Red Cat Holdings, Inc. (NASDAQ:RCAT) Q2 2023 Earnings Conference Call December 15, 2022 4:30 PM ET Company Participants Joey Delahoussaye - CoreIR Investor Relations Jeff Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Operator Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Red Cat Holdings Fiscal 2023 Second Quarter Financial Results and Corporate Update Conference call. [Operator Instructions]. Participants of this call are advised that the au ...

Nasdaq: RCAT ● SKYPERSONIC FATSHARK ROTOR RIOT THAT THE AL DRONE PRODUCTS, TECHNOLOGIES, AND SERVICES THE MARKET'S FASTEST GROWING SEGMENTS CORPORATE PRESENTATION – SEPTEMBER 2022 © 2022 RED CAT HOLDINGS, All Rights Reserved DISCLOSURES During the course of this presentation, we may make statements which are considered ''forward- looking statements'' within the meaning of the Private Securities Litigation. Reform Act of 1995, including statements regarding our future performance, goals and growth. Forward-l ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 000-31587 Red Cat Holdings, Inc. (Exact name of Registrant as specified in its charter) Nevada 86-0490034 (State or oth ...

Red Cat Holdings, Inc. (NASDAQ:RCAT) Q1 2023 Earnings Conference Call September 12, 2022 8:30 AM ET Company Participants Joey Delahoussaye - Investor Relations Jeff Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Ashok Kumar - ThinkEquity Kevin Dede - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by. Good morning and welcome to the Red Cat Holdings Fiscal 2023 First Quarter Financial Results and Corporate Update Conference Call. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT For the transition period from ________ to _________ Commission File Number: 000-55585 Red Cat Holdings, Inc. (Exact name of registrant as specified in its charter) Nevada 86-0490034 (State or other jurisdiction of inco ...

Red Cat Holdings, Inc. (NASDAQ:RCAT) Q3 2022 Earnings Conference Call March 17, 2022 5:00 PM ET Company Participants Scott Gordon - Investor Relations Jeff Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Ashok Kumar - ThinkEquity Priyanka Mahajan - ThinkEquity Kevin Dede - H.C. Wainwright Scott Michael - Private Investor Operator Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Red Cat Holdings Fiscal Third Quarter 202 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 000-31587 Red Cat Holdings, Inc. (Exact name of Registrant as specified in its charter) Nevada 86-0490034 ...

