UMAC

June 5, 2024

Read the Investor Presentation HERE

Just 2 weeks ago, CEO Allan Evans, COO Drew Camden, and 2 board members collectively acquired more than 40,000 shares through open market purchases

For the 45 days post-acquisition in the first quarter, UMAC generated approximately $619,000 in combined sales

UMAC is focused on becoming a leading supplier to the American drone industry

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Hello Everyone,

We have another undiscovered company that we wanted to put on your plate before Thursday’s session.

This is one that just iPO’d and we have never taken a look at before.

Pull up (NYSE: UMAC) right away and start your research on it.

Unusual Machines is gathering great teams, revenue generating customers, valuable IP, and high-quality brands, growing both organically and through strategic acquisitions within the highly fragmented drone industry. The Company is focused on investing in the development or acquisition of FPV products and services that serve a broad set of industries including consumer, public safety, and drone delivery. The Company’s Fat Shark and Rotor Riot subsidiaries are setting the standard for FPV immersive experiences and are expected to continue to corner the consumer FPV market as Unusual Machines expands into new enterprise verticals over the next 24 months.

As Unusual Machines capitalizes on the wealth of opportunities in the rapidly evolving drone market it is well positioned for long-term success.UMAC manufactures and sells drone components and drones. Products are sold across a diversified brand portfolio with established track records including Fat Shark and Hypetrain Motors. The Company also retails small, acrobatic FPV (first-person-view) drones and equipment directly to consumers through the curated Rotor Riot e-commerce store. With a changing regulatory environment, Unusual Machines seeks to be the dominant tier 1 parts supplier to the fast growing multi-billion dollar US drone industry. The global drone accessories market is currently valued at $17.5B and is set to top $115B by 2032.

INVESTMENT HIGHLIGHTS

Expanding portfolio of drone technology solutions through consolidation of highly fragmented drone industry
- Acquisitions of Fat Shark and Rotor Riot create strong initial position
- Targeting additional acquisitions that are cash flow positive and complement retail sales or component initiatives
US-based development and assembly provides strong competitive advantage
- Made-in-USA extremely attractive amid national security concerns
- Regulatory and DoD procurement provide for major immediate growth drivers
IP protections
- 12 patents issues and 8 patents pending; includes US, EU, Korea, Canada, China, Japan, and UK
Addressing a global opportunity
- Consumer drones forecasted to grow to $20 billion by 2030, a 20.8% CAGR
- Drone components market was valued at $15 billion in 2022, growing at a 11.4% CAGR to $28 billion in 2028
Highly experienced leadership team

Unusual Machines Announces Insider Share Purchases

ORLANDO, FL / ACCESSWIRE / May 31, 2024 / Unusual Machines, Inc. (NYSE American:UMAC) (“Unusual Machines” or the “Company”), a drone and drone components manufacturer, today announced that key executives and directors have purchased additional shares of the company’s stock. Between May 20 and May 30, 2024, CEO Allan Evans, COO Drew Camden, board member Sanford Rich, and board member Cristina Colon collectively acquired more than 40,000 shares through open market purchases.

This recent insider buying brings insider ownership (including its largest shareholder Red Cat Holdings, Inc.) to approximately 64% of the Company, underscoring the leadership team’s commitment to aligning their interests with those of the shareholders and reflecting their confidence in Unusual Machines’ strategic direction and growth potential.

“Our recent insider purchases highlight our unwavering confidence in Unusual Machines’ trajectory,” stated Evans. “We are on a path to meaningful growth, driven by our recent IPO, strategic acquisitions, and expansion into the defense sector. This personal investment in the company is a clear signal of our belief in the value and future of Unusual Machines. We remain committed to driving shareholder value and are excited about the opportunities ahead.”

Unusual Machines has been making strides since its IPO, including the successful acquisitions of Rotor Riot and Fat Shark from Red Cat Holdings. These acquisitions form the cornerstone of the Company’s operations, driving revenue through both e-commerce and B2B sales channels.

In a recent letter to shareholders, Evans emphasized the Company’s strategic priorities, which include expanding Rotor Riot’s operations, progressing towards domestic production of NDAA-compliant products, and developing defense sector components. These initiatives are designed to capitalize on the growing demand for drone technology and establish Unusual Machines as a leading player in the industry.

Unusual Machines Issues Letter to Shareholders

CEO Allan Evans shares post-IPO achievements and provides insight into the Company’s strategic expansion into defense sector

ORLANDO, Fla., May 15, 2024 (GLOBE NEWSWIRE) — Unusual Machines, Inc. (NYSE American: UMAC) (“Unusual Machines” or the “Company”), a drone and drone components manufacturer, today announced it filed its 10-Q with the U.S. Securities and Exchange Commission for the first quarter of 2024 and provided the following letter to its shareholders from CEO Allan Evans.

