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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.
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Red Cat Holdings, Inc. (Nasdaq: RCAT) announces its participation in Expodefensa 2023 in Bogotá, showcasing its Teal 2 drone solution. The company aims to expand into the Latin America defense and security market, emphasizing the unique features and certifications of its Teal 2 drone, targeting government and private enterprise clients.
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Red Cat Holdings, Inc. (Nasdaq: RCAT) announces management changes including the appointment of George Matus, CEO of Teal Drones, as Chief Technology Officer, the departure of Allan Evans to become CEO of Unusual Machines, Inc., and the retirement of Joseph Hernon. Red Cat is expected to become the largest shareholder in Unusual Machines after the sale of its Consumer segment. The Department of Defense SRR Program of Record is expected to be awarded in 2024, for which Red Cat is one of three finalists. George Matus, a technologist and entrepreneur, founded Teal in 2015 and continues to lead the company after its acquisition by Red Cat in 2021. Teal 2, the flagship product, is designed to support U.S. military operations, public safety organizations, and U.S. government agencies in various environments.
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Red Cat Holdings, Inc. (Nasdaq: RCAT) announces CEO Jeff Thompson's participation in the Association for Uncrewed Vehicle Systems International's Partnership for Drone Competitiveness press conference. The event aims to enhance the U.S. drone industry and reduce reliance on Chinese drones. Red Cat's subsidiary, Teal Drones, offers the Teal 2, a man-portable drone solution designed to 'Dominate the Night™' with best-in-class night vision camera, modular design, and AI capabilities.
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Red Cat Holdings, Inc. (Nasdaq: RCAT) announces that its subsidiary Teal Drones has been awarded a $750,000 Manufacturing Modernization Grant from the State of Utah. The grant aims to modernize manufacturing, increase supply chain resilience, and decrease American dependence on foreign manufacturing in Utah. This will expand Teal’s manufacturing capability and ensure that both existing and future products will be manufactured in Teal’s South Salt Lake facility. Teal's flagship Teal 2 drone, designed for defense and commercial use, features best-in-class night vision camera, fully modular design, multi-vehicle control, and artificial intelligence capabilities.
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Red Cat Holdings, Inc. (Nasdaq: RCAT) reports a 123% sequential increase in revenue for the fiscal second quarter of 2024, reaching approximately $3.9 million. The company affirms previous guidance of approximately $5 million in revenue for the fiscal third quarter, representing a 28% sequential increase. Backlog stands at approximately $4.5 million at October 31, 2023, the highest in the company's history.
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Red Cat Holdings to present corporate overview at ThinkEquity Conference
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Red Cat Holdings, Inc. announces participation in two October 2023 conferences.
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Red Cat Holdings to present corporate overview at LD Micro Main Event XVI
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Red Cat Holdings' subsidiary, Teal Drones, has signed $1.8 million in contracts with U.S. Customs and Border Protection to provide Teal 2 systems to U.S. Border Patrol. The contract is part of a Blanket Purchase Agreement with a total estimated value of $90 million over five years. Red Cat CEO expects the Teal 2 revenue to accelerate, bringing the current backlog to over $7.5 million. The Teal 2 is designed to Dominate the Night™ and is equipped with Teledyne FLIR's new Hadron 640R sensor.
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Red Cat Holdings reports Q1 2024 financial results, including strong revenues and partnerships. Sale of Consumer segment expected to close in Q2. Teal 2 drone generates $2M in sales in first quarter. Enterprise segment expects record sales levels.
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FAQ
What is the current stock price of Red Cat Holdings (RCAT)?
The current stock price of Red Cat Holdings (RCAT) is $7.3 as of November 21, 2024.
What is the market cap of Red Cat Holdings (RCAT)?
The market cap of Red Cat Holdings (RCAT) is approximately 573.1M.
What is Red Cat Holdings, Inc. focused on?
Red Cat specializes in secure blockchain-based distributed storage, analytics, and SaaS solutions for the drone industry.
What are some key achievements of Red Cat?
Red Cat has successfully collaborated with Ocean Power Technologies to enhance ocean surveillance and maritime domain awareness.
What products does Red Cat offer?
Red Cat provides solutions such as the Golden Eagle drone for night-time operations and unmanned aircraft for interior spaces.
What are some of Red Cat's strategic partnerships?
Red Cat partners with companies like Primordial Labs, Tomahawk Robotics, and Athena AI to deliver advanced autonomy solutions.
What is the subsidiary of Red Cat involved in drone development?
Teal Drones, a Red Cat subsidiary, develops the Golden Eagle drone with high-resolution imaging for night-time operations.
How does Red Cat contribute to defense and security missions?
Through partnerships and advanced solutions, Red Cat enhances autonomy for greater maritime situational awareness in defense and security missions.
Red Cat Holdings, Inc.
Nasdaq:RCAT
RCAT Rankings
RCAT Stock Data
573.14M
58.09M
21.2%
17.81%
6.79%
Computer Hardware
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