RCAT · XBRL financial data

Red Cat Holdings financial statements, every fiscal year

The same tables from 9 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (RCAT's year ends in late December)

In thousands of dollars	FY 2021Apr 30, 2021	FY 2022Apr 30, 2022	FY 2023Apr 30, 2023	FY 2024Apr 30, 2024	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	5,000	6,429	9,912	17,836	—	—
Revenue from contracts with customers	—	—	1,312	4,173	—	40,729
Cost of goods and services sold	3,930	5,503	10,249	14,156	—	39,455
Gross profit	1,070	926	(337)	3,681	—	1,274
Research and development	516	2,606	5,248	5,896	—	17,890
General and administrative	1,279	5,549	6,619	10,679	—	36,875
Total operating expenses	5,946	13,928	26,790	21,557	—	67,871
Operating income (loss)	—	—	(26,338)	(21,527)	—	(66,597)
Interest expense	1,224	148	122	69	—	—
Other income (expense)	(8,360)	1,313	39	(3,650)	—	487
Income tax expense (benefit)	—	—	—	0	—	443
Net income (loss)	(13,236)	(11,689)	(27,088)	(24,053)	—	(72,075)
Earnings per share, basic USD per share	—	—	(0.52)	(0.40)	—	(0.73)
Earnings per share, diluted USD per share	—	—	(0.52)	(0.40)	—	(0.73)
Weighted average shares, basic thousands of shares	—	—	53,860	60,119	—	98,957
Weighted average shares, diluted thousands of shares	—	—	53,860	60,119	—	98,957

Fiscal years (RCAT's year ends in late December)

In thousands of dollars	FY 2021Apr 30, 2021	FY 2022Apr 30, 2022	FY 2023Apr 30, 2023	FY 2024Apr 30, 2024	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	277	4,085	3,260	6,067	9,154	167,865
Marketable securities	—	—	12,814	—	—	—
Accounts receivable	322	496	781	4,361	489	26,155
Inventory	362	3,896	11,987	8,007	12,951	23,452
Prepaid and other current assets	479	1,707	2,422	603	2,562	2,524
Total current assets	1,640	55,653	32,175	22,398	25,798	226,938
Property and equipment, net	—	512	2,650	2,341	1,881	7,797
Right-of-use asset	—	1,019	705	1,481	1,491	13,125
Goodwill	8,017	25,139	17,013	9,089	17,671	17,671
Total assets	11,693	85,079	60,193	48,538	55,604	273,677
Accounts payable	542	1,019	1,999	1,580	2,050	3,619
Accrued liabilities	614	1,084	519	1,070	1,240	5,087
Total current liabilities	4,674	5,439	4,761	3,651	4,179	14,846
Long-term debt	—	974	402	—	—	—
Lease liability, non-current	—	750	421	1,322	1,306	12,556
Total liabilities	—	—	5,975	4,973	5,485	27,845
Accumulated deficit	(15,810)	(27,499)	(54,587)	(81,131)	(124,745)	(196,820)
Total stockholders' equity	5,266	77,916	54,610	43,565	50,120	245,832
Total liabilities and equity	11,693	85,079	60,193	48,538	55,604	273,677
Common shares outstanding (cover page) thousands of shares	48,244	53,808	55,541	74,601	85,648	121,139

Fiscal years (RCAT's year ends in late December)

In thousands of dollars	FY 2021Apr 30, 2021	FY 2022Apr 30, 2022	FY 2023Apr 30, 2023	FY 2024Apr 30, 2024	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(13,236)	(11,689)	(27,088)	(24,053)	—	(72,075)
Stock-based compensation	3,388	3,292	3,657	—	—	—
Depreciation and amortization	—	—	—	1,423	—	2,265
Net cash from operating activities	(1,399)	(16,019)	(29,199)	—	—	—
Net cash from investing activities	(48)	(46,603)	29,590	—	—	—
Proceeds from issuing common stock	—	70,065	—	9,200	—	249,249
Net cash from financing activities	1,488	66,430	(1,215)	—	—	—
Net change in cash	41	3,807	(825)	2,807	—	—

SIC 7372 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 7372 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($K)	Revenue, quarter ($K)	Operating cash flow, quarter ($K)	Shares outstanding	Runway	Quarter
Red Cat Holdings	325,553	20,189	(46,804)*	152.7M	7.0 quarters	Q2 FY26 10-QJun 30, 2026
Moatable	22,049	20,425	804*	not reported	—	Q3 FY25 10-QSep 30, 2025
Red Violet	49,972	26,718	10,637*	16.0M	—	Q2 FY26 10-QJun 30, 2026
OneSpan	51,393	63,885	16,493*	36.9M	—	Q3 FY26 10-QSep 30, 2026
Taboola.com	133,052	476,826	31,253*	not reported	—	Q2 FY25 10-QJun 30, 2026
PDF Solutions	114,883	not reported	16,401*	42.2M	—	Q2 FY26 10-QJun 30, 2026
N-able	115,812	138,223	26,514*	188.9M	—	Q2 FY26 10-QJun 30, 2026
Grid Dynamics Holdings	304,287	114,294	16,016*	80.4M	—	Q3 FY26 10-QSep 30, 2026
Healthstream	46,169	83,732	13,431*	29.2M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.