Dear Shareholders,

We are excited to present our first shareholder letter following our recent IPO. This marks a milestone in our journey and we are incredibly grateful for your support and confidence in Unusual Machines. The IPO, financial results, and recent press releases have led to a significant number of questions from shareholders. We would like to take this opportunity to provide more context and hopefully a deeper of our operations and what these represent for Unusual Machines’ future.

Recent IPO and Acquisitions

In our first quarter, we successfully completed our initial public offering (IPO) on the NYSE American, raising gross proceeds of $5 million. Simultaneously, we closed the acquisitions of Rotor Riot and Fat Shark from Red Cat Holdings. The costs associated with our public listing and these strategic acquisitions are detailed in our 10-Q filing. These one-time expenses impact our short-term financials and can make it challenging to discern the basic operations of the company from the financial statements alone.

Cash Position

We view managing our cash position and cash flow as the most important aspect of our business. During the first quarter, we incurred one-time expenses as we finalized our IPO and had costs related to the integration of Fat Shark and Rotor Riot. We will continue to streamline and closely manage our cash spend. We ended the quarter with approximately $3.2 million in cash, which we believe provides sufficient operating capacity to achieve our growth objectives as discussed below.

Operational Overview

Rotor Riot and Fat Shark form the underpinning of Unusual Machines operations. Historically, Rotor Riot has generated revenue through the sale of first-person view (FPV) drones and drone parts via its e-commerce platform. Fat Shark is the basis of our B2B sales, supplying products through the Rotor Riot store and to other retailers. For the 45 days post-acquisition in the first quarter, we generated approximately $619,000 in combined sales. While it is a limited operating period, we achieved over 30% gross margins combined, which we aim to sustain and improve as we scale.

Importantly, the Rotor Riot e-commerce site has consistently grown 20-30% over the past few years. We intend to continue leveraging this platform as our primary consumer sales channel. Meanwhile, Fat Shark will be integrated with our other premium branded products like Hype Train Motors as we expand our customized B2B sales offerings.

Expanding into the Defense Sector

Historically, our operations have focused on producing and selling drone parts to enthusiasts through our e-commerce channel. Recognizing the growing importance of drones in combat, we have initiated a strategic initiative to begin developing NDAA-compliant drone components for the defense sector. The critical role drones have played in recent conflicts, such as in Ukraine and Israel, has heightened the U.S. Department of Defense’s demand for cost-effective drones and a reliable non-Chinese supply chain. We are confident that our expertise and partnerships Initiative will position us to start to win business and secure necessary Blue UAS certifications that will enable us to rapidly enter this emerging market.

Corporate Changes

Since our IPO, we have implemented several strategic corporate changes. We relocated our headquarters to Orlando to better align with our operations and reincorporated in Nevada to reduce costs. Additionally, we appointed a new auditor and worked with them to finalize our first quarter 10-Q filing with the SEC. These steps underscore our commitment to financial transparency and integrity as we grow.

Looking Ahead

Our priorities moving forward are clear:

Rotor Riot: As our primary revenue source, we will continue to invest in and expand Rotor Riot’s operations, driving both top-line growth and improved margins while finalizing the transition from Red Cat.
NDAA-Compliant Production: We are progressing towards domestic production of drone components, with our first product, a flight controller, expected by the end of June. We expect this to be the first product that will get Blue UAS certification. This is a crucial step in accessing the U.S. B2B market.
Defense Components: Developing products for the defense sector is a focal point for growth. The current demand for drone technology also provides opportunities for non-dilutive financing. This segment is cyclical due to the government fiscal year ending in September so it is our current primary business development focus through the second and third quarters.

We are enthusiastic about the future of Unusual Machines. The acquisitions and our strategic shift towards the defense market present significant opportunities along with some uncertainty. Your support is invaluable, and we thank you for your trust and confidence in our vision. We are a small company and appreciate your feedback. Please reach out with any questions or comments.

Sincerely,
Allan Evans
CEO of Unusual Machines

First Quarter Financial Results

Sales totaled approximately $0.6 million for the period since acquisitions of Fat Shark and Rotor Riot of February 16, 2024 through March 31, 2024. We did not have any sales prior in the prior year or prior to the completion of the acquisitions.
Gross margin for the three months ended March 31, 2024 was approximately 33%. We did not have any sales or gross profit in the prior year.
Our loss from operations was approximately $1.1 million for the three months ended March 31, 2024 as compared to a loss of $0.6 million for the three months ended March 31, 2023.
Net loss attributable to common shareholders for the first quarter 2024 was approximately $1.1 million or $0.18 per share as compared to a net loss of approximately $0.6 million for the first quarter 2023 or $0.17 per share. The decrease primarily relates to additional expenses as it relates to the completion of our IPO and acquisitions and additional costs incurred related to the transition and integration of Fat Shark and Rotor Riot.
We had approximately $3.2 million of cash as of March 31, 2024 as compared to $0.9 million as of December 31, 2023. The increase in cash primarily relates to the closing of our IPO for gross proceeds of $5.0 million in February 2024 offset by our increase in net loss and cash used as consideration related to the acquisitions of Fat Shark and Rotor Riot.

