Tessera Defense and Homeland Security Inc. (the “Company”)
is furnishing this Current Report on Form 8-K in connection with the disclosure of information regarding the Company’s release relating
to its 2027 revenue targets and 2028-2029 long-term targets. A copy of the release is attached as Exhibit 99.1.
The revenue targets are based on management’s current expectations
and assume continued demand for the Company’s platform and technologies, execution of anticipated customer projects, conversion of a portion
of identified commercial opportunities into signed business, expansion within existing customers, growth through integrators and channel
relationships, successful integration and commercialization of additional technologies and general market conditions.
The information furnished in this Item 7.01 of this Current Report
on Form 8-K (including Exhibit 99.1 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing of the Company under the Securities Act
of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Exhibit
99.1
Tessera
Sets 2027 Revenue Target of $14–16 Million and Outlines Path to Approximately $30 Million by 2029
Management
believes that $14-$16 million of the 2027 revenue target will be supported by backlog, signed contracts or purchase orders, existing
customer expansion, new customer, and additional commercial opportunities
Netanya,
Israel, September 29, 2026 - Tessera Defense and Homeland Security Inc. (NYSE American: HLSQ) (“Tessera”) (“the
Company”) today announced its initial 2027 revenue target and longer-term financial targets through 2029, outlining a growth strategy
centred on scaling the Tessera physical security platform across larger projects, additional customers, new markets and expanded capabilities.
The
Company is targeting consolidated revenue of approximately $14 million to $16 million in 2027.
Tessera
currently expects 2027 revenue to be weighted toward the second half of the year, reflecting the anticipated timing of platform
deployments, customer projects’ cycles and commercial activity. Management believes the potential revenue targets will be comprised
of the following: $7 million from backlog, signed contracts or purchase orders; $5 million from existing-customer expansion
and identified commercial opportunities; $3 million from new customers and future commercial opportunities.
Using
the midpoint of the Company’s 2027 revenue target, the 2029 target represents an implied revenue CAGR of approximately 40% from 2027
through 2029.
Looking
beyond 2027, management is targeting consolidated revenue of approximately:
The
targets reflect management’s current strategic plan, which combines organic growth from Tessera’s existing businesses, expansion of the
Tessera platform and anticipated contributions from future acquisitions. None of these milestone targets include companies with which
Tessera has an unexercised option to acquire.
From
Sight to Foresight
At
the center of Tessera’s growth strategy is its integrated, site-tailored physical security platform.
The
Tessera platform brings together detection, intelligence and response capabilities, connecting cameras, sensors, detection technologies,
AI, software and other security infrastructure into a unified system designed around the requirements of each customer site.
Today, the platform incorporates technologies
from Tessera’s Zorronet and DFSL subsidiaries, as well as licensed third-party technologies, combining complementary detection and
intelligence capabilities within the Tessera physical security platform. Tessera intends to continue expanding the platform by integrating
additional technologies developed internally or added through future acquisitions, joint ventures and licensing agreements.
Management
believes this platform model creates multiple avenues for growth.
Tessera
plans to increase the number of platform deployments, expand the size and scope of individual projects, add capabilities at existing
customer sites, enter new verticals and geographies, and extend its reach through integrators and channel partners.
As
the installed base grows, the Company also sees an opportunity to expand software, licensing, service and support revenue associated
with the platform.
Building
More Value Into Each Deployment
Tessera’s
growth strategy is designed to move beyond selling individual technologies.
By
combining multiple capabilities within a single platform, Tessera can address a broader portion of a customer’s physical security requirements
and pursue larger, higher-value projects.
The
Company expects growth to be supported by several key drivers:
| ● | More
platform deployments: expanding adoption across critical infrastructure, energy, digital
infrastructure and homeland security applications. |
| ● | Larger
projects: incorporating a broader mix of Tessera technologies and capabilities into individual
deployments. |
| ● | Expansion
within existing customers: extending the platform to additional sites, systems and use
cases. |
| ● | New
markets: entering additional verticals and geographies where the platform can be tailored
to local security requirements. |
| ● | Broader
distribution: expanding relationships with integrators, channel partners and strategic
partners capable of bringing Tessera into larger projects. |
| ● | Recurring
revenue opportunities: increasing software, licensing, service and support revenue as
the platform’s installed base grows. |
| ● | Additional
capabilities: integrating complementary technologies through internal development and
selective acquisitions. |
| ● | B2B2C:
increasing cooperation with existing clients who operate command and control centers to protect
private and personal property. |
2027
Priorities
Tessera’s
2027 priorities are focused on translating the platform strategy into measurable commercial growth.
The
Company intends to:
Scale
platform sales
Increase
adoption of the Tessera platform across new and existing customers, with a focus on larger and more complex sites.
Grow
the value of each customer relationship
Add
technologies, capabilities, sites and applications within existing deployments.
Expand
commercial reach
Increase
Tessera’s presence across priority verticals and geographies, including primarily the EU and USA through direct sales, integrators, channel
partners and strategic relationships.
Build
recurring revenue
Expand
software, licensing, service and support opportunities associated with the growing Tessera platform base.
Continue
expanding the platform
Integrate
additional complementary capabilities that broaden the range of physical security requirements Tessera can address.
Increase
resources for potential acquisitions
To the extent the Company decides to exercise
acquisition options, deployment of financial resources towards such acquisitions, including available financing.
