Underwater systems and technological solutions
DSIT ended 2025 with much stronger scale and a larger backlog, but the real economic test is still whether it can turn contract assets and delayed collections into cash without losing margin or being pushed into interim financing.
In 2025 DSIT effectively split its internal economics between a scale engine and a profit engine: underwater systems now hold most of revenue and backlog, but RT still carries earnings quality and most of segment operating profit.
DSIT did not burn cash because demand weakened, but because execution and revenue recognition ran far ahead of invoicing and collections, leaving 2025 with a low cash balance and a funding gap that can easily spill into 2026.
