Red Cat Holdings, Inc. (RCAT) income statement
NASDAQ · Industrials · Aerospace & Defense · 244 employees · CEO Jeffrey Thompson
- Price
- $4.63 -8.32%
- Market cap
- $707M
- Enterprise value
- $406M
- Last report
- Q2 '27 filed 2026-08-06
Red Cat Holdings, Inc. (RCAT) reported revenue of $20.2M for Q2 '27 (+527.3% year on year), operating income of -$38.6M (-191.4% of revenue) and net income of -$35.3M. Over the last four quarters revenue was –.
Income statement
| Income statement | Trend | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '25 | Q2 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q4 '26 | Q3 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.93M | $5.85M | $6.61M | $2.78M | $1.53M | $1.63M | $3.22M | $9.65M | $1.63M | $26.2M | $15.5M | $20.2M | |
| Cost of revenue | $2.73M | $4.75M | $5.49M | $3.26M | $1.56M | $2.48M | $2.84M | $9.01M | $2.48M | $25.1M | $13.5M | $16.9M | |
| Gross profit | $1.2M | $1.1M | $1.12M | -$483K | -$23.5K | -$850K | $375K | $638K | -$852K | $1.11M | $1.97M | $3.26M | |
| Research & development | $2.22M | $2.13M | $846K | $1.63M | $2.23M | $3.43M | $3.6M | $5.97M | $3.43M | $4.89M | $7.97M | $14.2M | |
| Sales & marketing | $1.03M | $884K | $2.05M | $2.04M | $2.34M | $3.31M | $3.19M | $2.98M | $3.31M | $3.62M | $4.58M | $6.44M | |
| General & administrative | $2.84M | $2.01M | $5.4M | $3.48M | $4.52M | $4.88M | $6.24M | $9.22M | $4.88M | $16.5M | $16.7M | $21.2M | |
| Other operating expenses | $0 | $527K | -$1.13M | $93.1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Operating expenses | $6.09M | $5.55M | $7.16M | $7.24M | $9.09M | $11.6M | $13M | $18.2M | $11.6M | $25.1M | $29.3M | $41.9M | |
| Operating income | -$4.89M | -$4.45M | -$6.04M | -$7.73M | -$9.12M | -$12.5M | -$12.6M | -$17.5M | -$12.5M | -$23.9M | -$27.3M | -$38.6M | |
| Interest income | $0 | $0 | $0 | $24.6K | $14.6K | $54.5K | $155K | $771K | -$2.66M | $1.73M | $1.3M | $1.93M | |
| Interest expense | $19.7K | $15.5K | $12.5K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other non-operating income (gains on investments, FX ...) | $332K | -$274K | -$648K | -$93.1K | $4.22M | $10.6M | $632K | -$2.21M | $10.6M | -$4.03M | $541K | -$3.41M | |
| Total non-operating income | -$352K | $258K | $636K | -$4.69M | -$4.22M | -$10.6M | -$632K | $2.21M | -$10.6M | $4.03M | $754K | $3.41M | |
| Income before tax | -$5.24M | -$4.19M | -$5.41M | -$12.4M | -$13.3M | -$23.1M | -$13.3M | -$15.3M | -$23.1M | -$19.9M | -$26.5M | -$35.2M | |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $695K | -$562 | -$251K | $5K | $23K | |
| Net income | -$5.84M | -$5.49M | -$6.78M | -$12.4M | -$13.3M | -$23.1M | -$13.3M | -$16M | -$23.1M | -$19.7M | -$26.6M | -$35.3M | |
| EPS (basic) | -$0.10 | -$0.10 | -$0.10 | -$0.17 | -$0.17 | -$0.27 | -$0.15 | -$0.16 | -$0.22 | -$0.16 | -$0.22 | -$0.26 | |
| EPS (diluted) | -$0.10 | -$0.10 | -$0.10 | -$0.17 | -$0.17 | -$0.27 | -$0.15 | -$0.16 | -$0.22 | -$0.16 | -$0.22 | -$0.26 | |
