Is HLSQ halal?
Tessera Defense and Homeland Se
Doubtful
No clear verdict is possible for Tessera Defense and Homeland Se — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 14 October 2026
Exchange
AMEX
Price
0.2234
Day
-10.28%
Market cap
$2.4M
Industry
Information Technology Services
Sector
Technology
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: pivot to a defense/security holding — counter-drone systems (Tessera, formerly BiomX)
What the company does
Tessera Defense and Homeland Security (formerly the BiomX biotech, rebranded 2026) is a defense/security holding: counter-drone systems, AI command-and-control, border surveillance and aerial firefighting. Its money comes from government contracts (considered by the screener).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: pivot to a defense/security holding — counter-drone systems (Tessera, formerly BiomX)
Interest-bearing debt / market cap
limit 30%
137.1%
Fail
Cash & investments / market cap
limit 30%
23.4%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Information Technology Services — for comparison.
Related articles
- Halal investingBlogThe "doubtful" category: film, music and scholarly disagreementWhy Netflix, Disney and Spotify are not on our halal list — yet not labelled "haram" either. How we handle a disputed question.
- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.