Liberty Defense Holdings (TSE:SCAN)
:SCAN
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Liberty Defense Holdings
(SCAN)
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Rating:41Neutral
Price Target:
C$0.15
▼(-27.14% Downside)
Action:UpgradedDate:01/30/26
The score is primarily weighed down by severe financial weakness (declining revenue, large losses, and negative equity). Technicals are also bearish with the stock trading below major moving averages, though oversold indicators slightly temper the downside. Valuation provides limited support given the negative P/E and lack of dividend yield.
Positive Factors
Proprietary AI/ML screening tech
Liberty Defense's proprietary AI/ML screening systems represent a durable technological moat for high-security environments. AI-enabled threat detection improves effectiveness over time, supports differentiation versus commodity scanners, and underpins long-term licensing and integration opportunities with airports and critical infrastructure.
Negative Factors
Steep revenue decline
A trailing twelve‑month revenue decline of ~31.7% is a structural red flag: shrinking top line reduces scale economics, compromises R&D and sales investments, and makes it harder to cover fixed costs. Persistent revenue erosion undermines long‑term viability without strategic reversal.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary AI/ML screening tech
Liberty Defense's proprietary AI/ML screening systems represent a durable technological moat for high-security environments. AI-enabled threat detection improves effectiveness over time, supports differentiation versus commodity scanners, and underpins long-term licensing and integration opportunities with airports and critical infrastructure.
Read all positive factors
Liberty Defense Holdings (SCAN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$14.19M
Dividend YieldN/A
Average Volume (3M)1.37M
Price to Earnings (P/E)―
Beta (1Y)-0.22
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees27
SectorIndustrials
Sector Strength72
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)-2.80
Shares Outstanding1,984,303
10 Day Avg. Volume714,923
30 Day Avg. Volume1,373,594
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)-131.73
Price to Sales (P/S)41.29
P/FCF Ratio-15.28
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., through its subsidiary, Liberty Defense Technologies Inc., engages in the development and commercialization of an active 3D imaging technology system for the security industry in Canada and the United States. The co...
How the Company Makes Money
Liberty Defense Holdings generates revenue through the sale and licensing of its advanced security technologies and systems. The company's primary revenue streams include direct sales of screening equipment, recurring subscription fees for softwar...
Liberty Defense Holdings Financial Statement Overview
Summary
Income Statement
20
Very Negative
Balance Sheet
15
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.60M | 2.44M | 1.49M | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.77M | -1.68M | -1.22M | 0.00 | 0.00 | 0.00 |
| EBITDA | -11.80M | -6.30M | -8.49M | -11.06M | -9.55M | -687.00K |
| Net Income | -12.89M | -8.85M | -9.37M | -12.16M | -12.39M | -1.05M |
Balance Sheet | ||||||
| Total Assets | 6.92M | 7.29M | 5.83M | 6.23M | 6.50M | 442.58K |
| Cash, Cash Equivalents and Short-Term Investments | 640.91K | 1.15M | 963.00 | 677.47K | 1.34M | 24.04K |
| Total Debt | 4.02M | 3.72M | 1.45M | 667.12K | 802.94K | 2.58M |
| Total Liabilities | 8.27M | 8.05M | 6.60M | 2.14M | 1.56M | 3.00M |
| Stockholders Equity | -1.35M | -764.48K | -764.46K | 4.09M | 4.94M | -2.56M |
Cash Flow | ||||||
| Free Cash Flow | -12.06M | -6.59M | -5.76M | -9.78M | -7.49M | -2.62M |
| Operating Cash Flow | -11.80M | -6.47M | -5.54M | -8.86M | -7.21M | -2.62M |
| Investing Cash Flow | -999.35K | -121.22K | -221.09K | -925.48K | -571.83K | -6.27K |
| Financing Cash Flow | 12.94M | 7.78M | 5.07M | 9.30M | 9.27M | 71.70K |
Liberty Defense Holdings Technical Analysis
Negative
0.21
Price Trends
7.67
Negative
8.98
Negative
10.79
Negative
Market Momentum
-0.09
Positive
43.69
Neutral
2.59
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 0.21 is below the 20-day moving average (MA) of 7.48, below the 50-day MA of 7.67, and below the 200-day MA of 10.79, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 43.69 is Neutral, neither overbought nor oversold. The STOCH value of 2.59 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% | |
46 Neutral | C$276.64M | -6.53 | -48.00% | ― | 26.74% | 53.14% | |
46 Neutral | C$5.48M | -1.05 | -132.31% | ― | 166.43% | 75.12% | |
44 Neutral | C$147.96M | -61.93 | ― | ― | -3.41% | -151.98% | |
41 Neutral | C$14.19M | -1.06 | 1979.16% | ― | ― | ― |
* Industrials Sector Average
TSE:SCAN
Liberty Defense Holdings
7.15
-22.10
-75.55%
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Liberty Defense Holdings Corporate Events
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Liberty Defense Confidentially Files for U.S. IPO to Support Growth and Visibility
Positive
Jan 20, 2026
Liberty Defense Holdings has confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission for a proposed initial public offering of its common shares, targeting a listing on a U.S. stock exchange to levera...
