BUZZ-Drone technology firm Red Cat falls after Q2 results

Reuters

2024-12-17

BUZZ-Drone technology firm Red Cat falls after Q2 results

** Shares of Red Cat Holdings RCAT.O down 15% to $8.88 early Tues after reporting wider Q2 loss and lower sales

** San Juan, Puerto Rico-based drone technology firm late Mon posted loss of $13.3 mln, or 18 cents/sh, vs $5.8 mln, or 11 cents/sh a yr ago

** Sales in qtr ended-Oct declined 61% yr/yr to $1.5 mln

** For fiscal 2025, it projected sales of $80-$120 mln including short-range reconnaissance-related sales

** In Sept, co had guided for sales of $50-$55 mln, exclusive of government or NATO programs of record

** RCAT shares on Mon jumped 27% to close at $10.45 after co announced strategic partnership with Palantir Technologies PLTR.N

** Last month, co's Black Widow drones were selected for the U.S. Army's short range reconnaissance program

** With move on Tues, RCAT shares tripled over the past three months. Stock ended 2023 at 88 cents

** Just 2 brokerages cover RCAT: Ladenburg rates "strong buy" with $9 PT and ThinkEquity has "buy" with $5 PT, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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Stock ended 2023 at 88 cents\n  </p><p>\n    ** Just 2 brokerages cover RCAT: Ladenburg rates \"strong buy\" with $9 PT and ThinkEquity has \"buy\" with $5 PT, per LSEG data\n  </p><p>(Lance Tupper is a Reuters market analyst. The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Drone technology firm Red Cat falls after Q2 results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBUZZ-Drone technology firm Red Cat falls after Q2 results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-12-17 22:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Drone technology firm Red Cat falls after Q2 results</title></head><body><p>**  Shares of Red Cat Holdings <span>RCAT.O</span> down 15% to $8.88 early Tues after reporting wider Q2 loss and lower sales</p><p>\n    ** San Juan, Puerto Rico-based drone technology firm late Mon posted loss of $13.3 mln, or 18 cents/sh, vs $5.8 mln, or 11 cents/sh a yr ago\n  </p><p>\n    \n      ** Sales in qtr ended-Oct declined 61% yr/yr to $1.5 mln\n    \n  </p><p>\n    \n      ** For fiscal 2025, it projected sales of $80-$120 mln including short-range reconnaissance-related sales\n    \n  </p><p>\n    \n      \n        ** In Sept, co had guided for sales of $50-$55 mln, exclusive of government or NATO programs of record\n      \n    \n  </p><p>\n    \n      \n        ** RCAT shares on Mon jumped 27% to close at $10.45 after co <span>announced </span>\n<span>strategic partnership</span> with Palantir Technologies <span>PLTR.N</span>\n</p><p>\n    ** Last month, co's Black Widow drones <span>were selected</span> for the U.S. Army's short range reconnaissance program\n  </p><p>\n    ** With move on Tues, RCAT shares tripled over the past three months. Stock ended 2023 at 88 cents\n  </p><p>\n    ** Just 2 brokerages cover RCAT: Ladenburg rates \"strong buy\" with $9 PT and ThinkEquity has \"buy\" with $5 PT, per LSEG data\n  </p><p>(Lance Tupper is a Reuters market analyst. The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241217:nL6N3NI0HZ:1","article_id":"2492963675","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492963675","pubTimestamp":1734446089,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Drone technology firm Red Cat falls after Q2 results**  Shares of Red Cat Holdings RCAT.O down 15% to $8.88 early Tues after reporting wider Q2 loss and lower sales. ** San Juan, Puerto Rico-based drone technology firm late Mon posted loss of $13.3 mln, or 18 cents/sh, vs $5.8 mln, or 11 cents/sh a yr ago. ** Sales in qtr ended-Oct declined 61% yr/yr to $1.5 mln. ** For fiscal 2025, it projected sales of $80-$120 mln including short-range reconnaissance-related sales. ** In Sept, co had guided for sales of $50-$55 mln, exclusive of government or NATO programs of record. ** RCAT shares on Mon jumped 27% to close at $10.45 after co announced. ** Last month, co's Black Widow drones were selected for the U.S. Army's short range reconnaissance program. ** With move on Tues, RCAT shares tripled over the past three months. Stock ended 2023 at 88 cents. ** Just 2 brokerages cover RCAT: Ladenburg rates \"strong buy\" with $9 PT and ThinkEquity has \"buy\" with $5 PT, per LSEG data","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"嗡嗡声——无人机技术公司红猫在第二季度业绩公布后股价下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLTR":0.9,"RCAT":0.9},"content_text":"BUZZ-Drone technology firm Red Cat falls after Q2 results**  Shares of Red Cat Holdings RCAT.O down 15% to $8.88 early Tues after reporting wider Q2 loss and lower sales\n    ** San Juan, Puerto Rico-based drone technology firm late Mon posted loss of $13.3 mln, or 18 cents/sh, vs $5.8 mln, or 11 cents/sh a yr ago\n  \n    \n      ** Sales in qtr ended-Oct declined 61% yr/yr to $1.5 mln\n    \n  \n    \n      ** For fiscal 2025, it projected sales of $80-$120 mln including short-range reconnaissance-related sales\n    \n  \n    \n      \n        ** In Sept, co had guided for sales of $50-$55 mln, exclusive of government or NATO programs of record\n      \n    \n  \n    \n      \n        ** RCAT shares on Mon jumped 27% to close at $10.45 after co announced \nstrategic partnership with Palantir Technologies PLTR.N\n\n    ** Last month, co's Black Widow drones were selected for the U.S. Army's short range reconnaissance program\n  \n    ** With move on Tues, RCAT shares tripled over the past three months. Stock ended 2023 at 88 cents\n  \n    ** Just 2 brokerages cover RCAT: Ladenburg rates \"strong buy\" with $9 PT and ThinkEquity has \"buy\" with $5 PT, per LSEG data\n  (Lance Tupper is a Reuters market analyst. The views expressed are his own)((lance.tupper@tr.com 1-646-279-6380))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}