What sector is RCAT in?

Red Cat Holdings, Inc. is classified under GICS Industrials (Aerospace & Defense).

What is RCAT's last close price?

RCAT last closed at $4.04 on 2026-11-06.

RCAT

Red Cat Holdings, Inc. stock

Industrials · Aerospace & Defense

$4.04last close

-53.1%~252d

Price

-53.13% over 1Y

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Thesis

as of 2026-11-08

Bull case

Structural: SRR Tranche 2 prime - Teal 2 won the sole-source US Army program of record in 2024, ceiling-value 5,880 units over 5 years. NDAA Section 848 + DJI ban tailwind forces all DoD + allied buyers off Chinese sUAS onto Blue UAS-listed primes; RCAT is one of ~3 credible US small-drone OEMs at scale.

SRR ramp visibility - backlog stepped from <$10M to $80M+ post-Army award; FlightWave Edge 130 won SOCOM tranche separately
Vertically integrated post-Teal acquisition; Salt Lake City production scaling from ~100/mo to ~1,000/mo
Optionality on Army Future Tactical UAS (FTUAS), Marines, USCG, Ukraine, NATO follow-on buys
ITAR-clean cap table + Blue UAS list = the only DoD-procurable peer set is $AVAV, $KTOS, $ONDS
Cash runway extended via 2026 equity raises; no near-term going-concern overhang

Bear case

Gross margins still negative at production ramp; opex absorbs SRR revenue for now
Customer concentration - Army SRR is the entire bull case; delivery slip or unit cut craters the multiple
Heavy share count growth (89M+); SRR unit economics must prove out before next raise
$AVAV Switchblade + $KTOS optionality could squeeze SRR follow-ons
Component supply chain (NDAA-compliant batteries, optics, comms) is thin and inflationary

US Army SRR Tranche 2 (2024) - sole-source production award for Teal 2; program of record, ceiling 5,880 systems over 5 years, est. $200M+ life-of-program
US Army SRR Tranche 1 (2022) - initial low-rate production, Teal 2 selected over Skydio + Parrot Anafi USA
USSOCOM Edge 130 (2025) - FlightWave tri-rotor VTOL tranche award for special-ops ISR
NATO + allied pipeline - Teal 2 + Edge 130 marketed to UK, Australia, Ukraine; specific orders undisclosed
Blue UAS / Blue sUAS list - both Teal 2 and Edge 130 cleared, unlocking all DoD + federal civilian buys

customersUS Army · US Special Operations Command · US Department of Defense

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Fibonacci levels Correlation matrix Learn the method

Top correlated252d co-movement

Recent news

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High-signal only

Key levels

$6.57
0.786 retr of 3.25->18.78 (52w) · 2026-11-06
Out of reach · reference only
-38.5%
$9.18
0.618 retr of 3.25->18.78 (52w) · 2026-11-06
Out of reach · reference only
-56.0%
$11.02
0.5 retr of 3.25->18.78 (52w) · 2026-11-06
Out of reach · reference only
-63.3%
$12.85
0.382 retr of 3.25->18.78 (52w) · 2026-11-06
Out of reach · reference only
-68.6%

Price has moved beyond every level on record here. They are kept as structural reference, not as an entry map.

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Facts

Exchange: US
Currency: USD
Market cap: $617M
Last update: 2026-11-06

Revenue (TTM)$72M

P/E -

P/S8.6×

Net margin-136.3%

Frequently asked questions

What sector is RCAT in?: Red Cat Holdings, Inc. is classified under GICS Industrials (Aerospace & Defense).
What is RCAT's last close price?: RCAT last closed at $4.04 on 2026-11-06.