secwatch.observer — SEC 8-K summary
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Issuer:     Red Cat Holdings, Inc. (RCAT)
CIK:        0000748268
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001554795-24-000063
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Red Cat reports record Q3 revenue $5.8M (+250% YoY); CFO Hernon retires, Lunger appointed interim CFO
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- Q3 FY2024 revenue $5.8M, up 250% YoY and 49% sequentially; funded backlog $5.1M.
- Sold Consumer segment for 4.25M UMAC shares, $1M cash, and a $2M note.
- Guidance Q4 revenue $7M, another record; focus on Teal Drones and Enterprise segment.
- CFO Joseph Hernon resigns effective March 15, transitions to consultant; Leah Lunger appointed Interim CFO at $230K salary.
- Teal 2 finalist for US Army SRR program with $3M extended contract; received $750K Utah grant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/748268/000155479524000063/0001554795-24-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/748268/000155479524000063/rcat0318form8k.htm
  HTML page:      https://secwatch.observer/filing/0001554795-24-000063

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