Red Cat Holdings, Inc. (NASDAQ:RCAT) Q2 2024 Earnings Conference Call December 15, 2023 4:30 PM ET Company Participants Joey Delahoussaye - CoreIR Investor Relations Jeffrey Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Ashok Kumar - ThinkEquity LLC James McIlree - Dawson James Securities Operator Ladies and gentlemen, thank you for standing by. Good afternoon, and welcome to the Red Cat Holdings Fiscal Second Quarter 2024 Financial Results and Corpo ...

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 October 31, 2023 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 88-0490034 (State or ...

Financial Data and Key Metrics - Q1 revenue for Teal Drones was $1.75 million, with Q2 guidance of $3 million (71% sequential growth) and Q3 guidance of $5 million (67% sequential growth) [8][16] - The company expects to convert $11 million of inventory into 1,200 drones, generating $18 million in revenue and $15 million in net cash proceeds [36] - The consumer segment reported an operating loss of less than $300,000 in Q1, with revenues near record levels driven by strong growth at Rotor Riot [32] Business Line Performance - The Teal 2 drone, launched in late April, has seen immediate market response, with record sales in Q1 and a backlog of approximately $6 million [34][35] - The consumer segment (Fat Shark and Rotor Riot) is being sold to Unusual Machines for $3 million in cash and $17 million in shares, with an additional $4 million expected from a working capital adjustment [28][29] Market and Regulatory Developments - Regulatory tailwinds, including DJI's placement on the US entity list and the passage of the American Securities Drone Act, have created a significant market opportunity for US-based drone manufacturers [11][13] - The Teal 2 received Remote ID certification from the FAA, a difficult achievement that positions the company as one of the few US manufacturers capable of meeting federal requirements [12] Strategic Direction and Industry Competition - The company is well-positioned for mid-term revenue opportunities through the DoD's Replicator Initiative, which aims to deliver thousands of drones within 18-24 months [17][20] - Long-term revenue opportunities include the Short Range Reconnaissance (SRR) program, which could involve significant contracts for up to 12,000 drones [24][25] - The company's manufacturing facility in Salt Lake City is fully operational and provides a competitive advantage in an industry poised for long-term growth [38][40] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of the Teal 2's success and the company's ability to capitalize on regulatory and market opportunities [8][14] - The company expects to achieve higher gross margins as production scales and unit costs decrease, with potential gross margins reaching up to 70% at full capacity [39][45] Other Important Information - The company is exploring non-dilutive capital options, including inventory conversion, government contracts, and small debt offerings, to fund operations and growth [48] - The sale of the consumer segment is contingent on Unusual Machines completing an IPO, which is expected during the fiscal second quarter [29][30] Q&A Session Summary Question: Will Q3 revenue of $5 million bring the company close to cash flow positive, and is there a need to raise capital? [43] - The company expects $7.4 million to $14.4 million in non-dilutive capital over the next six months, which should be sufficient to reach cash flow positive [48] Question: What are the competitive dynamics in the SRR program and the Border Patrol Program? [43] - The company is competing with Skydio and Vantage Robotics for both the SRR program and the Border Patrol Program, with no new updates at this time [44] Question: What gross margins can be expected at full capacity utilization? [51] - Gross margins could reach up to 70% at full capacity utilization, compared to current margins of around 22% due to underutilized factory capacity [45][53] Question: Are the SRR and Replicator contracts fixed-price or time-and-materials? [55] - Both the SRR and Replicator contracts are fixed-price, allowing for margin improvements as manufacturing efficiency increases [56] Question: Is the $5 million in OpEx a good run rate going forward? [57] - The $5 million in OpEx is expected to remain stable, with potential for leveraging as revenues increase [58]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of Registrant as specified in its charter) Nevada 88-0490034 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) For the transition period from ___________ to ___________ FORM 10-Q Commission File Number: 000-31587 Red Cat Holdings, Inc. ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15( ...

Red Cat Holdings, Inc. (NASDAQ:RCAT) Q4 2023 Earnings Conference Call July 27, 2023 4:30 PM ET Company Participants Joseph Delahoussaye - Vice President of Investor Relations, CORE IR Jeffrey Thompson - President and Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Ashok Kumar - ThinkEquity LLC Carlo Corzine - Dawson James Securities, Inc. Operator Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Red Cat Holdings Fiscal 2023 Year- ...

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, 2023 ☐ 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) (State or other jurisdiction of incorporation or organ ...

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 January 31, 2023 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) (833) 373-3228 (Registrant's ...

Rhythm Pharmaceuticals, Inc. (RYTM) Q3 2023 Earnings Conference Call March 7, 2023 8:30 AM ET Company Participants Scott Gordon - CoreIR Investor Relations Jeff Thompson - Chief Executive Officer Joseph Hernon - Chief Financial Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. Good morning, and welcome to the Red Cat Holdings Fiscal 2023 Third Quarter Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. ...

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 ...

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 October 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) (833) 373-3228 (Registrant's ...