Red Cat designs and sells drones, FPV video goggles, and inspection software for commercial, government, and consumer markets—think specialized aerial cameras for hard-to-reach places.
Revenue USD 0.04B annually from drone hardware and software sales. Gross margin 5.41% TTM; company burns cash with -161.09% net margin, losing money on every dollar of sales.
No durable moat. Razor-thin gross margins (5.41%) and persistent operating losses signal commodity-like competition from DJI, Auterion, and consumer drone makers. No pricing power, no switching costs, no scale advantage visible.
$RCATRed Cat Holdings, Inc. · Aerospace & Defense · $1.5B
Street Buy · PT $20 (+1.1%)
$9.62
+0.9%
Event thread
Key events, in time order
18 items
RegulationBull
Trump signs drone tariff proclamation, benefiting US drone makers like RCAT
Trump imposes up to 100% tariffs on imported drones and parts to boost US production and national security; RCAT, operating solely in the US, is in focus.
D1 -6.2% · since -7.9%
Earnings
Earnings report
D1 -0.9% · +5d -6.8%
16 earlier events›
Company
Red Cat Announces Multiyear Partnership with Washington Commanders
Partnership supports U.S. military community; covered by multiple outlets and analysts
D1 +8.6% · +5d +4.4%
EarningsBear
RCAT Q2: Revenue and EPS Miss Estimates
Q2 loss of $0.26/share vs. $0.21 expected; wider than year-ago $0.14 loss
D1 +6.2% · +5d +20.8%
›3 waves of this story
2026-08-07 Revenue $20.19M vs $22.79M est; EPS -$0.26 vs -$0.21 est; +527% YoY but GM 16.1%
2026-08-07 Earnings call and Zacks report confirm wider loss; analyst maintains Buy with PT
2026-08-07 Q2 loss of $0.26/share vs. $0.21 expected; wider than year-ago $0.14 loss
Earnings
Earnings report
D1 +0.1% · +5d +18.0%
8-K filing
8-K: Item 2.02, Item 9.01
D1 +0.1% · +5d +18.0%
产品Bull
Red Cat Receives $2.49M U.S. Air Force Order for Black Widow Systems
Teal Drones subsidiary secures firm-fixed-price contract supporting technical and operational assessment of Black Widow as potential Teal 2 successor.
D1 +9.0% · +5d +17.5%
›2 waves of this story
2026-07-30 Order supports assessment of Black Widow as Teal 2 successor, boosting product evolution
2026-07-30 Teal Drones subsidiary secures firm-fixed-price contract supporting technical and operational assessment of Black Widow as potential Teal 2 successor.
CompanyBull
Red Cat Advances SPiDRWORX R&D Strategy
Successful validation event in Salt Lake City, integrating partner tech to expand drone capabilities
D1 -9.1% · +5d +27.9%
8-K filing
8-K: Item 5.02, Item 8.01, Item 9.01
D1 -8.8% · +5d -13.5%
CompanyBull
RCAT Receives U.S. Army Order for AI-Powered Threat Detection Kit
Safe Pro wins U.S. Army order; RCAT linked; delivery expected Q2 2026
D1 +0.7% · +5d -23.1%
CompanyBull
RCAT initiated Buy at Roth/MKM, PT $25
New independent coverage reinforces bullish drone thesis
D1 +32.6% · +5d +4.2%
›4 waves of this story
2026-05-28 Multiple independent sources report Trump admin in talks with US drone firms on financing to boost domestic production.
2026-05-30 Multiple independent X accounts confirm drone stocks strong this week, RCAT attracts capital
2026-05-31 Pentagon in talks for direct equity stakes in drone firms, plus $1.5T defense investment plan, reinforcing sector thesis
2026-06-01 New independent coverage reinforces bullish drone thesis
Facts and opinions separated · All items sourced · Not investment advice
Event thread
Key events, in time order
18 items
RegulationBull
Trump signs drone tariff proclamation, benefiting US drone makers like RCAT
Trump imposes up to 100% tariffs on imported drones and parts to boost US production and national security; RCAT, operating solely in the US, is in focus.
D1 -6.2% · since -7.9%
Earnings
Earnings report
D1 -0.9% · +5d -6.8%
Company
Red Cat Announces Multiyear Partnership with Washington Commanders
Partnership supports U.S. military community; covered by multiple outlets and analysts
D1 +8.6% · +5d +4.4%
EarningsBear
RCAT Q2: Revenue and EPS Miss Estimates
Q2 loss of $0.26/share vs. $0.21 expected; wider than year-ago $0.14 loss
D1 +6.2% · +5d +20.8%
›3 waves of this story
2026-08-07 Revenue $20.19M vs $22.79M est; EPS -$0.26 vs -$0.21 est; +527% YoY but GM 16.1%
2026-08-07 Earnings call and Zacks report confirm wider loss; analyst maintains Buy with PT
2026-08-07 Q2 loss of $0.26/share vs. $0.21 expected; wider than year-ago $0.14 loss
Earnings
Earnings report
D1 +0.1% · +5d +18.0%
13 earlier events›
8-K filing
8-K: Item 2.02, Item 9.01
D1 +0.1% · +5d +18.0%
产品Bull
Red Cat Receives $2.49M U.S. Air Force Order for Black Widow Systems
Teal Drones subsidiary secures firm-fixed-price contract supporting technical and operational assessment of Black Widow as potential Teal 2 successor.
D1 +9.0% · +5d +17.5%
›2 waves of this story
2026-07-30 Order supports assessment of Black Widow as Teal 2 successor, boosting product evolution
2026-07-30 Teal Drones subsidiary secures firm-fixed-price contract supporting technical and operational assessment of Black Widow as potential Teal 2 successor.
CompanyBull
Red Cat Advances SPiDRWORX R&D Strategy
Successful validation event in Salt Lake City, integrating partner tech to expand drone capabilities
D1 -9.1% · +5d +27.9%
8-K filing
8-K: Item 5.02, Item 8.01, Item 9.01
D1 -8.8% · +5d -13.5%
CompanyBull
RCAT Receives U.S. Army Order for AI-Powered Threat Detection Kit
Safe Pro wins U.S. Army order; RCAT linked; delivery expected Q2 2026
D1 +0.7% · +5d -23.1%
CompanyBull
RCAT initiated Buy at Roth/MKM, PT $25
New independent coverage reinforces bullish drone thesis
D1 +32.6% · +5d +4.2%
›4 waves of this story
2026-05-28 Multiple independent sources report Trump admin in talks with US drone firms on financing to boost domestic production.
2026-05-30 Multiple independent X accounts confirm drone stocks strong this week, RCAT attracts capital
2026-05-31 Pentagon in talks for direct equity stakes in drone firms, plus $1.5T defense investment plan, reinforcing sector thesis
2026-06-01 New independent coverage reinforces bullish drone thesis
