RedCloud Reports Financial Results for the Six Months Ended June 30, 2026 and Provides Operational Update

Stockholders’ deficit widened to $20,618,522 at June 30, 2026, from $6,962,613 at December 31, 2025.

Rhea-AI Summary

RedCloud (Nasdaq: RCT) reported revenue of $24.0 million for the six months ended June 30, 2026, up 34% year over year. Total trading volume rose 30% to $1.56 billion. Operating loss narrowed 15% to $17.1 million, while net loss narrowed 30% to $18.5 million. Operating cash outflow was $8,207,239, versus $15,916,911 a year earlier.

RedCloud signed agreements for a Saudi Arabia and Bahrain joint venture, retaining a 51% interest through its UK subsidiary under a twenty-year license. An India joint venture with Dheer and Klakshya includes a twenty-year licensing agreement for up to $120 million. The company forecasts $20 million in revenue and $1.2 billion in trade under a three-year Argentina agreement. RedAI CORE, its trade execution engine, made its commercial debut with 30 selected distributor customers. After June 30, RedCloud raised approximately $2.1 million through private placements and share sales.

20 points · 1 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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0 major · 14 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointIndia joint venture with Dheer and Klakshya includes twenty-year licensing for up to $120 million. 8.5× market cap
• Moderate pointFirst-half 2026 revenue increased 34% year over year to $24.0 million.
• Moderate pointFirst-half 2026 trading volume increased 30% year over year to $1.56 billion.
• Moderate pointOperating loss narrowed 15% year over year to $17.1 million in first-half 2026.
• Moderate pointNet loss narrowed 30% year over year to $18.5 million in first-half 2026.
• Moderate pointSaudi Arabia and Bahrain agreements establish a joint venture with a twenty-year platform license.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Three-year Argentina agreement carries company forecasts of $20 million revenue and $1.2 billion FMCG trade.
• Moderate pointOperating cash outflow fell to $8,207,239 in first-half 2026 from $15,916,911 a year earlier.
• Moderate pointFinancing activities provided $9,812,947 in first-half 2026, versus $20,734,434 a year earlier.
• Moderate pointPost-June 30 financing raised approximately $2.1 million through private placements and at-the-market share sales. 15% of market cap

10 minor points

• Minor pointBasic and diluted loss per share improved to $0.33 from $0.74 in first-half 2025.
• Minor pointRedCloud UK’s 51% joint-venture interest accompanies charges of up to 10% of collected net revenue.
• Minor pointRedAI CORE commercial debut launched alongside RedAI Sales with 30 selected distributor customers.
• Minor pointInvesting cash outflow fell to $1,294,666 in first-half 2026 from $2,232,765 a year earlier.
• Minor pointCash and cash equivalents rose to $766,859 at June 30, 2026, from $478,983 at December 31, 2025.
• Minor pointSalaries, benefits and contractor costs fell to $10,444,538 in first-half 2026 from $12,820,835 a year earlier.
• Minor pointInterest expense fell to $810,987 in first-half 2026 from $1,176,502 a year earlier.
• Minor pointOther non-operating expenses fell to $626,803 in first-half 2026 from $5,371,390 a year earlier.
• Minor pointOther current liabilities fell to $1,210,849 at June 30, 2026, from $3,130,616 at December 31, 2025.
• Minor point. Forward-looking: it has not happened yet and may not happen.Capital structure and liquidity improvements are planned by RedCloud to support growth across more countries.

Negative

• Moderate pointStockholders’ deficit widened to $20,618,522 at June 30, 2026, from $6,962,613 at December 31, 2025.
• Moderate pointAccounts payable and accrued expenses rose to $12,697,073 at June 30, 2026, from $4,596,961 at December 31, 2025.
• Moderate pointShareholder loans payable rose to $12,355,559 at June 30, 2026, from $8,123,835 at December 31, 2025.
• Moderate pointConvertible notes, net of discount were $2,243,863 at June 30, 2026, versus none at December 31, 2025.
• Moderate pointPost-June 30 private placements and at-the-market share sales add shares, diluting existing holders.
• Moderate pointMarketing and commissions rose to $23,653,247 in first-half 2026 from $18,471,073 a year earlier.
• Moderate pointTwo India deployment arrangements remain at memorandum-of-understanding status.