Key
Milestones
Management
expects to evaluate progress against its 2027 plan using a combination of financial and commercial indicators, including:
| ● | 70
Tessera platform deployments/customer sites |
| | | |
| ● | 15
expansion projects with existing customers |
| | | |
| ● | Entry
into 3 new geographies |
| | | |
| ● | Expansion
into 2 new verticals |
| | | |
| ● | 16
new or expanded integrator and channel relationships |
| | | |
| ● | Integration
of 5 additional platform capabilities |
| | | |
| ● | Approximately
$7-8 million, or 50% of revenue, from recurring software, licensing, service and support |
| | | |
| ● | Approximately
$14 million in backlog by year-end 2027 |
The
Company may refine these indicators as its commercial model, reporting systems and platform deployment base develop.
Assumptions
Underlying the Targets
Tessera’s
2027 revenue target and 2028–2029 long-term targets are based on management’s current expectations and assume continued demand
for the Company’s platform and technologies, execution of anticipated customer projects, conversion of a portion of identified commercial
opportunities into signed business, expansion within existing customers, growth through integrators and channel relationships, successful
integration and commercialization of additional technologies and general market conditions.
The
targets also assume contributions from future acquisitions consistent with management’s current strategic plan. The timing, size, completion
and financial contribution of any future acquisition cannot be assured.
Customer
procurement, installation and acceptance schedules, project timing, revenue recognition, market conditions and other factors may affect
the timing and amount of revenue ultimately recognized.
The
Company’s targets are forward-looking and do not represent guarantees of future performance. Actual results may differ materially due
to project timing, customer procurement decisions, the timing and completion of acquisitions, integration execution, revenue recognition,
competitive conditions and other risks described in the Company’s filings with the Securities and Exchange Commission.
About
Tessera Defense and Homeland Security Inc. (Formerly BiomX Inc.)
Tessera
Defense and Homeland Security Inc. (NYSE American: HLSQ) is a physical security technology company providing integrated, security solutions
that connect detection, intelligence and response across complex security environments. The Tessera platform integrates cameras, sensors,
detection technologies, AI and other security infrastructure to identify threats, understand events and coordinate response in real time.
Tessera provides the technology, hardware and implementation expertise needed to tailor security solutions to the specific requirements
of each site, helping customers deploy and optimize integrated security systems across critical infrastructure, energy, digital infrastructure
and homeland security applications.
Forward
Looking Statements
This
press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements may be identified by words such as “expects,” “intends,” “plans,” “believes,”
“targets,” “will,” “may,” “anticipates,” “estimates,” “potential,”
“projects,” and similar expressions. These forward-looking statements include, among other things, statements regarding the
Company’s 2027 revenue target and 2028 and 2029 long-term revenue targets; the expected timing and weighting of revenue during
2027; the Company’s expectations regarding future platform deployments, project size and scope, expansion within existing customers,
entry into new verticals and geographies, integrator and channel relationships, recurring software, licensing, service and support revenue,
and the addition and integration of complementary technologies; the Company’s expectations regarding backlog, pipeline, commercial
opportunities and their potential conversion into contracts or revenue; and the Company’s expectations regarding future acquisitions
and their potential contribution to the Company’s growth and financial results.
These
statements are based on the Company’s current expectations, assumptions and strategic plans and are subject to a number of risks
and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those
expressed or implied. The Company’s revenue targets are not guarantees of future performance, and there can be no assurance that
the Company will achieve such targets within the periods indicated or at all.
These
risks and uncertainties include, among others: the risk that the Company may not achieve its 2027 revenue target or its 2028 and 2029
long-term revenue targets; the risk that anticipated customer projects, platform deployments, contracts, purchase orders or other commercial
opportunities may be delayed, reduced, cancelled or not materialize; the risk that backlog, pipeline, proposals, framework agreements
and other identified commercial opportunities may not convert into revenue in the amounts or within the time periods anticipated, or
at all; the risk that the timing of customer procurement, installation, integration, acceptance and revenue recognition may differ from
the Company’s expectations, including the expectation that 2027 revenue will be weighted toward the second half of the year; the
Company’s ability to increase the number, size and scope of Tessera platform deployments and expand within existing customer relationships;
the Company’s ability to enter new verticals and geographies and develop or expand integrator, channel and strategic relationships;
the Company’s ability to generate and grow recurring software, licensing, service and support revenue; the ability of the Tessera
platform and the technologies incorporated into it to perform as designed and integrate successfully with customer infrastructure and
with one another; the Company’s ability to successfully develop, integrate and commercialize additional technologies; the Company’s
ability to identify, negotiate, finance, complete and integrate future acquisitions on acceptable terms or at all, and the risk that
any completed acquisitions may not contribute revenue or other benefits in the amounts or within the time periods anticipated; the fact
that the Company’s long-term revenue targets assume contributions from future acquisitions that have not yet been completed and
may not occur; changes in customer demand, competitive conditions, government or private-sector spending, procurement processes, regulatory
requirements, geopolitical conditions, supply-chain conditions or other market factors; the Company’s ability to comply with applicable
privacy, data protection, security and other regulatory requirements; the Company’s ability to raise additional capital and execute
its business and strategic initiatives; the Company’s going concern qualification; the risk that the Company may not regain compliance
with the NYSE American continued listing standards within the plan period or at all; the risk that the Company may not make progress
consistent with its compliance plan; the possibility that the Company’s common stock may be suspended from trading or delisted
from the NYSE American; and the other risks described in the Company’s filings with the Securities and Exchange Commission, including
under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,
2025, filed with the SEC on February 19, 2026, as supplemented by the Form 10-K/A filed with the SEC on April 30, 2026, the Company’s
current report on Form 8-K filed on May 5, 2026, and in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March
31, 2026 and June 30, 2026, filed with the SEC on May 20, 2026 and August 19, 2026, respectively, as well as the Company’s other
filings with the SEC.
The
Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events
or otherwise, except as required by law.
Contact
Yair
Ohayon, IR & Communications Manager
Yairo@thlsq.ai
