Red Cat Holdings, Inc. reported second quarter 2026 financial results for the period ended June 30, 2026. Total revenue reached $20.2 million, representing a 527% year-over-year increase from Q2 2025. Gross profit rose to $3.3 million, with gross margins improving to 16.1%, up 39 percentage points year-over-year and 27 percentage points sequentially from Q1 2026. The company reaffirmed its full-year revenue target of $150 million to $180 million. Balance sheet cash increased to $325.6 million, while inventory rose to $84.8 million. Operational highlights include advancing Teal Drones to Gauntlet II of the Drone Dominance program, completing the acquisition of Quaze Technologies, and scaling Blue Ops into full-rate production for its Variant 7 uncrewed surface vessel. Red Cat Holdings, Inc. is a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security.

Red Cat Holdings, Inc. terminated Chief Revenue Officer Geoffrey Hitchcock on July 23, 2026, for cause, denying him severance or accelerated equity vesting. Following the termination, Geoffrey Hitchcock filed a civil complaint against the company on July 21, 2026, alleging retaliatory termination and breach of contract. Red Cat Holdings, Inc. is a technology company providing drone technology and drone-related services for defense and public safety sectors.

Red Cat Holdings, Inc. held its 2026 Annual Meeting of Stockholders on June 18, 2026. Shareholders elected five directors, including Jeffrey M. Thompson and Joseph Freedman, and ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. However, a non-binding advisory vote regarding executive compensation failed to receive a majority of votes cast, with 15,194,017 votes in favor and 21,304,013 votes against. The company's Compensation Committee may review the program with an independent advisor to align executive interests with stockholders. Red Cat Holdings, Inc. provides drone technology and tactical solutions.