olivLaw · US equity research
Red Cat Holdings, Inc. RCAT
Services-Prepackaged Software · SIC 7372 · Vertical: Services-Prepackaged Software (SIC 7372)
Red Cat Holdings develops drone and uncrewed robotic systems for defense, national security and civil uses across air, land and sea. The company grew revenue from 40.7 million USD in 2025 to 20.2 million USD in the second quarter of 2026 alone, placing it in a fast-expanding sector.
At the close of 04 Nov 2026, Red Cat Holdings, Inc. (RCAT) stock was 4.00 USD (−10.31% on the day), with market capitalisation 610.9 m USD, beta 2.90, 52-week range 4.00–17.36 USD. Latest reported quarter (Q2 2026): revenue of 20.2 m USD (+527.3% YoY), net income of -35.3 m USD, diluted EPS -0.26 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 26.3
- oversold (≤ 30)
- Bollinger (20, 2)
- 3.87 – 5.73
- in the lower half of the band · %B 0.07 · band width 38.7%
- SMA 50 / 200
- 6.38 / 10.35
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.57 / -0.62
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −37.0% | −1.1% | −35.9 pp | — |
| 3 months | −53.8% | −0.5% | −53.4 pp | — |
| 6 months | −62.3% | +4.4% | −66.7 pp | — |
| Year to date | −49.6% | +12.3% | −61.9 pp | — |
| 1 year | −57.8% | +13.5% | −71.3 pp | −0.7% |
| 3 years | +332.4% | +76.4% | +256.0 pp | +23.7% |
| 5 years | +47.1% | +63.7% | −16.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.8 m | 6.3 m | 1.6 m | 3.2 m | 9.6 m | 26.2 m | 15.5 m | 20.2 m |
| Cost of revenue | 4.7 m | 5.1 m | 2.5 m | 2.8 m | 9.0 m | 25.1 m | 13.5 m | 16.9 m |
| Gross profit | 1.1 m | 1.2 m | -850.0 k | 375.0 k | 637.5 k | 1.1 m | 2.0 m | 3.3 m |
| Research & development | 2.1 m | 1.0 m | 3.4 m | 3.6 m | 6.0 m | 4.9 m | 8.0 m | 14.2 m |
| Operating income | -4.4 m | -5.3 m | -12.5 m | -12.6 m | -17.5 m | -23.9 m | -27.3 m | -38.6 m |
| Depreciation & amortisation | — | — | 588.0 k | 522.0 k ≈ | — | — | 812.0 k | 1.5 m ≈ |
| Interest expense | 15.5 k | 11.5 k | — | — | — | — | — | — |
| Pre-tax income | — | — | -23.1 m | -13.3 m | -15.3 m | -19.9 m | -26.5 m | -35.2 m |
| Income tax | — | — | 0 | 0 | 694.6 k | -251.6 k | 5.0 k | 23.0 k |
| Net income | -5.5 m | -7.1 m | -23.1 m | -13.3 m | -16.0 m | -19.7 m | -26.6 m | -35.3 m |
| Diluted EPS | — | — | -0.27 | -0.15 | -0.16 | -0.16 ≈ | -0.22 | -0.26 |
| Operating cash flow | -4.1 m ≈ | — | -15.9 m | -12.9 m ≈ | — | — | -31.9 m | -46.8 m ≈ |
| Capex | 44.7 k ≈ | 74.5 k | 273.0 k | 307.0 k ≈ | 669.2 k ≈ | 5.4 m | 6.8 m | 5.8 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 105.1 k | unavailable | 403.9 k | 5.0 m | 6.4 m | 4.6 m | 17.8 m | 40.7 m |
| Revenue YoY | +11,167.8% | unavailable | unavailable | +1,137.7% | +28.6% | −28.1% | +286.0% | +128.3% |
| Net income | -2.6 m | -751.3 k | -1.6 m | -13.2 m | -11.7 m | -28.1 m | -24.1 m | -72.1 m |
| Net income YoY | −334.2% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.02 | unavailable | unavailable | unavailable | unavailable | -0.52 | -0.40 | -0.73 |
| Diluted EPS YoY | −150.0% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -2,514.4% | unavailable | -396.6% | -264.7% | -181.8% | -608.3% | -134.9% | -177.0% |
| Free cash flow | -1.9 m | unavailable | unavailable | unavailable | -16.4 m | -31.6 m | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- unavailable USD
- Financial debt
- 350.0 k USD
- Net debt
