as of 10-13-2026 12:45pm EST
Redwire Corp is an integrated space and defense technology company focused on technologies including aerospace infrastructure, autonomous systems and multi-domain operations, leveraging digital engineering and artificial intelligence automation. The Company develops and provides mission critical solutions based on space and defense technology platform offerings for government, commercial and civil customers through both short- and long-duration projects. These include technologies and production capability for next-generation spacecraft, large space infrastructure, microgravity capabilities, combat autonomous systems, optical sensors and radio frequency payloads that provide intelligence, surveillance, and reconnaissance capabilities for U.S. and allied nations across multiple domains.
| Founded: | 2020 | Country: | United States |
| Employees: | N/A | City: | JACKSONVILLE |
| Market Cap: | 3.4B | IPO Year: | 2020 |
| Target Price: | $14.69 | AVG Volume (30 days): | 10.2M |
| Analyst Decision: | Buy | Number of Analysts: | 10 |
| Dividend Yield: | N/A | Dividend Payout Frequency: | N/A |
| EPS: | -0.58 | EPS Growth: | 2.98 |
| 52 Week Low/High: | $4.87 - $26.64 | Next Earning Date: | 11-04-2026 |
| Revenue: | $335,381,000 | Revenue Growth: | 10.29% |
| Revenue Growth (this year): | 41.71% | Revenue Growth (next year): | 18.65% |
| P/E Ratio: | -15.93 | Index: | N/A |
| Free Cash Flow: | -190810000.0 | FCF Growth: | N/A |
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SEC 8-K filings with transcript text
Aug 5, 2026 · 100% conf.
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+6.94%
$11.39
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2 exhibit991redwire06302026e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Second Quarter 2026 Financial Results, Achieves Record Revenue, Gross Margins, and Contracted Backlog
JACKSONVILLE, Fla. / August 5, 2026 Redwire Corporation (NYSE:RDW, “Redwire” or the “Company”), a global leader in space and defense technology solutions, today announced results for its second quarter ended June 30, 2026.
“With new record highs for both revenue of $117.1 million and gross margin of 27.8%, Redwire’s second quarter of 2026 was defined by successful execution,” said Peter Cannito, Chairman, Chief Executive Officer, and President of Redwire. “With a record Backlog1 of $542.1 million and a strengthened balance sheet to enable strategic investments, Redwire is scaling to meet the strong demand we see for our mission critical space and defense tech offerings.”
Second Quarter 2026 Highlights
•Announced key follow-on awards for Stalker Block 30 from both the Marine Corps Portfolio Acquisition Executive Robotic Autonomous Systems and the 1st Aviation Brigade, U.S. Army Aviation Center of Excellence.
•Awarded contracts to deliver Penguin uncrewed aerial systems across the globe, including a multi-year contract valued at high eight-figures from an undisclosed NATO country and a contract from Taiwan Color Optics, Inc. for the Taiwan Coast Guard.
•Delivered nearly 200 Octopus ISR payloads year-to-date, a more than 15% increase year-over-year, and announced two new Octopus products, the Octopus E140 MWIR and E180 HD MWIR.
•Completed on-orbit operations for pharmaceutical drug development investigations in partnership with researchers at Aspera Biomedicines, Bristol Myers Squibb, Rowan University, and Purdue University, marking more than 50 PIL-BOXes flown since the inaugural mission in November 2023.
•Subsequent to the end of the second quarter of 2026, held a grand opening in Georgetown, Indiana and announced a facility expansion in Huntsville, Alabama, bringing new capabilities and additional capacity online to support growth.
•Revenues increased 89.6% year-over-year to $117.1 million for the second quarter of 2026.
•Year-over-year improvement in gross margins to 27.8% for the second quarter of 2026 compared to (30.9)% for the second quarter of 2025.
•Net Loss improved by $56.0 million year-over-year to $(41.0) million for the second quarter of 2026.
•Adjusted EBITDA2 increased by $24.2 million year-over-year to $(3.2) million for the second quarter of 2026, inclusive of $12.5 million in Research and Development expense.
1 Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
2 Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding this Non-GAAP measure.
Page 1
•Achieved Book-to-Bill3 ratio of 1.42 for the second quarter of 2026 with a meaningful year-over-year increase on a last twelve months basis to 1.52 as of the second quarter of 2026.
•Ended second quarter 2026 with total liquidity4 of $607.8 million, a 366.9% increase over the end of 2025.
2026 Forecast
•For the full year ended December 31, 2026, Redwire reaffirms that it is forecasting revenues of $450 million to $500 million.
