Red Cat (US:RCAT) Globenewswire·2025-11-13 21:05Core Insights - Red Cat Holdings reported record-breaking third quarter revenue of $9.6 million, reflecting a 646% year-over-year growth and a 200% increase from the previous quarter, surpassing consensus expectations [5] - The company has expanded its contract with the U.S. Army's SRR UAS Tranche 2 program, now valued at approximately $35 million, indicating strong demand for its specialized drone solutions [5] - Red Cat's financial performance demonstrates operational leverage, with a quarter-end cash and receivables totaling $212.5 million, alongside $30.6 million in inventory, positioning the company for future growth [3][5] Business and Financial Highlights - The company has launched a new Maritime Division, Blue Ops, aimed at developing uncrewed surface vessel (USV) systems, and has opened a 155,000 square foot facility in Georgia with a manufacturing capacity exceeding 500 vessels per year [5][6] - Red Cat's annual revenue guidance for 2025 has been updated to between $34.5 million and $37.5 million, with Q4 revenue expected to be between $20 million and $23 million [5] - The company has successfully completed flight testing of Palantir Technologies' Visual Navigation software on its Black Widow™ drone platform, enhancing operational capabilities in GPS-denied environments [6] Strategic Developments - Red Cat has partnered with Hodgdon Shipbuilding to produce the first five USV prototypes, with deliveries expected to begin in Q4 [6] - The FANG™ FPV Drone system has been added to the Department of War's Blue UAS Cleared List, confirming its compliance with cybersecurity and operational requirements for U.S. government use [6] - A strategic partnership with AeroVironment has been established to enable the deployment of the FANG™ FPV drone from AV's P550™ UAS, enhancing multi-domain drone capabilities [6]