- unavailable USD
- Equity
- 245.8 m USD
- Total assets
- 273.7 m USD
- Debt / equity
- 0.00x
- Current ratio
- 15.29x
- ROE
- -49.8%
- ROA
- -44.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 403.9 k | 5.0 m | 6.4 m | 4.6 m | 17.8 m | 40.7 m | SEC (XBRL)· 19 Mar 2026verified |
| Cost of revenue | 325.4 k | 3.9 m | 5.5 m | 5.5 m | 14.2 m | 39.5 m | SEC (XBRL)· 19 Mar 2026verified |
| Gross profit | 78.6 k | 1.1 m | 925.5 k | -834.3 k | 3.7 m | 1.3 m | SEC (XBRL)· 19 Mar 2026verified |
| Research & development | 489.0 k | 516.1 k | 2.6 m | 5.9 m | 6.3 m | 17.9 m | SEC (XBRL)· 19 Mar 2026verified |
| Operating income | -1.7 m | — | — | -26.3 m | -19.3 m | -66.6 m | SEC (XBRL)· 19 Mar 2026verified |
| Depreciation & amortisation | — | — | — | — | 1.4 m | 2.3 m | SEC (XBRL)· 19 Mar 2026verified |
| EBITDA | — | — | — | — | -17.9 m ≈ | -64.3 m ≈ | SEC (XBRL)· 19 Mar 2026derived |
| Interest expense | 29.2 k | 1.2 m | 147.7 k | 122.0 k | 68.6 k | — | SEC (XBRL)· 08 Aug 2024verified |
| Pre-tax income | — | — | — | — | -21.5 m | -71.6 m | SEC (XBRL)· 19 Mar 2026verified |
| Income tax | — | — | — | — | 0 | 443.0 k | SEC (XBRL)· 19 Mar 2026verified |
| Net income | -1.6 m | -13.2 m | -11.7 m | -28.1 m | -24.1 m | -72.1 m | SEC (XBRL)· 19 Mar 2026verified |
| Diluted EPS | — | — | — | -0.52 | -0.40 | -0.73 | SEC (XBRL)· 19 Mar 2026verified |
| Weighted average diluted shares | — | — | — | 53.9 m | 60.1 m | 99.0 m | SEC (XBRL)· 19 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 236.7 k | 277.3 k | 4.1 m | 3.2 m | 6.1 m | — | SEC (XBRL)· 08 Aug 2024verified |
| Receivables | — | 321.7 k | 495.5 k | 719.9 k | 4.4 m | 26.2 m | SEC (XBRL)· 19 Mar 2026verified |
| Inventories | 78.7 k | 362.1 k | 3.9 m | 8.9 m | 8.0 m | 23.5 m | SEC (XBRL)· 19 Mar 2026verified |
| Current assets | 318.3 k | 1.6 m | 55.7 m | 32.2 m | 22.4 m | 226.9 m | SEC (XBRL)· 19 Mar 2026verified |
| Property, plant & equipment, net | — | — | 511.7 k | 2.7 m | 2.3 m | 7.8 m | SEC (XBRL)· 19 Mar 2026verified |
| Goodwill | 2.5 m | 8.0 m | 25.1 m | 17.0 m | 9.1 m | 17.7 m | SEC (XBRL)· 19 Mar 2026verified |
| Intangibles (excl. goodwill) | 20.0 k | 2.0 m | 2.7 m | 6.9 m | 3.8 m | 6.9 m | SEC (XBRL)· 19 Mar 2026verified |
| Total assets | 2.8 m | 11.7 m | 85.1 m | 60.7 m | 48.5 m | 273.7 m | SEC (XBRL)· 19 Mar 2026verified |
| Accounts payable | 249.1 k | 541.9 k | 1.0 m | 1.4 m | 1.6 m | 3.6 m | SEC (XBRL)· 19 Mar 2026verified |
| Short-term debt | — | 269.0 k | 956.9 k | 922.1 k | 751.6 k | 350.0 k | SEC (XBRL)· 19 Mar 2026verified |
| Long-term debt | — | — | 973.7 k | 401.6 k | — | — | SEC (XBRL)· 27 Jul 2023verified |
| Current liabilities | 829.3 k | 4.7 m | 5.4 m | 4.1 m | 3.7 m | 14.8 m | SEC (XBRL)· 19 Mar 2026verified |
| Total liabilities | — | — | — | 6.0 m | 5.0 m | 27.8 m | SEC (XBRL)· 19 Mar 2026verified |
| Equity | 1.5 m † | 5.3 m † | 79.1 m † | 54.8 m † | 43.6 m † | 245.8 m † | SEC (XBRL)· 19 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -811.6 k | -1.4 m | -16.0 m | -29.2 m | — | — | SEC (XBRL)· 27 Jul 2023verified |
| Capex | — | — | 363.7 k | 2.5 m | 259.0 k | 6.6 m | SEC (XBRL)· 19 Mar 2026verified |
| Free cash flow | — | — | -16.4 m ≈ | -31.6 m ≈ | — | — | SEC (XBRL)· 27 Jul 2023derived |
| Investing cash flow | 46.3 k | -48.4 k | -46.6 m | 29.6 m | — | — | SEC (XBRL)· 27 Jul 2023verified |