“Consistent with our expectations, during the second quarter of 2026, Redwire expanded gross margins to 27.8%, and achieved sequential and year-over-year improvement in Adjusted EBITDA5 to $(3.2) million, while investing $12.5 million in Research and Development,” said Chris Edmunds, Chief Financial Officer of Redwire. “During the quarter we reduced the aggregate amount of our term loans from $90.0 million to $50.0 million and ended the quarter with record total liquidity4 of $607.8 million. With $214.0 million of recorded revenue during the first half of 2026 and Backlog3 providing significant visibility for the back half of the year, we are again pleased to reaffirm our 2026 revenue forecast.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Thursday, August 6, 2026 to review financial results for the second quarter ended June 30, 2026. This release is available in the investor section of Redwire’s website at RDW.com.
Redwire will live stream a presentation with slides during the call. Please use the following link to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ITIRLOWy. The dial-in number for the live call is 877-485-3108 (toll free) or 201-689-8264 (toll), and the conference ID is 13761352.
A telephone replay of the call will be available for two weeks following the event by dialing
May 6, 2026
2 exhibit991redwire03312026e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports First Quarter 2026 Financial Results, Achieves Record Contract Backlog with Significant Gross Margin Improvement
JACKSONVILLE, Fla. / May 6, 2026 Redwire Corporation (NYSE:RDW, “Redwire” or the “Company”), a global leader in space and defense technology solutions, today announced results for its first quarter ended March 31, 2026.
“We continue to see very strong demand for our differentiated products with a Book-to-Bill1 ratio of 1.92 resulting in record Backlog1 of $498.1 million,” said Peter Cannito, Chairman, Chief Executive Officer, and President of Redwire. “Critical wins like the $1.8 billion Andromeda IDIQ for advanced spacecraft, our first order for ELSA, and follow-on orders with key customers like the Marine Corps for Stalker, to name a few, underscore our belief that Redwire is strategically positioned with many pathways to success across our mission-critical offerings.”
First Quarter 2026 Highlights
•Awarded a contract to develop a quantum-secure satellite under the European Space Agency’s Quantum Key Distribution Satellite program as part of a multi-country consortium that includes Honeywell Aerospace.
•Awarded a $12.8 million contract to deliver Extensible Low-Profile Solar Array (“ELSA”) wings to Moog, Inc. marking the first sale of ELSA, a new high-performance, low-mass solar array product.
•Supported a cancer therapy investigation led by Aspera Biomedicines that launched during the quarter using PIL-BOX; in addition, announced the award of an additional $4.0 million contract from NASA to support new drug development investigations on the International Space Station.
•Subsequent to the end of the first quarter of 2026, Redwire’s advanced imaging and navigation technology launched on board the Orion spacecraft as part of NASA’s historic Artemis II mission, the first crewed mission for the Artemis program.
•Received purchase orders totaling more than $20.0 million during the first quarter supporting the Portfolio Acquisition Executive Robotic Autonomous Systems Aircraft Program Management Office Family of Small UAS Team, encompassing the Marine Corps’ first acquisition of the Advanced Navigation version of the Stalker Block 30.
•Stalker continued integration efforts with the U.S. Army’s Next Generation Command and Control (“NGC2”) tactical network during the Ivy Sting exercises, further integrating the platform into the U.S. Army’s future concept of operations.
•Revenues increased 57.9% year-over-year to $97.0 million for the first quarter of 2026.
•Sequential and year-over-year improvement in gross margins to 26.6% for the first quarter of 2026.
•Net Loss increased by $73.6 million year-over-year to $(76.5) million for the first quarter of 2026, which includes the impact of more than $44.0 million in non-recurring activity, primarily related to recognizing the remaining
1 Book-to-Bill and Backlog are key business measures. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
$42.5 million of equity-based compensation for incentive units associated with the Edge Autonomy acquisition due to the acceleration of vesting.
•Adjusted EBITDA2 decreased by $6.9 million year-over-year to $(9.2) million for the first quarter of 2026.
•Meaningful sequential and year-over-year increase in Book-to-Bill3 ratio on a quarterly and last twelve months basis to 1.92 as of the first quarter of 2026.
•Ended first quarter 2026 with total liquidity4 of $175.2 million, a 21.0% increase over the end of 2025.
2026 Forecast
•For the full year ended December 31, 2026, Redwire affirms that it is forecasting revenues of $450 million to $500 million.
“During the first quarter of 2026, Redwire’s focus on operational performance and portfolio management drove meaningful year-over-year and sequential improvement in gross margins to 26.6%, which contributed to improved cash from operations,” said Chris Edmunds, Chief Financial Officer of Redwire. “In addition, we ended the quarter with record total liquidity4 of $175.2 million. With further line of sight into the rest of the year, we are pleased to reaffirm our 2026 revenue forecast.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Thursday, May 7, 2026 to review financial results for the first quarter ended March 31, 2026. This release and the most recent investor slide presentation are available in the investor relations area of our website at RDW.com.
