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 …