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.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of KWESST Micro Systems's position in the market.
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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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End-of-Day
-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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-3.97%
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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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7.44%
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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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1.5%
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KWESST Micro Systems Inc. (TSXV: KWE) (NASDAQ: KWE) announces the availability of its non-lethal PARA OPS and ARWEN products for law enforcement agencies to purchase online. The company plans to scale its businesses and facilitate easier orders for law enforcement customers. Live-fire demonstrations of the products will be featured at the 2024 SHOT Show in Las Vegas, January 23-26. KWESST also intends to introduce its new ARWEN 40mm cartridge at the SHOT Show in response to substantial interest from law enforcement agencies.
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2.04%
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KWESST Micro Systems Inc. (TSXV: KWE) (NASDAQ: KWE) announced the appointment of General (Retired) Rick Hillier as the Chair of the Strategic Planning Committee of the Board. General Hillier's extensive military background and international advisory experience are expected to contribute significantly to KWESST's pursuit of defense programs and public safety offerings, positioning the company for substantial growth.
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-3.85%
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KWESST Micro Systems Inc. (KWE) appoints Sean Homuth as President and CEO, replacing Jeff MacLeod. Kris Denis, CPA, Corporate Controller, becomes Chief Compliance Officer and Interim CFO. The company emphasizes Homuth's skills and experience in finance, capital markets, and corporate development, ensuring continuity and momentum in Defense and Public Safety business units.
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End-of-Day
-1.87%
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KWESST Micro Systems Inc.
Nasdaq:KWE
KWE Rankings
KWE Stock Data
2.31M
5.04M
3.04%
25.81%
1.46%
Small Arms Ammunition Manufacturing
Manufacturing
United States of America
Ottawa