| Financing cash flow | 498.5 k | 1.5 m | 66.4 m | -1.2 m | — | — | SEC (XBRL)· 27 Jul 2023verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 51.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 610.9 m USD
Key indicators
Coverage and freshness
Score by group
51% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 51.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 9.7% | 0 (on a fixed band) | 21% |
| EBIT margin · Quality | -150.2% | 8 (vs peers) | 17% |
| FCF margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 85.0% | 100 (on a fixed band) | 33% |
| Revenue growth (YoY) · Growth | 128.3% | 97 (vs peers) | 17% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 14.9x | 100 (on a fixed band) | 13% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth99/100 · 2/2 factors with a value
- Quality4/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partialunavailable · 0/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Red Cat Holdings, Inc. (RCAT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 40.7 m USD in 2025; YoY growth 128.3%; net margin -136.3%; ROE -34.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 51.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 85.0%
- Revenue growth (YoY): 128.3%
- Current ratio: 14.9x
What contradicts it
- Gross margin: 9.7%
- EBIT margin: -150.2%
Not assessed (insufficient data or a ratio without meaning): FCF margin, Net debt / EBITDA, EV/Sales, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Services-Prepackaged Software (SIC 7372) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MSFTMicrosoft Corporation | 4,127.5 bn | 29.0 | 34.2% | 41.2% | +17.8% | +13% / +47% |
| PLTRPalantir Technologies Inc. | 413.7 bn | 120.4 | 41.2% | 50.3% | +56.2% | +2% / +756% |
| ORCLOracle Corporation | 374.1 bn | 19.3 | 41.6% | 26.4% | +17.3% | −39% / +6% |
| CRWDCrowdStrike Holdings, Inc. | 246.8 bn | 1,120.4 | 1.3% | 1.1% | +21.7% | +89% / +307% |
| CRMSalesforce, Inc. | 186.9 bn | 20.7 | 19.4% | 22.0% | +9.6% | −1% / −10% |
| NOWServicenow, Inc. | 112.9 bn | 78.1 | 11.8% | 9.4% | +20.9% | −33% / −21% |
| SNOWSnowflake Inc. | 102.5 bn | — | -48.2% | -20.1% | +29.2% | +16% / +55% |
| ADBEAdobe Inc. | 96.7 bn | 13.9 | 61.9% | 28.0% | +10.5% | −22% / −59% |
| INTUIntuit Inc. | 95.3 bn | 21.7 | 23.6% | 21.3% | +13.9% | −44% / −38% |
| CDNSCadence Design Systems, Inc. | 90.4 bn | 65.5 | 22.9% | 22.5% | +14.1% | +6% / +21% |
| SNPSSynopsys Inc | 88.7 bn | 81.8 | 3.7% | 11.4% | +15.1% | +11% / −15% |
| ADSKAutodesk, Inc. | 56.4 bn | 35.0 | 53.9% | 21.1% | +17.5% | −11% / +24% |
| VEEVVeeva Systems Inc. | 50.3 bn | 50.8 | 14.4% | 29.3% | +16.3% | +29% / +78% |
| TTWOTake-Two Interactive Software, Inc. | 39.1 bn | — | -9.0% | -4.8% | +18.2% | −15% / +32% |
| RBLXRoblox Corporation | 35.3 bn | — | -478.2% | -16.5% | +35.8% | −48% / +25% |
| TWLOTwilio Inc. | 33.0 bn | 26.8 | 14.9% | 21.8% | +13.7% | +65% / +230% |
| MDBMongodb, Inc. | 26.5 bn | 449.1 | 2.0% | 2.1% | +22.8% | −1% / −21% |
| PTCPTC Inc. | 21.2 bn | 19.0 | 35.1% | 41.4% | +19.2% | +11% / +24% |
| UUnity Software Inc. | 18.7 bn | — | -18.9% | -29.0% | +2.0% | −0% / +44% |
| SSNCSs&C Technologies Holdings, Inc. | 18.7 bn | 22.9 | 12.7% | 13.2% | +6.6% | −7% / +41% |
| NTNXNutanix, Inc. | 17.2 bn | 12.3 | 37,460.2% | 52.8% | +12.4% | +33% / +48% |
| TYLTyler Technologies, Inc. | 16.8 bn | 53.3 | 10.5% | 13.5% | +9.1% | −10% / +4% |
