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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.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect KWESST Micro Systems's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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KWESST Micro Systems Inc. (NASDAQ: KWE) provides an update on their business activities ahead of fiscal Q2 2024 results. The company secured a multi-year military digitization contract with revenue potential up to $48M. They signed an MOU with the University of Ottawa for hiring software coding graduates. KWESST introduced Lightning™ SaaS app to public safety agencies and showcased the T-SAS Tactical Surveillance And Sniper system. The ARWEN non-lethal product line is expanding with new 40mm baton cartridges and distribution agreements with O'Dell Engineering. The company continues to demonstrate and evaluate the PARA OPS non-lethal system with police and security agencies.

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End-of-Day
0.29%
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Rhea-AI Summary
KWESST Micro Systems Inc. announced the closing of a public offering, raising approximately US$1,000,000. The offering included common shares and pre-funded warrants, with net proceeds intended for working capital and business objectives.
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-3.36%
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KWESST Micro Systems Inc. announces the pricing of its underwritten public offering of 1,538,500 common shares at $0.65 per share, generating gross proceeds of approximately $1,000,000. The offering is expected to close soon.
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1.25%
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KWESST Micro Systems Inc. announces a public offering to sell common shares or pre-funded warrants, with ThinkEquity as the book-running manager. The company plans to use the proceeds for working capital and business objectives.
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-28.88%
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KWESST Micro Systems Inc. updates investors on the growth of ARWEN business and military digitization revenue. The reorganization of ARWEN has led to a six-fold increase in customer shipments in Q2. Anticipated Q2 revenue of CAD $226K represents a run rate of approximately CAD $1 million annually, more than double the revenue in fiscal 2023. The company foresees continued growth driven by the introduction of new products and improvements in the supply chain. The military digitization programs, including the DSEF program and a subcontract with a global defense contractor, are expected to yield significant revenue growth. KWESST expects to be under contract with the defense contractor by mid-April, with a maximum workshare of approximately CAD $48 million for the initial 6-year term. The company is focused on executing its strategy of winning and delivering on long-term strategic military programs to ensure revenue stability.
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3.85%
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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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5.53%
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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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2.83%
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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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-3.16%
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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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Rhea-AI Sentiment
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-3.97%
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KWESST Micro Systems Inc.

Nasdaq:KWE

KWE Rankings

KWE Stock Data

5.37M
5.04M
3.04%
25.81%
1.46%
Small Arms Ammunition Manufacturing
Manufacturing
Link
United States of America
Ottawa