Red Cat Holdings Inc (RCAT)

[DrStevens]

Drone Sales Surge for Red Cat Holdings
Red Cat Holdings sees 68% growth in April drone sales

https://www.prnewswire.com/news-releases/drone-sales-surge-for-red-cat-holdings-301081014.html - There is a video too.

ORLANDO, Fla., June 22, 2020 /PRNewswire/ -- Red Cat Holdings, Inc., a Nevada corporation (the "Company" or "Red Cat") (OTC Pink: RCAT), a provider of products and solutions to the drone industry, announced today that its Rotor Riot eCommerce store has experienced high growth since Red Cat's acquisition of Rotor Riot, LLC ("Rotor Riot") several months ago. Specifically, the Company recognized a 68% revenue increase on sales of drones and drone parts in April, compared to March.

Rotor Riot is a hobby-based drone company focused on sales of high-performance drone parts and creation of original YouTube content. On January 23, 2020, Rotor Riot merged with Red Cat, a public company investing in the future of drones.

Since January 2020, Rotor Riot has seen a 32% increase in total sales; a 28% increase in online store sessions; a 51% returning customer rate; and a 70% increase in average order value. This underscores the value of eCommerce, even in a difficult economic climate.

Jeff Thompson, CEO of Red Cat said: "It is great to see Rotor Riot continue to develop in such a unique way. Since taking over their own fulfillment in September, Rotor Riot has been able to apply more focus to its vision of providing complete performance drones. This new autonomy has led to the best sales month in company history. We believe the Rotor Riot and Red Cat partnership will continue to rapidly grow."

As it stands, Rotor Riot and Red Cat are working on a troubleshooting platform intended to help drone pilots fix and enhance the performance of their drones. Rotor Riot's team of specialists and Red Cat's DroneBox software are being pooled together for the project.

Red Cat is also currently working on a secure blockchain-centered distributed storage, analytics, and software package for the service drone industry.

With the drone market poised to be among the fastest growing tech markets, more and more people of all ages are buying drones and drone accessories. Drones are growing in popularity in uses ranging from aerial photography to content creation.

Rotor Riot and Red Cat are both thrilled about the spike in online sales and look forward to seeing where 2020 takes the combined company. With new projects already underway, 2020 is shaping up to be an exciting year for both Rotor Riot and Red Cat.