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10-Q Filing

Red Cat Holdings, Inc. CIK: 748268 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001554795-22-000335
Period End Date 20220731
Filing Date 20220912
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance rcat0909form10q_htm.xml
Filing Contents
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Cash Cash $4.08M USD Point-in-time
Cash Cash $6.25M USD Point-in-time
Cash Cash $66.12M USD Point-in-time
Cash Cash $277.35K USD Point-in-time
Marketable securities Investments $44.79M USD Point-in-time
Marketable securities Investments $36.71M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $495.51K USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $929.87K USD Point-in-time
Inventory InventoryNet $4.58M USD Point-in-time
Inventory InventoryNet $3.90M USD Point-in-time
Other OtherAssetsCurrent $2.35M USD Point-in-time
Other OtherAssetsCurrent $2.69M USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Due from related party DueFromRelatedPartiesCurrent $31.85K USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Due from related party DueFromRelatedPartiesCurrent $13.40K USD Point-in-time
Total current assets AssetsCurrent $55.65M USD Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 53.75M shares Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 53.82M shares Point-in-time
Total current assets AssetsCurrent $51.18M USD Point-in-time
Goodwill Goodwill $25.14M USD Point-in-time
Goodwill Goodwill $25.14M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $2.64M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $2.70M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $511.69K USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.03M USD Point-in-time
Other OtherAssetsNoncurrent $57.03K USD Point-in-time
Other OtherAssetsNoncurrent $57.03K USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $926.50K USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.02M USD Point-in-time
Total long term assets AssetsNoncurrent $29.79M USD Point-in-time
Total long term assets AssetsNoncurrent $29.43M USD Point-in-time
TOTAL ASSETS Assets $85.08M USD Point-in-time
TOTAL ASSETS Assets $80.97M USD Point-in-time
Accounts payable AccountsPayableCurrent $937.36K USD Point-in-time
Accounts payable AccountsPayableCurrent $1.02M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $471.81K USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.08M USD Point-in-time
Debt obligations - short term ShortTermBorrowings $882.10K USD Point-in-time
Debt obligations - short term ShortTermBorrowings $956.90K USD Point-in-time
Due to related party DueToRelatedPartiesCurrent $37.20K USD Point-in-time
Due to related party DueToRelatedPartiesCurrent $40.06K USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $233.51K USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $437.93K USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $293.80K USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $292.00K USD Point-in-time
Warrant derivative liability DerivativeLiabilitiesCurrent $2.81M USD Point-in-time
Warrant derivative liability DerivativeLiabilitiesCurrent $1.70M USD Point-in-time
Warrant derivative liability DerivativeLiabilitiesCurrent $1.61M USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.44M USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.55M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $749.83K USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $669.93K USD Point-in-time
Debt obligations - long term LongTermDebtNoncurrent $973.71K USD Point-in-time
Debt obligations - long term LongTermDebtNoncurrent $835.72K USD Point-in-time
Total long term liabilities LiabilitiesNoncurrent $1.51M USD Point-in-time
Total long term liabilities LiabilitiesNoncurrent $1.72M USD Point-in-time
Series B preferred stock - shares authorized 4,300,000; outstanding 986,676 and 986,676 PreferredStockValueSeriesB $9.87K USD Point-in-time
Series B preferred stock - shares authorized 4,300,000; outstanding 986,676 and 986,676 PreferredStockValueSeriesB $9.87K USD Point-in-time
Common stock - shares authorized 500,000,000; outstanding 53,818,442 and 53,748,735 CommonStockValue $53.82K USD Point-in-time
Common stock - shares authorized 500,000,000; outstanding 53,818,442 and 53,748,735 CommonStockValue $53.75K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $106.82M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $107.49M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-27.50M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-31.31M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.34M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.47M USD Point-in-time
Total stockholders' equity StockholdersEquity $77.92M USD Point-in-time
Total stockholders' equity StockholdersEquity $5.27M USD Point-in-time
Total stockholders' equity StockholdersEquity $74.91M USD Point-in-time
Total stockholders' equity StockholdersEquity $77.22M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $85.08M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $80.97M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Revenues Revenues $1.40M USD 1 Quarter
Revenues Revenues $3.07M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $2.71M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $1.29M USD 1 Quarter
Gross margin GrossProfit $357.63K USD 1 Quarter
Gross margin GrossProfit $102.40K USD 1 Quarter
