Red Cat Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Apr '24 Apr 30, 2024	Apr '23 Apr 30, 2023	Apr '22 Apr 30, 2022	Apr '21 Apr 30, 2021
Revenue	54.57	40.73	17.84	4.62	6.43	5
Revenue Growth (YoY)	424.15%	128.35%	285.99%	-28.13%	28.59%	1137.69%
Cost of Revenue	50.48	39.46	14.16	5.46	5.5	3.93
Gross Profit	4.09	1.27	3.68	-0.83	0.93	1.07
Selling, General & Admin	63.08	49.98	16.3	16.12	9.97	4.84
Research & Development	22.43	17.89	6.27	5.6	2.61	0.52
Other Operating Expenses	-	-	0.41	2.83	1.35	0.59
Total Operating Expenses	85.51	67.87	22.98	24.54	13.93	5.95
Operating Income	-81.42	-66.6	-19.3	-25.37	-13	-4.88
Interest Expense	-2.66	-2.71	0.07	0.12	0.15	1.22
Other Non-Operating Income (Expense)	2.07	-14.66	-21.5	-0.08	-1.04	-2.14
Total Non-Operating Income (Expense)	-0.59	-17.37	-21.43	0.04	-0.89	-0.91
Pretax Income	-41.87	-71.63	-21.53	-25.33	-13.9	-5.79
Provision for Income Taxes	0.7	0.44	-	-	-	-
Net Income	-75.5	-72.08	-24.05	-28.11	-11.69	-13.24
Earnings From Discontinued Operations	-	-	-2.53	-1.73	-	-
Net Income to Common	-75.5	-72.08	-24.05	-28.11	-11.69	-13.24
Shares Outstanding (Basic)	108	99	60	54	48	24
Shares Outstanding (Diluted)	108	99	60	54	48	24
Shares Change (YoY)	50.04%	64.60%	11.62%	11.70%	103.84%	72.26%
EPS (Basic)	-0.70	-0.73	-0.40	-0.52	-0.24	-0.56
EPS (Diluted)	-0.70	-0.73	-0.40	-0.52	-0.24	-0.56
Shares Outstanding	121.84	120.07	74.29	54.57	53.75	29.43
Free Cash Flow	-111.43	-95.78	-17.98	-26.76	-16.38	-1.4
Free Cash Flow Per Share	-1.03	-0.97	-0.30	-0.50	-0.34	-0.06
Gross Margin	7.50%	3.13%	20.64%	-18.06%	14.40%	21.40%
Operating Margin	-149.20%	-163.51%	-108.20%	-549.07%	-202.25%	-97.54%
Profit Margin	-90.16%	-176.96%	-120.69%	-570.82%	-216.16%	-115.82%
FCF Margin	-204.19%	-235.17%	-100.80%	-579.20%	-254.83%	-27.98%
EBITDA	-80.18	-64.33	-17.88	-24.41	-12.74	-4.84
EBITDA Margin	-146.94%	-157.95%	-100.22%	-528.17%	-198.13%	-96.80%
EBIT	-81.42	-66.6	-19.3	-25.37	-13	-4.88
EBIT Margin	-149.20%	-163.51%	-108.20%	-549.07%	-202.25%	-97.54%
Effective Tax Rate	-1.67%	-0.62%	0.00%	0.00%	0.00%	0.00%

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q