Red Cat Holdings, Inc. - RCAT STOCK NEWS

Red Cat Holdings (Nasdaq: RCAT) announced that COO Dr. Allan Evans will present a corporate overview at the LD Micro Main Event XV from October 25-27, 2022, at the Luxe Sunset Boulevard Hotel in Los Angeles. Dr. Evans's presentation is scheduled for October 26 at 11:30 a.m. PT (Track 2). This event will showcase Red Cat's drone-based products and services across various markets, including military and consumer sectors. Attendees can register to watch the presentation online and schedule one-on-one meetings with Dr. Evans during the conference.

Red Cat Holdings (RCAT) reported record revenues of $10.6 million for Q1 FY2023, a 120% year-over-year increase. The cash and investment balance stands at $43 million with inventory at $6.4 million due to supply chain issues. Key highlights include Teal Drones receiving an FAA waiver and Skypersonic showcasing remote drone technology. CEO Jeff Thompson anticipates increasing demand from defense sectors, especially in Eastern Europe. The robust financial performance nearly matches half of the total revenues for FY2022, demonstrating strong growth potential amid economic challenges.

Red Cat Holdings (Nasdaq: RCAT) announced that its subsidiary, Skypersonic, showcased the innovative Skycopter drone at an aerospace event hosted by the Italian Consulate in Detroit on September 7. The event featured astronaut Roberto Vittori co-piloting the drone and participating in a panel on Italian contributions to space exploration. Following a successful technology validation on Mt. Etna, Skypersonic aims to advance its drone capabilities for both terrestrial and extraterrestrial applications, leveraging its Long Range Real-Time Remote Piloting System.

Red Cat Holdings, Inc. (NASDAQ: RCAT) is set to report its fiscal Q1 2023 financial results on September 12, 2022, prior to market opening. The decision to report early allows for discussions during the 24th Annual H.C. Wainwright Global Investment Conference on September 13 in New York City. CEO Jeff Thompson and CFO Joseph Hernon will host a conference call to review results and address corporate developments. A live webcast will also be available, with a replay accessible until December 12, 2022.

Red Cat Holdings will present at the 24th Annual H.C. Wainwright Global Investment Conference on September 13, 2022, at 10:00 am ET. CEO Jeffrey Thompson will provide a corporate overview and is available for one-on-one meetings. Red Cat, a provider of drone-based solutions, serves enterprise, military, and consumer markets through four subsidiaries, including Teal Drones and Skypersonic. The conference runs from September 12-14 at the Lotte New York Palace. For conference registration or to request a meeting, visit the conference website.

Red Cat Holdings (Nasdaq: RCAT) announced a significant milestone as its subsidiary Teal Drones received a waiver from the FAA, allowing a single pilot to control multiple drones. This waiver permits dynamic re-tasking during operations, marking a first in the industry for multi-drone technology. The public flight demonstration is scheduled for October 25, 2022, at Kane Stadium, Secaucus, NJ. This achievement is expected to facilitate future FAA authorizations, enhance operational efficiency, and reduce costs for drone implementations across various sectors including public safety and asset inspections.

Red Cat Holdings, Inc. (Nasdaq: RCAT) announced a licensing agreement with Autonodyne, LLC, enhancing its Golden Eagle drone with exclusive autonomous capabilities. This partnership positions Red Cat as a leader in multi-vehicle drone operations, particularly for government and military applications. The integration of Autonodyne software increases gross margins from 42% to over 60%. The Golden Eagle is one of only five drones certified for U.S. Government use, highlighting its strategic importance in current military operations.

Red Cat Holdings (NASDAQ: RCAT) has partnered with Reveal Technology to enhance its mapping software, Farsight, with a multi-drone system that increases the speed and accuracy of geographic intelligence. This collaboration enables military teams to generate detailed 3D maps quickly, providing insights into line-of-sight and terrain analysis. The technology was successfully demonstrated to U.S. Army Special Operations Command, showcasing its potential for improved mission success by allowing real-time data processing without network reliance.

Skypersonic, a division of Red Cat Holdings, has been contracted by NASA to provide technology for a simulated Mars mission. The company has successfully validated its drone and rover software and hardware during extensive tests on Mt. Etna, Sicily, simulating Martian conditions. The Skycopter drone can be piloted remotely, overcoming GPS limitations, which is critical for extraterrestrial exploration. The upcoming yearlong mission will involve four crew members operating the technology in a 1,700-square-foot module, indicating continued confidence in Skypersonic's capabilities.