Red Cat Reports Preliminary Record Revenue 16% Above Guidance for Third Quarter of Fiscal 2024 and Increases Guidance for Fourth Quarter 2024
2024年2月15日 - 4:30AM
Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat'' or the
"Company"), a drone technology company integrating robotic hardware
and software for military, government, and commercial operations,
reports preliminary record revenue for the third quarter of fiscal
2024 (three months ending January 31, 2024) ahead of its quarterly
filing, including:
- Revenue of approximately $5.8
million for fiscal third quarter of 2024, representing a sequential
increase of 49%
- Current backlog of approximately
$5.1M, representing the highest amount in company history
- Revenue guidance of approximately
$7 million in revenue for the fiscal fourth quarter (three months
ending April 30, 2024), representing an anticipated 20% sequential
increase
“We are pleased to report our third consecutive
quarter of significant sequential organic revenue growth,”
commented Jeff Thompson, CEO of Red Cat. “We had record shipments
of the Teal 2 in the third quarter, as our backlog hit a new
company record. We expect fourth quarter to be an exciting and
fruitful quarter after the last 12 months of business development
in NATO countries and Saudi Arabia.”
“Teal’s autonomous, attritable, and open
technology is seeing huge demand in America and around the world,”
said George Matus, CTO of Red Cat. “We develop vertically
integrated products and scale them through volume production in our
brand new factory in Salt Lake City. Red Cat is here to fully
support the warfighter and the paradigm shift actively happening
toward our technology with programs like SRR, Replicator, and
beyond.”
About Red Cat Holdings,
Inc.
Red Cat (Nasdaq: RCAT) is
a drone technology company integrating robotic hardware
and software for military, government, and commercial
operations. Red Cat’s solutions are designed to “Dominate
the Night™” and include the Teal 2, a small unmanned
system offering the highest-resolution thermal imaging in its
class. Learn more at www.redcatholdings.com
Forward-Looking
Statements
This press release contains "forward-looking
statements" that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as "anticipate,"
"believe," "contemplate," "could," "estimate," "expect," "intend,"
"seek," "may," "might," "plan," "potential," "predict," "project,"
"target," "aim," "should," "will," "would," or the negative of
these words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on Red Cat Holdings, Inc.'s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. These and other risks and
uncertainties are described more fully in the section titled "Risk
Factors" in the final prospectus related to the public offering
filed with the Securities and Exchange Commission. Forward-looking
statements contained in this announcement are made as of this date,
and Red Cat Holdings, Inc. undertakes no duty to update such
information except as required under applicable law.
Contacts
NEWS MEDIA: CORE Public RelationsPhone: (516)
222-2560 Email: media@redcat.red
INVESTORS: CORE IR Phone: (516)
222-2560 Email: investors@redcat.red Website: https://www.redcatholdings.com
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