Red Cat Holdings, Inc. has released its financial results for the eight-month stub period ending on December 31st, 2024. The company's Chief Executive Officer and Interim Chief Financial Officer, Jeff Thompson, presented the results during a conference call.
The company reported a total revenue of $3.2 million for the eight-month period, representing an increase of 15% compared to the previous period. Additionally, Red Cat Holdings saw a significant improvement in gross margin, which rose to 28% from the previous period's 20%.
In terms of operating expenses, the company reported a decrease to $2.5 million, down from $3 million in the previous period. This reduction in operating expenses contributed to an operating loss of $400,000, an improvement from the previous period's operating loss of $700,000.
Furthermore, Red Cat Holdings reported a net loss of $600,000 for the eight-month period, reflecting a decrease from the previous period's net loss of $800,000.
During the conference call, management made forward-looking statements regarding the company's expectations for future performance and operational results.
Investors and analysts can access a webcast replay of the conference call, which will be available for playback purposes until April 30th, 2025. Today the company's shares have moved -6.8% to a price of $6.92. Check out the company's full 8-K submission here.