7 minor points

• Minor pointShort-term borrowings rose to $3,769,754 at June 30, 2026, from $3,765,234 at December 31, 2025.
• Minor pointSenior convertible notes issued in February 2026 currently have $1.8 million principal outstanding after repayments and conversions.
• Minor pointGeneral and administrative expenses rose to $1,516,967 in first-half 2026 from $1,350,742 a year earlier.
• Minor pointOther operating expenses rose to $5,465,484 in first-half 2026 from $5,328,164 a year earlier.
• Minor pointOther current assets fell to $3,398,043 at June 30, 2026, from $4,865,453 at December 31, 2025.
• Minor pointOther non-current assets fell to $565,726 at June 30, 2026, from $579,442 at December 31, 2025.
• Minor pointSaudi Arabia and Bahrain joint venture agreements include RedCloud as parent guarantor.

News Explained

At June 30, cash was $766,859 against $32,277,098 in current liabilities; $1.8 million of senior convertible-note principal remained outstanding at release.

After June 30, RedCloud reports about $2.1 million raised through private placements and at-the-market (ATM) share sales; an ATM sells new shares gradually, so those sales expand the existing share base, but the release gives neither the ATM amount nor a share count.

At June 30, cash of $766,859 was below current liabilities of $32,277,098; as of this release, $1.8 million of principal remained outstanding on certain senior convertible notes after contractual repayments and holder-elected conversions.

Key Figures

Revenue: $24.0 million; increased 34% Operating loss: ($17.1) million; decreased 15% Net loss: ($18.5) million; decreased 30% +5 more

Revenue

$24.0 million; increased 34%

Six months ended June 30, 2026

Operating loss

($17.1) million; decreased 15%

Six months ended June 30, 2026

Net loss

($18.5) million; decreased 30%

Six months ended June 30, 2026

Total trading volume

$1.56 billion; increased 30%

Six months ended June 30, 2026

India licensing agreement

Up to $120 million

Twenty-year agreement associated with an India joint venture

Saudi Arabia and Bahrain joint venture interest

51%

Retained by RedCloud UK

Joint venture revenue charge

Up to 10% of collected net revenue

Saudi Arabia and Bahrain joint venture

Argentina agreement forecast revenue

$20 million

Forecast over the three-year agreement

Previous Earnings Reports

1 past event · Latest: May 19

Same Type 1 event

1. May 19

   Earnings report

   24h Move

   +5.0%

   FY2024 revenue rose 135% year over year to $46.5 million.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

at-the-market sales, senior convertible notes, stock-based compensation

3 terms

at-the-market sales financial

"raised approximately $2.1 million from private placements with existing shareholders as well as at-the-market sales of shares."

At-the-market sales are a way for a company to raise cash by gradually selling new shares directly into the open market at current trading prices through a broker, rather than in a single big offering. Investors should care because this drip-feed approach can dilute existing shareholdings and put modest downward pressure on the stock as supply increases, but it also gives the company flexible, on-demand funding without a fixed share price.

senior convertible notes financial

"The principal amount outstanding under certain senior convertible notes issued in February 2026"

A senior convertible note is a loan a company issues that ranks near the top of payment priority and can be exchanged for the company’s stock under preset terms. Think of it as an IOU that promises interest payments and first dibs on repayments if assets are liquidated, but also gives the lender the option to become an owner later; investors watch these for repayment safety, interest income, and potential stock dilution.

stock-based compensation financial

"as well as lower stock-based compensation expense."

Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.