Redwire will live stream a presentation with slides during the call. Please use the following link to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=t1zjVMCW. The dial-in number for the live call is 877-485
Feb 26, 2026
2 exhibit991redwire12312025e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Fourth Quarter and Full Year 2025 Financial Results, Achieves Top End of 2025 Revenue Guidance Range with Record Contracted Backlog
JACKSONVILLE, Fla. / February 25, 2026 Redwire Corporation (NYSE:RDW, “Redwire” or the “Company”), a global leader in space and defense technology solutions, today announced results for its fourth quarter and full year ended December 31, 2025.
“2025 marked the transformation of Redwire into an integrated, multi-domain space and defense tech company. This evolution is reflected in our new structure, which we believe will enable us to maintain strong positioning and continue our growth trajectory across both established and rapidly emerging domains,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “With continued acceleration in contract awards during the fourth quarter of 2025 and confidence provided by our record Backlog1 of $411.2 million, we are entering 2026 with strong momentum.”
Fourth Quarter and Full Year 2025 Highlights
•Strengthened leadership in Very Low Earth Orbit (“VLEO”) with the award of a $44 million phase 2 contract to advance the Defense Advanced Research Projects Agency’s Otter mission during the fourth quarter of 2025, which leverages Redwire’s SabreSat.
•Entered into an eight-figure agreement with The Exploration Company (“TEC”) during the fourth quarter of 2025 to provide two International Berthing and Docking Mechanisms (“IBDM”) to support autonomous rendezvous and docking capabilities for TEC’s Nyx spacecraft.
•During 2025, launched 14 PIL-BOXes, studying 18 unique molecules, to the International Space Station (“ISS”); as of December 31, 2025, Redwire had eleven active payload facilities on the ISS.
•Completed acquisition of Edge Autonomy, a leading provider of field-proven uncrewed aerial systems (“UAS”) on June 13, 2025.
•Delivered more than 100 Stalker/Penguin UAS in 7 countries around the world subsequent to the Edge Autonomy acquisition, including the U.S. Army (directly and via the Long Range Reconnaissance (“LRR”) program), U.S. Marine Corps, and NATO and other allied nations.
•During the fourth quarter of 2025, opened a new 85,000 square foot facility in Ann Arbor, Michigan to increase production of critical fuel cells to meet growing demand, reflecting a key investment in a domestic, vertical integration strategy for Stalker UAS production.
•Revenues increased 10.3% year-over-year to $335.4 million for full year 2025 and increased 56.4% year-over-year to $108.8 million for the fourth quarter of 2025.
•Meaningful sequential and year-over-year increase in Book-to-Bill1 ratio on both an annual and quarterly basis to 1.32 as of full year 2025 and 1.52 as of the fourth quarter of 2025.
1 Backlog and Book-to-Bill are key business measures. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
•Ended full year 2025 with total liquidity2 of $130.2 million, a 103.2% increase over the end of 2024.
•Net Loss increased by $112.2 million year-over-year to $(226.6) million for full year 2025 and increased by $18.3 million year-over-year to $(85.5) million for the fourth quarter of 2025, both of which include the impact of more than $130 million and $40 million, respectively, in non-recurring activity.
•Adjusted EBITDA3 decreased by $49.5 million year-over-year to $(50.3) million for full year 2025 and decreased by $8.9 million year-over-year to $(18.1) million for the fourth quarter of 2025.
2026 Forecast
•For the full year ended December 31, 2026, Redwire is forecasting revenues of $450 million to $500 million.
“During the fourth quarter of 2025, we used proceeds from an efficient At-The-Market (“ATM”) program to repay $105.5 million of outstanding debt and in February 2026, we refinanced our remaining credit agreement. As a result of these proactive steps and additional debt repayment earlier in 2025, we have significantly strengthened our balance sheet and simplified our capital structure, with an estimated total annualized interest savings of over $17 million,” said Chris Edmunds, Chief Financial Officer of Redwire. “Our financial results in the fourth quarter of 2025 reflect substantial negative impact from EAC adjustments that were largely related to programs in the development stage, and as we head into 2026, our focus remains on transitioning these programs into production, which we expect will drive gross margin improvement.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Thursday, February 26, 2026 to review financial results for the fourth quarter and full year ended December 31, 2025. This release and the most recent investor slide presentation are availabl
Feb 25, 2026
3 exhibit991redwire12312025e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Fourth Quarter and Full Year 2025 Financial Results, Achieves Top End of 2025 Revenue Guidance Range with Record Contracted Backlog
JACKSONVILLE, Fla. / February 25, 2026 Redwire Corporation (NYSE:RDW, “Redwire” or the “Company”), a global leader in space and defense technology solutions, today announced results for its fourth quarter and full year ended December 31, 2025.
