$RCAT --- $RCAT started out as a consumer drone data firm, but has completed a full strategic pivot to the defense sector in recent years. Its flagship assets are as follows: The company’s standout flagship product, primarily deployed for frontline tactical intelligence, surveillance and reconnaissance (ISR). It fully complies with the U.S. Pentagon’s Blue UAS certification standards.Teal Drones (Black Widow) This division expands the company’s footprint into multi-domain operations. Its newly developed Variant 7 unmanned surface vessel (USV) has successfully penetrated the U.S. Navy and coastal defense markets.FlightWave / BlueOps (Unmanned Maritime Vessels) 1. Transition From Small-Scale R&D to Industrial-Scale Manufacturing In modern warfare, production capacity equals combat capability. RCAT has aggressively ramped up its manufacturing footprint: BlueOps expanded to 166,000 square feet, while FlightWave grew to 51,000 square feet. Its total production space has surged 520% over the past year, building robust industrial capacity to secure multi-billion-dollar defense contracts. 2. Diversified Revenue Streams Mitigate Single-Project Risks Investors previously worried RCAT relied too heavily on the U.S. Army’s Short Range Reconnaissance (SRR Tranche 2) contract, which faces fierce competition from Skydio. That concern has faded in May: full-rate production approval for the Variant 7 USV, plus consecutive international orders from NATO and Japan Ground Self-Defense Force, prove RCAT maintains an extensive global sales pipeline without depending on exclusive U.S. military single contracts. 3. Deployment of Multi-Domain Swarming AI Technology Future warfare centers on coordinated swarms of hundreds of drones and unmanned vessels, rather than individual platforms. Through the acquisition of Apium, RCAT has acquired autonomous swarm control technology. Its combined lineup — Black Widow drones, FANG first-person-view loitering munitions and Variant 7 USVs — enables cross-domain sea-air collaboration. This low-cost, multi-domain solution is highly rare across the current market.

We recruit specialists that are ATHLETES at @CitadelFootball! Congrats @JackWeil_Kicker for placing in Javelin at @SoConSports Track meet! #BombSquad #BlueOps

This journey is just getting started. @JamesPlatte1 took the coaching, put in the work, and his teammates went all in to allow his work to stand out! #TipOfTheSpear #BlueOps

Newest representative of @CitadelFootball in the NFL! 2 years ago, @JamesPlatte1 and I set goals to get to this point: All-American ✅ FCS Punter of the Year ✅ Best punter in school history ✅ CONGRATULATIONS my man! You’re built for this!!! #BlueOps #TipOfTheSpear

Yall thought @CitadelFootball was a force to be reckoned with before…WAIT UNTIL YOU SEE WHAT WE ARE WORKING WITH NOW!!! GIMME 2 CLAPS!!! We don’t REBUILD…WE RELOAD!!! #TipOfTheSpear #BlueOps #BombSquad

I mentioned that I believe what caused $RCAT to tank a bit other than overall market conditions was the fact that there’s currently no guidance… The market generally sees this as a risk when a business fails to create a metric if expectation for future monetary gain However, there’s a TON of validity as to why they went with this approach RCAT already won the Army’s SRR Program of Record. That’s probably the hardest part 😅 What they’re waiting on now isn’t validation, it’s the budget unlock and as you can imagine, “with everything going on..” it’s been extremely daunting to do Right now they’re in LRIP (low-rate initial production), meaning they’re building and shipping units, just not at full scale yet The holdup is simple: the Army hasn’t released full-rate production funding due to continuing resolutions and budget timing. Likely because of war, mixed geopolitics, pentagon, etc It’s hard to appropriately measure for risk when the army is currently in tactics mode in real time with major risk On another note, let’s also take a look at what we know about the business’s ability to scale at the moment: Manufacturing? 254,000 sq. ft. across Teal, FlightWave, and BlueOps facilities. Output capacity? Aiming for 1,000 Black Widow drones per month by mid-2026. USV rumors? Their new BlueOps division is targeting 100 vessels in 2026, with capacity for thousands. Cash concerns? $150 M’s There’ll likely only be 10-12 drone companies capturing a significant share of the TAM in America, RCAT plans to capture their share by creating tactical solutions

$RCAT Great potential Fourth Quarter and Full-Year 2025 Financial Highlights ✅Fourth quarter 2025 total revenue was $26.2 million, representing an increase of 1,985% or $24.9 million from $1.3 million in the prior year. ✅Fourth quarter 2025 total revenue increased sequentially by 172% to $26.2 million. ✅Full-year 2025 total revenue was $40.7 million, representing an increase of 161% or $25.1 million from $15.6 million in the prior year. Business Highlights Secured new orders for Black Widow™ drones from an Asia-Pacific ally. This is the second Asia-Pacific ally to recently order Black Widow systems for military use. Across divisions, Red Cat expanded BlueOps to 166,000 sq. ft., expanded FlightWave to 51,000 sq. ft., expanded Teal to 37,000 sq. ft. Red Cat achieved total capacity of 254,000 sq. ft. as of December 31, 2025. Red Cat’s Innovation Day on February 27, 2026 showcased its transformation into a true multi‑domain autonomous defense platform, highlighted by the launch and live demonstration of its new USVs operating seamlessly with Black Widow drones, and reinforced by massive manufacturing scale‑up efforts across air and maritime systems.

