| Market Capitalization (Millions $) |
1,190 |
| Shares
Outstanding (Millions) |
137 |
| Employees |
244 |
| Revenues (TTM) (Millions $) |
71 |
| Net Income (TTM) (Millions $) |
-97 |
| Cash Flow (TTM) (Millions $) |
-36 |
| Capital Exp. (TTM) (Millions $) |
14 |
Business Description
Red Cat continues to focus on developing a range of complementary goods and services to support the drone industrys continuing growth and maturing in both the business and consumer market sectors. Our methodical acquisition approach seeks firms with cutting-edge product offerings, innovative drone platforms, and intellectual property. We anticipate that government clients, such as military, public safety, and infrastructure, will be our most important revenue drivers following the integration of Teal Drones.
These efforts including refining the establishment of Enterprise and Consumer segments in order to sharpen the Companys focus on the unique opportunities in each sector of the drone industry. The Enterprise segment is focused on opportunities in the commercial sector and the military. Enterprise is building the infrastructure to manage drone fleets, fly and provide services remotely, and navigate confined industrial interior spaces and dangerous military environments. The Consumer segment is focused on enthusiasts and hobbyists which are expected to increase as drones become more visible and useful in our daily lives. Consumer provides a growing revenue base, strong brand visibility for the Company, and is an excellent source of professional pilots.
Enterprise Segment
The Enterprise Segment will focus on developing a hardware enabled software platform of services and solutions to government and commercial enterprises and the military. Drones enable businesses to complete many tasks and solve problems more efficiently, quicker, and at a lower cost and risk than traditional methods. The Companys Teal and Skypersonic subsidiaries will operate in this segment. The core business theme for the Enterprise segment is "Remotely Flying Drones Anywhere."
We have accumulated an array of software solutions which are enabled by our hardware platform of intelligent drones and digital video link. We believe our ability to remotely fly drones anywhere provides our customers with a significant reduction in labor, travel, and training costs when compared with any other enterprise system on the market.
The Enterprise Segment plans to engage key products and services from the Consumer Segment to fulfill its mission. In addition to the Fat Shark data link, a roster of professional pilots will be sourced through the large social media presence and network of Rotor Riot.
Teal Drones
Teal anchors the Enterprise Segment and is expected to drive the segment's revenues in fiscal 2023 and beyond. Founded by Thiel Fellow, George Matus in 2015, the company's first products were its Sport and Teal One consumer drones, the first of their kind to be manufactured in the United States. A Utah-based operation, Teal has since migrated to the enterprise and government sectors based on its Golden Eagle, a U.S. Department of Defense government-approved drone designed for reconnaissance, public safety, and inspection applications.
After the U.S. Army banned its forces from using Chinese-made quadcopters due to security risks (the drones' radio controls are unencrypted and the devices could potentially capture and store sensitive information that could be passed to the Chinese government) the U.S. Department of Defense began developing its own alternatives under a defense program known as Blue sUAS.
Teal is redefining what unmanned systems can achieve, providing superior aerial surveillance and awareness for inspections and short-range reconnaissance. The Golden Eagle resembles a consumer quadcopter but is made to military standards with secure, encrypted communications and advanced computing. The Golden Eagle also carries a high-quality thermal imaging system made by FLIR, a subsidiary of Teledyne Technologies. Teals open and modular platform allows a critical mass of applications to be developed and integrated for next-generation capabilities. Partners actively integrating technologies with Teal include Autonodyne, Tomahawk Robotics, and DroneLink.
Company Address: 2800 S West Temple South Salt Lake 84115 UT
Company Phone Number: 466-9152 Stock Exchange / Ticker: NASDAQ RCAT
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