Filing Flows › Industrials › T3 Defense (DFNS)
T3 Defense (DFNS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 18, 2026 · T3 Defense (DFNS) Q2 2026 earnings results →
Q2 2026 operating margin -84.5%
T3 Defense made $4.0M in Q2 2026. Operating margin -84.5%, net loss $81.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 18, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $4.0M in Q2 2026, up 9% from the previous quarter.
Gross margin was 25.4%. Operating costs exceeded revenue by $3.4M, an operating margin of -84.5%. The quarter ended with a net loss of $81.4M, wider than the previous quarter's $26.4M loss. Net interest and other expense of $78.2M was the main reason.
Operating cash flow was −$4.9M. Non-cash charges added back $416K of depreciation. Working capital and other items added $76.2M. Capital expenditures of $26K exceeded it, leaving free cash flow of −$4.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 18, 2026 | $4.0M | — | -84.5% | −$81.4M | −$4.9M |
| Q1 2026 | 10-Q | May 20, 2026 | $3.7M | — | -104.3% | −$26.4M | −$4.9M |
| Q3 2024 | 10-K | Feb 10, 2025 | $236K | -95% | -503.5% | $4.5M | −$1.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About T3 Defense
T3 Defense Inc. (formerly known as Nukkleus Inc.) (the “Company” or “T3”) was formed on May 24, 2019 under the name Brilliant Acquisition Corporation for the purpose of engaging in a business combination. On June 23, 2023, Brilliant Acquisition Corporation, a British Virgin Islands company (prior to the Merger “Brilliant”, and following the Merger, a Delaware corporation “Nukkleus”), entered into an Amended and Restated Agreement and Plan of Merger (as amended by the First Amendment to the Amended and Restated Agreement and Plan of Merger on November 1, 2023, the “Merger Agreement”), by and among Brilliant BRIL Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Brilliant (“Merger Sub”), and Nukkleus Inc., a Delaware corporation (“Old Nukk”).
In its own words, from its 10-K, filed Apr 9, 2026.
T3 Defense against its Services-Management Consulting Services peers
The largest companies of the same SEC industry, each at its latest quarter. Operating margin: -84.5% against the peers' median 8.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| DFNS T3 Defense | Q2 2026 | $4.0M | — | -84.5% |
| BAH Booz Allen Hamilton Holding | Q2 FY27 | $2.8B | -4% | 8.8% |
| G Genpact | Q3 2026 | $1.4B | +7% | 15.2% |
| ASTH Astrana Health | Q3 2026 | $1.0B | +7% | 3.9% |
| FCN FTI Consulting | Q3 2026 | $1.0B | +6% | 8.9% |
| HURN Huron Consulting Group | Q3 2026 | $491M | +11% | 12.0% |
| ICFI ICF International | Q3 2026 | $470M | +1% | 9.3% |
| ONT Onterris | Q3 2026 | $203M | -10% | 6.0% |
| EXPO Exponent | Q3 2026 | $174M | +18% | 24.1% |
Source: T3 Defense 10-Q on SEC EDGAR · CIK 1787518 · Services-Management Consulting Services
More on DFNS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q3 2024 results