Filing Flows › Red Cat Holdings (RCAT) › Q2 2026 › vs Q1 2026
Red Cat Holdings (RCAT) Q2 2026 vs Q1 2026 (quarter over quarter)
Red Cat Holdings's revenue rose $4.7M (+30%) from $15.5M in Q1 2026 to $20.2M in Q2 2026. The biggest changes: Product +$4.5M (+30%); Service +$217K (+83%).
Red Cat Holdings, Q2 2026: revenue $20.2M (+527% year over year), operating margin -191.4%, net loss $35.3M, operating cash flow −$46.8M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Product | $19.7M | $15.2M | $4.5M | +30% |
| Service | $477K | $260K | $217K | +83% |
| Revenue | $20.2M | $15.5M | $4.7M | +30% |
| Other income, net | $3.4M | $754K | $2.7M | +352% |
| Net loss | $35.3M | $26.6M | $8.7M | +33% |
| Costs & expenses | $58.9M | $42.8M | $16.1M | +38% |
| Operating costs | $58.8M | $42.8M | $16.1M | +38% |
| Income tax | $23K | $5K | $18K | +360% |
| Cost of revenue | $16.9M | $13.5M | $3.4M | +25% |
| Research & development | $14.2M | $8.0M | $6.2M | +78% |
| Sales & marketing | $6.4M | $4.6M | $1.9M | +41% |
| General & admin | $21.2M | $16.7M | $4.5M | +27% |
| Operating cash sources | $53.3M | $37.6M | $15.7M | +42% |
| Depreciation & amortization | $1.5M | $812K | $660K | +81% |
| Share-based compensation | $5.0M | $4.8M | $225K | +5% |
| Cash used in operations | $46.8M | $31.9M | $14.9M | +47% |
| Net loss absorbed | $35.3M | $26.6M | $8.7M | +33% |
| Working capital & other | $18.1M | $11.0M | $7.0M | +64% |
Questions
How much did Red Cat Holdings's revenue grow quarter over quarter in Q2 2026?
Red Cat Holdings's revenue rose $4.7M (+30%) from $15.5M in Q1 2026 to $20.2M in Q2 2026.
What drove Red Cat Holdings's revenue change in Q2 2026?
Product +$4.5M (+30%); Service +$217K (+83%).