Red Cat Holdings, Inc. - RCAT STOCK NEWS

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.

Red Cat Holdings, Inc. (Nasdaq: RCAT) will present a corporate overview at the Q1 Investor Summit Conference from March 8-9, 2022. CEO Jeffrey Thompson's presentation is scheduled for March 8 at 1:15 PM ET. Attendees can register for the virtual event. Red Cat, a provider of drone-based solutions for various markets, offers products through its subsidiaries, including Teal Drones and Skypersonic. The company is focused on advancing drone technologies and services, highlighting its commitment to innovation in the drone industry.

Red Cat Holdings, Inc. (NASDAQ: RCAT) announced the appointment of Christopher R. Moe to its Board of Directors. Moe brings significant experience in operational finance and venture capital, currently serving as CFO of a cargo drone developer. His background includes leadership roles at Yates Electrospace Corporation and Vectrix Holdings. CEO Jeff Thompson expressed optimism in Moe's guidance to scale drone manufacturing and expand sales. Red Cat aims to leverage its strengths in military and consumer markets to drive future growth.

Red Cat Holdings, Inc. (Nasdaq: RCAT) announced that CEO Jeff Thompson will present at the MicroCap Rodeo Winter Wonderland Best Ideas Virtual Investor Conference from February 8 to 11, 2022. His presentation is scheduled for February 8 at 12:30 PM ET. Attendees can participate in one-on-one meetings with him on February 10 and 11, 2022. Red Cat Holdings provides drone-based solutions across various sectors. For more information or to arrange meetings, interested parties can email angie.wright@issuerdirect.com.

Red Cat Holdings, Inc. (Nasdaq: RCAT) announced that its subsidiary, Teal Drones, secured a firm-fixed-price blanket purchase agreement worth up to $90 million with U.S. Customs and Border Protection. This contract allows for ordering unmanned aircraft systems over a 5-year period, enhancing operational capabilities for Homeland Security. CEO Jeff Thompson highlighted the significance of this achievement and the potential for U.S.-made drone solutions under current government mandates. Teal Drones operates from a new 26,000-square foot facility in Salt Lake City, supporting various drone applications.

Red Cat Holdings, Inc. (Nasdaq: RCAT) reported significant financial growth for the fiscal quarter ending October 31, 2021. Revenues surged over 300% year-over-year to approximately $1.9 million, with a cash reserve of $60 million. However, adjusted net losses rose to about $3 million, up from $640,000 the previous year. The company highlighted the acquisition of Teal Drones, which is expected to enhance revenue through military contracts and new manufacturing capabilities. The federal infrastructure bill further presents growth opportunities.