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LONDON - Defence Holdings PLC (ALRT) reported an unaudited net loss of £1.25 million for the 15-month period ending December 31, 2024, a significant improvement from the £4.50 million loss recorded in the previous fiscal year, according to an interim results statement released Monday.
The company, which previously operated as Guild Esports (LON:ALRT) PLC, completed a strategic pivot away from esports in October 2024 when it sold all related operations to DCB Sports LLC for £100,000, removing over £2 million in liabilities from its balance sheet.
Revenue declined to £4.33 million from £5.53 million in the prior period, reflecting reduced sponsorship and esports-related income following the business disposal. Despite lower revenue, the company’s operating loss narrowed to £2.90 million from £4.25 million, aided by cost-cutting measures and a £942,000 gain on asset sales.
Total (EPA:TTEF) assets fell sharply from £5.55 million to £121,000 due to asset disposals and lease terminations, while liabilities dropped from £5.78 million to £741,000. Cash reserves declined to £15,000 from £459,000 by period end.
In May 2025, the company rebranded as Defence Holdings PLC and raised £3.45 million through an oversubscribed placing and subscription at 0.325 pence per share. Board members contributed £350,000 to the fundraising.
The company’s new strategy focuses on four technology areas: drone warfare and aggregation, AI agents for defence operations, information and influence warfare, and critical infrastructure defence. This strategic shift aims to position Defence Holdings as a technology provider in the defence sector.
"We are no longer a repositioning story—we are a growth platform with a national security mandate, focused on delivering results," the company stated in its press release.
The interim results were unaudited and cover the 15-month period following the company’s previously reported audited results for the year ended September 30, 2023.
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