“2025 marked the transformation of Redwire into an integrated, multi-domain space and defense tech company. This evolution is reflected in our new structure, which we believe will enable us to maintain strong positioning and continue our growth trajectory across both established and rapidly emerging domains,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “With continued acceleration in contract awards during the fourth quarter of 2025 and confidence provided by our record Backlog1 of $411.2 million, we are entering 2026 with strong momentum.”
Fourth Quarter and Full Year 2025 Highlights
•Strengthened leadership in Very Low Earth Orbit (“VLEO”) with the award of a $44 million phase 2 contract to advance the Defense Advanced Research Projects Agency’s Otter mission during the fourth quarter of 2025, which leverages Redwire’s SabreSat.
•Entered into an eight-figure agreement with The Exploration Company (“TEC”) during the fourth quarter of 2025 to provide two International Berthing and Docking Mechanisms (“IBDM”) to support autonomous rendezvous and docking capabilities for TEC’s Nyx spacecraft.
•During 2025, launched 14 PIL-BOXes, studying 18 unique molecules, to the International Space Station (“ISS”); as of December 31, 2025, Redwire had eleven active payload facilities on the ISS.
•Completed acquisition of Edge Autonomy, a leading provider of field-proven uncrewed aerial systems (“UAS”) on June 13, 2025.
•Delivered more than 100 Stalker/Penguin UAS in 7 countries around the world subsequent to the Edge Autonomy acquisition, including the U.S. Army (directly and via the Long Range Reconnaissance (“LRR”) program), U.S. Marine Corps, and NATO and other allied nations.
•During the fourth quarter of 2025, opened a new 85,000 square foot facility in Ann Arbor, Michigan to increase production of critical fuel cells to meet growing demand, reflecting a key investment in a domestic, vertical integration strategy for Stalker UAS production.
•Revenues increased 10.3% year-over-year to $335.4 million for full year 2025 and increased 56.4% year-over-year to $108.8 million for the fourth quarter of 2025.
•Meaningful sequential and year-over-year increase in Book-to-Bill1 ratio on both an annual and quarterly basis to 1.32 as of full year 2025 and 1.52 as of the fourth quarter of 2025.
1 Backlog and Book-to-Bill are key business measures. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
•Ended full year 2025 with total liquidity2 of $130.2 million, a 103.2% increase over the end of 2024.
•Net Loss increased by $112.2 million year-over-year to $(226.6) million for full year 2025 and increased by $18.3 million year-over-year to $(85.5) million for the fourth quarter of 2025, both of which include the impact of more than $130 million and $40 million, respectively, in non-recurring activity.
•Adjusted EBITDA3 decreased by $49.5 million year-over-year to $(50.3) million for full year 2025 and decreased by $8.9 million year-over-year to $(18.1) million for the fourth quarter of 2025.
2026 Forecast
•For the full year ended December 31, 2026, Redwire is forecasting revenues of $450 million to $500 million.
“During the fourth quarter of 2025, we used proceeds from an efficient At-The-Market (“ATM”) program to repay $105.5 million of outstanding debt and in February 2026, we refinanced our remaining credit agreement. As a result of these proactive steps and additional debt repayment earlier in 2025, we have significantly strengthened our balance sheet and simplified our capital structure, with an estimated total annualized interest savings of over $17 million,” said Chris Edmunds, Chief Financial Officer of Redwire. “Our financial results in the fourth quarter of 2025 reflect substantial negative impact from EAC adjustments that were largely related to programs in the development stage, and as we head into 2026, our focus remains on transitioning these programs into production, which we expect will drive gross margin improvement.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Thursday, February 26, 2026 to review financial results for the fourth quarter and full year ended December 31, 2025. This release and the most recent investor slide presentation are availabl
Nov 5, 2025
2 exhibit991redwire9302025ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Third Quarter 2025 Financial Results
Revenues for the third quarter of 2025 increased by 50.7% year-over-year to $103.4 million
During the third quarter of 2025, we achieved a Gross Margin of 16.3% and an Adjusted Gross Margin1 of 27.1%
Year-over-year increase in Book-to-Bill2 ratio to 1.25 and Contracted Backlog2 to $355.6 million as of the third quarter of 2025
Awarded contract to develop and deliver Roll-Out Solar Arrays for Axiom Space’s first commercial space station module
Uncrewed aerial system deliveries during the quarter included Stalker systems for the U.S. Army’s Long Range Reconnaissance program and Penguin systems for the Ukrainian Armed Forces
Launched 14 PIL-BOXes to the ISS during the third quarter of 2025 with three different partners: Bristol Myers Squibb, Butler University, and Purdue University
JACKSONVILLE, Fla. / November 5, 2025 Redwire Corporation (NYSE:RDW, “Redwire” or the “Company”), a global leader in space and defense technology solutions, today announced results for its third quarter ended September 30, 2025.