Business Operations and StrategyPrivate Placements and Financing
Liberty Defense Raises C$2.6 Million to Accelerate HEXWAVE Production and Commercial Growth
Positive
Jan 15, 2026
Liberty Defense Holdings has closed the second and final tranche of its non-brokered LIFE private placement, issuing 3,943,207 units at C$0.22 each for approximately C$867,505 in proceeds, bringing total funds raised under the offering to about C$...
Business Operations and StrategyPrivate Placements and Financing
Liberty Defense Raises $1.75 Million to Accelerate HEXWAVE Production
Positive
Dec 31, 2025
Liberty Defense Holdings has closed the first tranche of a non-brokered private placement under the listed issuer financing exemption, raising approximately $1.75 million through the sale of 7,941,671 units at $0.22 each, with each unit comprising...
Private Placements and Financing
Liberty Defense Launches Amended Financing to Raise Up to $3 Million via Unit Offering
Positive
Dec 19, 2025
Liberty Defense Holdings, Ltd. has launched an amended and restated equity financing, offering between 6.82 million and 13.64 million units at $0.22 per unit to raise gross proceeds of approximately $1.5 million to $3 million under a listed issuer...
Business Operations and StrategyPrivate Placements and Financing
Liberty Defense Amends Terms of LIFE Private Placement to Raise Up to C$3 Million
Positive
Dec 19, 2025
Liberty Defense Holdings has amended the terms of its previously announced non-brokered private placement under the listed issuer financing exemption, now aiming to raise between approximately C$1.5 million and C$3 million through the issuance of ...
Business Operations and StrategyProduct-Related Announcements
Liberty Defense Secures TSA Contract for HD-AIT Upgrade
Positive
Dec 15, 2025
Liberty Defense Holdings announced that the TSA has exercised an option under a previous contract to further develop and certify the HD-AIT wideband upgrade kit, which enhances threat detection capabilities using advanced imaging technology. This ...
Business Operations and StrategyPrivate Placements and Financing
Liberty Defense Amends Private Placement Terms to Boost Security Tech Production
Positive
Dec 12, 2025
Liberty Defense Holdings Ltd. announced amended terms for its private placement offering, aiming to raise between $1.5 million and $3 million through the issuance of units comprising common shares and purchase warrants. The proceeds will be used f...
Business Operations and StrategyPrivate Placements and Financing
Liberty Defense Launches Up to $5.2 Million Private Placement to Scale Operations
Positive
Dec 2, 2025
Liberty Defense Holdings Ltd. has announced a non-brokered private placement to raise between C$3.12 million and C$5.2 million through the issuance of up to 20 million units. This financing aims to support the company’s strategic plans and s...
Business Operations and StrategyProduct-Related Announcements
Liberty Defense Supports TSA Modernization Initiative
Positive
Nov 26, 2025
Liberty Defense Holdings has expressed strong support for the Department of Homeland Security’s initiative to modernize the Transportation Security Administration’s infrastructure with a $1 billion investment. This modernization plan h...
Business Operations and StrategyProduct-Related Announcements
Liberty Defense Partners with Noble IQ for HEXWAVE Deployment
Positive
Nov 24, 2025
Liberty Defense Holdings has announced a strategic partnership with Noble IQ to enhance the deployment and support of its HEXWAVE walkthrough screening system across the United States. This collaboration will leverage Noble IQ’s extensive ex...
Business Operations and StrategyProduct-Related Announcements
Liberty Defense to Deploy HEXWAVE Systems at JFK’s New Terminal One
Positive
Nov 19, 2025
Liberty Defense Holdings has announced the deployment of its AI-powered HEXWAVE systems at The New Terminal One at JFK International Airport for aviation worker screening. This initiative marks a significant advancement in threat detection technol...
Business Operations and StrategyProduct-Related Announcements
Liberty Defense Secures Contract for HEXWAVE Screening Systems at U.S. State Capitol
Positive
Nov 17, 2025
Liberty Defense Holdings Ltd. has secured a contract to supply three HEXWAVE walkthrough screening systems to a U.S. State Capitol complex in the Northeast, enhancing security for officials, employees, and visitors at two high-traffic government b...
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.