@fundmyfund Diebyou have the same feeling with other companies like RCAT? (From size or nature)
I think the whole problem is the US Government. It’s like a toxic girlfriend. I hope the deal with Ukraine will work and be good.
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Hideki Ishimura
852 posts
Hideki Ishimura
@hideki_ishimura
Baden-Wurtemberg, Alemania Katılım Mart 2011
217 Takip Edilen89 Takipçiler
$RCAT
I don't know. I feel constantly positive when listening to their calls... I feel constantly hands in air when seeing the results aside 1 quarter (Q4 25)
Unless my ears need a cleaning, they are STILL talked about LRIP (low rate initial production) for the SRR Army contract being finalized on this quarter's call. That's shocking. We thought LRIP would be done end of last summer/early fall 2025, and then off to FRIP (full rate production) fall/early winter.
So not only are we not in FRIP on the Army contract, they are still talking LRIP. Wow.
OTA was supposed to accelerate this program. It hasn't.
Now the pivot is to Ukraine as the big bazooka along with every FPV drone in the DDP program needs an ISR drone (which is $RCAT or @SkydioHQ ) and apparently Skydio's drones don't work in a real battlefield and is 2 year old technology while $RCAT is innovating every 3 weeks out in the field but the US government keeps ordering Skydio because of paper pushers who don't understand the a war front. Do they need better lobbyists? Skydio has amazing ones who ended DJI in America.
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And what was their main focus all of 2025 (Army SRR) they have demoted to something akin to "it may not even be a top 3 revenue generator for us". I am paraphrasing.
There is a lot about the boats in there too but 'show me the money' is my view there.
Flightwave is in there for $40M in 2026 despite not a single contract. Ok.
Ukraine, DDP ISR, boats.... lions, tigers, bears.
I'm tired boss.gif
I am not going to go into the ins and outs of the call - it's been a non stop parade of "here we go, it's about to happen" for 15+ months. Either it is all going to happen in the next 18 months or this is some parallel universe I have been fooled on all along. I am willing to admit it, if that is the case.
They have guided to $150-$180M revenue for this year. With only $15M booked that means $135-$165M the rest of the year.
They missed last year's guidance by half so hard to believe it with the track record until they build sustained quarters of achievement vs promise.
I put my financial model for that guide in this post. Share count rose from ~118M to ~123M. Forward price to sales is now under 8 on the mid point of their guide: $165M. If the market believed the guide the PPS would be more akin to $16 PPS. So the market rightfully has doubts based on the past 5 quarters of over promise and under deliver (aside Q4 25).
I won't be spending any time past that - I have written more words about this company since Feb 2025 vs any other in the entire US market. Either it's real or it's not by this time next year.
Fund.Drone.DefenseTech.Photonics $LPTH $UMAC 🐋@fundmyfund
Not going to do a full breakdown of the 90 minute presentation for $RCAT at Innovation Day but I found this portion on how government procurement works by Geoff very helpful - if you are in ANY sort of company that relies on these contracts (defense sector especially) it is worth the short listen. There are so many acronyms and inside baseball terms it is good to hear it from a person who has dealt with it for decades. Specific to $RCAT they are saying just a week and a half ago did federal budgets become finalized. Which is ridiculous since annual budgets start Oct 1. But that's the US government for you. Most years they have a continuing resolution - this year we had a government shutdown on top of it all. We have been waiting for OTAs for months, scratching our heads why there have been no contracts. Well this sounds like the explanation. So what does it mean -- well we have SEVEN months left in the fiscal year. All these massive amount of funds need to be spent in those 7 months or they are lost. So the funnel of spending we have been waiting for months on end should finally start to fire up. Specific to $RCAT - I was very encouraged by the roster of management. Usually we only see Stan their marketing man and Jeff who has self professed is a bit rough around the edges as a presenter. I think he has learned a lot of lessons the last year plus. I've seen Geoff H here or there and he misspoke on Black Widow being in full rate production (FRIP) last year which annoyed me, but guy knows his stuff overall. Former $AVAV man. The other guys on the panel were impressive - Christian (Chris) their COO - former CFO - particularly impressed me. He has to have his hands full with all the things moving around but was on top of every question and has a great personality and sounds sharp. Sounds like they are doing a LOT of work on the supply chain which is key. So even though I love Allan and the boys at $UMAC you need to have redundancy in the supply chain. This buoyed me as management is half the battle. Aside that this USV thing is real; very real. How it translates to sales, we will see but I like