Operations OtherCostAndExpenseOperating $176.86K USD 1 Quarter
Operations OtherCostAndExpenseOperating $1.05M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $244.25K USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $532.77K USD 1 Quarter
Sales and marketing MarketingAndAdvertisingExpense $602.23K USD 1 Quarter
Sales and marketing MarketingAndAdvertisingExpense $100.63K USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.12M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $876.18K USD 1 Quarter
Stock based compensation ShareBasedCompensation $384.09K USD 1 Quarter
Stock based compensation ShareBasedCompensation $755.47K USD 1 Quarter
Total operating expenses OperatingExpenses $4.06M USD 1 Quarter
Total operating expenses OperatingExpenses $1.78M USD 1 Quarter
Operating loss IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-1.68M USD 1 Quarter
Operating loss IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-3.70M USD 1 Quarter
Change in fair value of derivative liability IncreaseDecreaseInDerivativeAssetsAndLiabilities $154.25K USD 1 Quarter
Change in fair value of derivative liability IncreaseDecreaseInDerivativeAssetsAndLiabilities $-92.92K USD 1 Quarter
Investment income, net InvestmentIncomeNet - USD 1 Quarter
Investment income, net InvestmentIncomeNet $130.30K USD 1 Quarter
Interest expense InterestExpense $17.10K USD 1 Quarter
Interest expense InterestExpense $35.69K USD 1 Quarter
Other, net OtherNonrecurringIncomeExpense $114.79K USD 1 Quarter
Other, net OtherNonrecurringIncomeExpense $15.31K USD 1 Quarter
Other expense (income) OtherNonoperatingIncomeExpense $121.84K USD 1 Quarter
Other expense (income) OtherNonoperatingIncomeExpense $-113.10K USD 1 Quarter
Net loss NetIncomeLoss $-3.81M USD 1 Quarter
Net loss NetIncomeLoss $-1.56M USD 1 Quarter
Loss per share - basic and diluted EarningsPerShareBasicAndDilutedRCAT $-0.05 USD 1 Quarter
Loss per share - basic and diluted EarningsPerShareBasicAndDilutedRCAT $-0.07 USD 1 Quarter
basic and diluted WeightedAverageNumberOfShareOutstandingBasicAndDilutedRCAT 53.78M shares 1 Quarter
basic and diluted WeightedAverageNumberOfShareOutstandingBasicAndDilutedRCAT 34.07M shares 1 Quarter
Cash Flow Statement 82 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-3.81M USD 1 Quarter
Net loss NetIncomeLoss $-1.56M USD 1 Quarter
Stock based compensation - options ShareBasedCompensationOptions $458.02K USD 1 Quarter
Stock based compensation - options ShareBasedCompensationOptions $187.49K USD 1 Quarter
Stock based compensation - restricted units StockAwardsNonEmployees $297.45K USD 1 Quarter
Stock based compensation - restricted units StockAwardsNonEmployees $196.59K USD 1 Quarter
Common stock issued for services IssuanceOfStockAndWarrantsForServicesOrClaims - USD 1 Quarter
Common stock issued for services IssuanceOfStockAndWarrantsForServicesOrClaims $192.00K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $56.16K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $16.33K USD 1 Quarter
Realized loss from sale of marketable securities RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments - USD 1 Quarter
Realized loss from sale of marketable securities RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments $10.68K USD 1 Quarter
Depreciation Depreciation - USD 1 Quarter
Depreciation Depreciation $28.27K USD 1 Quarter
Change in fair value of derivative IncreaseDecreaseInDerivativeLiabilities $-154.25K USD 1 Quarter
Change in fair value of derivative IncreaseDecreaseInDerivativeLiabilities $92.92K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-434.30K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $105.02K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-472.30K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-688.97K USD 1 Quarter
Other IncreaseDecreaseInOtherCurrentAssets $-2.00M USD 1 Quarter
Other IncreaseDecreaseInOtherCurrentAssets $-339.36K USD 1 Quarter
Operating lease right-of-use assets and liabilities RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $11.14K USD 1 Quarter
Operating lease right-of-use assets and liabilities RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability - USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $62.79K USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $-204.41K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-81.33K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-130.34K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-208.48K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-521.74K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.81M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.07M USD 1 Quarter
Cash acquired through acquisitions CashAcquiredFromAcquisition $13.50K USD 1 Quarter
Cash acquired through acquisitions CashAcquiredFromAcquisition - USD 1 Quarter
Purchases of property and equipment PaymentsToAcquireProductiveAssets $544.94K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquireProductiveAssets - USD 1 Quarter
Proceeds from maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities - USD 1 Quarter
Proceeds from maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $9.09M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireInvestments $889.94K USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireInvestments - USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $7.66M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $13.50K USD 1 Quarter
