Red Cat reports Q3 EPS (16c), consensus (10c)

Reports Q3 revenue $9.65M, consensus $8.18M. “Our record-breaking third quarter revenue and the expansion of our contract with the U.S. Army clearly demonstrates the accelerating adoption of our specialized solutions within the defense and national security sectors,” said Jeff Thompson, CEO of Red Cat (RCAT). “We are seeing significant returns on our focused strategy, with our products being validated by major government agencies and NATO allies and necessitating the recent 2x expansion of our drone manufacturing facilities. This expansion allows us to deliver speed and volume at scale to the Department of War and U.S. Allies through FMS. Also, the recent launch of our USV division, Blue Ops, and the lease of our 155,000 sq foot vessel building facility positions us to be the leader of delivering critical unmanned systems for use over land and sea.”