Red Cat Hldgs Inc - RCAT STOCK NEWS

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.

Red Cat Holdings (Nasdaq: RCAT) has introduced its ARACHNID™ family of unmanned intelligence, surveillance, and reconnaissance (ISR) and precision strike systems at AUSA 2024. This family is designed to align with the U.S. Army's roadmap for integrating UAS and long endurance aircraft in combined arms operations. Key components include:

1. Black Widow™: A rucksack-portable sUAS for operation in Electronic Warfare environments, succeeding Teal 2 with enhanced capabilities.

2. WEB™ (Warfighter Electronic Bridge): A Ground Control Station for operating the entire ARACHNID family.

3. FANG™: A line of First-Person View drones for medium-range reconnaissance and persistent strike.

4. TRICHON™: Building upon the FlightWave Edge 130 Blue for medium-range operations.

Red Cat aims to shift from legacy, high-cost UAS to highly interoperable systems adaptable to evolving battlefield needs, emphasizing layered deployment, extended reach, and reduced cognitive burden for warfighters.

Red Cat Holdings, Inc. (Nasdaq: RCAT), a drone technology company, has announced that Brett has joined its Board of Advisors. Brett is a drone industry expert, national media personality, and best-selling author of Drone Warrior. His expertise in drone technology and firsthand understanding of warfighters' needs will provide strategic guidance to Red Cat during its rapid innovation and growth phase.

Jeff Thompson, Red Cat CEO, emphasized the importance of Brett's perspective on complex drone operations as technology advances. Brett highlighted the U.S. Army's integration of sUAS into tactical operations and Red Cat's potential role in this area with its family of portable, low-cost, field repairable, and recoverable ISR drones with precision strike payloads.

Brett's background includes a distinguished career in the U.S. Army, serving in Tier 1 special operations units with six combat deployments overseas. He currently serves on several advisory boards focused on implementing drone technology globally and holds an MBA in International Business from Duke University.