| Shares (basic, weighted) | 55.6M | 55.7M | 74.3M | 74.5M | 76.2M | 85.5M | 91.3M | 99.6M | 119M | 119M | 137M | 137M | |
| Shares (diluted, weighted) | 55.6M | 55.7M | 74.3M | 74.5M | 76.2M | 85.5M | 91.3M | 99.6M | 119M | 119M | 137M | 137M | |
| Depreciation & amortization | $339K | $351K | $414K | $474K | $372K | $588K | $523K | $542K | $812K | $611K | $1.47M | $2.28M | |
| EBITDA | -$4.89M | -$3.82M | -$4.98M | -$7.16M | -$13M | -$22.5M | -$12.8M | -$14.8M | -$22.3M | -$19.3M | -$26.4M | -$33M |
| Income statement | Trend | FY15 | FY16 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $204K | $933 | $105K | $404K | $5M | $6.43M | $4.62M | $17.8M | $7.28M | $40.7M | |
| Cost of revenue | $106K | $280 | $352K | $325K | $3.93M | $5.5M | $5.46M | $14.2M | $9.31M | $39.5M | |
| Gross profit | $97.7K | $653 | -$247K | $78.6K | $1.07M | $926K | -$834K | $3.68M | -$2.03M | $1.27M | |
| Research & development | $861K | $994K | $367K | $489K | $516K | $2.61M | $5.86M | $6.29M | $9.92M | $17.9M | |
| Sales & marketing | $0 | $0 | $0 | $0 | $172K | $1.13M | $4.08M | $4.57M | $9.48M | $13.1M | |
| General & administrative | $735K | $1.64M | $385K | $1.22M | $4.67M | $8.84M | $12.7M | $10.7M | $17.2M | $36.9M | |
| Other operating expenses | -$45.2K | $54.9K | $1.23M | $0 | $590K | $1.35M | $2.83M | $17.9K | $140K | $0 | |
| Operating expenses | $1.55M | $2.69M | $1.98M | $1.71M | $5.95M | $13.9M | $25.5M | $21.6M | $36.7M | $67.9M | |
| Operating income | -$1.45M | -$185K | -$2.23M | -$1.63M | -$4.88M | -$13M | -$26.3M | -$17.9M | -$38.8M | -$66.6M | |
| Interest income | $3 | $0 | $10.6K | $0 | $0 | $0 | $0 | $0 | $84.9K | $0 | |
| Interest expense | $10.4K | $376K | $500K | $29.2K | $1.22M | $148K | $122K | $68.6K | $0 | $0 | |
| Other non-operating income (gains on investments, FX ...) | $1.91M | $0 | $0 | -$57.2K | $7.14M | -$1.46M | -$2.83M | -$413K | -$140K | $5.04M | |
| Total non-operating income | -$1.92M | $0 | -$1.09M | $28K | -$8.36M | $1.31M | -$38.8K | -$3.65M | -$26.7M | -$5.04M | |
| Income before tax | -$3.38M | -$185K | -$3.31M | -$1.6M | -$13.2M | -$11.7M | -$26.4M | -$21.5M | -$65.4M | -$71.6M | |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $443K | |
| Net income | -$3.38M | $1.13M | -$751K | -$1.6M | -$13.2M | -$11.7M | -$28.1M | -$24.1M | -$65.4M | -$72.1M | |
| EPS (basic) | -$144.00 | $29.18 | -$2.70 | -$0.12 | -$0.56 | -$0.24 | -$0.49 | -$0.40 | -$0.85 | -$0.60 | |
| EPS (diluted) | -$144.00 | $19.43 | -$2.63 | -$0.12 | -$0.56 | -$0.24 | -$0.49 | -$0.40 | -$0.85 | -$0.60 | |
| Shares (basic, weighted) | 35K | 38.7K | 278K | 13.7M | 23.7M | 48.2M | 53.9M | 60.1M | 77M | 119M | |
| Shares (diluted, weighted) | 35K | 58.1K | 285K | 13.7M | 23.7M | 48.2M | 53.9M | 60.1M | 77M | 119M | |
| Depreciation & amortization | $12.3K | $12.6K | $155K | $0 | $36.8K | $265K | $966K | $1.42M | $2.12M | $2.27M | |
| EBITDA | -$3.35M | $3.11M | -$2.66M | -$1.57M | -$12M | -$11.3M | -$22.5M | -$16M | -$36.5M | -$69.4M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-10-31, 10-Q 2024-07-31, 10-K 2024-04-30
Data as of 2026-11-02