Red Cat Holdings, Inc. (RCAT)

Red Cat Holdings Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021
Net Income	-48.55	-72.08	-24.05	-28.11	-11.69	-13.24
Depreciation & Amortization	1.24	2.27	1.42	0.97	0.26	0.04
Stock-Based Compensation	14.8	10.56	3.61	3.66	3.29	3.39
Other Adjustments	0.84	7.69	3.45	3.16	-0.79	8.22
Change in Receivables	-7.86	-25.67	-3.64	-0.29	-0.07	-0.07
Changes in Inventories	-43.62	-16.8	0.67	-5.71	-2.23	-0.06
Changes in Accounts Payable	7.77	1.57	0.19	0.43	-1.17	0.01
Changes in Accrued Expenses	3.3	3.85	0.66	-0.61	-0.34	0.62
Changes in Unearned Revenue	-0.3	0.03	-0.1	-0.14	0.33	-0.02
Changes in Other Operating Activities	-1.03	-0.56	-3.32	-4.3	-3.61	-0.29
Operating Cash Flow	-98.52	-89.13	-17.72	-24.31	-16.02	-1.4
Capital Expenditures	-12.91	-6.65	-0.26	-2.45	-0.36	-
Purchases of Investments	-	-	-	-0.25	-57.62	-
Proceeds from Sale of Investments	2.2	-	12.83	32.29	11.36	-
Payments for Business Acquisitions	-	-	-	-	-	-0.05
Proceeds from Business Divestments	-	-	1	-	-	-
Other Investing Activities	-	-	-	-	0.02	-
Investing Cash Flow	-10.71	-6.65	13.57	29.59	-46.6	-0.05
Long-Term Debt Issued	3.84	15	-	0.01	-	1.82
Long-Term Debt Repaid	-0.2	-1.65	-0.57	-0.65	-2.9	-0.53
Net Long-Term Debt Issued (Repaid)	3.64	13.35	-0.57	-0.63	-2.9	1.29
Issuance of Common Stock	187.56	256.62	9.21	-	70.17	0.2
Net Common Stock Issued (Repurchased)	187.56	256.62	9.21	-	70.17	0.2
Other Financing Activities	-0.5	-15.48	-0.8	-0.58	-0.83	-
Financing Cash Flow	174.49	254.49	7.84	-1.22	66.43	1.49
Net Cash Flow	65.26	158.71	2.81	-0.82	3.81	0.04
Free Cash Flow	-111.43	-95.78	-17.98	-26.76	-16.38	-1.4
FCF Margin	-204.19%	-235.17%	-100.80%	-579.20%	-254.83%	-27.98%
Free Cash Flow Per Share	-1.03	-0.97	-0.30	-0.50	-0.34	-0.06
Levered Free Cash Flow	-117.43	-75.02	-25.37	-40.54	-21.71	-11.65
Unlevered Free Cash Flow	-128.35	-83.3	-20.04	-37.17	-20.12	-4.58

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

SEC Filings: 10-K · 10-Q