Red Cat Q1 revenue $1.75M; guides Q2 $3M and Q3 $5M; sees $20M run-rate

Red Cat Holdings, Inc.

Fiscal Q1 2024 revenue $1.75M from Enterprise Division (Teal Drones), a record.
Q2 (Oct 31) revenue guidance $3.0M; Q3 (Jan 31) guidance $5.0M; combined ~$10M.
Backlog of ~$6M in signed purchase orders expected to fulfill by end of Q3.
CEO expects $20M annual run-rate in Q3; cites DoD Replicator Initiative as opportunity.
Consumer Division revenue now classified as discontinued operations due to pending asset sale.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Red Cat Holdings, Inc. reported the fiscal second quarter (three months ending October 31, 2023) results: revenue $3.0 million. Guidance initiated.

Period: the fiscal second quarter (three months ending October 31, 2023)
Revenue: $3.0 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Revenue for the fiscal second quarter (three months ending October 31, 2023) is expected to be $3.0 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Red Cat Holdings, Inc. reported the three months ended July 31, 2023 results: revenue $1.75 million. Guidance reaffirmed.

Period: the three months ended July 31, 2023
Revenue: $1.75 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue in the fiscal first quarter for the three months ending July 31, 2023 was $1.75 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Red Cat Holdings, Inc. reported the fiscal third quarter (three months ending January 31, 2024) results: revenue $5.0 million. Guidance initiated.

Period: the fiscal third quarter (three months ending January 31, 2024)
Revenue: $5.0 million
Guidance: initiated
Result: guidance update

Exact text from the filing

and revenue for the fiscal third quarter (three months ending January 31, 2024) is expected to be $5.0 million

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

Red Cat Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001554795-23-000298

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