Red Cat Hldgs Inc Stock Price, News & Analysis

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.

Red Cat Holdings, Inc. (Nasdaq: RCAT) announced a significant purchase order from Drone Nerds, the largest drone distributor in the U.S., for the Golden Eagle drone from Teal Drones. The order signifies validation of Red Cat's strategy in the drone industry. It follows a recent selection for U.S. Army contracts, representing combined revenues of nearly $4 million. The Golden Eagle will be showcased at the AUVSI Convention from August 16-19, 2021, in Atlanta, highlighting Red Cat's growing influence in the drone market.

Red Cat Holdings, Inc. (RCAT) reported a significant year-over-year revenue increase, with approximately $5.0 million for the fiscal year ended April 30, 2021, up from $0.4 million in 2020. However, the adjusted net loss rose to $1.6 million from $1.3 million. The company successfully raised $76 million through common stock financings to support growth initiatives. Red Cat is integrating three acquisitions, focusing on military applications and infrastructure inspections post-acquisition of Teal Drones. The financial statements were filed with the SEC for transparency.

Red Cat Holdings, Inc. (Nasdaq: RCAT) will report its fiscal year-end financial results on August 12, 2021, at 4 p.m. Eastern Time. An investor call will follow at 5 p.m. Eastern Time, accessible via phone or webcast. Red Cat provides solutions to the drone industry through its subsidiaries, including Fat Shark Holdings, Rotor Riot, Skypersonic, and Red Cat Propware. Their offerings range from FPV video goggles to drone flight data analytics. The company highlights its commitment to innovation in the drone sector, although future risks are acknowledged.

Red Cat Holdings, Inc. (NASDAQ: RCAT) announced the closure of its public offering of 13,333,334 shares at $4.50 each, raising approximately $60 million. The offering includes a 45-day option for underwriters to purchase an additional 2 million shares. Proceeds will fund sales and marketing for Red Cat Drone Services, strategic acquisitions, and general working capital. The offering was conducted under a previously filed registration statement with the SEC. ThinkEquity served as the sole book-running manager for this offering.

Red Cat Holdings, Inc. (NASDAQ: RCAT) announced an underwritten public offering of 13,333,334 shares at $4.50 per share, totaling approximately $60 million in gross proceeds before deductions. The offering is set to close on July 21, 2021, pending customary conditions. The funds will support sales and marketing for its Drone Services, strategic acquisitions, and general working capital. The underwriters have an option to purchase an additional 2 million shares. The offering will be made through a shelf registration statement filed with the SEC.

Red Cat Holdings, Inc. (NASDAQ: RCAT) has announced a proposed public offering of its common stock, to be sold entirely by the Company. The offering, managed by ThinkEquity, is subject to market conditions without a guaranteed timeline or specifics on size. The net proceeds will primarily support general corporate purposes. The shares will be offered under a shelf registration statement filed with the SEC. Interested investors should review the preliminary prospectus for details.