Short answer
Red Cat Holdings, Inc. (RCAT) filed its Q1 2026 10-Q quarterly report on May 7, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $15M with net income of −$27M.
Q1 2026 key financials · XBRL
- Revenue
- $15M
- Net income
- −$27M
- −14.8% YoY
- Operating margin
- -176.5%
- Gross margin
- 12.7%
- EPS (diluted)
- −$0.22
- +18.5% YoY
Source: XBRL data from the Red Cat Holdings, Inc. (RCAT) Q1 2026 10-Q on SEC EDGAR. USD.
Red Cat Holdings, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $15.5M vs $1.6M YoY, up 849%, driven by U.S. Army SRR deliveries
- Gross margin 13% vs negative 52% YoY, with gross profit $2.0M vs gross loss $0.8M
- Operating expenses $29.3M vs $11.6M YoY, up 152%, led by G&A $16.7M
- Cash $131.9M at March 31; operating cash flow used $31.9M and investing cash flow used $6.8M
- Near-term outlook centered on scaling SRR deliveries; headwinds included inventory purchases and expanded operating expenses
Risk Factors
- New litigation risk: May 2025 securities class action and derivative suits alleging misleading statements on Salt Lake City capacity and SRR contract value
- New regulatory risk: Quaze acquisition requires Investment Canada Act clearance, which may delay or prevent closing
- Acquisition risk: Failed or delayed Quaze closing could cause transaction costs and eliminate anticipated strategic benefits
- Legal exposure: Pending lawsuits could produce significant liabilities despite management’s current non-materiality assessment
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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