Redwire will live stream a presentation with slides on November 6, 2025 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=pKJoXZFg
“The transformation of Redwire into a scalable, multi-domain growth platform made consistent progress in the third quarter. As anticipated, the acquisition of Edge Autonomy has immediately strengthened our positioning technically, operationally, and financially and we anticipate further revenue synergies as we scale. Operationally, in the third quarter, we have sharpened our internal execution by eliminating costs from the business and streamlining operations. These efforts resulted in an Adjusted Gross Margin1 of 27.1%, driving a significant improvement to our bottom-line,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “We closed key strategic opportunities such as Roll-Out Solar Arrays for Axiom Space’s future commercial space station and Stalker UAS sales for the U.S. Army and an undisclosed European NATO ally, ending the third quarter with a Book-to-Bill2 ratio of 1.25. As we look forward, we continue to see positive demand signals from both the U.S. and Europe for our products and solutions, such as our combat-proven Stalker and Penguin unmanned systems, differentiated VLEO SabreSat and Phantom spacecraft, and large space systems such as ROSAs and International Berthing and Docking Mechanisms (IBDMs). In the near term, the U.S.
1 Adjusted Gross Profit and Adjusted Gross Margin are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding these Non-GAAP measures.
2 Book-to-Bill and Contracted Backlog are key business measures. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
government shutdown is likely to delay the timing of key awards into 2026, but the pipeline of new opportunities is very strong.”
Third Quarter 2025 Highlights
•Revenues for the third quarter of 2025 increased 50.7% to $103.4 million, as compared to $68.6 million for the third quarter of 2024.
•Net Loss for the third quarter of 2025 increased by $20.2 million to $(41.2) million, as compared to $(21.0) million for the third quarter of 2024.
•Adjusted EBITDA3 for the third quarter of 2025 decreased by $5.0 million to $(2.6) million, as compared to $2.4 million for the third quarter of 2024.
•During the third quarter of 2025, the Company had net unfavorable EAC changes of $8.3 million, which impacted third quarter of 2025 revenues, gross profit, and net loss, and as a result, Adjusted EBITDA.3
•On a quarterly basis, Book-to-Bill4 ratio was 1.25 as of the third quarter of 2025, as compared to 0.65 as of the third quarter of 2024.
•Net cash used in operating activities for the third quarter of 2025 increased by $2.7 million to $(20.3) million, as compared to $(17.7) million for the third quarter of 2024.
•Free Cash Flow3 for the third quarter of 2025 was $(27.8) million, as compared to $(20.5) million for the third quarter of 2024.
•Ended the third quarter of 2025 with total liquidity5 of $89.3 million, as compared to $61.1 million for the third quarter of 2024.
2025 Forecast
•Due to the ongoing U.S. government shutdown, a number of our anticipated orders have been pushed out of the quarter and into 2026. As a result, for the twelve months ended December 31, 2025, Redwire, including Edge Autonomy from the date of close (June 13, 2025), is forecasting full year reven
Aug 6, 2025
2 exhibit991redwire6302025ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Second Quarter 2025 Financial Results
Completed acquisition of Edge Autonomy on June 13, 2025, transforming Redwire into an integrated space and defense tech company focused on advanced technologies
Stalker uncrewed aerial system added to Department of Defense’s Blue List of Approved Drones; in July 2025, awarded a prototype phase agreement by the U.S. Army to develop and deliver Stalker systems for the Long Range Reconnaissance program
Achieved key technical milestones, including a successful Roll-Out Solar Array deployment test for lunar Gateway and a Critical Design Review with NASA participation for Mason, our lunar and Martian manufacturing technology
Sequential increase in Book-to-Bill1 ratio to 1.47 as of the second quarter of 2025
Revenues for the second quarter of 2025 were $61.8 million, Net Loss was $(97.0) million and Adjusted EBITDA2 was $(27.4) million, with record total liquidity3 of $113.6 million
JACKSONVILLE, Fla. / August 6, 2025 Redwire Corporation (NYSE:RDW, “Redwire” or the “Company”), a global leader in space and defense technology solutions, today announced results for its second quarter ended June 30, 2025.
Redwire will live stream a presentation with slides on August 7, 2025 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=Htojl6k0
“During the second quarter, we completed our acquisition of Edge Autonomy, establishing Redwire as an integrated global space and defense tech company specializing in multi-domain solutions,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “Although we continued to see delays in the U.S. government’s budget approval processes throughout 2025, we have begun to see positive indicators as well. Whether Golden Dome, U.S. drone dominance, or increased defense spending internationally by NATO allies, we are well-positioned to capitalize on high-growth trends going forward.
