Live: Will Red Cat Beat Q4 Earnings After the Bell?

Well, Red Cat’s call is over, and there wasn’t much clarity on revenue guidance.

That might not lead to a significant sell-off, shares are down about 4%. However, it is a little curious. Red Cat had promised “a lot more detail” on where the year was going to go. I’m not sure there was much in the way of additional details today.

With the call concluded this will be our last update. We hope you’ve enjoyed tonight’s live blog and check back into 24/7 Wall St. whenever companies you own are reporting as we host hundreds of these with our analysts every quarter.

Red Cat’s call has now passed prepared statements. A few highlights:

• The belief that the company can build 100-plus USVs in 2026 as part of a content ramp into the 1000s
• USV will hit full-rate production tooling this month
• The company has received an LOR (letter of request) for the Black Widow drone from Ukraine
• On track to scale Black Widow drones to 1,000 per month in the first half of 2026
• USV boats on track to deliver in Q2

Importantly, we’re into Q&A without any guidance for 2026. Given what the company said at their Innovation Day, I figured we would get more commentary than the company has provided.

We’ll see if Wall Street’s Q&A sheds any more light on expectations for this year. Shares are now down 5%, likely in reaction to the lack of more guidance commentary for 2026.

If you’re on this blog, don’t hit that back button! We’ll be delivering updates during Red Cat’s conference call that starts in 5 minutes.

As a reminder, we expect guidance from the call to be the biggest driver where Red Cat shares trade tomorrow. 

One metric to watch at Red Cat is the company’s cash position. That stands at $167.9 million after last quarter.

The company raised $282 million from share issuances last year. As Red Cat scales sales this year, the question will be whether or not the company will look to potentially pad their balance sheet.

The more shares rise, the more attractive that option could be as the year progresses.

Red Cat shares are now down 1.5%. You can largely ignore this as noise. We’re waiting for more guidance on the company’s conference call.

That call begins at 4:30, and that’s when the real story begins. 

Here’s a few of the business highlights the company called out in their earnings release:

• 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.

Red Cat’s Q4 earnings are out, here are the key figures:

• EPS: -$.17 (expectations were a 15 cent loss)
• Revenue: $26.235 million (expectations were $23.92 million)

It’s important to note that Red Cat had pre-announced revenue and was on the high end of it.

Importantly, we expect guidance discussion on the company’s earnings call. Shares are little moved as investors are waiting for guidance.

We expect Red Cat to post earnings at 4:05 p.m. ET. That’s about 20 minutes away.

As a reminder, to receive updates all you have to do is simply stay on this page and they’ll post automatically.

We’ve got 30 minutes left in the trading day, and Red Cat shares are up 3% before their earnings tonight. The stock has seen shares fall from a daily high of $18.49 back to $17.53, but that follows general weakness.

The Dow Jones is down 1.5% and the Nasdaq is down 1.2%.

Looking at other smaller drone and autonomous plays today:

• Ondas is down 2.7%
• Kraken Robotics is down 4.6%
• Unusual Machines is down 1.5%

Red Cat hosted an innovation day at the end of February and had this to say:

“So just more housekeeping is we’re not going to be giving our own guidance today. This is not a numbers day. This is Innovation Day, but we report in about 19 days. We’ll be giving you a lot more detail on where we expect the year to go at the end of next month. Well, March 18, I think we’re right around there is when we’re reporting.”

This is to say, the big question in the investment community is what kind of guidance Red Cat has saved up tonight. We’ll find out in a little more than an hour.