Q1 2025 Red Cat Holdings Inc Earnings Call Transcript
Key Points
- Red Cat Holdings Inc (RCAT) reported a record Q1 revenue of $2.8 million, marking a 59% year-over-year increase.
- The company successfully delivered final prototypes to the Army for initial operational test and evaluation (IOT&E), showcasing their capability to meet military standards.
- Red Cat Holdings Inc (RCAT) launched a new product line, the Family of Systems, diversifying their offerings and reducing investment risk.
- The company has a record backlog of $13 million, indicating strong future demand.
- Red Cat Holdings Inc (RCAT) secured an additional $8 million in financing, bolstering their financial position.
- Gross margin for the quarter was negative 17%, primarily due to the final delivery of prototypes for the SRR Tranche 2 program.
- The pause in manufacturing Teal 2 units impacted sales as customers awaited the release of Teal 3.
- Cash used in operations for the first quarter was $2.3 million, indicating ongoing cash flow challenges.
- The company is still awaiting news on the SRR production contract, creating uncertainty in future revenue projections.
- The transition to a calendar year reporting system may cause temporary confusion and adjustment challenges.
Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Red Cat Holdings fiscal 2025 first-quarter financial results and corporate update conference call. (Operator Instructions) Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes.
A webcast replay of the call will be available approximately one hour after the end of the call through December 22, 2024. Joining us today from Red Cat Holdings are Jeff Thompson, Chief Executive Officer; and Lee Lunger, Chief Financial Officer.
During this call, management will make forward-looking statements, including statements that address Red Cat's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements.
For more information about these risks, please refer to the risk factors described in Red Cat's most recently filed periodic results on Form 10-K and in Red Cat's press
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