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- Revenue increased 34% to $24.0 million -
- Operating loss decreased 15% to ($17.1) million -
- Net loss decreased 30% to ($18.5) million -
- Total trading volume increased 30% to $1.56 billion -

LONDON, Sept. 30, 2026 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (Nasdaq: RCT) (“RedCloud” or the “Company”), the company building intelligent infrastructure for global trade, today reported results for the six months ended June 30, 2026 and provided an update on its operations.

Business Developments

• RedCloud's wholly-owned subsidiary, RedCloud Technologies Limited ("RedCloud UK"), together with the Company in its capacity as parent guarantor, entered into a shareholders’ agreement and a twenty-year platform license and infrastructure usage agreement for the purpose of establishing a joint venture that will deploy and operate the RedAI trade infrastructure in Saudi Arabia and Bahrain. RedCloud UK will retain a 51% interest in the joint venture and charge it up to 10% of collected net revenue.
• In India, RedCloud signed a joint venture agreement and twenty-year licensing agreement for up to $120 million with Dheer and Klakshya and signed two Memoranda of Understanding to deploy RAID (Real-time AI for Distribution) and CORE across 11 apparel brands, more than 25,000 SKUs and more than 1,250 buyer points.
• RedCloud signed a three-year agreement in Argentina, forecasting $20 million of revenue over the period and $1.2 billion of FMCG trade through RedAI.
• RedAI CORE (Compounding Operating and Runtime Engine), RedCloud’s trade execution engine, made its commercial debut, launched alongside the RedAI Sales application with 30 selected distributor customers.
  

Financial Results for the Six Months Ended June 30, 2026

• Revenue increased 34% in the first half of 2026, primarily reflecting an increase of 30% in total trading volume conducted through the Company’s infrastructure.
• Operating loss decreased, reflecting higher revenue, which more than offset an increase of 8% in operating expenses driven primarily by higher spending on promotional and commission-based expenditure associated with transaction activity and data acquisition.
• Net loss decreased 30%, primarily reflecting the improvement in operating loss as well as lower stock-based compensation expense.
  

Financing Updates

• Net cash provided by financing activities was $9.8 million during the first half of 2026.
• Subsequent to June 30, 2026, the Company has raised approximately $2.1 million from private placements with existing shareholders as well as at-the-market sales of shares.
• The principal amount outstanding under certain senior convertible notes issued in February 2026 is currently $1.8 million following contractual repayments and certain conversions at the election of the holders.
  

Justin Floyd, Founder and Chief Executive Officer of RedCloud, said: “The global FMCG trade pays $2 trillion a year for bad prediction. AI models are trained on public data from the internet. The data that predicts trade has never been on it. More than $8.4 billion of FMCG transactions have passed through RedCloud’s infrastructure since 2023: data that cannot be scraped, synthesized or recreated. This is the foundation of RAID, our prediction model. Our expected joint ventures are RedCloud’s first trade infrastructure deployment with local data and infrastructure controls. We plan to improve our capital structure and sources of liquidity to grow our business and add scale across more countries. Trade has never had a shared intelligence. RedCloud is building it.”

About RedCloud

RedCloud Holdings plc (Nasdaq: RCT) builds AI infrastructure for the prediction of FMCG trade. More than $8.4 billion of FMCG transactions have passed through its infrastructure between early 2023 and June 2026, across more than 100,000 customers and 6,700 brands. RedCloud uses this proprietary transaction data to develop RAID (Real-time AI for Distribution), its prediction model for distribution, and deploys its infrastructure and associated products (“RedAI”) either directly or through joint ventures with partners who fund and operate local markets.

RedCloud is a British company registered in London. Justin Floyd is its Founder and Chief Executive Officer. For more information, please visit www.redcloudtechnology.com and connect on LinkedIn.

