Liberty Defense (SCAN) investor relations material

Market opportunity and industry trends

• Security screening market projected to grow from $11B in 2024 to $22B by 2036, driven by regulatory mandates and rising threats.

• Federal investment, including a $1B TSA modernization plan, is accelerating adoption of advanced screening technologies.

• Demand spans airports, correctional facilities, distribution centers, hospitals, schools, and entertainment venues.

• Non-metallic and 3D-printed weapons are increasing, requiring advanced detection solutions.

Technology and product offerings

• HEXWAVE is a mobile, AI-enabled scanner using millimeter wave technology for real-time, non-invasive threat detection.

• HD-AIT Upgrade Kit modernizes existing airport screening systems, meeting new Homeland Security standards.

• AI and deep learning enable rapid, accurate identification of concealed threats, including non-metallic items.

• Products integrate with existing security infrastructure and offer smart IoT functionality.

Business model and financials

• Revenue streams include hardware sales (HEXWAVE ASP $100,000; HD-AIT Kit $125,000), maintenance, and AI updates.

• Product margins are improving, with further gains expected from volume and value engineering.

• Market cap as of February 2026 is $10.7M, with 89.3M shares outstanding.

• Operating losses continue, but revenue is growing as deployments increase.