Red Cat Holdings Promotes Geoffrey Hitchcock to Chief Revenue Officer

SAN JUAN, Puerto Rico, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (NASDAQ:RCAT), a drone technology company building hardware and software for military, government, and commercial operations, today announced the promotion of Geoffrey Hitchcock to Chief Revenue Officer (CRO). Hitchcock previously served as the General Manager for Teal Drones (a Red Cat subsidiary), where he was responsible for building a global sales organization for its hardware and software solutions.

"Geoff has been instrumental in shaping Red Cat's success in the global DefenseTech market," said Jeff Thompson, CEO of Red Cat Holdings. "His strategic vision, deep understanding of our customer needs, and leadership continue to deliver outstanding results. As Chief Revenue Officer, Geoff will lead our efforts to accelerate growth and scale our revenue strategies, ensuring Red Cat continues to thrive in the rapidly evolving drone technology landscape."

In his previous roles at Red Cat, Hitchcock spearheaded key initiatives that strengthened Red Cat's position as a trusted provider of unmanned systems for the U.S. Department of Defense and NATO allies. He led the company's efforts to secure major contracts, including its award of the U.S. Army's Short Range Reconnaissance Program of Record.

"It's an honor to take on this new role at Red Cat during such a pivotal time for our company," said Hitchcock. "Red Cat's commitment to delivering drone technology aligns with the growing needs of defense and government sectors worldwide. I'm eager to lead our revenue operations and ensure our solutions continue to exceed the expectations of our customers and stakeholders."

As CRO, Hitchcock will oversee all revenue-generating operations, focusing on driving strategic partnerships, expanding Red Cat's market reach, and furthering its leadership in the development of innovative unmanned systems.

This promotion comes at a time of significant momentum for Red Cat. The company recently announced the production selection of its Black Widow drones for the U.S. Army's SRR Program. Black Widow is the flagship system in Red Cat's ARACHNID™ Family of Systems that the company is developing to address the evolving needs of warfighters globally.

About Red Cat, Inc.

Red Cat (NASDAQ:RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army's Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry's first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

Forward Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

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