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Discontinued — last reported Q2 '26

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Other financials

Income statement

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Revenue$20.2M+527%
Operating income-$38.6M-206%
Net income-$35.3M-166%
EPS (diluted)-$0.26-73.3%

Balance sheet

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Cash & equivalents$325.6M+394%
Total debt$15.8M-28.1%
Total equity$471.2M+393%
Total assets$527.5M+335%

Cash flow

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Operating cash flow-$46.8M-263%
CapEx$5.8M+1,781%
Free cash flow-$52.6M-298%

Valuation

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Market cap$1.32B+41.4%
Enterprise value$1.01B+13.6%
P/S18.4×-83.4×

Profitability

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Gross margin9.7%+5.4pp
Operating margin-150.2%-65.2pp
Net margin-136.3%-63.2pp
FCF margin-220.4%-84.0pp

Returns & leverage

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Return on equity-34.4%-14.6pp
Debt / equity-0.2×
Current ratio14.9×+11.1×

Where this comes from

Calculated from Red Cat Holdings, Inc.’s reported figures.

The source filing: Red Cat Holdings, Inc.’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:27 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054368
Line itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Revenues$20,189$3,219$35,660$4,848
Cost of goods sold16,9292,84430,4355,324
Gross profit (loss)3,2603755,225(476)
Operating Expenses
Research and development14,2193,59822,1917,031
Sales and marketing6,4393,18811,0166,502
General and administrative21,2476,23637,96411,116
Total operating expenses41,90513,02271,17124,649

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Red Cat Holdings, Inc.'s gross profit?
Red Cat Holdings, Inc. (RCAT) reported gross profit of $3.26M in Q2 2026.
How has Red Cat Holdings, Inc.'s gross profit changed year-over-year?
Red Cat Holdings, Inc.'s gross profit increased by 770.3% year-over-year, from $374.58K to $3.26M.
What is the long-term trend for Red Cat Holdings, Inc.'s gross profit?
Over 4 years (2021 to 2025), Red Cat Holdings, Inc.'s gross profit has grown at a 4.5% compound annual growth rate (CAGR), from $1.07M to $1.27M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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