Unusual Machines Completes Acquisitions of Fat Shark and Rotor Riot

SAN JUAN, Puerto Rico, Feb. 22, 2024 (GLOBE NEWSWIRE) — Unusual Machines, Inc. (NYSE American: UMAC) (“Unusual Machines” or the “Company”) announced today the closing of its acquisitions of Fat Shark Holdings, Ltd. (“Fat Shark”), a pioneer in the design and manufacture of ultra-low latency first-person-view (FPV) goggles, and Rotor Riot LLC (“Rotor Riot”), a curated e-commerce marketplace focused on serving drone enthusiasts.

“With the acquisitions of Fat Shark and Rotor Riot, Unusual Machines is well positioned to serve the FPV drone market,” said Allan Evans, CEO of Unusual Machines. “These strategic moves provide the basis from which we are able to focus on delivering great products to enthusiasts, drone builders, and FPV pilots.”

The integration of Fat Shark and Rotor Riot into Unusual Machines is expected to bolster the Company’s market position, leveraging Fat Shark’s technical prowess in FPV goggles and Rotor Riot’s robust e-commerce platform and community engagement. Historical revenues for the two companies for the 12-months ended April 30, 2023, were $5.8 million, up 26.1% from $4.6 million in the 12-months ended April 30, 2022.

Unusual Machines’ business is focused on expanding its customer base through superior products and rapid adoption. The Company is committed to investing in new products and intellectual property and aims to explore and pursue additional acquisitions that complement and enhance its current offerings, with an emphasis on expanding customer relationships and integrating third-party solutions.

By targeting promising FPV drone companies, Unusual Machines aims to provide a domestic alternative to international players. “Our acquisitions of Fat Shark and Rotor Riot mark the beginning of an exciting journey toward leadership in the nascent domestic drone industry,” added Evans. “We are committed to unlocking the full potential of FPV technology and delivering superior experiences to our customers worldwide.”

Unusual Machines Formalizes CEO’s Contract for Two Years Along with Other Corporate Updates

ORLANDO, Fla., May 07, 2024 (GLOBE NEWSWIRE) — Unusual Machines, Inc. (NYSE American: UMAC) (“Unusual Machines” or the “Company”), a drone and drone components manufacturer, today announced it had formalized its contract for Allan Evans to continue to serve as CEO following Unusual Machine’s Board of Directors unanimous approval for two years.

The contract follows a rapid series of business developments since Dr. Evans became the CEO less than six months ago. Since his initial appointment, Unusual Machines successfully listed on the NYSE American, acquired Rotor Riot and Fat Shark from Red Cat Holdings, reincorporated in Nevada, and joined the Red Cat Futures Initiative as part of the Company’s expansion into the U.S. government segment of the market.

“It’s been a whirlwind of energy and excitement as we work to grow as fast as we possibly can,” said Dr. Evans, CEO of Unusual Machines. “Our team is fully bought-in to the mission, and we are well-positioned to drive growth with a focus on getting to cash flow positive. I believe in what we are doing, where we are going, and who we are doing it with.”

The Company continues to show strong growth with its existing operations from the acquisitions of Rotor Riot and Fat Shark. Unusual Machines is developing drone components to be manufactured in compliance with the National Defense Authorization Act (NDAA) with a focus on U.S.-based production. The Company expects to release a U.S.-made flight controller for FPV drones during the second quarter of 2024 that will be eligible, through the Company’s partners, for Blue UAS certification, a U.S. Department of Defense program certifying drones approved for government use.

“Allan’s leadership has propelled us forward at an unprecedented pace,” added Andrew Camden, Chief Operating Officer of Unusual Machines. “His strategic foresight is transforming our operations, enabling us to tackle new markets and achieve ambitious goals with precision and confidence. It is exciting working with Allan. His dedication to innovation and excellence is driving our team to new heights of succes s in this burgeoning industry.”

Brian Hoff, Chief Financial Officer of Unusual Machines, added, “The Company has gone through a tremendous amount of change in the last couple of months. Starting with Allan joining the Company, he made an immediate and positive impact through his leadership and fostering of a strong culture. He has a clear vision and path forward for the Company that positions us to fill a big need within the industry, and I look forward to partnering with him for years to come.”

