Red Cat Holdings vs XTI Aerospace
Red Cat Holdings is the larger business, with $40.7m of revenue in fiscal 2025 against $22.5m for XTI Aerospace (1.8 times as much). XTI Aerospace grew faster (602.4% against 128.3%). Red Cat Holdings kept more of each dollar of sales as profit: a net margin of -177.0% against -305.7%.
| Latest fiscal year | Red Cat HoldingsRCAT, 2025 | XTI AerospaceXTIA, 2025 |
|---|---|---|
| Revenue | $40.7m | $22.5m |
| Revenue growth | 128.3% | 602.4% |
| Net income | −$72.1m | −$68.8m |
| Operating margin | — | — |
| Net margin | -177.0% | -305.7% |
| Return on equity | -49.8% | — |
| Free cash flow | −$95.8m | −$36.8m |
| Cash | — | $16.7m |
| Total debt | $4.9m | $15.9m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 244 | 105 |
| Market value | $689m | $39.2m |
| Price vs our value range | — | — |
| Moat score | 17 (Weak) | 28 (Weak) |
| Insider trades, 12 months | 0 buys, 8 sales | 0 buys, 0 sales |