Additionally, we are excited to announce the formation of SpaceMD, a new entity founded to commercialize on Redwire’s microgravity drug development breakthroughs, and the signing of a trailblazing royalty agreement with ExesaLibero Pharma, Inc., under which we expect to receive royalties from the commercial sales of resulting pharmaceutical products.”
1 Book-to-Bill is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
2 Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding this Non-GAAP measure.
3 Total liquidity of $113.6 million as of June 30, 2025 is comprised of $76.5 million in cash and cash equivalents, $35.0 million in available borrowings from our existing credit facilities, and $2.1 million in restricted cash.
Page 1
Second Quarter 2025 Highlights
•Revenues for the second quarter of 2025 decreased 20.9% to $61.8 million, as compared to $78.1 million for the second quarter of 2024.
•Net Loss for the second quarter of 2025 increased by $78.9 million to $(97.0) million, as compared to $(18.1) million for the second quarter of 2024. Net Loss for the second quarter included in excess of $(90.0) million in expenses related to non-cash; transaction-related; EAC adjustments; and non-routine activity that included: $29.6 million related to equity-based compensation primarily from the Edge Autonomy acquisition, $16.6 million in transaction expenses, $25.2 million in net, unfavorable EAC impacts, and $20.0 million in interest expense from the repayment of a seller note associated with the Edge Autonomy transaction.
•Adjusted EBITDA4 for the second quarter of 2025 decreased by $29.0 million to $(27.4) million, as compared to $1.6 million for the second quarter of 2024.
•During the second quarter of 2025, the Company had net unfavorable EAC changes of $25.2 million, which impacted second quarter of 2025 revenues, gross profit, and net loss, and as a result, Adjusted EBITDA.4 The net unfavorable EAC adjustments in the second quarter of 2025 were primarily due to a single program in the Company’s RF systems offerings as a result of an increase in estimates made for the programmatic and technical assumptions based on the nature and technical complexity of the work to be performed to meet customer specifications. The unfavorable adjustments were also due to production delays, additional unplanned labor and increased production costs as it relates to the development of advanced technologies required to meet customer specifications in multiple space offerings
May 12, 2025
2 exhibit991redwire3312025ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports First Quarter 2025 Financial Results
In January 2025, announced agreement to acquire Edge Autonomy; subsequently announced receipt of all regulatory approvals for the transaction
Awarded contract from Thales Alenia Space to provide International Berthing and Docking Mechanism for Lunar I-Hab module
Awarded NASA contract to launch four additional pharmaceutical drug investigations to the International Space Station using PIL-BOX
Significant year-over-year and sequential increase in Book-to-Bill1 ratio to 0.92 as of the first quarter of 2025
Revenues for the first quarter of 2025 were $61.4 million, Net Loss was $(2.9) million and Adjusted EBITDA2 was $(2.3) million, with record total liquidity3 of $89.2 million
JACKSONVILLE, Fla. / May 12, 2025 Redwire Corporation (NYSE: RDW, “Redwire” or the “Company”), a leader in space infrastructure for the next generation space economy, today announced results for its first quarter ended March 31, 2025.
Redwire will live stream a presentation with slides on May 12, 2025 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=4F31SXFe
“Bookings increased significantly compared to Q4 2024, with key wins coming from the European market; however, there were notable delays in awards in the U.S. government market due to transition of key decision makers in NASA, SDA and other agencies, as well as budget uncertainty associated with new administration priorities. However, we are confident that Redwire’s geographic, product and customer diversity across Civil, Commercial, and National Security markets continues to provide resiliency in our business model,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “At a time when European defense and space budgets are increasing, Redwire is expanding its presence in Europe with a new office in Poland to support ongoing international wins including a contract from Thales Alenia Space for the IBDM I-Hab as well as ESA study contracts for the Mars LightShip initiative and ARRAKIHS dark matter mission.”
1 Book-to-Bill is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
2 Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding this Non-GAAP measure.
3 Total liquidity of $89.2 million as of March 31, 2025 is comprised of $54.2 million in cash and cash equivalents and $35.0 million in available borrowings from our existing credit facilities.
Page 1
First Quarter 2025 Highlights
•Revenues for the first quarter of 2025 decreased 30.1% to $61.4 million, as compared to $87.8 million for the first quarter of 2024.
•Net Loss for the first quarter of 2025 decreased by $5.1 million to $(2.9) million, as compared to $(8.1) million for the first quarter of 2024.
•Adjusted EBITDA4 for the first quarter of 2025 decreased by $6.5 million to $(2.3) million, as compared to $4.3 million for the first quarter of 2024.
