T3 Defense Inc. (NASDAQ:DFNS) shares dropped 3.29% to $0.60 in pre-market trading on Thursday.

The decline followed an over 11% surge in after-hours trading on Wednesday after the defense holding company reported preliminary first-quarter 2026 revenue of about $4.2 million and reaffirmed its full-year outlook.

It also disclosed a $12.1 million backlog and $12.0 million in incoming requests for proposals. The company said the pipeline is driven by escalating global defense spending and heightened geopolitical tension.

Iron Dome Supplier Anchors Growth

T3 Defense stated that the company's wholly owned subsidiary, B. Rimon, a manufacturer and distributor of Iron Dome missile defense components, secured about $4.1 million in new multi-year contracts during the first quarter, with a backlog of $4.8 million.

Full first-quarter results are expected on May 14.

Defense Demand At Record Highs

CEO Menny Shalom said “demand across the defense sector has never been stronger,” citing escalating global geopolitical tensions as a key driver.

The company reaffirmed its full-year 2026 revenue guidance of $26 million, reflecting an expanding contract base, increasing production cadence, and deepening engagement with defense agencies and prime contractors across both the U.S. and Israel.

Trading Metrics, Technical Analysis

T3 Defense has a market capitalization of $23.57 million, with a 52-week high of $2.68 and a 52-week low of $0.43.

The Relative Strength Index (RSI) of DFNS stands at 29.27.

The small-cap stock has dropped 95.08% over the past 12 months.

Currently, the stock is positioned near the lower end of its 52-week range.

Price Action: DFNS closed the regular session at $0.62, up 6.52%, according to Benzinga Pro.

Benzinga's Edge Stock Rankings indicate DFNS stock has a negative price trend across all time frames.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.