DEFSEC Technologies to add 15 roles, expects CAD$8.3M in billings

DEFSEC Technologies Inc. (NASDAQ: DFSC) announced it will add 15 roles to its government services business, bringing total staffing to 39 roles beginning February 2026. The company expects this expansion to increase annualized program billings to approximately CAD$8.3 million.

The additional roles represent a 62.5% increase from the 24 roles previously announced in October 2025. DEFSEC will subcontract 13 of the 15 new positions from ADGA Group Consultants Inc. to fulfill expanded work scope under the Directorate Land Command Systems Program Management Software Engineering Facility contract for Canadian Armed Forces digital modernization.

The company reported the new staffing level would result in approximately 704% higher annualized program billings compared to fiscal 2024 billings of CAD$1 million. DEFSEC also expects annualized gross margin contribution from government services to reach approximately CAD$2.3 million, representing an 845% increase over fiscal 2024 gross margin of CAD$0.2 million.

Work commencement in February 2026 remains subject to administrative onboarding procedures. DEFSEC stated it has received the statement of work from DSEF and expects to complete onboarding over the coming weeks.

"The announcement today means that DEFSEC's annualized go-forward revenue run rate of approximately $8.3M at the beginning in February 2026 are expected to be approximately 704% higher than our actual Fiscal 2024 programmatic revenue of $1.0M," said Sean Homuth, DEFSEC President and CEO.

The updated revenue projections exclude DEFSEC's product business, including ARWEN sales, which the company projects will increase significantly in fiscal 2025. DEFSEC develops tactical systems for military and security forces and is headquartered in Ottawa, Canada.

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