Nukkleus Inc. reported fiscal year 2023 results with total revenue of $21.3 million, slightly down from $21.5 million in 2022. General support services revenue remained stable at $19.2 million, while financial services revenue decreased 9.3% to $2.1 million. The company recorded a net loss of $17.4 million compared to $11.8 million in the previous year, primarily due to impairment charges of $11.9 million.The company's financial services segment showed mixed performance with trading volume increasing 23.3% to $432.1 million, while gross margin improved to -36.6% from -41.6%. Operating expenses decreased in several categories including advertising and marketing (-86.7%) and professional fees (-44.0%), reflecting cost control efforts. However, the company faced challenges with working capital deficit increasing to $6.2 million as of September 30, 2023.Looking ahead, Nukkleus completed a business combination with Brilliant Acquisition Corporation in December 2023. The company is repositioning its focus on digital assets as services under the GSA with TCM have been terminated. Management has implemented measures to address material weaknesses in internal controls and is working to strengthen its financial position through various financing arrangements and operational improvements.

Nukkleus Inc. reported fiscal year 2023 results with total revenue of $21.3 million, slightly down from $21.5 million in 2022. General support services revenue remained stable at $19.2 million, while financial services revenue decreased 9.3% to $2.1 million. The company recorded a net loss of $17.4 million compared to $11.8 million in the previous year, primarily due to impairment charges of $11.9 million.The company's financial services segment showed mixed performance with trading volume increasing 23.3% to $432.1 million, while gross margin improved to -36.6% from -41.6%. Operating expenses decreased in several categories including advertising and marketing (-86.7%) and professional fees (-44.0%), reflecting cost control efforts. However, the company faced challenges with working capital deficit increasing to $6.2 million as of September 30, 2023.Looking ahead, Nukkleus completed a business combination with Brilliant Acquisition Corporation in December 2023. The company is repositioning its focus on digital assets as services under the GSA with TCM have been terminated. Management has implemented measures to address material weaknesses in internal controls and is working to strengthen its financial position through various financing arrangements and operational improvements.