Proceeds from exercise of warrants ProceedsFromWarrantExercises1 $100.00K USD 1 Quarter
Proceeds from exercise of warrants ProceedsFromWarrantExercises1 - USD 1 Quarter
Payments under related party obligations RepaymentsOfRelatedPartyDebt $2.86K USD 1 Quarter
Payments under related party obligations RepaymentsOfRelatedPartyDebt $150.25K USD 1 Quarter
Payments under debt obligations RepaymentsOfDebt $114.17K USD 1 Quarter
Payments under debt obligations RepaymentsOfDebt $212.79K USD 1 Quarter
Payments of taxes related to equity transactions PaymentsForOtherTaxes - USD 1 Quarter
Payments of taxes related to equity transactions PaymentsForOtherTaxes $469.63K USD 1 Quarter
Proceeds from issuance of common stock, net ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from issuance of common stock, net ProceedsFromIssuanceOfCommonStock $70.07M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $69.90M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-685.28K USD 1 Quarter
Net increase in Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $2.16M USD 1 Quarter
Net increase in Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $65.84M USD 1 Quarter
Cash, beginning of period Cash $4.08M USD Point-in-time
Cash, beginning of period Cash $6.25M USD Point-in-time
Cash, beginning of period Cash $66.12M USD Point-in-time
Cash, beginning of period Cash $277.35K USD Point-in-time
Cash, end of period Cash $4.08M USD Point-in-time
Cash, end of period Cash $6.25M USD Point-in-time
Cash, end of period Cash $66.12M USD Point-in-time
Cash, end of period Cash $277.35K USD Point-in-time
Cash paid for interest InterestPaidNet $2.02K USD 1 Quarter
Cash paid for interest InterestPaidNet $36.08K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet - USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet - USD 1 Quarter
Fair value of shares issued in acquisitions StockIssued1 - USD 1 Quarter
Fair value of shares issued in acquisitions StockIssued1 $2.63M USD 1 Quarter
Conversion of derivative liability ConversionOfDerivativeLiability $163.14K USD 1 Quarter
Conversion of derivative liability ConversionOfDerivativeLiability - USD 1 Quarter
Unrealized gain on marketable securities OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent - USD 1 Quarter
Unrealized gain on marketable securities OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent $133.58K USD 1 Quarter
Indirect payment to related party IndirectPaymentToRelatedParty - USD 1 Quarter
Indirect payment to related party IndirectPaymentToRelatedParty $132.20K USD 1 Quarter
Shares withheld as payment of note receivable SharesWithheldAsPaymentOfNoteReceivable - USD 1 Quarter
Shares withheld as payment of note receivable SharesWithheldAsPaymentOfNoteReceivable $18.45K USD 1 Quarter
Taxes related to net share settlement of equity awards TaxesRelatedToNetShareSettlementOfEquityAwards $15.98K USD 1 Quarter
Taxes related to net share settlement of equity awards TaxesRelatedToNetShareSettlementOfEquityAwards - USD 1 Quarter
Conversion of preferred stock into common stock ConversionOfPreferredStockIntoCommonStock - USD 1 Quarter
Conversion of preferred stock into common stock ConversionOfPreferredStockIntoCommonStock $9.82K USD 1 Quarter
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Payments of Stock Issuance Costs PaymentsOfStockIssuanceCosts $5.96M USD 1 Quarter
Beginning balance, value StockholdersEquity $77.92M USD Point-in-time
Beginning balance, value StockholdersEquity $5.27M USD Point-in-time
Beginning balance, value StockholdersEquity $74.91M USD Point-in-time
Beginning balance, value StockholdersEquity $77.22M USD Point-in-time
Acquisition of Skypersonic StockIssuedDuringPeriodValueAcquisitions1 $2.63M USD 1 Quarter
Public offerings, net of $5,959,800 of issuance costs StockIssuedDuringPeriodValueNewIssues $70.04M USD 1 Quarter
Exercise of warrants ProceedsFromWarrantExercises $263.14K USD 1 Quarter
Conversion of preferred stock StockIssuedDuringPeriodValueConversionOfConvertibleSecurities - USD 1 Quarter
Stock based compensation StockIssuedDuringPeriodValueShareBasedCompensation $755.47K USD 1 Quarter
Stock based compensation StockIssuedDuringPeriodValueShareBasedCompensation $384.02K USD 1 Quarter
Vesting of restricted stock SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue2 $63.00 USD 1 Quarter
Vesting of restricted stock SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue2 $84.08K USD 1 Quarter
Shares issued for services StockIssuedDuringPeriodValueIssuedForServices $192.00K USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $352.00 USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $922.00 USD 1 Quarter
Net Loss NetIncomeLoss $-3.81M USD 1 Quarter
Net Loss NetIncomeLoss $-1.56M USD 1 Quarter
Vesting of restricted stock units SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue2 $63.00 USD 1 Quarter
Vesting of restricted stock units SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue2 $84.08K USD 1 Quarter
Unrealized gain on marketable securities MarketableSecuritiesUnrealizedGainLoss $133.58K USD 1 Quarter
Ending balance, value StockholdersEquity $77.92M USD Point-in-time
Ending balance, value StockholdersEquity $5.27M USD Point-in-time
Ending balance, value StockholdersEquity $74.91M USD Point-in-time
Ending balance, value StockholdersEquity $77.22M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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