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Liberty Defense Holdings
(SCAN)
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Rating:42Neutral
Price Target:
C$4.00
▼(-12.66% Downside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by weak financial performance—negative gross profit, large ongoing losses, heavy cash burn, and negative equity—indicating elevated funding and execution risk. Technicals also weigh on the score as the stock trades below all major moving averages, consistent with a downtrend. Valuation contributes only modestly because the negative P/E is not informative under losses and there is no dividend yield support.
Positive Factors
Product Strength / Market Fit
HEXWAVE targets high-throughput security screening (stadiums, venues, public safety), a structural market with persistent demand for faster, non-intrusive threat detection. A differentiated hardware solution focused on throughput supports durable commercial opportunities when deployed at scale.
Negative Factors
Negative Gross Profit & Revenue Trend
Negative gross profit and declining revenue indicate the core product isn't yet scaling profitably; structural unit economics are currently unfavorable. Persistent negative gross margins imply pricing, cost of goods, or low utilization that threaten sustainable profitability absent business model changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Product Strength / Market Fit
HEXWAVE targets high-throughput security screening (stadiums, venues, public safety), a structural market with persistent demand for faster, non-intrusive threat detection. A differentiated hardware solution focused on throughput supports durable commercial opportunities when deployed at scale.
Read all positive factors
Liberty Defense Holdings (SCAN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$24.78M
Dividend YieldN/A
Average Volume (3M)1.37M
Price to Earnings (P/E)―
Beta (1Y)-0.07
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees27
SectorIndustrials
Sector Strength72
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)-8.51
Shares Outstanding5,657,941
10 Day Avg. Volume714,923
30 Day Avg. Volume1,373,594
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-3.49
Price to Sales (P/S)5.79
P/FCF Ratio-0.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Liberty Defense Holdings Business Overview & Revenue Model
Company Description
Liberty Defense Holdings, Ltd., operating through its subsidiary Liberty Defense Technologies Inc., specializes in the creation and market introduction of advanced active 3D imaging technology. This cutting-edge system is specifically tailored for...
How the Company Makes Money
Liberty Defense primarily makes money by commercializing its threat-detection products—most notably the HEXWAVE screening system—through sales and deployment arrangements with customers that need high-throughput security screening. Revenue is gene...
Liberty Defense Holdings Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.52M | 2.44M | 1.49M | 0.00 | 0.00 |
| Gross Profit | -3.11M | -1.68M | -1.22M | -1.09M | -161.07K |
| EBITDA | -12.86M | -6.30M | -8.49M | -11.06M | -9.55M |
| Net Income | -14.38M | -8.85M | -9.37M | -12.16M | -12.39M |
Balance Sheet | |||||
| Total Assets | 6.37M | 7.29M | 5.83M | 6.23M | 6.50M |
| Cash, Cash Equivalents and Short-Term Investments | 318.71K | 1.15M | 963.00 | 677.47K | 1.34M |
| Total Debt | 3.93M | 3.72M | 1.45M | 667.12K | 802.94K |
| Total Liabilities | 8.90M | 8.05M | 6.60M | 2.14M | 1.56M |
| Stockholders Equity | -2.53M | -764.48K | -764.46K | 4.09M | 4.94M |
Cash Flow | |||||
| Free Cash Flow | -11.64M | -6.59M | -5.76M | -9.78M | -7.49M |
| Operating Cash Flow | -11.55M | -6.47M | -5.54M | -8.86M | -7.21M |
| Investing Cash Flow | -88.64K | -121.22K | -221.09K | -925.48K | -571.83K |
| Financing Cash Flow | 10.55M | 7.78M | 5.07M | 9.30M | 9.27M |
Liberty Defense Holdings Technical Analysis
Negative
4.58
Price Trends
5.37
Negative
6.00
Negative
8.22
Negative
Market Momentum
-0.33
Positive
31.20
Neutral
9.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SCAN, the sentiment is Negative. The current price of 4.58 is below the 20-day moving average (MA) of 4.66, below the 50-day MA of 5.37, and below the 200-day MA of 8.22, indicating a bearish trend. The MACD of -0.33 indicates Positive momentum. The RSI at 31.20 is Neutral, neither overbought nor oversold. The STOCH value of 9.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SCAN.
Liberty Defense Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | C$179.66M | -127.78 | -3.14% | ― | 23.49% | 51.27% | |
43 Neutral | C$216.20M | -4.28 | -29.13% | ― | 25.32% | 68.42% | |
42 Neutral | C$24.78M | -0.37 | 514.89% | ― | ― | ― | |
42 Neutral | C$5.23M | -0.22 | -142.44% | ― | 104.47% | 90.11% |
* Industrials Sector Average
TSE:SCAN
Liberty Defense Holdings
4.20
-8.85
-67.81%
TSE:GSI
Gatekeeper Systems
1.69
0.34
25.19%
TSE:TMS.H
Targeted Microwave Solutions
0.01
0.00
0.00%
TSE:QESS
Aegis Critical Energy Defence
0.35
0.22
169.23%
TSE:DPRO
Draganfly
6.20
-0.75
-10.79%
TSE:DFSC
DEFSEC Technologies
1.75
-4.15
-70.34%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.