Red Cat Holdings reports strong Q1 2025 financial results, displaying growth and new initiatives.

From GlobeNewswire: 2024-09-23 16:03:00

Red Cat Holdings reports financial results for Q1 2025 with $2.8M in revenue, 59% YoY growth, and a backlog of $13M. The company presented drone solutions at various Defense Conferences, announced a new Family of Small ISR and Precision Strike Systems, and closed the FlightWave acquisition agreement. Red Cat also launched the Red Cat Futures Initiative, a Robotics and Autonomous Systems Industry Consortium. The company’s guidance for 2025 is $50-$55M, excluding government or NATO programs of record, as they await news on the U.S. Army’s Short-Range Reconnaissance Program of Record. Red Cat plans to scale up production capacity, integrate the Edge 130 Blue into their systems, and explore new revenue streams and partnership opportunities. CEO Jeff Thompson and CFO Leah Lunger will host an earnings call to discuss financial results and corporate developments. Key financial highlights include 59% YoY growth, $13M in backlog, and quarterly revenue of $2.8M. Red Cat’s balance sheet as of July 31, 2024, shows cash of $7.7M and total assets of $37.9M. The company also reported an operating loss of $7.7M and a net loss of $12.4M for the quarter, with a loss per share of $0.17. Cash flow from operating activities was -$2.3M, with net cash provided by investing activities of $4.3M and net cash used in financing activities of $0.3M. Cash and marketable securities at the end of the period totaled $7.7M for continuing operations.



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