Red Cat Holdings Stock Slides on Q2 Double Miss

Red Cat Holdings Inc (NASDAQ: RCAT ) reported second-quarter financial results after the market close on Thursday. Here’s a look at the key metrics from the report. Red Cat Holdings stock is feeling bearish pressure. Why is RCAT stock falling? Red Cat Q2 Earnings Highlights Red Cat reported second-quarter revenue of $20.19 million, missing analyst estimates of $22.79 million, according to Pro. The drone solutions company reported a second-quarter loss of 26 cents per share, missing analyst estimates for a loss of 22 cents per share. Total revenue was up 527% on a year-over-year basis, due to continued execution of a strategy to transform Red Cat into an all-domain autonomy platform for defense. “Revenue increased more than fivefold year-over-year as we scaled deliveries, expanded production capacity and continued to invest in technologies that enhance our competitive posit...