Red Cat Holdings

Red Cat Holdings

Red Cat Holdings is a defence company based in South Salt Lake, Utah, and listed on Nasdaq as RCAT. It focuses on small uncrewed aircraft and related systems for military and public-safety customers. On 12 October 2026 it combined its Teal Drones and FlightWave Aerospace businesses under one brand, Red Cat Aerial. Fat Shark, its former consumer FPV business, is no longer part of the group.

Key Products

Black Widow — A small reconnaissance quadcopter produced by Teal. The company presents the platform for military small-UAS use.

Edge 130 Blue — A fixed-wing UAS offered through FlightWave for longer-endurance reconnaissance and mapping missions.

FANG — Red Cat’s family of autonomous navigation and payload capabilities, which it says is intended for its small-UAS product line.

Business and Funding

Red Cat reported fiscal-2025 revenue of $40.7 million. For the second quarter of 2026, it reported $20.2 million of revenue and $3.3 million of gross profit. It is publicly traded on Nasdaq under RCAT. Contract awards and programme selections are important to the business, but a programme vehicle should not be read as a guarantee of deliveries or revenue.

Why It Matters

Red Cat is one of a small number of listed U.S. companies whose results are closely tied to defence small-UAS procurement. Its move from a Teal-led product story to a portfolio including FlightWave makes product and manufacturing execution as important as contract announcements. The relevant evidence is recurring delivery revenue and fielded performance, rather than broad assumptions about domestic-drone policy alone.

The distinction also matters for readers following procurement: a platform can be selected, tested or placed on a contract vehicle without producing the same revenue as a completed production order. Red Cat’s reported quarter provides a current financial reference point, while the mix of delivery programmes and product development still needs to be followed through future filings.