Red Cat Slips After Drop in 2Q Revenue, Profit

Dow Jones
08/15
 

By Katherine Hamilton

 

Shares of Red Cat slid after the drone-technology company's revenue fell by half and its loss widened in the second quarter.

The stock fell 10%, to $8.42, on Friday. Shares have lost about a third of their value this year.

The Puerto Rican company, which serves both government and commercial robotic operations, said Thursday that sales fell 50%, to $3.2 million, in the quarter ended June 30.

Its loss widened to $13.3 million, or 15 cents a share, compared with a loss of $8.2 million, or 11 cents a share, the year before.

Total operating expenses more than doubled, with the largest increases in research-and-development and general-and-administrative costs.

 

Write to Katherine Hamilton at katherine.hamilton@wsj.com

 

(END) Dow Jones Newswires

August 15, 2025 11:35 ET (15:35 GMT)

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