| DOCUDocusign, Inc. | 15.0 bn | 49.1 | 17.8% | 9.8% | +8.2% | +16% / +87% |
| GWREGuidewire Software, Inc. | 14.0 bn | 104.7 | 10.5% | 9.4% | +22.7% | −21% / +71% |
| DTDynatrace, Inc. | 13.4 bn | 87.0 | 6.4% | 7.4% | +18.8% | +5% / −13% |
1- and 3-year price returns: for RCAT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Red Cat Holdings develops drone and uncrewed robotic systems for defense, national security and civil uses across air, land and sea. The company grew revenue from 40.7 million USD in 2025 to 20.2 million USD in the second quarter of 2026 alone, placing it in a fast-expanding sector 12.
SWOT
Strengths
- The company holds a strong cash position and a developed product range, including platforms already accepted in U.S. Army programs 12.
- Rapid growth in sales and gross margin during 2026 suggests production can be scaled 23.
- Partnerships with autonomy and software companies extend the capabilities of its uncrewed systems 13.
Weaknesses
Opportunities
Risks
- Persistent net losseshigh
The company has not yet reached profitability, and if it does not improve margins and control costs, it could need additional capital 12.
- Dependence on government contractshigh
Funding depends on defense budgets and contract timing, which can be delayed or reduced 1.
- Dilution from share issuancemedium
Recent equity offerings increased the share count, and further capital raises could dilute existing shareholders 12.
- Supply chainmedium
Disruptions at key suppliers could delay production and raise costs 1.
- Regulation and exportmedium
Export controls and compliance rules can limit international sales and create costs 1.
Investment thesis
What would need to be true (bull case)
- If sales keep growing and production reaches designed capacity, margins could improve further and losses could narrow over time 23.
- A high cash position gives room to invest in new products and expansion into allied markets 3.
- Participation in competitive procurement programs and technology partnerships could strengthen the company's position in uncrewed systems 3.
What would break the thesis
- The company continues to lose money, and if sales do not hold up, pressure on liquidity could increase 12.
- Reliance on military contracts makes revenue sensitive to budget delays and policy changes 1.
- Rapid growth in spending and headcount could weaken cost discipline if revenue does not rise at the same pace 2.
What to watch
- Achievement of the full-year revenue target of 150 to 180 million USD2026
- Trend in gross margin and production at higher capacityQ3 2026
- Outcome of Gauntlet II in the Drone Dominance program2026
- Integration of the Quaze Technologies acquisition and payment of deferred considerationnext 10-Q
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Red Cat Holdings, Inc. is a U.S. provider of advanced all-domain drone and robotic solutions for defense, national security and commercial applications, aiming to deliver American-made hardware and software for military, government and public safety operations 1. It runs as one operating segment, with the chief executive as the decision maker who evaluates consolidated net income or loss 1. Its strategy is to provide products that work for the warfighter, using proven technology adapted together with customers and partners 1.
