How much debt does Red Cat Holdings have?

Red Cat Holdings had total debt of $18.43M as of Dec 31, 2025, against $167.87M in cash and short-term investments. Its debt-to-equity ratio was 0.07. Total debt was $1.97M a year earlier.

What are Red Cat Holdings's total assets?

Red Cat Holdings reported total assets of $273.68M as of Dec 31, 2025, up 392.2% from $55.60M a year earlier. Total liabilities were $27.84M.

What is Red Cat Holdings's shareholders' equity?

Red Cat Holdings's shareholders' equity was $245.83M as of Dec 31, 2025, or about $2.05 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry.

Red Cat Holdings (RCAT) Balance Sheet: Assets & Liabilities

Red Cat Holdings Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Red Cat Holdings, Inc. (RCAT) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Jun 2025	Dec 2024	Jul 2024	Apr 2024	Apr 2023	Apr 2022	Jul 2021	Apr 2021	Apr 2020	Apr 2019	Dec 2017	Dec 2016
Current Assets
Cash and Cash Equivalents	167.87	9.15	9.15	6.07	6.07	3.17	4.08	0.28	0.28	0.24	0.50	0.56	0.23
Short-Term Investments	0.00	0.00	-	0.00	-	12.81	44.79	0.00	-	0.00	0.01	0.00	0.00
Cash & Short-Term Investments	167.87	9.15	9.15	6.07	6.07	15.99	48.88	0.28	0.28	0.24	0.50	0.56	0.23
Accounts Receivable	26.16	0.49	0.49	6.51	4.36	0.87	0.91	0.40	0.32	0.00	0.11	0.00	0.00
Inventory	23.45	12.95	12.95	8.01	8.61	8.92	3.90	0.36	0.36	0.08	-0.01	0.00	0.00
Other Current Assets	9.47	3.20	2.56	1.81	3.96	6.40	1.97	0.60	0.12	0.00	0.00	0.13	0.27
Total Current Assets	226.94	25.80	25.80	22.40	22.40	32.18	55.65	1.64	1.64	0.32	0.60	0.69	0.50
Non-Current Assets
Property, Plant & Equipment (Net)	20.92	3.37	3.37	3.82	3.82	4.25	1.53	0.00	-	0.00	0.09	0.03	0.04
Long-Term Investments	0.69	0.25	5.14	5.39	5.14	0.25	0.00	0.00	-	0.00	0.00	-0.01	0.00
Goodwill	17.67	17.67	17.67	9.09	9.09	17.01	25.14	8.02	8.02	2.47	0.01	0.00	0.00
Intangible Assets	6.92	8.45	8.45	3.79	3.79	6.89	2.70	2.03	2.03	0.02	0.00	0.00	0.00
Other Non-Current Assets	0.54	0.06	-	4.04	4.29	0.16	0.06	0.00	0.00	0.00	-0.01	0.05	0.04
Total Non-Current Assets	46.74	29.81	29.81	26.14	-	28.57	29.43	10.05	10.05	2.49	0.09	0.06	0.08
Total Assets	273.68	55.60	55.60	48.54	48.54	60.74	85.08	11.69	11.69	2.81	0.60	0.75	0.58
Current Liabilities
Accounts Payable	3.62	2.05	2.05	1.58	1.58	1.39	1.02	0.54	0.54	0.25	0.02	0.14	0.03
Short-Term Debt	5.88	0.66	0.35	0.95	0.75	1.08	1.25	0.27	0.27	0.12	2.06	1.46	0.00
Current Portion of Long-Term Debt	-	-	-	-	0.75	0.92	0.96	-	-	-	-	-	-
Accrued Liabilities	5.09	-	1.24	-	1.07	0.41	1.08	-	0.61	-	-	-	-
Deferred Revenue	0.26	0.23	0.23	0.05	0.05	0.16	0.44	0.05	0.05	0.04	0.00	0.44	0.00
Other Current Liabilities	5.09	1.24	-	1.07	-	1.42	2.73	3.82	2.81	0.42	-1.29	0.36	0.00
Total Current Liabilities	14.85	4.18	4.18	3.65	3.65	4.05	5.44	4.67	4.67	0.83	0.79	2.41	0.03
Non-Current Liabilities
Long-Term Debt	12.56	1.31	1.31	1.32	-	1.88	2.47	1.75	1.75	0.45	0.00	0.00	0.00
Deferred Tax Liabilities	0.44	0.00	-	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	-	0.00	-	0.04	-0.75	0.00	-	0.00	0.08	1.70	5.89
Total Non-Current Liabilities	13.00	1.31	1.31	1.32	1.32	1.93	1.72	1.75	1.75	0.45	0.08	1.70	5.89
Total Liabilities	27.85	5.49	5.49	4.97	4.97	5.98	7.16	6.43	6.43	1.28	0.79	4.11	5.93
Stockholders' Equity
Common Stock	0.12	0.09	0.09	0.07	0.07	0.05	0.05	0.03	0.03	0.02	0.24	0.05	0.04
Retained Earnings	-196.82	-124.75	-124.75	-81.13	-81.13	-57.08	-27.50	-15.81	-15.81	-2.57	-5.67	-2.74	-3.87
Accumulated Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	-0.86	-1.47	0.00	-	0.00	-1.86	-0.04	-0.02
Additional Paid-in Capital	442.53	174.78	174.78	124.62	-	112.64	106.82	21.03	21.03	4.04	2.64	-0.63	-1.49
Shares Outstanding	120.07	-	85.22	-	-	54.57	53.75	-	29.43	-	-	-	-
Total Stockholders' Equity	245.83	50.12	50.12	43.56	43.56	54.77	77.92	5.27	5.27	1.53	-2.78	-3.36	-5.34
Total Liabilities & Equity	273.68	55.60	55.60	48.54	-	60.74	85.08	11.69	11.69	2.81	0.60	0.75	0.58

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Red Cat Holdings Balance Sheet Analysis

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