Red Cat Holdings, Inc. Income Statement
RCAT / Information Technology|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
Red Cat Holdings, Inc. reported $41M in revenue and $72M in net loss for FY2025. Revenue has grown at a 84.7% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 3.05 (safe zone, above 2.9 threshold)
- Low earnings quality (accrual-heavy earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.7M | $17.8M | $4.6M | $6.4M | $6.4M | $403.9K | $403.9K | $105.1K | $933 | $203.6K | $59.4K | $42.1K | $8.5K | $633 | $7.6K |
| Cost of Revenue | $39.5M | $6.2M | $14.2M | $5.5M | $5.5M | $325.4K | $325.4K | - | $280 | - | $49.8K | $20.1K | $0 | - | - |
| Gross Profit | $1.3M | -$1.4M | $3.7M | $925.5K | $925.5K | $78.6K | $78.6K | -$246.7K | $653 | $203.6K | $9.6K | $22.0K | $8.5K | $7.3K | $7.6K |
| SG&A Expense | $36.9M | $11.5M | $11.2M | $5.5M | $5.5M | $1.2M | $949.6K | $384.7K | - | - | - | - | - | $230.4K | $53.8K |
| R&D Expense | $17.9M | $6.6M | $6.3M | $2.6M | $2.6M | $489.0K | $489.0K | $366.6K | $993.9K | $860.5K | - | - | - | - | - |
| Operating Income | -$66.6M | -$25.8M | -$19.3M | - | - | - | -$751.3K | -$2.1M | -$1.1M | -$1.5M | -$239.0K | -$395.0K | -$28.1K | -$130.2K | -$84.7K |
| Interest Expense | - | - | $68.6K | $122.0K | $147.7K | - | $29.2K | $500.2K | $376.1K | -$10.4K | $104.8K | $4.4K | $0 | $9.5K | -$38.6K |
| Income Tax | $443.0K | $0 | $0 | - | - | - | - | - | - | - | $0 | $0 | $9.5K | $1.7K | - |
| Net Income | -$72.1M | -$24.1M | -$28.1M | -$11.7M | -$11.7M | -$1.6M | -$1.6M | -$2.6M | $1.1M | -$3.4M | -$3.5M | -$7.4M | $158.4K | $924.2K | -$84.7K |
| EPS (Basic) | -$0.40 | - | - | - | - | - | - | $0.06 | -$0.12 | -$0.12 | -$6.03 | $0.14 | $0.01 | $0.01 | -$0.00 |
| EPS (Diluted) | -$0.40 | - | - | - | -$0.12 | $0.14 | - | $0.04 | -$0.12 | -$0.12 | -$2.03 | $0.14 | - | - | - |
| Shares Outstanding | 74.3M | 54.6M | 53.7M | 29.4M | 20.0M | 179.3K | 13.7M | 47.3M | 44.5M | 42.0M | 1.5M | 1.1M | 167.1M | 163.3M | 139.6M |
| Gross Margin | 3.1% | -7.6% | 79.7% | 14.4% | 14.4% | 19.4% | 19.4% | -234.7% | 70.0% | 100.0% | 16.2% | 52.3% | 100.0% | - | 100.0% |
| Operating Margin | -163.5% | -144.9% | -417.6% | - | - | - | - | -1979.0% | -117064.7% | - | -402.4% | -938.4% | -331.6% | - | -1115.0% |
| Profit Margin | -177.0% | -134.8% | -608.3% | -181.8% | -181.8% | -396.6% | - | -2514.3% | 120989.0% | - | -5972.0% | -17485.2% | 1870.7% | - | -1115.0% |