The Company changed its independent registered accounting firm to Salberg & Company, P.A. (“Salberg”), as previously announced in an 8-K filed with the SEC on April 16, 2024. Mr. Hoff added, “We are excited to have retained an experienced audit firm like Salberg as the Company moves forward. We have been working diligently to complete our quarterly review procedures and anticipate filing our required quarterly report with the SEC on time.”

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NEWS

Unusual Machines to Participate on the Drone Panel at the “Charting the Course: Navigating the Intersection of TMT and Business in the AI Era” Conference Presented by Maxim Group LLC on Tuesday, June 4, 2024 at 10:00 A.M. E.T.

May 31, 2024 8:03am EDT

Unusual Machines Announces Insider Share Purchases

May 16, 2024 11:37am EDT

Unusual Machines CEO Discusses Growth and Strategic Plans Post-IPO

May 15, 2024 4:10pm EDT

Unusual Machines Issues Letter to Shareholders

May 15, 2024 7:00am EDT

Unusual Machines to Host Q1 Earnings Call on May 15

May 07, 2024 4:15pm EDT

Unusual Machines Formalizes CEO’s Contract for Two Years Along with Other Corporate Updates

Mar 07, 2024 4:01pm EST

Unusual Machines Appoints FPV Drone Expert Andrew Camden as Chief Operating Officer

Feb 22, 2024 4:01pm EST

Unusual Machines Completes Acquisitions of Fat Shark and Rotor Riot

Feb 16, 2024 4:01pm EST

Unusual Machines Announces Closing of $5,000,000 Initial Public Offering

Feb 14, 2024 9:00am EST

Unusual Machines Announces Pricing of Initial Public Offering

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MANAGEMENT

Allan Evans

Chief Executive Officer and Director

Allan Evans is the Chief Executive Officer of the Company. Further, Mr. Evans was appointed as a director of the Company in November 2023. Previously, he was the Chief Operating Officer of Red Cat from January 2021 to November 2023 and was the Chief Executive Officer of Fat Shark. He is a serial entrepreneur with a history of founding and leading technological innovation. He has extensive experience in overseeing different emerging technologies. From August 2017 to October 2020, he served as a board member for Ballast Technologies, a company that specialized in technology for location-based entertainment. In November 2012, he co-founded Avegant, a technology company focused on developing next generation display technology to enable previously impossible augmented reality experiences. He led design, development, and initial production of the Glyph head mounted display and oversaw technology research and patent strategy while serving as Chief Technology Officer of Avegant until 2016. He has 47 pending or issued patents that cover a range of technologies from implantable medical devices to mixed reality headsets. Academically, his work has an h-index of 15, an i-index of 28, and has been cited in more than 1,000 publications. He has extensive experience with new technologies, engineering, business development, and corporate strategy, and his expertise in these areas strengthens the Company’s collective knowledge and capabilities.

Brian Hoff

Chief Financial Officer

Brian Hoff has served as Chief Financial Officer of Unusual Machines since November 2022. Mr. Hoff brings extensive experience in leading high growth accounting & finance teams. Mr. Hoff previously serviced as Chief Financial Officer of Auddia, Inc. (Nasdaq: “AUUD”) from April 2021 to October 2022. From October 2019 to April 2021 Mr. Hoff served as Vice President, Accounting & Finance at STACK Infrastructure, a leading provider of digital infrastructure to high growth companies owned by IPI Partners. From November 2011 to October 2019 Mr. Hoff was Corporate Controller and Director of Finance at Coalfire, a leading cyber-security firm owned by The Carlyle Group and The Chertoff Group. Prior to that Mr. Hoff spent four years in public accounting. Mr. Hoff is a certified public accountant and holds a B.S. in Accounting from the University of Colorado.

Drew Camden

Chief Operating Officer

Drew Camden serves as Chief Operating Officer of Unusual Machines. Camden’s ascent in the drone industry began with his captivating FPV Freestyle videos on YouTube. Appointed President of Rotor Riot in 2018, he diversified Rotor Riot’s business by expanding media production and creating an e-commerce revenue stream. Camden established Rotor Riot’s first formal headquarters in Orlando, transformed retail operations, and launched a line of ready-to-fly FPV freestyle drones, positioning Rotor Riot for acquisition by Red Cat Holdings in 2020. He continued to lead Rotor Riot, generating a remarkable 50% year-over-year average revenue growth. In 2024 he saw Rotor Riot through its acquisition by Unusual Machines and joined the executive team. Prior to his work in the drone industry, Camden earned a bachelor’s degree in Engineering Physics from Tulane University and worked four years as an Engineer for General Motors.

SINCERELY,

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