Red Cat Holdings Inc. (NASDAQ:RCAT) Q2 2022 Earnings Conference Call December 20, 2021 5:00 PM ET Company Participants Scott Gordon - IR, Core IR Jeffrey Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Kevin Dede - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Red Cat Holdings Fiscal Second Quarter 2022 Financial Results and Corporate Update Conference Call. At this time, all participants ar ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited financial statements for October 31, 2021, show significant asset growth and revenue increases driven by acquisitions, alongside expanded net losses and substantial financing activities [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets dramatically increased to **$93.4 million**, primarily from cash, investments, and goodwill due to acquisitions, with stockholders' equity expanding to **$85.5 million** from stock offerings Consolidated Balance Sheet Highlights (Unaudited) | Account | October 31, 2021 ($) | April 30, 2021 ($) | | :--- | :--- | :--- | | **Total Current Assets** | $64,629,199 | $1,640,010 | | Cash | $11,559,758 | $277,347 | | Investments | $48,122,657 | $— | | Goodwill | $26,029,750 | $8,017,333 | | **Total Assets** | **$93,374,141** | **$11,693,365** | | **Total Current Liabilities** | $5,848,303 | $4,674,070 | | **Total Stockholders' Equity** | **$85,534,571** | **$5,266,295** | [Consolidated Statements Of Operations](index=5&type=section&id=Consolidated%20Statements%20Of%20Operations) Revenues significantly increased for both three and six-month periods due to acquisitions, but net losses widened substantially from increased operating expenses Statement of Operations Summary (Unaudited) | Metric | Three Months Ended Oct 31, 2021 ($) | Three Months Ended Oct 31, 2020 ($) | Six Months Ended Oct 31, 2021 ($) | Six Months Ended Oct 31, 2020 ($) | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $1,863,239 | $427,807 | $3,259,990 | $976,089 | | **Gross Margin** | $152,582 | $99,051 | $254,986 | $201,201 | | **Operating loss** | $(2,760,138) | $(489,891) | $(4,439,750) | $(873,135) | | **Net loss** | **$(2,740,601)** | **$(722,281)** | **$(4,298,373)** | **$(1,105,525)** | | **Loss per share** | $(0.05) | $(0.04) | $(0.10) | $(0.05) | [Condensed Consolidated Cash Flows Statements](index=6&type=section&id=Condensed%20Consolidated%20Cash%20Flows%20Statements) Operating cash outflow increased significantly, while financing activities, primarily from **$70.07 million** in stock issuances, provided substantial cash, resulting in a net cash increase Cash Flow Summary for Six Months Ended October 31 (Unaudited) | Cash Flow Activity | 2021 ($) | 2020 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | $(8,569,098) | $(568,452) | | Net cash provided by investing activities | $24,866 | $— | | Net cash provided by financing activities | $19,825,052 | $811,849 | | **Net increase in Cash** | **$11,282,411** | **$243,397** | - The company received net proceeds of **$70,065,203** from the issuance of common stock during the six months ended October 31, 2021[12](index=12&type=chunk) [Notes to Financial Statements](index=9&type=section&id=Notes%20to%20Financial%20Statements) Notes detail the company's drone subsidiaries, major acquisitions, accounting policies, fair value measurements, debt, and extensive equity transaction details - The company operates through five wholly-owned subsidiaries: Teal Drones, Fat Shark Holdings, Rotor Riot, Skypersonic, and Red Cat Propware, providing a range of products and services to the drone industry[18](index=18&type=chunk) - The company completed several key acquisitions to expand its business, including Skypersonic in May 2021 and Teal Drones in August 2021[26](index=26&type=chunk)[28](index=28&type=chunk) Recent Acquisition Details | Acquired Company | Closing Date | Total Purchase Price ($) | Goodwill Recognized ($) | | :--- | :--- | :--- | :--- | | Skypersonic, Inc. | May 7, 2021 | $2,791,013 | $3,717,919 | | Teal Drones Inc. | August 31, 2021 | $10,011,279 | $14,294,499 | - The company's investments, classified as available-for-sale securities, totaled **$48.1 million** at fair value as of October 31, 2021, primarily consisting of corporate bonds and asset-backed securities[36](index=36&type=chunk)[63](index=63&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Revenue growth from acquisitions was offset by a gross margin decline to **8%** and increased operating expenses, while liquidity improved significantly from **$70.1 million** in public offerings - The company closed two significant public offerings in 2021: an S-1 offering in May raising approximately **$14.6 million** net, and an S-3 offering in July raising approximately **$55.5 million** net[123](index=123&type=chunk)[124](index=124&type=chunk) - The acquisition of Teal Drones on August 31, 2021, is a key strategic development, adding the Golden Eagle drone, approved by the US Department of Defense, to its portfolio[126](index=126&type=chunk) YoY Revenue Comparison (Three Months Ended Oct 31) | Period | Revenue ($) | YoY Increase | Key Drivers | | :--- | :--- | :--- | :--- | | 2021 | $1,863,239 | >100% | Fat Shark ($0.899 million) and Teal ($0.402 million) acquisitions | | 2020 | $427,807 | - | - | - Gross margin percentage decreased from 23% to **8%** for the three months ended October 31, 2021, compared to the prior year, attributed to higher product and shipping costs from COVID-19 impacts[134](index=134&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, the company is exempt from providing quantitative and qualitative market risk disclosures - As a smaller reporting company, Red Cat Holdings, Inc. is not required to provide quantitative and qualitative disclosures about market risk[166](index=166&type=chunk) [Item 4. Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management found disclosure controls ineffective due to untimely financial reporting of certain corporate banking accounts, with no other material changes to internal controls reported - Management identified a weakness in disclosure controls, citing a failure to maintain effective controls for the timely financial reporting of certain corporate banking accounts[167](index=167&type=chunk) - There were no changes in internal controls over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting[168](index=168&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) There are no pending legal proceedings involving the company, its directors, officers, or major shareholders - There are no pending legal proceedings involving the Company[171](index=171&type=chunk) [Item 1A. Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, Red Cat Holdings, Inc. is not required to provide risk factor disclosures in this Form 10-Q - The company is a smaller reporting company and is not required to provide risk factor disclosures in this report[172](index=172&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the reporting period that were not previously disclosed - No unregistered sales of equity securities occurred during the reporting period that were not previously reported[173](index=173&type=chunk) [Item 3. Defaults Upon Senior Securities](index=36&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[174](index=174&type=chunk) [Item 5. Other Information](index=36&type=section&id=Item%205.%20Other%20Information) No other information is reported in this section - None[175](index=175&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including officer certifications required by Sarbanes-Oxley and XBRL data files - Exhibits filed include certifications from the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act of 2002, along with XBRL instance documents[176](index=176&type=chunk)

Red Cat Holdings Inc. (NASDAQ:RCAT) Q1 2022 Earnings Conference Call September 20, 2021 5:00 PM ET Company Participants Scott Gordon - IR, Core IR Jeffrey Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Ashok Kumar - ThinkEquity Spencer Kirschman - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Red Cat Holdings Fiscal First Quarter 2022 Financial Results and Corporate Update Conference Call. ...