RCAT
Red Cat Holdings, Inc.7.37
-0.11-1.47%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
879.77MP/E (TTM)
-Basic EPS (TTM)
-0.51Dividend Yield
0%Recent Filings
8-K
Q4 revenue soars 1,842%
Red Cat Holdings announced preliminary unaudited Q4 2025 revenue of $24.0-26.5 million, up 1,842% from $1.3 million in Q4 2024, while full-year revenue hit $38.0-41.0 million, a 153% jump from $15.6 million in 2024. Robust defense demand and scaled production fueled the surge. Results await audit. Pipeline grows.
8-K
CFO to COO promotion
Red Cat Holdings promoted CFO Christian Ericson to COO on December 2, 2025, boosting his salary to $260,000 and granting 25,000 RSUs; Christian Morrison joined as new CFO at $230,000 base with up to 150% bonus potential and 30,150 restricted shares. Ericson now drives operations; Morrison brings public-to-private expertise. Leadership bolsters execution amid growth.
10-Q
Q3 FY2025 results
Red Cat's Q3 revenues surged 646% y/y to $9.6M (derived), fueled by US Army SRR drone deliveries, flipping gross profit positive at 7% versus last year's 30% loss—yet operating expenses tripled on R&D and headcount, driving a $17.5M operating loss. Net loss widened to $16.0M or $(0.16)/diluted share (99.6M shares), versus $12.4M last year, as $12.9M YTD fair-value hits on convertible notes outpaced a $2.4M extinguishment gain. Cash ballooned to $206M on $251M public offerings, crushing prior debt woes; FlightWave closed Sep 2024 for $14M stock, adding $8.7M goodwill. Inventory swelled amid Teal 2-to-Black Widow shift. Supply chain disruptions loom large.
8-K
Offering closes with $172.5M
Red Cat Holdings closed its public offering on September 19, 2025, selling 17,968,750 shares at $9.60 each to Northland-led underwriters, who exercised their full option for extras. Gross proceeds hit $172.5 million for working capital and unmanned surface vessel investments. Lind waived note rights to enable the deal. Cash bolsters expansion, yet dilutes shareholders.
8-K
Auditor switch to KPMG
Red Cat Holdings dismissed its auditor dbbmckennon effective August 28, 2025, and appointed KPMG as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. The switch followed clean audit reports but amid a previously disclosed material weakness in internal controls. No disagreements arose with the prior firm. This change aims to strengthen financial oversight.
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