Forward-Looking Statements

The information in this press release may include forward-looking statements within the meaning of the federal securities laws. These statements include, without limitation, statements regarding the expected incorporation of joint ventures, improvements to the Company’s capital structure and sources of liquidity, the anticipated rollout of RedAI and related products in the markets in which it operates, the training of prediction models from local trading data, and execution of recommendations. Words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including, but not limited to, all supply chains running on predictive AI, the Company’s ability to build a transformational infrastructure for global trade and whether such infrastructure will successfully provide value to all supply chains, the ability to successfully implement RedAI into existing enterprise systems, the ability to provide predictive intelligence to successfully anticipate trends in the markets in which it operates and the ability to scale the framework and generate revenues. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements described in “Cautionary Note Regarding Forward-Looking Statements,” “Item 3. Key Information – D. Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in RedCloud’s most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission, as well as the Company’s periodic reports and other filings with the Securities and Exchange Commission. RedCloud undertakes no obligation to update or revise these forward-looking statements except as required by law.

Contacts

Investor Relations

investor.relations@redcloudtechnology.com

Media Relations

media@redcloudtechnology.com

REDCLOUD HOLDINGS PLC UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
		For the Six Months Ended June 30,
(USD, except share data)		2026				2025
Revenue		$	24,015,365			$	17,973,748
Operating expenses:
General and administrative			1,516,967				1,350,742
Salaries, benefits and contractor costs			10,444,538				12,820,835
Marketing and commissions			23,653,247				18,471,073
Other operating expenses			5,465,484				5,328,164
Total operating expenses			41,080,236				37,970,814
Operating loss			(17,064,871	)			(19,997,066	)
Interest expense			810,987				1,176,502
Other non-operating expenses			626,803				5,371,390
Net loss before income taxes			(18,502,661	)			(26,544,958	)
Income tax benefit			-				-
Net loss		$	(18,502,661	)		$	(26,544,958	)
Loss per Share, basic and diluted		$	(0.33	)		$	(0.74	)

REDCLOUD HOLDINGS PLC UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(USD)		June 30, 2026				December 31, 2025
ASSETS
Cash and cash equivalents		$	766,859			$	478,983
Other current assets			3,398,043				4,865,453
Total current assets			4,164,902				5,344,436
Intangible assets, net			6,927,948				6,730,155
Other non-current assets			565,726				579,442
Total Assets		$	11,658,576			$	12,654,033
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Accounts payable and accrued expenses		$	12,697,073			$	4,596,961
Shareholder loans payable			12,355,559				8,123,835
Short-term borrowings			3,769,754				3,765,234
Convertible notes, net of discount			2,243,863				-
Other current liabilities			1,210,849				3,130,616
Total current Liabilities			32,277,098				19,616,646
Total non-current liabilities			-				-
Total Liabilities			32,277,098				19,616,646
Total stockholders’ deficit			(20,618,522	)			(6,962,613	)
Total liabilities and stockholders’ deficit		$	11,658,576			$	12,654,033

REDCLOUD HOLDINGS PLC UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
		For the Six Months Ended June 30,
(USD)		2026				2025
Net cash used in operating activities		$	(8,207,239	)		$	(15,916,911	)
Net cash used in investing activities			(1,294,666	)			(2,232,765	)
Net cash provided by financing activities			9,812,947				20,734,434
Effect of exchange rate changes on cash and cash equivalents			(23,166	)			(2,516,041	)
Change in cash, cash equivalents and restricted cash during the period		$	287,876			$	68,717

Please refer to our Form 6-K with financial results for the six months ended June 30, 2026 for financial statements and related notes and disclosures.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were RedCloud RCT’s financial results for the first half of 2026?

RedCloud reported $24.0 million revenue, up 34% year over year, for the six months ended June 30, 2026. Operating loss narrowed 15% to $17.1 million and net loss narrowed 30% to $18.5 million. Basic and diluted loss per share was $0.33, compared with $0.74 a year earlier.

What are the terms of RedCloud’s India joint venture and licensing agreement?

RedCloud signed a joint venture agreement with Dheer and Klakshya and a twenty-year licensing agreement for up to $120 million. It also signed two memoranda of understanding to deploy RAID, its distribution prediction model, and CORE across 11 apparel brands, more than 25,000 SKUs and more than 1,250 buyer points.