r/RedCatHoldings

"Short-Range Reconnaissance (SRR). The SRR program (see Figure 1) is the Army’s first program of record for a small quadcopter drone for Army platoons. The Army’s requirements are for a drone that weighs less than 5 pounds and is able to fly for 30 minutes. The Army’s current selections for the SRR system are the Skydio X10D and the Teal Drones’ Black Widow."

1.The election of five nominees as directors to hold office until the 2027 Annual Meeting of Stockholders, or until their successors are duly elected and qualified;

2.The ratification of the appointment of KPMG as our independent registered public accounting firm for the fiscal year ending December 31, 2026;

3.A non-binding advisory vote to approve the compensation of our Named Executive Officers;

and

4.Other business that may properly come before the Annual Meeting.

https://www.sec.gov/Archives/edgar/data/748268/000162828026028755/rcat-20260430.htm

In November 2024, Teal was selected as a winner of the U.S. Army’s Short Range Reconnaissance (SRR) Program

of Record. The production selection was made after a test and evaluation process of Teal’s next generation sUAS, completed

by the Army Project Management Office for Uncrewed Aircraft Systems, Army Maneuver Battle Lab, Army Test and

Evaluation Command, and Army Operational Test Center. Teal products include the Black Widow™, which enables swift

adaptation to mission requirements, including SRR with selectable integrated AI software capabilities. The system is purpose-

built for defense and security and designed to increase survivability for the war fighter. Teal 2 is another SRR product whose

primary application encompasses combat soldiers, police officers, firefighters, wildlife managers, and industrial inspectors rely

on the Teal 2 to achieve mission success.

....

Consolidated revenues totaled $40.7 million during the year ended December 31, 2025 (or the “2025 Period”) compared to

$4.9 million during the eight months ended December 31, 2024 (or the “Transition Period”) and compared to $17.8 million

during the year ended April 30, 2024 (or the “2024 Period”). This represents an increase of $35.8 million, or 739% compared

to the Transition Period and an increase of $22.9 million, or 128% compared to the 2024 Period. The increase compared to

both periods is attributable primarily to increased revenue associated with the commencement and scaling of drone deliveries

to the U.S. Army under the SRR program.