Red Cat Holdings, Inc. (RCAT)RCATRed Cat Holdings, Inc.

Balance Sheet

Assets, liabilities, and equity analysis

Quarterly Balance Sheet (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	10/31/2024	07/31/2024
Total Current Assets	209.662M	209.662M	226.938M	248.802M	91.574M	29.412M	—	20.913M	23.263M
Cash & Cash Equivalents	131.919M	131.919M	167.865M	206.426M	65.930M	7.722M	—	4.611M	1.409M
Short-Term Investments	0.00	0.00	0.00	0.00	0.00	0.00	—	0.00	2.615M
Cash & Short-Term Investments	131.919M	131.919M	167.865M	206.426M	65.930M	7.722M	—	4.611M	4.024M
Accounts Receivable	10.571M	10.571M	26.155M	6.107M	1.012M	1.554M	—	1.121M	2.989M
Inventory	50.530M	50.530M	23.452M	22.642M	16.170M	13.855M	—	12.165M	10.872M
Total Assets	281.885M	281.885M	273.677M	286.024M	121.368M	59.656M	—	51.092M	50.607M
Property, Plant & Equipment	26.984M	26.984M	20.922M	11.070M	4.089M	4.162M	—	3.466M	3.054M
Goodwill	31.522M	31.522M	17.671M	17.671M	17.671M	17.671M	—	22.964M	17.013M
Intangible Assets	12.490M	12.490M	6.919M	7.295M	7.671M	8.047M	—	3.440M	6.888M
Long-Term Investments	0.00	0.00	692K	250K	250K	250K	—	250K	0.00
Total Current Liabilities	19.081M	19.081M	14.846M	23.887M	24.130M	28.906M	—	14.673M	4.405M
Accounts Payable	9.242M	9.242M	3.619M	2.975M	1.481M	1.519M	—	1.591M	1.618M
Short-Term Debt	350K	350K	4.868M	13.701M	19.784M	25.483M	—	4.090M	954K
Total Liabilities	43.146M	43.146M	27.845M	32.750M	25.803M	30.745M	—	24.064M	4.732M
Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	—	8.178M	91K
Total Debt	13.794M	13.794M	18.435M	22.420M	21.916M	27.812M	—	13.820M	1.570M
Net Debt (Cash)	-118.125M	-118.125M	-149.430M	-184.006M	-44.014M	20.089M	—	9.208M	161K
Total Shareholders' Equity	238.739M	238.739M	245.832M	253.274M	95.565M	28.911M	—	27.028M	45.875M
Common Stock	122K	122K	120K	118K	99K	86K	—	78K	56K
Retained Earnings	-223.373M	-223.373M	-196.820M	-177.163M	-161.147M	-147.868M	—	-106.882M	-66.078M
Current Ratio	10.99	10.99	15.29	10.42	3.80	1.02	—	1.43	5.28
Debt to Equity Ratio	0.06	0.06	0.07	0.09	0.23	0.96	—	0.51	0.03

Annual Balance Sheet (USD)

Annual Report	12/31/2025	03/31/2025	12/31/2024	04/30/2024	04/30/2023	04/30/2022	04/30/2021	04/30/2020
Total Current Assets	226.938M	—	25.798M	22.398M	32.175M	55.653M	1.640M	318K
Cash & Cash Equivalents	167.865M	—	9.154M	6.067M	3.174M	4.085M	277K	237K
Short-Term Investments	0.00	—	0.00	0.00	12.814M	44.790M	0.00	0.00
Cash & Short-Term Investments	167.865M	—	9.154M	6.067M	15.988M	48.875M	277K	237K
Accounts Receivable	26.155M	—	489K	6.514M	872K	913K	397K	0.00
Inventory	23.452M	—	12.951M	8.007M	8.921M	3.896M	362K	79K
Total Assets	273.677M	—	55.604M	48.538M	60.743M	85.079M	11.693M	2.808M
Property, Plant & Equipment	20.922M	—	3.372M	3.821M	4.251M	1.531M	0.00	0.00
Goodwill	17.671M	—	17.671M	9.089M	17.013M	25.139M	8.017M	2.466M
Intangible Assets	6.919M	—	8.453M	3.794M	6.893M	2.699M	2.032M	20K
Long-Term Investments	692K	—	250K	5.143M	250K	0.00	0.00	0.00
Total Current Liabilities	14.846M	—	4.179M	3.651M	4.050M	5.439M	4.674M	829K
Accounts Payable	3.619M	—	2.050M	1.580M	1.393M	1.019M	542K	249K
Short-Term Debt	4.868M	—	350K	752K	922K	957K	269K	119K
Total Liabilities	27.845M	—	5.485M	4.973M	5.975M	7.163M	6.427M	1.279M
Long-Term Debt	0.00	—	0.00	0.00	402K	1.724M	1.753M	450K
Total Debt	18.435M	—	1.968M	2.269M	2.965M	3.724M	2.022M	569K
Net Debt (Cash)	-149.430M	—	-7.186M	-3.798M	-209K	-361K	1.745M	332K
Total Shareholders' Equity	245.832M	—	50.119M	43.565M	54.768M	77.916M	5.266M	1.529M
Common Stock	120K	—	85K	74K	55K	54K	29K	20K
Retained Earnings	-196.820M	—	-124.745M	-81.131M	-57.078M	-27.499M	-15.810M	-2.574M
Current Ratio	15.29	—	6.17	6.13	7.94	10.23	0.35	0.38
Debt to Equity Ratio	0.07	—	0.04	0.05	0.05	0.05	0.38	0.37

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Red Cat Holdings, Inc.

Red Cat Holdings, Inc. (RCAT) operates as a multifaceted provider within the drone industry, offering a comprehensive suite of products, services, and innovative solutions. The company develops and supplies unmanned aerial vehicle (UAV) technology tailored for both commercial and government sectors, addressing critical applications such as reconnaissance, public safety, and detailed inspection. Its product portfolio also includes immersive First Person View (FPV) video goggles, alongside specialized software and hardware designed to enable drones to perform inspection tasks even in environments where global positioning systems are inaccessible. Furthermore, Red Cat Holdings actively markets and sells FPV drones and related equipment, predominantly serving the consumer marketplace. The company's operations are headquartered in San Juan, Puerto Rico.

San Juan, PR

115 employees

www.redcatholdings.com

Technology / Computer Hardware

Sector: Technology
Industry: Computer Hardware
CEO: Jeffrey Thompson

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