Quarterly ResultMay 7, 2026, 04:24 PM
Red Cat Holdings Q1 Revenue $15.47M, Net Loss $26.55M; Acquires Apium
AI Summary
Red Cat Holdings reported a significant increase in Q1 2026 revenue to $15.47 million, up from $1.63 million year-over-year, and achieved a gross profit of $1.97 million. However, the company's net loss widened to $26.55 million, though diluted loss per share improved to $(0.22). The quarter also saw the acquisition of Apium Swarming Technologies for $19.8 million and the announcement of an intent to acquire Quaze Technologies, indicating strategic expansion efforts.
Key Highlights
- Acquired Apium Swarming Technologies for $19.8 million, enhancing unmanned systems capabilities.
- Announced intention to acquire Canadian-based Quaze Technologies, a wireless power solutions company.
- Q1 2026 revenue surged to $15.47 million, up from $1.63 million year-over-year.
- Achieved a gross profit of $1.97 million, compared to a gross loss of $0.85 million in Q1 2025.
- Net loss increased to $26.55 million from $23.12 million in the prior year period.
- Diluted loss per share improved to $(0.22) from $(0.27) year-over-year.
- Cash balance decreased to $131.92 million from $167.87 million quarter-over-quarter.
- Inventory increased to $50.53 million from $23.45 million quarter-over-quarter.