KWESST's key products include tactical digitization tools, countermeasures against electronic threats, and the PARA OPS™ non-lethal defense product line.

What recent contracts has KWESST secured?

KWESST has secured a CAD $48 million contract with Thales Canada for C4ISR modernization and a $27 million contract with the Canadian DND for the DSEF program.

How has KWESST's financial performance been recently?

KWESST reported a 200% increase in quarterly revenue compared to the previous year, driven by the ARWEN product line and digitization contracts.

What is the PARA OPS™ product line?

The PARA OPS™ product line is KWESST's proprietary range of non-lethal defense products designed for law enforcement and personal defense markets.

What is KWESST Lightning™?

KWESST Lightning™ is a SaaS application designed to enhance situational awareness for public safety agencies, enabling real-time data sharing among first responders.

Is KWESST publicly traded?

Yes, KWESST is publicly traded on NASDAQ (KWE), TSXV (KWE), and FSE (62UA).

Who are the key contacts at KWESST?

Key contacts at KWESST include Kris Denis (CFO), David Luxton (Executive Chairman), Sean Homuth (President and CEO), and Jason Frame (Investor Relations).

Where can I find more information about KWESST?

More information about KWESST can be found on their official website at https://kwesst.com/.

KWESST Micro Systems Inc.

Nasdaq:KWE

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1.32M
2.38M
0.51%
4.84%
0.61%
Aerospace & Defense
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United States of America
Ottawa