---
schema_version: "secwatch.filing_event.v1"
accession: "0001554795-23-000309"
form_type: "8-K"
ticker: "RCAT"
cik: "0000748268"
company_name: "Red Cat Holdings, Inc."
filed_at: "2023-09-21T23:59:59+00:00"
generated_at: "2026-06-10T11:28:47.401053+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "medium"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001554795-23-000309
- form_type: 8-K
- ticker: RCAT
- cik: 0000748268
- company_name: Red Cat Holdings, Inc.
- filed_at: 2023-09-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: medium
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/748268/000155479523000309/0001554795-23-000309-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/748268/000155479523000309/rcat0920form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001554795-23-000309
- JSON: https://secwatch.observer/filing/0001554795-23-000309.json
- Plain text: https://secwatch.observer/filing/0001554795-23-000309.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/748268/000155479523000309/0001554795-23-000309-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/748268/000155479523000309/0001554795-23-000309-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.