Red Cat Holdings' Black Widow and FlightWave Edge 130 drones selected for NDAA verification in Blue UAS Refresh.
Quiver AI Summary
Red Cat Holdings, Inc. announced that its Black Widow drone and FlightWave Edge 130 have been selected as winners in the Blue UAS Refresh, which includes 23 platforms and 14 unique components that will undergo NDAA verification and cybersecurity review for potential inclusion in the Blue UAS List. This recognition highlights Red Cat's commitment to providing NDAA-compliant unmanned systems for defense and government use. The Black Widow is designed for short-range reconnaissance, while the Edge 130 is versatile for medium-range ISR operations. CEO Jeff Thompson praised the DIU's commitment to U.S. drone manufacturing, emphasizing the importance of delivering reliable solutions to military and government agencies to address national security concerns.
Potential Positives
- The inclusion of Red Cat's Black Widow and FlightWave Edge 130 on the list of winners in the Blue UAS Refresh validates the company's commitment to providing NDAA-compliant unmanned systems, enhancing its reputation in military and government applications.
- The Black Widow drone's selection for the U.S. Army’s Short Range Reconnaissance Program of Record contract underscores its advanced capabilities and positions Red Cat favorably within the defense sector.
- Pursuant to the ongoing NDAA verification and cyber security review, Red Cat's platforms will be more readily accessible for procurement by the U.S. Department of Defense and federal agencies, streamlining procurement processes and facilitating rapid deployment.
- The company's partnership with Palantir to integrate Visual Navigation software into the Black Widow drones signifies a technological advancement and strengthens Red Cat's innovative edge in the drone market.
Potential Negatives
- Inclusion of the Black Widow and Edge 130 in the NDAA verification and cybersecurity review shows that regulatory compliance is ongoing, not yet finalized, potentially delaying their full market adoption.
- The reliance on the Blue UAS List for procurement suggests that the company may face challenges if the standards change or if its products do not meet future requirements.
- The mention of "forward-looking statements" indicates uncertainty in future performance and outcomes, which may raise concerns among investors about the company's long-term viability.
FAQ
What is the significance of Red Cat's inclusion in the Blue UAS Refresh?
Red Cat's Black Widow and FlightWave Edge 130 have been selected for NDAA verification, enhancing their credibility for military and government use.
How does the Blue UAS List affect drone procurement?
Inclusion in the list simplifies procurement for the U.S. Department of Defense and federal agencies, ensuring quicker field deployment.
What are the features of the Black Widow drone?
The Black Widow is designed for short-range reconnaissance, offering improved situational awareness and rugged performance in challenging environments.
What capabilities does the FlightWave Edge 130 provide?
The Edge 130 is a high-endurance VTOL drone suitable for medium-range intelligence, surveillance, and reconnaissance operations with modular payload systems.
Who can access Red Cat’s approved UAS products?
Red Cat's products are accessible to the U.S. Department of Defense, federal agencies, and allied partners pending inclusion in the updated Blue UAS List.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RCAT Insider Trading Activity
$RCAT insiders have traded $RCAT stock on the open market 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 have been sales.
Here’s a breakdown of recent trading of $RCAT stock by insiders over the last 6 months:
- GEORGE MICHAEL MATUS (CTO, Red Cat Holdings) has made 0 purchases and 5 sales selling 781,383 shares for an estimated $9,178,132.
- NICHOLAS REYLAND JR LIUZZA has made 0 purchases and 5 sales selling 628,928 shares for an estimated $6,243,376.
- JEFFREY M THOMPSON (Chairman of the Board, CEO) has made 0 purchases and 3 sales selling 500,000 shares for an estimated $5,737,057.
- LEAH LUNGER (Chief Financial Officer) has made 0 purchases and 2 sales selling 524,798 shares for an estimated $4,997,200.
- JOSEPH DAVID FREEDMAN has made 0 purchases and 5 sales selling 102,228 shares for an estimated $1,194,786.
