Red Cat Appoints KPMG as Auditor
The transition comes without disputes but follows prior disclosures of internal control weaknesses.
September 05, 2025
Red Cat Holdings Taps KPMG as New Auditor
Red Cat is making a shift in how it handles its audits. As of August 28, the company brought on KPMG LLP to serve as its independent auditor for the fiscal year ending December 31, 2025. The decision came from Red Cat’s audit committee and closes out its relationship with dbbmckennon LLC.
This was a clean handoff. Red Cat’s financial statements for the past reporting periods—covering April 2023 through December 2024—came through without adverse opinions or flagged disagreements. dbbmckennon signed off on those audits without raising issues around accounting policy or audit scope. The one exception: previously disclosed weaknesses in internal controls, which Red Cat acknowledged in past filings.
KPMG didn’t advise on that issue, or on any other accounting matter. Before being hired, the firm hadn’t consulted with Red Cat about potential transactions, financial disclosures, or audit outcomes.
The committee approved the move under its existing charter and followed protocol in doing so.
The company also confirmed it shared its public disclosure with dbbmckennon and asked for a formal response. That letter, now part of the official record, confirms the firm reviewed and agreed with how the transition was described.
With KPMG in place, Red Cat enters its next fiscal cycle with a new audit team and a reset. The change allows the company to build on its current reporting structure with fresh oversight in place.
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