•During the first quarter of 2025, the Company had net unfavorable EAC changes of $3.1 million, which impacted first quarter of 2025 revenues, gross profit, and net loss, and as a result, Adjusted EBITDA.4 These net unfavorable EAC changes were primarily due to additional unplanned labor and increased production costs as it relates to the development of new technologies required to meet customer specifications in the Company’s structures and mechanisms and avionics, sensors and payloads infrastructure offerings.
•On a quarterly basis, Book-to-Bill5 ratio was 0.92 as of the first quarter of 2025, as compared to 0.40 as of the first quarter of 2024.
•Net cash used in operating activities for the first quarter of 2025 increased by $47.8 million to $(45.1) million, as compared to net cash provided by operating activities of $2.8 million for the first quarter of 2024. Net cash used in operating activities for the first quarter of 2025 included one-time payments of $8.0 million related to litigation settlements and $3.4 million related to M&A activities.
•Free Cash Flow4 for the first quarter of 2025 was $(49.1) million, as compared to $0.4 million for the first quarter of 2024.
2025 Forecast
•For the twelve months ended December 31, 2025, Redwire, as a combined company assuming the previously announced transaction with Edge Autonomy had been consummated on January 1, 2025, is forecasting full year revenues6 of $535 million to $605 million and Adjusted EBITDA4,6 of $70 million to $105 million with positive Free Cash Fl
Mar 11, 2025
2 exhibit991q42024investor.htm
exhibit991q42024investor
Exhibit 99.1 Q4 2024 Investor Additional Information and Where to Find It Redwire will file with the SEC a proxy statement relating to a special meeting of Redwire's stockholders (the "proxy statement"). STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT REDWIRE, EDGE AUTONOMY, THE TRANSACTION AND RELATED MATTERS. Stockholders will be able to obtain free copies of the proxy statement and other documents filed with the SEC by the parties through the website maintained by the SEC at www.sec.gov. In addition, investors and stockholders will be able to obtain free copies of the proxy statement and other documents filed with the SEC by the parties on investor relations section of Redwire's website at redwirespace.com. Participants in the Solicitation Redwire and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Redwire in respect of the proposed business combination contemplated by the proxy statement. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the stockholders of Redwire, respectively, in connection with the proposed business combination, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement when it is filed with the SEC. Information regarding Redwire's directors and executive officers is contained in Redwire's Annual Report on Form 10-K for the year ended December 31, 2023 and its Proxy Statement on Schedule 14A, dated April 22, 2024, which are filed with the SEC. No Offer or Solicitation This Presentation is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed business combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Use of Data Industry and market data used in this Presentation have been obtained from third-party industry publications and sources, as well as from research reports prepared for other purposes. Redwire or Edge Autonomy have not independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. Statements other than historical facts, including, but not limited to, those concerning market conditions or trends, consumer or customer preferences or other similar concepts with respect to Redwire, Edge Autonomy and the expected combined company, are based on current expectations, estimates, projections, targets, opinions and/or beliefs of Redwire or, when applicable, of one or more third-party sources. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. The metrics regarding select aspects of Redwire's, Edge Autonomy's and the expected combined company's operations were selected by Redwire or its subsidiaries on a subjective basis. Such metrics are provided solely for illustrative purposes to demonstrate elements of Redwire's businesses, are incomplete, and are not necessarily indicative of Redwire's, Edge Autonomy's or their subsidiaries' performance or overall operations. There can be no assurance that historical trends will continue. Use of Projections The financial outlook and projections, estimates and targets in this Presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainty and contingencies, many of which are beyond Redwire's or Edge Autonomy's control. Neither Redwire nor Edge Autonomy's independent auditors have audited, reviewed, compiled or performed any procedures with respect to the financial projections for purposes of inclusion in this Presentation, and, accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purposes of this Presentation. While all financial projections, estimates and targets are necessarily speculative, Redwire believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expec
Mar 10, 2025
2 exhibit991redwire12312024e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Fourth Quarter and Full Year 2024 Financial Results
Revenues for full year 2024 increased 24.7% year-over-year to $304.1 million
2024 accomplishments included securing a follow-on order of Roll-Out Solar Arrays for Thales Alenia Space, receiving a DARPA prime contract for our SabreSat VLEO platform, and launching 27 PIL-BOXes for our partners including Bristol Myers Squibb, Eli Lilly, and ExesaLibero Pharma
In January 2025, announced agreement to acquire Edge Autonomy in a transformational transaction that is expected to create a multi-domain, scaled and profitable space and defense tech company
Significant sequential increase in net cash provided by operations to positive $7.1 million and Free Cash Flow1 to positive $3.0 million for the fourth quarter of 2024
Net Loss for full year 2024 was $(114.3) million and Adjusted EBITDA1 for full year 2024 was $(0.8) million
JACKSONVILLE, Fla. / March 10, 2025 Redwire Corporation (NYSE: RDW, the “Company”), a leader in space infrastructure for the next generation space economy, today announced results for its fourth quarter and full year ended December 31, 2024.
