Red Cat Holdings, Inc. - RCAT STOCK NEWS

Red Cat Holdings (Nasdaq: RCAT) will present a corporate overview at the H.C. Wainwright Global Hybrid Investment Conference from May 23-26, 2022, in Miami Beach. CEO Jeffrey Thompson's presentation is scheduled for May 24 at 11:00 am ET. He will also introduce a groundbreaking product aimed at transforming drone usage for defense and first responders. Attendees can register for the conference and schedule one-on-one meetings with Mr. Thompson to discuss the company's innovative solutions in the drone industry.

Red Cat Holdings, Inc. (Nasdaq: RCAT) subsidiary Skypersonic celebrated a successful two-year inspection program with General Motors. The program employed the Skycopter™ drone for crane rail inspections at 19 North American stamping facilities. Inspections reduced time from 8-12 hours to just 2-3 hours, increasing workplace safety and efficiency. A total of 50,000 feet of crane rails were video recorded over 200+ flight hours, leading to a potential future reduction of inspection time to six months. Skypersonic aims to establish the Skycopter as a standard inspection tool across GM's plants.

Red Cat Holdings (Nasdaq: RCAT) announces the launch of its new FPV drone headset, Dominator, developed by its Fat Shark subsidiary. This low-latency, 1080p digital goggle offers enhanced flight range over existing headsets. Pre-orders will begin soon, with shipping expected in June 2022. The Dominator represents a pivotal advancement in FPV technology, aimed at driving revenue growth for the company. The first public demonstration will occur at Rotor Riot RAMPAGE 2022 in South Carolina from May 14-16, featuring notable drone pilots.

Red Cat Holdings (Nasdaq: RCAT) announced that CEO Jeffrey Thompson will present a corporate overview at the Planet MicroCap Showcase 2022 from May 3-5 in Las Vegas, NV. Thompson's presentation is scheduled for May 4 at 2:30 PM Pacific Time. Attendees can register for the conference and request one-on-one meetings with Thompson. Red Cat specializes in drone technology, offering services through five subsidiaries, including Teal Drones, recognized for its Department of Defense-approved drones. More information can be found on their website.

Red Cat Holdings (Nasdaq: RCAT) announced its participation in the AUVSI XPONENTIAL expo from April 26-28 in Orlando, FL. The company will showcase its Golden Eagle and Skycopter drones at Booth 2215. The Golden Eagle, compliant with Department of Defense standards, was awarded a contract for the U.S. Army's SRR T2 program and delivered units for the Ukraine conflict. The Skycopter, under three pounds, is designed for industrial inspections and emergency situations.

Red Cat Holdings (Nasdaq: RCAT) announced its subsidiary Teal Drones secured an order for 15 Golden Eagle drones, along with spares and training, from a NATO member for deployment in Ukraine. This highlights the increasing demand for reconnaissance drones amid ongoing conflict. Teal's ability to provide these drones at scale, despite supply chain challenges, positions the company favorably. Red Cat's CEO emphasized strong interest from European defense budgets due to recent geopolitical events, predicting this order is the first of many future relationships in the region.

Red Cat Holdings, Inc. (Nasdaq: RCAT) announced its fiscal Q3 2022 results, reporting a 13% decrease in revenue to $1.86 million compared to Q3 2021, while revenue for the nine-month period rose 64% to $5.12 million. Operating expenses surged to $3.2 million, up from $1.1 million year-over-year, influenced by acquisitions and increased headcount. The company maintains a strong balance sheet with approximately $56 million in cash and marketable securities. Red Cat secured major contracts with the U.S. Army and Customs and Border Protection, indicating future growth.

Red Cat Holdings, Inc. (Nasdaq: RCAT) announced its subsidiary Teal Drones has been chosen by the U.S. Army's Defense Innovation Unit to participate in the Short Range Reconnaissance Tranche 2 (SRR T2) Program. Teal's contract is valued at $1.5 million for developing a next-generation small unmanned aerial system focused on surveillance. Following a successful demonstration, Teal will advance to the prototype phase to meet Army requirements. This selection positions Teal among the top drone manufacturers and reinforces its technical capabilities.

Red Cat Holdings, Inc. (Nasdaq: RCAT) will report its fiscal third quarter 2022 financial results for the period ending January 31, 2022, on March 17, 2022, after market close. CEO Jeff Thompson and CFO Joseph Hernon will host an earnings call at 5:00 PM ET the same day to discuss results and corporate updates. Investors can join by calling 1-866-777-2509 or via a live webcast. Red Cat offers drone solutions across military, enterprise, and consumer markets, with subsidiaries like Teal Drones and Fat Shark focusing on unmanned aircraft systems and FPV technology.