that they pivoted from just drones to this area as there is a huge opportunity here if they can execute. Drones eventually will drop in price and become commoditized to a large degree. That is going to take a lot longer with boats. Their base model is $700K before any add ons. Some positive updates on Edge aka Trichon. EVERYTHING they have has been field tested in Ukraine and works. Some things the US government in buying unfortunately does not. But those things "fit requirements" - so that is a sad state of affairs but again - that is government, wasteful. Hopefully the cream rises to the top. As for FPV - Jeff reiterated what I have said many times. It is not going to be a great business long term with the margins. But every major drone company should have it in their suite, even as a loss leader. At the $5K original price in Drone Dominance that is going to be very profitable. Once it gets to $2.3K or lower probably not. Again DDP is not what $RCAT is about - it is a way to show the government who can scale and who has the supply chain. It's not going to be their bread and butter by any means. I was WAY too early on this name as I am used to companies dealing with the private sector - win a sale, send a PO, get revenue. Government process is molasses by comparison. But they spent 2025 building the factory, staffing up, fielding supply chain. Things we don't think about - IT systems improved to being secure enough for DoW work, Sarbanes Oxley, change to a Big 4 auditor. Hopefully this pays off in latter 2026 and onward. This remains a very promising opportunity IMO.
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@dronazon @Jeff you should use the official @RedCatHoldings account instead of your personal account like Allen Control Systems is doing.
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@thealepalombo Even Greece offers 0% tax on stocks and 5% on dividends. You have to own less than 0,5% of the company which is very easy.
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Turkey could introduce a 20-year 0% tax exemption on foreign income.
Europe is already dense with these regimes. All of them open to people who relocate.
Cyprus offers a 17-year exemption, extendable, with 0% on dividends, interest, and capital gains. Only 60 days of residency required.
Portuguese IFICI gives 0% on foreign income for 10 years, but qualifying local employment is required.
Malta and Ireland run non-dom regimes based on remittance. Each with its own nuances.
All of this without even considering the flat-tax route. Italy at €300K/year. Greece at €100K/year. Other lump-sum systems in the same family.
Europe runs an internal competition that produces tax exemption regimes.
Sometimes optimal. Sometimes ones that Europeans themselves don't know about or rarely use.
The reality is that holding assets in Asia and living the European life, tax optimised, is something more and more people are doing.
Being based in Europe and invoicing clients in the US has been, until now, one of the most viable paths.
If Turkey approves this, I can see it pulling people from Portugal. And becoming a real contender to Cyprus.
What's your take?
P.S. My conviction remains that these are always life choices, not tax-only choices. I don't encourage decisions based only on tax optimisation. But being treated better and living a meaningful life, that's a winning choice.
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@MaxxingDelusion It’s the connection with nature. Now imagine the same picture you posted but behind the trees there are buildings and concrete. Just imagining give me stress.
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@niccruzpatane I think the message is the wrong one. Maybe they. Ever build them. So it means C class is never meant to drive Level 3. So in terms of autonomous driving Tesla is still superior for almost half the price. I think that’s the main message.
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It has begun, Elon was right. Mercedes has started to remove LiDAR sensors from its new vehicles.
The all-new 2027 Mercedes-Benz C-Class EV does not feature any LiDAR sensors in its suite, as does the new CLA EV.
• 10 cameras
• 5 radars
• 12 ultrasonic sensors
• 0 LiDAR
Mercedes says the decision to remove LiDAR comes primarily for cost, and scalability.
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@devMidgard @BowTiedMara Yes and your solution to the Spanish people is to go to the private sector even if it’s shit payed and unstable. Bravo. Did you studied economics to get to that conclusion?
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@hideki_ishimura @BowTiedMara It seems you don't understand that the private sector is the one that funds the public one.
So if the private sector is dead, even if you land a public job, your days are numbered and there's no real safety as it will come crashing down.
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🇪🇸 In Spain, young people unemployable in the private sector are throwing parties to celebrate becoming civil servants.
Their only aspiration is to become parasites of the system.
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@timsoret He points to the moon and you look the finger.
