2023-09-11 07:44:30 ET
- Red Cat Holdings ( NASDAQ: RCAT ) achieves record Q1 revenue of $1.75M. This revenue is entirely from the Company’s Enterprise Division and specifically from its Teal Drones subsidiary that sells drones predominantly to the military and other public agencies.
- Q2 revenue is expected to be $3.0M, and Q3 revenue is expected to be $5.0M. The current outlook is supported by ~$6M in signed purchase orders and are expected to be fulfilled by the end of the fiscal Q3.
- The Company anticipates additional purchase orders over the next 45 days given the current seasonally strong period of federal budget activity.
- RCAT +2.7% after hours to $0.9655
- Source: Press Release
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Red Cat Holdings pops after Q1 record revenue