Red Cat Holdings, Inc.
For the period ended Mar 31, 2025. Filed May 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
RCAT$4.04+18.6%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024
Condensed Consolidated Balance Sheets
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash | $7,722,410 | $9,154,297 |
| Accounts receivable, net | 1,554,295 | 489,316 |
| Inventory | 13,854,548 | 12,950,941 |
| Prepaid inventory | 3,253,312 | 641,959 |
| Prepaid expenses and other | 3,027,923 | 2,561,744 |
| Total current assets | 29,412,488 | 25,798,257 |
| Goodwill | 17,671,065 | 17,671,065 |
| Intangible assets, net | 8,047,385 | 8,453,068 |
| Property and equipment, net | 1,971,940 | 1,880,709 |
| Other | 363,054 | 309,823 |
| Operating lease right-of-use assets | 2,189,916 | 1,491,345 |
| Total long-term assets | 30,243,360 | 29,806,010 |
| TOTAL ASSETS | $59,655,848 | $55,604,267 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | $1,518,980 | $2,049,519 |
| Accrued expenses | 1,193,353 | 1,240,115 |
| Debt obligations - short term | 350,000 | 350,000 |
| Customer deposits | 220,517 | 227,484 |
| Operating lease liabilities | 490,966 | 311,532 |
| Convertible notes payable - short term | 25,132,556 | — |
| Total current liabilities | 28,906,372 | 4,178,650 |
| Operating lease liabilities | 1,838,228 | 1,306,064 |
| Total long-term liabilities | 1,838,228 | 1,306,064 |
| Total liabilities | 30,744,600 | 5,484,714 |
| Commitments and contingencies (Note 18) | - | - |
| Stockholders’ equity | ||
| Series B preferred stock - shares authorized 4,300,000; issued and outstanding 4,676 and 4,676 | 47 | 47 |
| Common stock - shares authorized 500,000,000; issued and outstanding 85,647,618 and 85,215,136 | 85,648 | 85,215 |
| Additional paid-in capital | 176,693,607 | 174,778,994 |
| Accumulated deficit | (147,868,054) | (124,744,703) |
| Total stockholders’ equity | 28,911,248 | 50,119,553 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $59,655,848 | $55,604,267 |
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