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What a depressing state of affairs.
We could do the exact same video for France. Exact same symptoms & problems.
Radical Living@RadicalFalk
I'm leaving Germany | Brutally Honest Review
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@amitisinvesting At 116 Price/Sales? No thanks. For that valuation it should grow x10 for the next 3 years and another x5 for the next 3 years.
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@fundmyfund @dronazon I believe Saronic is building also middle ships
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Dud you see the Saronic raise?
Autonomous ship startup Saronic said Tuesday that it’s raised $1.75 billion as it ramps up production to meet mounting U.S. military demand for newer and cheaper defense capabilities.
The round, led by Kleiner Perkins, more than doubles Saronic’s valuation to $9.25 billion from the $4 billion it hit after a $600 million raise early last year.
Saronic plans to use the funding to scale its supply chain and shipyards, and build more than 20 ships a year by 2027, including its new shipyard, dubbed Port Alpha, in Texas.
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We are building !
Atoms Not Bits@AtomsNotBits
Daily Hard Tech Headlines: - @Starcloud_ secured a $170M Series A. The Redmond, Washington startup is developing space-based data centers, with each satellite acting as an orbital compute node. Benchmark and EQT Group led the round. - @anduriltech is developing an integrated air and missile defense system that fuses sensors and data across domains to enable real-time detection. - Red Cat Holdings has acquired APIUM Swarm Robotics, a company developing swarm technology for air and maritime operations. - Lockheed Martin Sikorsky has partnered with Robinson Helicopter Company to launch an autonomous cargo helicopter. - @intramotev, the St. Louis rail tech firm, secured a commercial agreement with R. J. Corman Railroad Group, a U.S. short line railroad operator and rail services provider, to integrate its autonomous TugVolt railcars for industrial switching on the Memphis Line. - Blackwing Space has launched out of stealth. The Nashville startup develops nanosatellites and was founded by Paul Anderson and Oliver Muoto. - @generalcherry, the Ukrainian FPV startup, has partnered with Wilcox Industries, the tactical equipment manufacturer, to produce drones in America. - @MistralAI, the French AI lab, secured $830M in debt to procure GPUs and scale its France-based AI infrastructure. - @ICON3DTech, the Austin, Texas construction technology startup, will begin 3D printing barracks for the U.S. Army at Fort Bliss, with an estimated six-month build timeline. - @LeidosInc, the major American government contractor, has acquired ENTRUST Solutions Group, which develops grid infrastructure technology for utilities. - The Carlyle Group, the mega private equity fund, is exploring the launch of a defense arm, according to Bloomberg. - @Splash_Robotics, the LA maritime autonomy startup, has secured a CRADA with NSWC Crane Division (USV pictured below).
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@inversionmedica Podrías hablar de porque la empresa no para de diluir sus acciones? Que necesidad hay de hacerlo?
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La acción que paga dividendos TODOS los meses 📅
No cada trimestre.
No una vez al año.
Esta empresa lleva más de 650 pagos mensuales consecutivos.
Se llama REALTY INCOME 🏠
Y no la llaman The Monthly Dividend Company por casualidad.
🧠 Qué hace esta empresa
Realty Income es un REIT.
Eso significa que invierte en inmuebles y reparte gran parte de los beneficios vía dividendo.
Cómo funciona:
➡️ Compra propiedades
➡️ Se las alquila a grandes empresas
➡️ Firma contratos triple net lease
➡️ El inquilino paga impuestos, seguros y mantenimiento
➡️ Realty Income cobra rentas muy predecibles
Es decir:
una máquina de cobrar alquileres con muy poca fricción.
💰 Rentas pasivas
Aquí está lo importante:
➡️ Dividend yield actual: 5,0%
➡️ Pago mensual
➡️ +650 pagos mensuales consecutivos
➡️ +30 años seguidos aumentando dividendo
➡️ Payout: 76%, cubierto y sostenible
Ejemplo simple:
➡️ Con 10.000€ puedes comprar aprox. 150 acciones
➡️ Eso te generaría unos 480–520$ al año
➡️ O unos 40$ al mes
Todo automático.
🏢 Qué hay detrás del dividendo
No depende de un solo inmueble.
Realty Income tiene unas 15.600 propiedades.
