Welcome to our dedicated page for Red Cat Holdings news (Ticker: RCAT), a resource for investors and traders seeking the latest updates and insights on Red Cat Holdings stock.
Red Cat Holdings, Inc. (RCAT) is a prominent military technology company specializing in secure blockchain-based distributed storage, analytics, and SaaS for the drone industry. The company offers innovative solutions for regulators to monitor flight data, insurance companies to insure drones, and pilots to comply with regulations. Red Cat collaborates with Ocean Power Technologies to enhance ocean surveillance and maritime domain awareness through drone and swarming capabilities across various domains. Teal Drones, a Red Cat subsidiary, develops the Golden Eagle drone with high-resolution imaging for night-time operations, while Skypersonic provides unmanned aircraft for interior spaces and hazardous environments. Red Cat's strategic partnerships include companies like Primordial Labs, Tomahawk Robotics, and Athena AI, enabling cutting-edge autonomy solutions for defense and security missions.
Red Cat Holdings (RCAT) reported its fiscal Q2 2025 results with several significant developments. The company won the U.S. Army's Short Range Reconnaissance Program and formed a strategic partnership with Palantir Technologies to integrate Visual Navigation software into Black Widow drones. Financial highlights include year-to-date revenue of $4.3 million and cash/receivables of $5.7 million, with an additional $6 million financing secured post-quarter.
The company provided guidance of $80-$120 million for calendar year 2025, primarily driven by SRR-related sales. Red Cat halted Teal 2 production to focus on Black Widow drones, prioritizing long-term growth. The company also acquired FlightWave and secured a TACFI contract from the U.S. Air Force.
Red Cat Holdings (NASDAQ: RCAT) announced a strategic partnership with Palantir Technologies (NASDAQ: PLTR) to integrate Visual Navigation software (VNav) into Red Cat's Black Widow drones and implement Palantir's Warp Speed manufacturing OS. The collaboration aims to enhance autonomous drone operations in modern warfare by utilizing AI software that enables navigation without GPS dependency through satellite imagery reference.
The Black Widow, selected for the U.S. Army's Short Range Reconnaissance Program, will integrate Palantir's VNav technology, offering key benefits including satellite imagery integration and A-PNT Navigation. The system operates fully offline using Palantir's Edge Runtime, ensuring operational effectiveness in electronic warfare environments.
The partnership also includes implementing Palantir's Warp Speed in Red Cat's factories to optimize production, streamline supply chain, and improve quality assurance.
Red Cat Holdings (Nasdaq: RCAT), a drone technology company focusing on military, government, and commercial operations, has announced it will release its fiscal second quarter 2025 financial results on Monday, December 16, 2024, after market close. The company will host an earnings conference call at 4:30 p.m. ET the same day, featuring management's formal remarks followed by a Q&A session. The call will be accessible via webcast through a Zoom link.
Red Cat Holdings (Nasdaq: RCAT) announced key leadership changes to align with its growth strategy following the U.S. Army Short Range Reconnaissance Program award. George Matus, Red Cat's CTO and Teal Drones founder, is departing to become CTO at Vector. Chris Rill, current Director of Partner Integration, will become President of Teal Drones subsidiary, bringing extensive hardware and software experience. Additionally, Geoffrey Hitchcock was promoted from General Manager of Teal Drones to Chief Revenue Officer for Red Cat. These changes aim to scale operations, manufacturing, and meet growing customer demands, particularly following the selection of Black Widow drones for the U.S. Army's SRR Program.
Red Cat Holdings (Nasdaq: RCAT) has promoted Geoffrey Hitchcock to Chief Revenue Officer (CRO). Previously serving as General Manager for Teal Drones, Hitchcock was instrumental in building a global sales organization and securing major contracts, including the U.S. Army's Short Range Reconnaissance Program of Record. In his new role, he will oversee all revenue-generating operations, focusing on strategic partnerships and market expansion. The promotion follows Red Cat's recent success with its Black Widow drones being selected for the U.S. Army's SRR Program, part of the company's ARACHNID™ Family of Systems.
Palladyne AI (NASDAQ: PDYN) announced an expanded partnership with Red Cat Holdings and its Teal Drones subsidiary, focusing on joint sales and marketing activities. The partnership involves embedding Palladyne AI's artificial intelligence software into Teal drones to enable autonomous operation and create networks of collaborating drones. The Palladyne Pilot software will be available on all Teal drones, including those to be delivered under Red Cat's recent U.S. Army's Short Range Reconnaissance Program contract, with deliveries expected to begin in 2025.
Red Cat Holdings (RCAT) has been selected as the winner of the U.S. Army's Short Range Reconnaissance (SRR) Program of Record. The selection follows a comprehensive evaluation of Teal's next generation sUAS, the Black Widow and WEB systems. The Army's current acquisition objective is 5,880 systems over a 5-year performance period. The selection was based on soldier feedback, technical performance, volume manufacturability, and system cost. This achievement follows Red Cat's recent acquisition of FlightWave Aerospace and the announcement of the ARACHNID™ family of systems.
Red Cat Holdings (Nasdaq: RCAT) has announced a Town Hall Meeting scheduled for Tuesday, November 19, 2024, at 4:30 p.m. Eastern Time. The drone technology company will provide updates on their Black Widow™ system, which was recently introduced as part of their ARACHNID™ Family of Small ISR and Precision Strike Systems at AUSA 2024.
The meeting, accessible via Zoom, will include management's formal remarks followed by a question-and-answer session. The event is open to investors, analysts, and media members, focusing on developments in their military, government, and commercial operations.
Red Cat Holdings (Nasdaq: RCAT) has secured a contract to supply 12 FlightWave Edge 130 Blue systems to the Royal Australian Navy through Criterion Solutions Pty The Edge 130 Blue, acquired through Red Cat's September 2024 acquisition of FlightWave, is a military-grade tricopter designed for long-range surveillance and reconnaissance.
The system features 60+ minute flight time, weighs 1200g, and can be assembled and launched by a single user in one minute. This contract expands Red Cat's relationship with Australian defense forces, strengthening their presence in the Indo-Pacific region's defense sector.
Red Cat Holdings, Inc. (Nasdaq: RCAT) has secured a $1 million contract from the United States Army Communications-Electronics Command (CECOM) for its Edge 130 Blue drones. The contract was obtained through Noble and coordinated by the U.S. Defense Logistics Agency (DLA). This follows Red Cat's acquisition of FlightWave in September 2024, which brought the Edge 130 Blue into its portfolio of unmanned reconnaissance and precision lethal strike systems.
The Edge 130 Blue is a UAS-certified military-grade tricopter designed for long-range mapping, inspection, surveillance, and reconnaissance. Key features include:
- Assembly and hand-launch in one minute by a single user
- Weight of 1200g
- 60+ minute flight time in forward mode
- Industry-leading endurance among Blue UAS-approved drones
Red Cat CEO Jeff Thompson expressed commitment to supporting the U.S. Army's modernization strategy and transformation into a multi-domain force.
FAQ
What is the current stock price of Red Cat Holdings (RCAT)?
What is the market cap of Red Cat Holdings (RCAT)?
What is Red Cat Holdings, Inc. focused on?
What are some key achievements of Red Cat?
What products does Red Cat offer?
What are some of Red Cat's strategic partnerships?
What is the subsidiary of Red Cat involved in drone development?
How does Red Cat contribute to defense and security missions?
