Welcome to our dedicated page for Red Cat Hldgs news (Ticker: RCAT), a resource for investors and traders seeking the latest updates and insights on Red Cat Hldgs 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 (Nasdaq: RCAT) anticipates significant opportunities from the recently passed infrastructure bill, which allocates over $280 billion for essential programs. With existing government relationships via its subsidiaries, Teal Drones and Skypersonic, the company aims to expand its role in infrastructure projects, especially in drone inspection services. Additionally, Congress is debating $50 million for the 'Drone Infrastructure Inspection Grant Act' for 2022 and 2023, enhancing funding for drone uses. CEO Jeff Thompson highlights the potential contracts and services aligned with U.S. government needs.
Red Cat Holdings, Inc. (Nasdaq: RCAT) has announced the opening of its new manufacturing facility for TEAL Drones in Salt Lake City, Utah, following its recent acquisition of Teal Drones. This 13,000+ square foot facility focuses on quality standards and aims to scale operations rapidly. The factory is currently operational, with plans for increased automation and fulfillment of orders. CEO Jeffrey Thompson highlighted the facility's potential to transform the drone industry.
Red Cat Holdings, Inc. (Nasdaq: RCAT) will present a corporate overview at the Dawson James 6th Annual Small Cap Growth Conference on October 21, 2021, at 1:35 PM ET, in Jupiter, FL. CEO Jeffrey Thompson is slated to discuss the company's strategic direction and will also be available for one-on-one meetings. A live webcast of the presentation will be accessible on the company's Investor Relations Calendar. Red Cat provides innovative solutions to the drone industry through its subsidiaries, enhancing its position in the market.
Red Cat Holdings, Inc. (Nasdaq: RCAT) announced that CEO Jeffrey Thompson will present virtually at The Microcap Rodeo Fall Harvest Best Ideas Conference on October 5, 2021, at 1:30 PM ET. Following the presentation, Mr. Thompson will be available for one-on-one meetings on October 7 and October 8. Interested parties can schedule a meeting by emailing Angie.Goertz@issuerdirect.com. Red Cat, a drone industry service provider, operates through subsidiaries specializing in FPV products, drone sales, inspection solutions, and flight data analytics.
Red Cat Holdings, Inc. (Nasdaq: RCAT) will present a corporate overview at the 14th Annual LD Micro Main Event Conference, taking place in Los Angeles from October 12-14, 2021. CEO Jeffrey Thompson is set to deliver the presentation on October 12 at 1:30 PM PT, with one-on-one meetings available throughout the event. Additionally, George Matus, founder of Red Cat subsidiary Teal Drones, will appear on Fox Business News on September 29, 2021. Red Cat specializes in drone solutions through its subsidiaries, including Fat Shark and Rotor Riot.
Red Cat Holdings (Nasdaq: RCAT) announced that its subsidiary, Skypersonic, secured a five-year contract with NASA to supply software, hardware, and support for a simulated Mars mission. The project involves real-time remote piloting of drones and rovers from Skypersonic, which will enhance NASA's preparations for future human missions to Mars. This collaboration underscores Red Cat's innovative capabilities in drone technology, particularly with their patent-pending remote piloting system that aims to reduce costs in drone fleet operations.
Red Cat Holdings (Nasdaq: RCAT) reported strong financial results for the fiscal quarter ending July 31, 2021. Revenues increased to approximately $1.4 million, up from $548,000 in the same quarter last year. However, the adjusted net loss rose to around $1.1 million compared to $276,000 in 2020. The company has a robust cash position of $66.1 million and closed significant acquisitions, including Teal Drones. CEO Jeffrey Thompson noted that these moves enhance their leadership in the drone sector, particularly in military applications.
Red Cat Holdings, Inc. (Nasdaq: RCAT) will report its fiscal first quarter 2022 financial results on September 20, 2021, after market close. The results will cover the period ending July 31, 2021. CEO Jeff Thompson and CFO Joseph Hernon will hold a conference call at 5:00 p.m. ET on the same day to discuss the financial results and corporate developments. Interested participants can join the call or access a live webcast. A replay will be available until December 20, 2021.
Red Cat Holdings, Inc. (Nasdaq: RCAT) appointed Geoffrey Hitchcock as Senior Vice President of Global Defense Solutions as of Sept. 2, 2021. Hitchcock, who has 35 years of experience including 22 years in the Air Force, aims to expand military opportunities for the Teal Golden Eagle drone. This is significant following Congress's ban on federal funds for Chinese drones. His previous roles include VP at Vantage Robotics and Director at AeroVironment. The company anticipates that his leadership will enhance their military contract acquisition capabilities, following their recent acquisition of Teal Drones.
Red Cat Holdings, Inc. (Nasdaq: RCAT) has completed its acquisition of Teal Drones, a leader in commercial and government UAV technology. This acquisition enhances Red Cat's position in the drone industry by providing end-to-end solutions across consumer and enterprise segments.
Teal's Golden Eagle drone, approved by the U.S. Department of Defense, significantly strengthens Red Cat's military offerings. Teal will anchor the Enterprise Segment, integrating with existing subsidiaries like Skypersonic to offer a comprehensive suite of technologies aimed at military applications and infrastructure inspections.
FAQ
What is the current stock price of Red Cat Hldgs (RCAT)?
What is the market cap of Red Cat Hldgs (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?