- GEOFFREY WAYNE HITCHCOCK (Chief Revenue Officer) has made 0 purchases and 2 sales selling 113,823 shares for an estimated $1,188,386.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RCAT Hedge Fund Activity
We have seen 80 institutional investors add shares of $RCAT stock to their portfolio, and 37 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WADDELL & ASSOCIATES, LLC added 12,423,587 shares (+inf%) to their portfolio in Q4 2024, for an estimated $159,643,092
- AIGH CAPITAL MANAGEMENT LLC removed 4,920,601 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $12,498,326
- AWM INVESTMENT COMPANY, INC. removed 2,716,426 shares (-60.2%) from their portfolio in Q4 2024, for an estimated $34,906,074
- STATE STREET CORP added 1,814,201 shares (+817.4%) to their portfolio in Q4 2024, for an estimated $23,312,482
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 1,507,296 shares (+228.5%) to their portfolio in Q4 2024, for an estimated $19,368,753
- BLEICHROEDER LP removed 1,000,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $12,850,000
- BLACKROCK, INC. added 778,701 shares (+141.6%) to their portfolio in Q4 2024, for an estimated $10,006,307
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN JUAN, Puerto Rico, Feb. 24, 2025 (GLOBE NEWSWIRE) --
Red Cat Holdings, Inc.
(Nasdaq: RCAT) ("Red Cat" or the "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced that its Black Widow drone and FlightWave Edge 130 were included on the list of 23 platforms and 14 unique components and capabilities selected as winners of the Blue UAS Refresh. The platforms will undergo National Defense Authorization Act (NDAA) verification and cyber security review with the ultimate goal of joining the Blue UAS List.
Over the coming months, the Blue UAS List and Blue UAS Framework will expand with new additions. The inclusion of the Black Widow and Edge 130 as winners of the Refresh further validates Red Cat’s commitment to delivering NDAA-compliant unmanned systems for defense and government applications.
“We applaud the DIU’s ongoing diligence and focus on U.S. drone manufacturing,” said Jeff Thompson, Red Cat CEO. “The inclusion of both Teal’s Black Widow and FlightWave’s Edge 130 in the NDAA verification and cyber security review underscores our dedication to providing safe and secure solutions for the U.S. military and the warfighters that use them. As national security concerns around drone technology continue to grow, our systems ensure that the military and government agencies have access to reliable, mission-ready platforms.”
Teal’s Black Widow is Red Cat’s small unmanned aerial system (sUAS) designed for short-range reconnaissance (SRR) missions. The system, which was down selected for the U.S. Army’s SRR Program of Record contract, provides military operators with improved situational awareness, autonomous capabilities, and rugged performance in contested environments.
The company recently announced a partnership with Palantir
to integrate Visual Navigation software (VNav) into Red Cat’s Black Widow drones.
FlightWave’s Edge 130 is a high-endurance vertical takeoff and landing (VTOL) drone engineered for medium-range intelligence, surveillance, and reconnaissance (ISR) operations. Its modular payload system and extended flight capabilities make it a versatile asset for defense and government missions.
Inclusion in the review continues Red Cat’s legacy of having Blue listed solutions, including Teal 2 and Golden Eagle. Pending inclusion in the updated Blue UAS approved list, Red Cat’s drones can continue to be easily procured by the U.S. Department of Defense, federal agencies, and allied partners, eliminating lengthy waiver processes and ensuring rapid deployment to the field.
For more information on Red Cat’s approved Blue UAS products, visit
www.redcat.red
or the official DIU Blue UAS page at
www.diu.mil/blue-uas
.
About Red Cat Holdings, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a Family of Systems. This includes the Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed-wing VTOL for extended endurance and range, and FANG™, the industry's first line of NDAA-compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at
www.redcat.red
.
Forward Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.
Contact:
INVESTORS:
E-mail: Investors@redcat.red
NEWS MEDIA:
Phone: (347) 880-2895
Email:
peter@indicatemedia.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