Recall $RCAT pre announced $24-$26.5M mid Jan. And the past is not what matters at this point but here are the numbers. No guide as expected; lots of cash and they are ready to ship. Now need the orders. Conf call I'll deep dive tonight. --------- Fourth quarter 2025 total revenue was $26.2 million, representing an increase of 1,985% or $24.9 million from $1.3 million in the prior year. Fourth quarter 2025 total revenue increased sequentially by 172% to $26.2 million. Full-year 2025 total revenue was $40.7 million, representing an increase of 161% or $25.1 million from $15.6 million in the prior year. Business Highlights Secured new orders for Black Widow™ drones from an Asia-Pacific ally. This is the second Asia-Pacific ally to recently order Black Widow systems for military use. Across divisions, Red Cat expanded BlueOps to 166,000 sq. ft., expanded FlightWave to 51,000 sq. ft., expanded Teal to 37,000 sq. ft. Red Cat achieved total capacity of 254,000 sq. ft. as of December 31, 2025. Red Cat’s Innovation Day on February 27, 2026 showcased its transformation into a true multi‑domain autonomous defense platform, highlighted by the launch and live demonstration of its new USVs operating seamlessly with Black Widow drones, and reinforced by massive manufacturing scale‑up efforts across air and maritime systems. Strengthened ecosystem of defense partners - including an expanded partnership with AeroVironment and established a new partnership with Redwire - to integrate Black Widow™ and FANG™ into broader mission-system architectures, enhancing interoperability, modularity, and deployment flexibility. “2025 was a transformative year for Red Cat as we strengthened our position as a trusted provider of advanced drone solutions for defense and government customers,” said Jeff Thompson, CEO of Red Cat. “We delivered year-over-year revenue growth of 161%, launched our FANG™ FPV platform, and expanded our Army relationship, and received our first order for 100 Black Widows through the NSPA - a major milestone that underscores growing international demand for our products." "Our continued and deliberate investments in innovation, manufacturing scale, and strategic partnerships are delivering tangible results. At our inaugural Innovation Day last month, we discussed how well-positioned we remain to rapidly scale production across drones and USVs - which are supported by our major facility expansions in order to capitalize on the expanding addressable market across multi-domain defense." "As we head into 2026, we continue to see strong momentum in customer engagement and contract activity, validating both our technology roadmap and our long‑term growth strategy. Our focus is clear: scaling production capacity to meet surging demand, advancing our autonomy roadmap, and expanding our customer base both domestically and with allied nations. We're not just responding to market opportunities - we're defining the future of American-made tactical drone systems. This is an exciting phase for Red Cat as we turn innovation into scale and opportunity.” Balance Sheet Cash at December 31, 2025 totaled $167.9 million, compared to $9.2 million at December 31, 2024. ir.redcatholdings.com/news-e…

As tensions rise in StraitOfHormuz w/ Iranian mining threats, US Navy's minesweeper gap is dire. LCS unreliable-USVs key: unmanned for mine hunt, strikes& ISR,sailor-safe. $RCAT leads w/ BlueOps USVs: speed/stealth, modular payloads, drone integration. Battle-tested for dominance

Introducing BlueOps Variant 7 $RCAT

Thankful for the opportunity! @CitadelFootball #FourPillars #CodeBlue #BlueMagic #BlueOps

TOP DAWG of #BlueOps IYKYK! @RhyderPoppell GIMME 2 CLAPS!!! #TipOfTheSpear

Today is the day! Ready to teach some ball today! Come check me out at noon! #TipOfTheSpear #BlueOps

Extremely excited! Come check it out! High energy session on deck! #TipOfTheSpear #BlueOps

Live look when I see ST Coordinators getting some props and respect! We’re DIFFERENCE MAKERS and TEAM CULTURE BUILDERS! #TipOfTheSpear #BlueOps #EOD

Excited about the opportunity to represent @CitadelFootball and present in front of my coaching peers at this year’s @WeAreAFCA! It’s going to be HIGH ENERGY! It’s the only way I know how to talk about Special Teams play! #BlueOps #EOD #TipOfTheSpear

2x All-Conference ✅ Multiple All-American lists ✅ #1 & #2 season avg holder ✅ Career average holder ✅ FCS Punter of the Year ✅ We set out 2 years ago that @CitadelFootball had the best Punter in the country. MISSION ACCOMPLISHED! Congrats @JamesPlatte1 #EOD #BlueOps

Red Cat ( $RCAT ) might be the highest-beta beneficiary. TD-3 contract likely upsized Black Widow won “Best in Show” for security Their drones are being paired with long-range recon systems BlueOps is positioned to scale in FY26 Their Magura USV alignment is insane validation This is a pure-play drone acceleration bet.

There are mission proved solutions in the market and are NOT @Saronic , they had severe software issues and the vessel crashed. BlueOps from @RedCatHoldings are battle-testd with more than 10000 hours of use.