Red Cat Holdings, Inc. (RCAT) Form 10-Q — Aug 6, 2026
Red Cat Holdings' fiscal Q2 2026 revenue surged 527% year over year to $20.2 million, driven primarily by scaled drone deliveries to the U.S. Army and the commencement of deliveries to the Japan Ground Self-Defense Force. Six-month revenue reached $35.7 million, up 636% from $4.8 million a year earlier. The company swung to positive gross profit of $3.3 million (16.1% margin) in the quarter, but its net loss widened to $35.3 million ($0.26 per share) as total operating expenses more than tripled to $41.9 million, led by R&D of $14.2 million and G&A of $21.2 million on hiring and higher stock-based compensation.
Key figures
- Revenue
- 20189000
- Total Debt
- 892000
- Revenue Yoy
- 527%
- Cash Position
- 325553000
- Shares Outstanding
- 152714362
- Gross Margin Q2
- 16.1%
- Gross Profit Q2
- 3260000
- Working Capital
- 396500000
- Six Month Revenue
- 35660000
- Six Month Revenue Yoy
- 636%
- Stock Comp Six Months
- 9859000
- Prior Year Gross Margin Q2
- 11.6%
- Total Operating Expenses Q2
- 41905000
- May2026 Offering Gross Proceeds
- 258750000
- May2026 Offering Price Per Share
- 9.4
- Apium Acquisition Consideration
- 19800000
- Quaze Acquisition Consideration
- 21349000
- Customer ARevenue Share Six Months
- 51%
- September2025 Offering Gross Proceeds
- 172500000
Price after filing
Close on the filing date to close N calendar days later (from $8.86). Historical, not a forecast.
AI analysis
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