Filing Flows › Red Cat Holdings (RCAT) › Q1 2024
Red Cat Holdings (RCAT) Q1 2024 earnings results (first quarter 2024)
10-K filed Aug 8, 2024
Red Cat Holdings (RCAT) reported revenue of $6.3M for the first quarter 2024 (Q1 2024), +485% from a year earlier and +8% from the quarter before. Operating margin was -119.0%, net loss $7.1M (112.1% of revenue).
Red Cat Holdings, Q1 2024: revenue $6.3M (+485% year over year), operating margin -119.0%, net loss $7.1M, operating cash flow −$2.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.3M | +8% | +485% |
| Operating profit | −$7.5M | — | — |
| Net earnings | −$7.1M | — | — |
| Operating cash flow | −$2.4M | — | — |
What changed
Revenue was $6.3M in Q1 2024, up 485% year over year and up 8% from the previous quarter.
Gross margin was 19.1%. Operating costs exceeded revenue by $7.5M, an operating margin of -119.0%. The quarter ended with a net loss of $7.1M, wider than the previous quarter's $5.5M loss.
Operating cash flow was −$2.4M. Non-cash charges added back $415K of depreciation and amortization and $915K of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of $74K exceeded it, leaving free cash flow of −$2.4M.
Questions
What was Red Cat Holdings' revenue in the first quarter 2024?
Red Cat Holdings (RCAT) reported revenue of $6.3M for the first quarter 2024 (Q1 2024), +485% from a year earlier and +8% from the quarter before.
Was Red Cat Holdings profitable in the first quarter 2024?
Operating loss was $7.5M (-119.0% of revenue) and net loss $7.1M.
Source: Red Cat Holdings 10-K on SEC EDGAR.