Red Cat Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended October 31, 2023
December 15, 2023 at 04:08 pm EST
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Red Cat Holdings, Inc. reported earnings results for the second quarter and six months ended October 31, 2023. For the second quarter, the company reported sales was USD 3.93 million compared to USD 0.747612 million a year ago. Net loss was USD 5.68 million compared to USD 6.24 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.11 a year ago. Basic loss per share was USD 0.1 compared to USD 0.12 a year ago.
For the six months, sales was USD 5.68 million compared to USD 1.87 million a year ago. Net loss was USD 11.49 million compared to USD 10.06 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.18 a year ago. Basic loss per share was USD 0.21 compared to USD 0.19 a year ago.
Red Cat Holdings Inc is a Puerto Rico-based provider of products, services and solutions to the drone industry. The Company provides its services to the enterprise, military, and consumer markets. It designs, develops, markets, and sells drone software and products. Red Cat's Golden Eagle drones are approved by the Department of Defense for reconnaissance, public safety, and inspection applications. The technology of Skypersonic Inc, a subsidiary of the Company enables drones to complete inspection services in locations where Global Positioning System (GPS) is not available, yet still record and transmit data even while being operated from thousands of miles away. The Company's offering also includes First Person View (FPV) video goggles that give pilots a better perspective to control their drone in flight. Red Cat Holdings Inc operates through several subsidiaries, including Teal Acquisition I Corp and Rotor Riot, LLC.