Red Cat Holdings Q1 Earnings: Revenue and EPS Below Estimates, Company Highlights ‘Significant Global Demand’ – Red Cat Holdings (NASDAQ:RCAT)

Red Cat Holdings Inc RCAT reported its financial results for the first quarter of fiscal 2025 after the market closed on Monday. Here are the highlights from the quarter.

Q1 earnings: Red Cat reported first-quarter revenue of $2.78 million, missing analyst estimates of $3.85 million. The drone technology company said it had a loss of 17 cents per share in the first quarter, missing analyst estimates of 8 cents per share, according to Benzinga Pro.

Total revenue increased 59% year over year. Red Cat reported a record $13 million in backlog at quarter end. The company ended the quarter with $7.7 million in cash.

“Red Cat continues to see significant global demand and year-over-year growth with a strong pipeline and backlog. This is driven by strong domestic and international adoption and sales across our family of systems, which now includes the Edge 130 Blue,” he said. Jeff ThompsonChairman of the Board and CEO of Red Cat.

“Our guidance for the upcoming calendar year 2025 of $50-55 million will continue our upward trend as we await information on the U.S. Army’s Short-Range Reconnaissance Program and prepare to ramp up production capabilities.”

Highlights of the quarter included the demonstration of drone solutions at numerous defense conferences, the announcement of a new family of small ISR and precision strike systems, the closing of an agreement to purchase the company’s FlightWave assets and the launch of the Red Cat futures initiative.

Red Cat expects calendar year 2025 revenue to be between $50 million and $55 million, excluding government and NATO programs.

Management will hold a conference call to discuss these results at 4:30 p.m. Eastern Time.

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RCAT price action: According to Benzinga Pro, Red Cat Holdings shares were down 11.39% after close on Monday, trading at $2.80 at the time of publication.

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