Red Cat Holdings Inc
redcat.redWhat Do They Do?
Builds and sells tactical drones and uncrewed surface vessels, with related hardware and software, for defense, government and public-safety customers.
10-K for FY2025, filed Mar 19, 2026We are a U.S.-based provider of advanced all-domain drone and robotic solutions for defense, national security, and commercial…View ↗
Teal designs and manufactures small, tactical unmanned aircraft systems for defense and public safety customers. In July 2025, Teal Drones…View ↗
FlightWave develops and produces long-endurance, vertical takeoff and landing ("VTOL") fixed-wing unmanned aircraft systems designed for…View ↗
In August 2025, we announced the launch of our newest division, Blue Ops, Inc., focused on developing a family of battle-tested USV weapons…View ↗
How Do They Make Money?
Customers pay for drones and prototypes, with sales counted when they ship; they also pay for engineering, training and customer support as those services are completed.
10-K for FY2025, filed Mar 19, 2026The Company recognizes revenue in accordance with ASC Topic 606 - Revenue from Contracts with Customers, issued by the Financial Accounting…View ↗
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10-K for FY2025, filed Mar 19, 2026
FY2025 revenue by product or service ↗
$40.7M
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10-K for FY2025, filed Mar 19, 2026
$40.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Contract related
|
7.0% |
Contract related, FY2025
$2.9M Sources
|
|
|
Product related
Sold outright
10-K for FY2025, filed Mar 19, 2026 |
93% |
Product related, FY2025
$37.9M Sources
|
Sold outright |
Who Are Their Customers?
Sales efforts focus on U.S. federal military agencies and foreign government and military clients; the company also makes drones for public-safety users.
10-K for FY2025, filed Mar 19, 2026
10-K for FY2025, filed Mar 19, 2026
For the year ended December 31, 2025, one customer accounted for equal to or greater than 10% of total revenue, totaling 73%. For the eight…View ↗
Do Revenues Turn Into Profits?
No. It lost $72.1M in FY2025.
10-K for FY2025, filed Mar 19, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$35.3MView ↗
- ▲ +166% (Loss)
- vs −$13.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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May 20, 2026
Completed acquisition of Quaze Technologies
Quaze develops wireless power transfer technology for unmanned systems, drones and autonomous machines.
Sources
8-K, filed May 20, 2026
On May 19, 2026 (the “Closing Date”), Red Cat Holdings, Inc. (the “Company”), a U.S.-based provider of advanced all-domain drone and…View ↗
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Mar 31, 2026
Announced acquisition of Apium businesses
The businesses develop distributed autonomy for unmanned systems.
Sources
8-K, filed Mar 31, 2026
On March 30, 2026, Red Cat Holdings, Inc. (the “Company”), a U.S.-based provider of advanced all-domain drone and robotic solutions for…View ↗
From consumer products to tactical systems
The older report described consumer drone retail, FPV electronics and a remote-flying software-and-services platform alongside enterprise drones. The latest report focuses on tactical aircraft for defense and public safety and includes uncrewed surface vessels.
10-K for FY2022, filed Jul 27, 2022 10-K for FY2025, filed Mar 19, 2026In January 2020, we acquired Rotor Riot, LLC, a reseller of drones and related parts, primarily to the consumer marketplace through its…View ↗
In November 2020, the Company acquired Fat Shark Holdings, which sells consumer electronics products to the first-person view (“FPV”)…View ↗
During the second half of the fiscal year ending on April 30, 2022, the Company focused on integrating and organizing its acquired…View ↗
Teal designs and manufactures small, tactical unmanned aircraft systems for defense and public safety customers. In July 2025, Teal Drones…View ↗
FlightWave develops and produces long-endurance, vertical takeoff and landing ("VTOL") fixed-wing unmanned aircraft systems designed for…View ↗
In August 2025, we announced the launch of our newest division, Blue Ops, Inc., focused on developing a family of battle-tested USV weapons…View ↗
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