Red Cat Q1 FY2024: Enterprise revenue record; Teal 2 sales >$2M; guides Q2 $3M, Q3 $5M revenue

Red Cat Holdings, Inc.

Enterprise segment achieved record quarterly revenues; >70% from US government agencies; $6M backlog.
Teal 2 generated over $2M in first full quarter of sales; DoD Blue UAS approval received.
Consumer segment reported as discontinued ops; sale to Unusual Machines for $3M cash + ~$21M in UM stock expected to close in fiscal Q2.
Revenue guidance: Enterprise segment $3M in Q2 FY2024, $5M in Q3 FY2024.
Inventory of >$11M; additional $3M spending to convert into 1,200 drones representing $18M future revenue.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Red Cat Holdings, Inc. reported fiscal second quarter and third fiscal quarter results: revenue $3 million for our second fiscal quarter and $5 million for our third fiscal quarter. Guidance initiated.

Period: fiscal second quarter and third fiscal quarter
Revenue: $3 million for our second fiscal quarter and $5 million for our third fiscal quarter
Guidance: initiated
Result: guidance update

Exact text from the filing

We are providing revenue guidance for our Enterprise segment of $3 million for our second fiscal quarter and $5 million for our third fiscal quarter

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Red Cat Holdings, Inc. reported financial results for the fiscal quarter ended July 31, 2023.

Period: the fiscal quarter ended July 31, 2023
Result: reported results

Exact text from the filing

Red Cat Holdings, Inc. (the "Company") issued a press release and will hold a conference call regarding its financial results for the quarter ended July 31, 2023.

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Red Cat Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001554795-23-000309

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