Red Cat Reports Preliminary Record Revenue 30% Above Guidance for Second Quarter of Fiscal 2024
08 11월 2023 - 4:30AM
Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat'' or the
"Company"), a drone technology company integrating robotic hardware
and software for military, government, and commercial operations,
reports preliminary revenue for the second quarter of fiscal 2024
(three months ending October 31, 2023) ahead of its quarterly
filing, including:
- Revenue of approximately $3.9
million for fiscal second quarter of 2024, representing a
sequential increase of 123%
- Backlog of approximately $4.5M at
October 31, 2023, representing the highest amount in the Company’s
history
- Company affirms previous guidance
of approximately $5 million in revenue for the fiscal third quarter
(three months ending January 31, 2024), representing a 28%
sequential increase
“We are pleased to report a second consecutive
quarter of record revenues, and our growing order backlog positions
us to continue reporting sequential revenue growth through the end
of fiscal 2024 and beyond,” stated Jeff Thompson, Chief Executive
Officer. “We had purposely established meaningful inventory
balances to address the supply chain challenges that previously
existed and are excited to be turning these assets into cash to
fund our continued growth.”
“The Teal team continues to improve
manufacturing yields, reduce material and labor costs, and increase
monthly production capacity,” stated Dr. Allan Evans, Chief
Operating Officer. “We expect each of these achievements to drive
gross margins higher. We are well positioned to efficiently fulfill
our growing backlog of orders.”
About Red Cat Holdings,
Inc.
Red Cat (Nasdaq: RCAT) is
a drone technology company integrating robotic hardware
and software for military, government, and commercial
operations. Red Cat’s solutions are designed to “Dominate
the Night™” and include the Teal 2, a small unmanned
system offering the highest-resolution thermal imaging in its
class. Learn more at www.redcat.red
Forward-Looking
Statements
This press release contains "forward-looking
statements" that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as "anticipate,"
"believe," "contemplate," "could," "estimate," "expect," "intend,"
"seek," "may," "might," "plan," "potential," "predict," "project,"
"target," "aim," "should," "will," "would," or the negative of
these words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on Red Cat Holdings, Inc.'s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. These and other risks and
uncertainties are described more fully in the section titled "Risk
Factors" in the final prospectus related to the public offering
filed with the Securities and Exchange Commission. Forward-looking
statements contained in this announcement are made as of this date,
and Red Cat Holdings, Inc. undertakes no duty to update such
information except as required under applicable law.
Contacts
NEWS MEDIA: CORE Public RelationsPhone: (516)
222-2560 Email: media@redcat.red
INVESTORS: CORE IR Phone: (516)
222-2560 Email: investors@redcat.red Website: https://www.redcatholdings.com
Red Cat (NASDAQ:RCAT)
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부터 4월(4) 2024 으로 5월(5) 2024
Red Cat (NASDAQ:RCAT)
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부터 5월(5) 2023 으로 5월(5) 2024