Red Cat Holdings secures $518,000 in orders for 12 Edge 130 drones from the Army National Guard and a government agency.
Quiver AI Summary
Red Cat Holdings, Inc. announced it has received new orders totaling $518,000 for its Edge 130 drone from the Army National Guard and another U.S. Government Agency, reflecting its ongoing success in the defense and security sectors. The Edge 130, acquired through Red Cat's purchase of FlightWave in September 2024, is a military-grade drone designed for reconnaissance and surveillance, known for its long endurance and advanced AI-driven features. The company plans to expand its manufacturing capacity for the Edge 130 to meet rising demand. CEO Jeff Thompson emphasized the drone's unique capabilities and the company's commitment to supporting U.S. government operations with cutting-edge technology.
Potential Positives
- Red Cat secured new orders totaling $518,000 for its Edge 130 drone from the Army National Guard and a U.S. Government Agency, demonstrating strong demand for its products.
- The acquisition of FlightWave has strengthened Red Cat's product offerings by integrating advanced technologies such as the Edge 130 Blue, enhancing its capabilities for military and government applications.
- The Edge 130 is recognized for its industry-leading endurance and AI-driven features, reinforcing Red Cat's position as a trusted provider in the defense sector.
- Red Cat is expanding its manufacturing capacity for the Edge 130, indicating a commitment to meet growing demand and supporting U.S. government agencies with advanced drone solutions.
Potential Negatives
- Forward-looking statements emphasize inherent risks and uncertainties about future performance, which may undermine investor confidence.
- The reliance on new orders from government agencies raises concerns about the sustainability of revenue streams, especially if government contracts fluctuate.
- The press release does not disclose details on the financial health or performance metrics of Red Cat, which could lead to skepticism regarding its overall stability.
FAQ
What new orders has Red Cat Holdings secured?
Red Cat has secured new orders totaling $518,000 for 12 Edge 130 drones from the Army National Guard and another U.S. Government Agency.
What is the Edge 130 drone known for?
The Edge 130 drone is known for its long-endurance flight times, AI-driven surveillance features, and operational effectiveness in mission-critical environments.
How does the Edge 130's performance impact Red Cat's reputation?
The orders validate the Edge 130's performance and reinforce Red Cat's position as a trusted provider of drone solutions for military and government applications.
What capabilities does the Edge 130 Blue offer?
The Edge 130 Blue is a UAS-certified military-grade tricopter designed for long-range mapping, inspection, surveillance, and reconnaissance needs.
What companies are part of Red Cat Holdings?
Red Cat Holdings comprises Teal Drones and FlightWave Aerospace, which develops various drone systems including the Black Widow and TRICHON.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RCAT Insider Trading Activity
$RCAT insiders have traded $RCAT stock on the open market 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 have been sales.
Here’s a breakdown of recent trading of $RCAT stock by insiders over the last 6 months:
- GEORGE MICHAEL MATUS (CTO, Red Cat Holdings) has made 0 purchases and 5 sales selling 781,383 shares for an estimated $9,178,132.
- NICHOLAS REYLAND JR LIUZZA has made 0 purchases and 5 sales selling 628,928 shares for an estimated $6,243,376.
- JEFFREY M THOMPSON (Chairman of the Board, CEO) has made 0 purchases and 3 sales selling 500,000 shares for an estimated $5,737,057.
- LEAH LUNGER (Chief Financial Officer) has made 0 purchases and 2 sales selling 524,798 shares for an estimated $4,997,200.
- JOSEPH DAVID FREEDMAN has made 0 purchases and 5 sales selling 102,228 shares for an estimated $1,194,786.
- GEOFFREY WAYNE HITCHCOCK (Chief Revenue Officer) has made 0 purchases and 2 sales selling 113,823 shares for an estimated $1,188,386.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RCAT Hedge Fund Activity
We have seen 42 institutional investors add shares of $RCAT stock to their portfolio, and 21 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AIGH CAPITAL MANAGEMENT LLC removed 4,920,601 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $12,498,326
- VANGUARD GROUP INC added 877,481 shares (+61.8%) to their portfolio in Q3 2024, for an estimated $2,228,801
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 636,489 shares (+2763.5%) to their portfolio in Q3 2024, for an estimated $1,616,682
- MARSHALL WACE, LLP added 555,121 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,410,007
- APIS CAPITAL ADVISORS, LLC added 402,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,021,080
- EAM INVESTORS, LLC added 300,324 shares (+inf%) to their portfolio in Q3 2024, for an estimated $762,822
- RENAISSANCE TECHNOLOGIES LLC removed 232,600 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $590,804
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN JUAN, Puerto Rico, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat" or the "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced it has secured new orders for its Edge 130 drone from the Army National Guard and another U.S. Government Agency (OGA), totaling $518,000.
FlightWave, a leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.
The combined orders, which amount to 12 Edge 130 drones, reflect Red Cat’s continued momentum in providing advanced drone technology solutions to key defense and security customers. The Edge 130 is known for its robust capabilities, including long-endurance flight times, AI-driven surveillance features, and operational effectiveness in a variety of mission-critical environments.
“These new orders further validate the performance and unique capabilities of the Edge 130 as part of our Family of Systems and reinforce our position as a trusted provider of drone solutions for government and military applications,” said Jeff Thompson, Red Cat CEO. “We are expanding our manufacturing capacity for the Edge 130 to accelerate this momentum and remain committed to supporting U.S. government agencies with the industry’s best technology that enhances their mission capabilities and success.”
The Edge 130 Blue is a UAS-certified military-grade tricopter for long-range mapping, inspection, surveillance, and reconnaissance needs. Designed specifically for government and military applications, the Edge 130 Blue can be assembled and hand-launched in just one minute by a single user to capture high-accuracy aerial imagery with medium-range autonomy. Weighing in at only 1200g, the Edge has a 60+ minute flight time in forward mode, an industry-leading endurance among all other Blue UAS-approved drones available.
About Red Cat Holdings, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a Family of Systems. This includes the Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry's first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red .
About FlightWave
FlightWave Aerospace Systems Corporation is an industry leading manufacturer of dual-use VTOL drones, sensors and software solutions located in Santa Monica, CA. FlightWave designs and manufactures the Edge 130 VTOL drone and payload cameras for the commercial, defense, security, and intelligence markets. The fully-autonomous Edge 130 sUAS has the best flight endurance in the industry and with AI edge compute capabilities, provides superior aerial data capture to both the commercial and defense markets.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.
Contacts:
INVESTORS: E-mail: [email protected]
NEWS MEDIA: Indicate Media Phone: (347) 880-2895 Email: [email protected]