other material
confidence high
sentiment positive
materiality 0.75
Red Cat reports preliminary Q3 FY2024 revenue ~$5.8M, 16% above guidance; Q4 guidance raised to ~$7M
Red Cat Holdings, Inc.
- Preliminary Q3 revenue ~$5.8M, sequential increase of 49% and 16% above prior guidance.
- Current backlog ~$5.1M, highest in company history.
- Q4 FY2024 revenue guidance of ~$7M, representing 20% sequential increase from Q3.
- Record shipments of Teal 2 drone in Q3; demand noted in NATO countries and Saudi Arabia.