---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-032088"
form_type: "8-K"
ticker: "RCAT"
cik: "0000748268"
company_name: "Red Cat Holdings, Inc."
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T22:18:23.393604+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Red Cat Q1 revenue $15.5M (+849% YoY); gross margin 12.7% vs (52.1)%

## Summary
- Revenue of $15.5M, up 849% YoY from $1.6M; gross profit $2.0M vs loss of $0.8M prior year.
- Gross margin 12.7%, a 64.8 percentage point improvement YoY and a 199% sequential increase from Q4 2025.
- Secured Black Widow drone orders from NATO and Asia-Pacific allies; partnership with Ukraine's Spetstechnoexport.
- Acquired Apium Swarm Robotics; definitive agreement to acquire Quaze Technologies (pending Investment Canada Act clearance).
- Management targets annual revenue of $150M-$180M in short- to medium-term; cash $131.9M.

## SEC filing metadata
- accession: 0001628280-26-032088
- form_type: 8-K
- ticker: RCAT
- cik: 0000748268
- company_name: Red Cat Holdings, Inc.
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/748268/000162828026032088/0001628280-26-032088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/748268/000162828026032088/rcat-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-032088
- JSON: https://secwatch.observer/filing/0001628280-26-032088.json
- Plain text: https://secwatch.observer/filing/0001628280-26-032088.txt

## Source-grounded claims
- claim_id: 659faf77935e5732735c633b4e43dfd76708c95b
  claim: Red Cat Holdings, Inc. reported the quarter ended March 31, 2026 results: revenue $15.5 million.
  evidence_excerpt: solutions for defense and national security, reports its financial results for the quarter ended March 31, 2026. First Quarter 2026 Financial Highlights Total revenue was $15.5 million, representing an increase of 849% from $1.6 million for the prior year quarter. Gross profit was $2.0 million, representing an increase of $2.8 million from the prior year
  evidence_url: https://www.sec.gov/Archives/edgar/data/748268/000162828026032088/0001628280-26-032088-index.htm

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