Defence Holdings (ALRT) H2 2026 earnings summary

Executive summary

• Completed strategic pivot from esports to defence technology, focusing on AI-enabled software and sovereign digital capabilities.

• Established a binding partnership with Whitespace for co-development of defence software and AI agents.

• Launched three proprietary products to proof-of-concept stage and initiated the Defence Holdings Accelerator.

• Strengthened leadership team with key appointments, including a new CEO and CTO.

• Secured first revenue-generating contract with the UK Ministry of Defence post year-end.

Financial highlights

• No revenue generated during the year ended 31 March 2026 (prior period: £4.33m).

• Operating loss of £4.56m, compared to £2.97m for the 18 months ended 31 March 2025.

• Loss after taxation of £4.33m (prior period: £1.28m).

• Cash and cash equivalents at year-end: £0.89m (prior period: £0.07m).

• Total equity at year-end: £2.73m.

Outlook and guidance

• Focus on disciplined execution to convert strategic relationships and product builds into deployable capabilities.

• Positioned to benefit from increasing demand for rapid, sovereign AI and software solutions in defence.

• Post year-end, raised £4m through a placing and secured first revenue contract, supporting transition to revenue generation.