UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.001 RCAT The Nasdaq Stock Market LLC FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ___ ...

SAN JUAN, Puerto Rico, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat" or "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, reports its financial results for the fiscal first quarter ended July 31, 2024 and provides a corporate update. Recent Operational Highlights: Presented drone solutions to high-level officials, at multiple Defense Conferences, including the U.S Marine Corps (Modern Da ...

Financial Data and Key Metrics Changes - For fiscal year 2024, revenue increased by 286% to a record $17.8 million compared to $4.6 million in fiscal year 2023 [4][12] - Fourth quarter revenue rose to $6.4 million, representing over a 100% increase from the same period last year [4][12] - Gross profit for fiscal 2024 totaled $3.7 million, approximately 21% of total revenues, compared to negative 18% in fiscal 2023 [12] - Adjusted operating expenses decreased from $18.1 million in fiscal 2023 to $17.5 million in fiscal 2024, a reduction of approximately 3% [12][13] - Cash used in operations for Q4 of fiscal 2024 was $2.3 million, a decrease of 43% sequentially and 69% compared to the same quarter in the prior fiscal year [14] Business Line Data and Key Metrics Changes - The product portfolio expanded from one drone to three drones, completing the Family of Systems strategy [5] - The Teal 2 drone was highlighted as a significant contributor to record revenues [11] Market Data and Key Metrics Changes - Global demand for small, portable autonomous systems surged, prompting the company to invest in manufacturing capacity [5] - The Replicator Initiative by the U.S. Department of Defense aims to deploy thousands of autonomous systems, with significant funding expected for drone manufacturers [9] Company Strategy and Development Direction - The Family of Systems strategy focuses on low-cost, portable, field-repairable ISR and precision strike systems, marking a shift in the drone industry [5] - Recent acquisitions, such as FlightWave, are expected to enhance the company's capabilities in ISR and mapping [6] - The company is preparing for large-scale production of the Teal 3 drone and aims to meet increasing demand [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued revenue growth and improved profit margins in the upcoming year [14] - The company is well-positioned for potential contracts in both U.S. and NATO programs of record, with significant revenue opportunities anticipated [10][11] Other Important Information - The company secured $4.4 million in non-dilutive financing through the divestiture of an investment, enhancing its financial position [13] - The company is in the final stages of selection for the U.S. Army's Short Range Reconnaissance program, with potential contracts worth hundreds of millions [10][11] Q&A Session Summary Question: Does the $10 million in cash and receivables include the $4.4 million from UMAC? - Yes, the $10.4 million in cash and accounts receivables was the balance as of April 30, and the $4.4 million is in addition to that [18][19] Question: Can you provide the magnitude of NATO programs of record compared to the U.S. Army's? - One NATO program is for 25,000 systems, which is significantly larger than the U.S. Army's SRR program of about 6,000 systems [20] Question: Is there demand for the FlightWave Edge 130 system? - There has been a great response since the announcement, indicating strong demand for the Edge 130 [21] Question: Is production capacity back up and running? - Yes, production is back up, and the company is hiring to scale production for the Teal 3 drone [24] Question: What is the expected revenue from FlightWave in 2025? - The company projects $10 million to $20 million in revenue from FlightWave in 2025 [27] Question: What is the manufacturing capacity at Salt Lake? - The Salt Lake facility can scale to produce 1,000 drones a month for the Teal 2/Teal 3 [32]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission File Number: 001-40202 Red Cat Holdings, Inc. (Exact name of registrant as specified in its charter) Nevada 88-0490034 (State or othe ...

SAN JUAN, Puerto Rico, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat" or "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, reports its financial results for the fiscal year ended April 30, 2024 and provides a business update Recent Operational Highlights: Certification of Teal 2 as Blue UAS received from U.S. Department of Defense Continued global sales expansion into Middle East and Latin ...

Company management will host an earnings conference call at 6:00p.m. ET on Thursday, August 8, 2024, to review financial results and provide an update on corporate developments. Following management's formal remarks, there will be a question-and-answer session. The conference call will also be available through a live webcast that can be accessed at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=uxH3YdCT About Red Cat Holdings, Inc. Forward Looking Statements INVESTORS: E-mail: Investors@re ...

SAN JUAN, Puerto Rico, July 22, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced that it secured $4.4 million of non-dilutive financing through its divestiture in Unusual Machines. Additional information on the financing will be filed with the U.S. Securities and Exchange Commission. "With military modernization, the defense drone industry is in ...

"With military modernization, the defense drone industry is in a rapid growth and innovation cycle," said Jeff Thompson, Red Cat CEO. "This sea change is driving robust demand for Red Cat's Family of Systems both domestically and internationally. As a result, we've achieved three quarters of record revenue while reducing cash burn during the first three quarters of our year ended April 30, 2024, making this non-dilutive capital highly valuable for our strategic growth plans." Red Cat (Nasdaq: RCAT) is a dro ...

The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30, 2024, ranking them by total market capitalization. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes. Forward-Looking Statements Contacts: NEWS MEDIA: Indicate Me ...

SAN JUAN, Puerto Rico, June 24, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc.(Nasdaq: RCAT) ("Red Cat"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced that it is set to join the Russell Microcap® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective following the closing of US equity markets on Friday, June 28, 2024, according to a preliminary list of additions posted Friday, May 2 ...