Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $204K | $933.00 | $105K | — | $404K | $5.00M | $6.43M | $1.31M | $17.8M | $40.7M |
| Revenue growth | — | -99.5% | 11167.8% | — | — | 1137.7% | 28.6% | -79.6% | 1259.0% | 128.4% |
| Gross profit | $204K | $653.00 | -$247K | — | $78.6K | $1.07M | $926K | -$834K | $3.68M | $1.27M |
| Gross margin | 100.0% | 70.0% | -234.7% | — | 19.4% | 21.4% | 14.4% | -63.6% | 20.6% | 3.1% |
| Operating income | -$1.45M | -$1.09M | -$2.08M | -$751K | -$1.66M | — | — | -$26.4M | -$19.3M | -$66.6M |
| Operating margin | -713.2% | -117064.7% | -1979.0% | — | -410.7% | — | — | -2009.8% | -108.2% | -163.5% |
| Net income | -$3.38M | $1.13M | -$2.64M | -$751K | -$1.60M | -$13.2M | -$11.7M | -$28.1M | -$24.1M | -$72.1M |
| Net margin | -1658.2% | 120989.0% | -2514.4% | — | -396.6% | -264.7% | -181.8% | -2141.6% | -134.9% | -177.0% |
| EPS (diluted) | -$0.12 | $0.04 | -$0.02 | $0.14 | -$0.12 | -$0.56 | — | — | -$0.40 | -$0.73 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.59M | -$1.44M | -$944K | -$753K | -$812K | -$1.40M | -$16.0M | -$24.3M | -$17.7M | -$89.1M |
| Capital expenditures | $8.74K | — | $974K | — | — | — | $364K | $2.45M | $259K | $6.65M |
| Free cash flow | -$1.60M | — | -$1.92M | — | — | — | -$16.4M | -$26.8M | -$18.0M | -$95.8M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $225K | $559K | $5.79K | — | — | $277K | $4.08M | $3.17M | $6.07M | — |
| Total assets | $583K | $750K | $262K | $603K | $2.81M | $11.7M | $85.1M | $60.7M | $55.6M | $274M |
| Total liabilities | $4.43M | $2.61M | $2.77M | — | — | — | — | — | $5.49M | $27.8M |
| Long-term debt | — | — | — | — | — | — | $974K | $402K | — | — |
| Shareholders' equity | -$3.87M | -$3.36M | $514K | -$187K | $1.53M | $5.27M | $79.1M | $54.8M | $43.6M | $246M |
| Retained earnings | -$3.87M | -$2.74M | -$5.38M | -$972K | -$2.57M | -$15.8M | -$27.5M | -$57.1M | -$125M | -$197M |
| Shares (wtd avg diluted) | 42.0M | 69.7M | 197M | 179K | 20.0M | 29.4M | 53.7M | 54.6M | 60.1M | 99.0M |
Every figure is extracted from Red Cat Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.