Y algunos de sus principales inquilinos son:
➡️ Dollar General
➡️ Walgreens
➡️ Dollar Tree / Family Dollar
➡️ 7-Eleven
➡️ EG Group
También aparecen nombres como Walmart o FedEx.
Es decir, el dividendo proviene de miles de contratos de alquiler firmados con grandes compañías.
🎯 Cuándo tiene sentido
Esta no es la típica acción pensada para duplicar en pocos años.
Tiene más sentido cuando el objetivo cambia:
➡️ menos obsesión por maximizar crecimiento
➡️ más foco en generar ingresos recurrentes
Realty Income lleva décadas haciendo algo muy simple:
cobrar alquileres, repartir dividendos y aumentarlos poco a poco.
El crecimiento histórico del dividendo ronda el 3-4% anual.
No es espectacular.
Pero sí extremadamente consistente.
Y en una cartera de rentas, la consistencia es lo que importa.
🧠 Conclusión
No es la acción que te hace rico rápido.
Es la acción que te paga mientras esperas.
Y eso, en una cartera de ingresos pasivos, vale muchísimo.
La pregunta importante es esta 👇
Prefieres perseguir un yield alto pero poco sostenible… o cobrar algo menos pero con una empresa que lleva más de 650 pagos mensuales y 30 años subiendo el dividendo?
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@fundmyfund Something tells me that the whole Gauntlet is for US manufacturers to learn about the best drones in the world. Phase II (or III) will required US manufacturing capabilities with IS parts. Let’s see how it will work
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Riddle me this $ONDS $RCAT $UMAC
➡️Skycutter was not on the initial list of 25 contestants 2/3
➡️Skycutter was not on the revised list of 26 contestants 2/23 when $DPRO and Titan were added and $KTOS left
Not on the list. But Skycutter won the whole thing 2 weeks later. ⚠️
I check the website today and they are now showing up as the 27th company in a 26 company competition
Something doesn't smell right
@VASTCNC @BlackScholesMan
Screenshots below of all contestants on the first revision and second revision. No Skycutter.
Fund.Drone.DefenseTech.Photonics $LPTH $UMAC 🐋@fundmyfund
Well there we go - interesting Drone Dominance leaderboard! $ONDS $RCAT $UMAC $DPRO Not what I expected aside @Neros_tech and a few Ukrainian companies - wow I thought @PDW_ai was a shoo in. Remember this is NOT down select. Meaning round 2 can have new entrants OR entrants from round 1 winning. That said - interesting. Maybe boggling. lol
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@grok @mtyplanet @xAviation What do you mean with low level agility? The aircraft is not agile? Does not look like that.
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@mtyplanet @xAviation It's the Lockheed Martin F-22 Raptor.
USAF fifth-gen stealth air superiority fighter with supercruise, thrust vectoring, and extreme low-level agility like in this clip.
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@fundmyfund Maybe they meant 4 FPV instead of 1 Black Widow. And Black Widow can be sold at x10 one FANG. That’s my hypothesis.
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That is not the case
They can make 4 FPVs in the same time it takes to make 1 ISR (BW)
I am not going to be like the $ONDS boys and create a narrative to explain away disappointing outcomes
We will see in Gauntlet 2 - there is talk going around the LinkedIns of the world that a lot of the leaders in this had a lot of Chinese components that wont be allowed in Gauntlet 2-4. But that helps $UMAC more than $RCAT per se
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$RCAT not selling off a bit on DDP news. I am going to do reverse psychology and say this makes me even more booolish on $RCAT as I thought this weeks volume was some sort of leak about Drone Dominance.
FPV is not that important to the co per se from a revenue line but I *AM* disappointed because I figured this competition was a statement on the factory as much as the drone. Still can come back in round 2 - we will see.
But with that what the hell does someone know with all this volume?
(also I'm talking my book hah)
Fund.Drone.DefenseTech.Photonics $LPTH $UMAC 🐋@fundmyfund
I'm pretty sure $RCAT is one of the 12 based on the stonk performance 😅 Funny thing is FPV is a rounding error for their business unlike many companies entered More on Gauntlet later today!
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@fundmyfund I think we will get more information on 18.03 on earnings call but I have to say I expected more from the SRR winner and the “the factory is the weapon” company.
