Red Cat Holdings IncRed Cat Holdings Inc
Red Cat Holdings Inc

Red Cat Holdings Inc

RCAT
Information Technology·Technology Hardware, Storage & Peripherals

Red Cat Holdings, Inc. provides products, services and solutions to the drone industry. It also engages in the provision of distributed data storage, analytics and services for the drone industry.The firm product include Dronebox, which is a blockchain technology that records, stores and analyzes flight data and information from a drone. It operates through the Enterprise Segment. The Enterprise Segment will focus on developing a hardware enabled software platform of services and solutions to government and commercial enterprises and the military. The company was founded by Jeffrey M. Thompson in February 1984 and is headquartered in San Juan, Puerto Rico.

Puerto Rico
Market cap
No dataNo data
Revenue
$40.7MNo data
Net income
$-72.1MNo data
Free cash flow
$-16MNo data

Market

Listed stock
Tokenized stocks
RCATPriceNasdaq
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Financial performance

Revenue
$40.7MNo data
Operating income
$-66.6MNo data
Net income
$-72.1MNo data
Free cash flow
$-16MNo data

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $5M, 2022 $6.4M, 2023 $9.9M, 2024 $17.8M, 2025 $40.7M. Operating income: 2021 $-4.9M, 2022 $-13.1M, 2023 $-28.1M, 2024 $-21.5M, 2025 $-66.6M. Net income: 2021 $-13.2M, 2022 $-11.7M, 2023 $-27.1M, 2024 $-24.1M, 2025 $-72.1M. Free cash flow: 2021 $-1.4M, 2022 $-16.4M, 2023 $-31.6M, 2024 $-4M, 2025 $-16M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
128.3%No data
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-04-30 $-4.9M, 2022-04-30 $-13.1M, 2023-04-30 $-28.1M, 2024-04-30 $-21.5M, 2025-12-31 $-66.6M. Net income: 2021-04-30 $-13.2M, 2022-04-30 $-11.7M, 2023-04-30 $-27.1M, 2024-04-30 $-24.1M, 2025-12-31 $-72.1M. Free cash flow: 2021-04-30 $-1.4M, 2022-04-30 $-16.4M, 2023-04-30 $-31.6M, 2024-04-30 $-4M, 2025-12-31 $-16M

Growth heatmap

2022202320242025CAGR
Revenue
+28.6%
+54.2%
+80.0%
+128.3%
No data
Gross profit
-13.5%
-136.4%
+1192.8%
-65.4%
No data
Operating income
-167.2%
-115.2%
+23.5%
-209.4%
No data
Free cash flow
-1071.1%
-93.2%
+87.3%
-299.7%
No data

Earnings quality

Operating cash flow
$-9.4MNo data
Net income
$-72.1MNo data
Free cash flow
$-16MNo data
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 13%, 2024-04-30 16%, 2023-04-30 108%, 2022-04-30 137%, 2021-04-30 11%. Free cash flow: 2025-12-31 22%, 2024-04-30 17%, 2023-04-30 117%, 2022-04-30 140%, 2021-04-30 11%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
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No data
No data