Red cat holdings reports financial results from fiscal second quarter 2022 and provides corporate update

Humacao, puerto rico, dec. 20, 2021 /prnewswire/ -- red cat holdings, inc. (nasdaq: rcat) ("red cat" or "company"), a hardware-enabled software provider to the drone industry, reports its financial results for the fiscal quarter ended october 31, 2021 and provides a business update. second quarter 2022 financial highlights: revenues for the fiscal quarter ended october 31, 2021 were approximately $1.9 million, compared to approximately $428,000 for the same period in 2020, representing an increase of more than 300%   adjusted net loss for the quarter ended october 31, 2021, which excludes non-cash expenses, primarily related to stock-based compensation, was approximately $3 million, as compared to an adjusted net loss of approximately $640,000 for the fiscal quarter ended october 31, 2020   cash and investments were approximately $60 million as of october 31, 2021 recent corporate highlights: closed the acquisitions of teal drones   passage of infrastructure bill should benefit drone industry   teal opens new manufacturing facility in salt lake city, utah   skypersonic awarded contract with nasa (national aeronautics and space administration) "we made significant corporate progress on several fronts in our fiscal second quarter and saw record revenue that grew 336% year-over-year and 33% quarter-over-quarter.
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