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@fundmyfund @VisforVeteran @47G_Utah Yeah, Utah's defense cluster is no joke—those heavyweights like Northrop & L3Harris bring billions in contracts and talent that supercharge the drone innovators. Hill AFB is the anchor. Eyeing any for plays?
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$ONDS competitor CUAS
What is in the water in Utah? Didn't have the Mormons as drone people.
Seems like an entire ecosystem. It's like the sand people of Tatooine. Who knew!
BMSInvests@BMSInvests
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@vivir_en_chipre Airbnb genera dinero para el inversor. Pero también gastos y riesgos. Normalmente puedes tener un 7-8% de retorno sobre la inversión. Eso si trabajas y tienes un Airbnb. Si solo te dedicas a Airbnb tienes que hacerte autónomo. Los márgenes pasan de 7-8% a 1-2% perfectamente.
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@hideki_ishimura A qué te refieres? No he entendido tu mensaje.
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Retuiteo este post para hacer una comparativa real👇
España 🇪🇸 vs Chipre 🇨🇾
Mismo profesional.
Misma actividad.
Resultados completamente distintos.
🇪🇸 ESPAÑA — Trabajador / autónomo
❌ ~30% Seguridad Social (empresa)
❌ 19–47% IRPF
❌ 6,35% Seguridad Social trabajador
❌ 21% IVA al consumir
👉 Resultado real:
De cada 100€ que generas, el Estado termina quedándose cerca de 55-60€.
Y después vuelves a tributar cuando inviertes, ahorras o heredas.
🇨🇾 CHIPRE — Empresa unipersonal (Non-Dom)
✅ Seguridad Social total ≈ 16,6%
(8,8% empresa + 8,8% empleado)
Pero aquí está la diferencia que casi nadie entiende:
👉 Tú decides tu salario.
Puedes asignarte un sueldo bajo (solo para cotización)
y repartir el resto como dividendos.
✅ IRPF efectivo: 0%
Porque los beneficios se distribuyen vía dividendos.
En régimen Non-Dom:
✔ 0% impuesto sobre dividendos
✔ 0% impuesto sobre intereses
✔ Solo 2,65% GESY (sanidad)
✔ Sin cuota de autónomo obligatoria estilo España
✅ IVA: 19%
Pero funcionando como debe funcionar un IVA empresarial:
✔ Ordenadores
✔ Teléfono / iPhone
✔ Viajes profesionales
✔ Hoteles
✔ Restaurantes de trabajo
✔ Vehículo
✔ Software
✔ Equipamiento
✔ Hasta ≈30% de vivienda si trabajas desde casa
👉 Gran parte del IVA se compensa o recupera.
Algo completamente normal en entornos empresariales…
y prácticamente imposible para un trabajador autónomo en España.
## 📊 RESULTADO FINAL
TOTAL ESTIMADO:
🇪🇸 España → el Estado se lleva ~60€ de cada 100€ que generas
🇨🇾 Chipre (non-dom) → dependiendo de cómo lo estructures, puedes quedarte entre el 85-92% de lo que produces
No es evasión fiscal.
Es elegir dónde operar dentro de la legalidad.
La diferencia no es pequeña…
Da igual qué partido esté en el poder. Todos necesitan saquear al ciudadano para seguir comprando votos.
No hay solución dentro del sistema, quedarse a “luchar” desde dentro es simplemente absurdo.
El único voto que entienden de verdad es el que se hace con los pies.
Ese es el que les duele. El único que les obliga a replantearse el despropósito.
La mejor forma de luchar — y la ÚNICA que funciona — es dejar de subvencionar con tu trabajo un Estado que te expolia de forma sistemática para mantenerse en el poder a base de comprar votos con favores y subvenciones.
Conmigo desde luego que hace años que no cuentan y orgullo infinito de no subvencionar a un estado expoliador y a políticos muchos de ellos presuntamente corruptos según lo que se va viendo día a día.
Ingeniero Rata 🐁@IngenieroRata
Recibes tu SALARIO: ❌ - 30% de Seguridad Social (empresa) ❌ - 19-47% de IRPF ❌ - 6,35% de Seguridad Social (trabajador) COMPRAS: ❌ - 21% de IVA TOTAL: 😢 De cada 100€ que ganas, el Estado se lleva unos 60€ entre TODOS los impuestos. ¿Tiene sentido? 🤯
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