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  "documentTitle": "Red Cat Holdings, Inc. (RCAT)",
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  "authorName": "Kerrisdale Capital",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-01-09 00:00:00",
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      "text": "If you're keeping track, Red Cat: a) Went from consistently claiming – for years – that the total size of the program would be approximately a billion dollars to claiming it would be close to $350 million.",
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      "text": "Summary of Red Cat's shifting claims: program size from $1B to $350M; first-year revenue from $80M to $50-80M.",
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      "text": "revenue guidance: $350M",
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      "kind": "paragraph",
      "text": "Analysis debunking Red Cat's extrapolation logic by comparing it to actual Federal Procurement Data System records for Skydio's contract.",
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      "text": "Chronological list of earnings call quotes from July 2023 to December 2024 regarding SRR program revenue and drone counts.",
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      "text": "I'm not saying that this is going to be a $1.2 billion award, but I am saying, it's going to be significant. — September 19th, 2023 Earnings Call",
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