Red Cat

Q2 FY2026 EarningsQ2 FY26 revenue was $20.2M, missing consensus of $22.6M despite a 527% YoY increase. Gross margin of 16.1% beat the expected 14.62%, supported by a sequential improvement of 27% from Q1 FY26. GAAP EPS was -$0.26, missing the consensus mean of -$0.214, primarily due to higher-than-expected operating expenses as the company scaled for the Drone Dominance program. Despite the quarterly revenue miss, management reaffirmed the full-year FY26 revenue guidance of $150M to $180M, signaling a steep H2 acceleration.