Segments
Teal
The Teal division designs and manufactures small tactical unmanned aircraft for defense and public safety customers. Its Black Widow product was selected in the U.S. Army Short Range Reconnaissance program, and AS9100 certification obtained in July 2025 confirms aerospace-grade quality 1.
FlightWave
FlightWave develops long-endurance vertical takeoff and landing fixed-wing unmanned aircraft for intelligence, surveillance and reconnaissance missions, with the Edge 130 as its main system 1.
Market context
The unmanned systems sector is growing alongside rising defense budgets and military modernization, with threats from Russia, China, North Korea and Iran cited as reasons for recapitalizing weapon systems 1. A supplemental defense package under the OBBBA act could accelerate procurement if it converts into contracts 1.
Trends
- Military demand for tactical dronestailwind
Armed forces are increasingly integrating uncrewed platforms into tactical units, which creates repeated demand for low-cost, rapidly fielded systems 1.
- Defense budget fundingmixed
Delays in appropriations and government shutdowns can postpone contracts, although supplemental funding passed in 2025 supports longer-term investment 1.
- Beyond-visual-line-of-sight rulestailwind
The proposed BVLOS rulemaking could expand the civil market if it is adopted 1.
- Supply chain and productionheadwind
The manufacturing facility runs below its designed capacity, and reliance on sole-source suppliers can delay deliveries and pressure margins 12.
Competitive position
The company competes with established defense contractors, venture-backed technology firms and international tactical drone makers, with the main factors being performance, reliability and acquisition cost 1. Its stated advantage is focus on tactical edge systems, fast innovation cycles and mission-driven design 1.
- AeroVironmentAVAV
A development partner rather than only a rival, working on integrating the FANG drone on its P550 platform; the source also notes competitors with similar endurance exist.
- Palantir TechnologiesPLTR
A software partner whose VNav visual navigation was tested on Black Widow, making it relevant mainly as a technology supplier.
- Established defense contractors
Large companies with greater financial and technical resources that can shape access to military programs.
- International tactical drone makers
Competitors from allied states, especially in foreign markets, offering comparable platforms.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Red Cat CEO Just Sold $1.6 Million of Stock. Wall Street Sees 144% Rally Ahead.Yahoo Finance — News · 21 Sept 2026 · EN
- Red Cat Sinks 6% as Speculative Drone Names Extend Month-Long Slide; Unusual Machines Drops 4%, AeroVironment Barely BudgesYahoo Finance — News · 16 Sept 2026 · EN
- AeroVironment Rises 6% as Post-Earnings Recovery Outpaces Drone Group; Ondas Ticks Up, Red Cat Barely BudgesYahoo Finance — News · 14 Sept 2026 · EN
- Drone Stocks Slide as Risk-Off Sentiment Hits High-Beta Names: AeroVironment Sinks 4%, Red Cat Drops 3%, Ondas EasesYahoo Finance — News · 09 Sept 2026 · EN
- Drone Stocks Drop While Broad Market Rises: Unusual Machines Sinks 9%, Ondas Falls 6%, Red Cat Slides 5%Yahoo Finance — News · 28 Aug 2026 · EN
- ► Kymeta joins Red Cat futures initiative to advance resilient connectivity for autonomous maritime operationsEuropean Defence Review · 14 May 2026 · RO
The latest news item in our archive is from 21 Sept 2026; the newest SEC filing is from 23 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report23 Oct 2026Material agreement · Other events · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report22 Jul 2026Departure or appointment of officers · Other events · Financial statements and exhibits
- Current report25 Jun 2026Shareholder vote · Financial statements and exhibits
- Current report20 May 2026Acquisition or disposition of assets · Item 3.02 · Regulation FD disclosure · Financial statements and exhibits
- Current report18 May 2026Other events · Financial statements and exhibits
- Current report14 May 2026Material agreement · Other events · Financial statements and exhibits
- Current report11 May 2026Other events
- Quarterly report07 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Red Cat Holdings, Inc. · 19 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Red Cat Holdings, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Red Cat Holdings, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.