Red Cat Holdings, Inc. completed an acquisition involving Quaze Technologies Inc. for approximately $21 million of Closing Shares based on the twenty (20) day volume-weighted price of the Common Stock on The Nasdaq Capital Market as of May 18, 20 (closed 2026-05-19).
“consideration consisting of 1,923,308 shares (the “Closing Shares”) of the Company’s common stock, par value $0.001 per share (“Common Stock”), which represents approximately $21 million of Closing Shares based on the twenty (20) day volume-weighted price of the Common Stock on The Nasdaq Capital Market as of May 18, 2026. The closing consideration”
Earnings Releases
Red Cat Holdings, Inc. reported the quarter ended March 31, 2026 results: revenue $15.5 million.
“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”
Material Agreements
Red Cat Holdings, Inc. entered into Share Purchase Agreement with 9563-4747 Quebec Inc. and the equity holders of Quaze Technologies Inc. valued at approximately $25,000,000 in shares of Company common stock as closing consideration, plus up to an (effective 2026-03-30).
“On March 30, 2026, Red Cat Holdings, Inc. (the “Company”), a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security, entered into a Share Purchase Agreement (the “Purchase Agreement”) with 9563-4747 Quebec Inc., a corporation formed under the laws of Quebec and a direct wholly-owned subsidiary of the Company (the “Purchaser”), the equity holders (the “Vendors”) of Quaze Technologies Inc., a corporation formed under the laws of Quebec (“Quaze”), and the Vendors’ Representative.”
Auditor Changes
Red Cat Holdings, Inc. engaged KPMG LLP as its auditor.
“ppointment of New Independent Registered Public Accounting Firm. On August 28, 2025, the Audit Committee approved the engagement of KPMG LLP (“KPMG”) as its new independent registered public accounting firm for the fiscal year ending December 31, 2025.”
Auditor Changes
Red Cat Holdings, Inc. dismissed dbbmckennon LLC as its auditor.
“ismissal of Independent Registered Public Accounting Firm On August 28, 2025, the Audit Committee of the Board of Directors of Red Cat Holdings, Inc. approved the decision to change its independent registered public accounting firm and dismissed dbbmckennon LLC (“dbbmckennon”) as its independent registered public accounting”
Christian Koji Ericson was appointed as Chief Financial Officer at Red Cat Holdings, Inc..
“On March 11, 2025, the Company appointed Christian Koji Ericson as the Company’s Chief Financial Officer, effective immediately after the filing of the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2024.”
Jeffrey Thompson was appointed as Interim Chief Financial Officer at Red Cat Holdings, Inc..
“appointed Jeffrey Thompson, the Company’s Chief Executive Officer and Chairman of the Board of Directors, as Interim Chief Financial Officer, effective from March 17, 2025”
Geoffrey Hitchcock was appointed as Chief Revenue Officer at Red Cat Holdings, Inc..
“On November 27, 2024, we appointed Geoffrey Hitchcock as our new Chief Revenue Officer.”
George Matus departed as Chief Technology Officer at Red Cat Holdings, Inc..
“On November 25, 2024, George Matus, our Chief Technology Officer and CEO of our subsidiary, Teal Drones, Inc., gave notice that he will be leaving his position in thirty (30) days.”
Paul Funk, II was appointed as Chair, Nominating and Governance Committee at Red Cat Holdings, Inc..
“Paul Funk, II (3) Chair, Nominating and Governance Committee”
Auditor Changes
Red Cat Holdings, Inc. dismissed BF Borgers CPA PC as its auditor.
“In light of the Order, effective as of May 6, 2024, the Company's audit committee unanimously approved the decision to dismiss BF Borgers as the Company's independent registered public accounting firm.”
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