secwatch.observer — SEC 8-K summary
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Issuer:     Red Cat Holdings, Inc. (RCAT)
CIK:        0000748268
Form:       8-K
Filed at:   2023-09-15T23:59:59+00:00
Accession:  0001554795-23-000298
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/748268/000155479523000298/0001554795-23-000298-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/748268/000155479523000298/rcat0915form8k.htm
  HTML page:      https://secwatch.observer/filing/0001554795-23-000298

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer