Carlo Corzine's questions to Red Cat Holdings Inc (RCAT) leadership • Q1 2025
Question
Carlo Corzine of Dawson James Securities questioned the relationship between potential NATO orders and the SRR contract, asking if they were interdependent. He also asked when FlightWave's financials would be consolidated and why the company chose a calendar year-end over the government's fiscal year.
Answer
Executive Jeffrey Thompson clarified that SRR and NATO contracts are not dependent on each other and that the company is close to initial orders from some NATO allies. Executive Leah Lunger stated that FlightWave's financials will be included in the next quarterly report. Both executives explained the shift to a calendar year provides better visibility, as government contract funding and finalization often occur in the December-January timeframe, despite the government's fiscal year ending in September.