Redwire will live stream a presentation with slides on March 11, 2025 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=eUoAeMLJ
“Redwire continues to execute against its core business while moving up the value chain, supported by accretive M&A. As a result, we have a strong and sustainable foundation for success in 2025,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “We see strong demand for our products in space and defense tech and continue to differentiate ourselves in the market with innovative technologies and strong financial performance.”
Full Year 2024 Highlights
•Revenues for full year 2024 increased 24.7% to $304.1 million, as compared to $243.8 million for full year 2023.
•Net Loss for full year 2024 increased by $87.0 million to $(114.3) million, as compared to $(27.3) million for full year 2023. Net Loss for full year 2024 includes a $52.0 million non-cash loss as a result of an increase in the fair value of the Company’s private warrant liability for the year ended December 31, 2024 as compared to a $2.0 million non-cash loss during the same period of 2023. In addition, Net Loss for full year 2024 includes a loss contingency, net of an anticipated insurance recovery, of $7.0 million related to the Lemen v. Redwire Corp. securities lawsuit, for which there is no comparable loss contingency for 2023.
1 Adjusted EBITDA and Free Cash Flow are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding these Non-GAAP measures.
Page 1
•Adjusted EBITDA2 for full year 2024 decreased by $16.2 million to $(0.8) million, as compared to $15.3 million for full year 2023.
•The Company had full year 2024 net unfavorable EAC changes of $17.7 million, which impacted full year 2024 revenues, gross profit, and net loss, and as a result, Adjusted EBITDA.2 The net unfavorable EAC changes were primarily due to additional unplanned labor, design and test cycles required to meet customer requirements in the Company’s spacecraft platforms and missions, structures and mechanisms, avionics, sensors and payloads, and power generation space infrastructure offerings. These net unfavorable EAC adjustments were partially offset by favorable contract adjustments resulting from contract close-outs and modifications in RF systems.
•On a full year basis, Book-to-Bill3 ratio was 0.76 for full year 2024, as compared to 1.23 for full year 2023.
•Net cash used in operating activities for full year 2024 increased by $18.6 million to $(17.3) million, as compared to net cash provided by operating activities of $1.2 million for full year 2023.
•Free Cash Flow2 for full year 2024 was $(28.3) million, as compared to $(7.1) million for full year 2023.
Fourth Quarter 2024 Highlights
•Revenues for the fourth quarter of 2024 increased 9.6% to $69.6 million, as compared to $63.5 million for the fourth quarter of 2023.
•Net Loss for the fourth quarter of 2024 increased by $59.0 million to $(67.2) million, as compared to $(8.2) million for the fourth quarter of 2023. Net Loss for the fourth quarter of 2024 includes a $43.8 million non-cash loss as a result of an increase in the fair value of the Company’s private warrant liability for the quarterly period ended December 31, 2024 as compared to a $0.5 million non-cash gain during the same period of 2023.
•Adjusted EBITDA2 for the fourth quarter of 2024 decreased by $
Jan 21, 2025
2 exhibit991calltranscript.htm
Document
Exhibit 99.1
Redwire Corporation
Conference Call
January 21, 2025
Presenters
Jeff Zeunik, Senior VP of Financial Planning & Analysis
Peter Cannito, President, CEO & Chairman
Jonathan Baliff, CFO & Director
Suji Desilva - Roth Capital Partners
Brian Kinstlinger - Alliance Global Partners
Mike Crawford - B. Riley Securities
Greg Konrad - Jefferies
Greetings and welcome to the Redwire Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press star-zero on your telephone keypad. As a reminder, this conference is being recorded.
It is now my pleasure to introduce Jeffrey Zeunik, SVP Financial Planning and Analysis, and Investor Relations. Thank you. You may begin.
Jeff Zeunik
Good morning, and thank you, Darrell. We appreciate everyone joining us today to discuss this exciting development. We hope that you have seen our announcement press release which we issued yesterday afternoon. It has also been posted in the Investor Relations section of our website at Redwirespace.com.
Let me remind everyone that during the call, Redwire management may make forward-looking statements that reflect our beliefs, expectations, intentions, or predictions of the future. Our forward-looking statements are subject to the risks and uncertainties that are described in more detail on slide two. Additionally, to the extent we discuss non-GAAP measures during the call, please see slide three of this investor presentation on our website for the calculation of these measures and their reconciliation to U.S. GAAP measures.
I am Jeff Zeunik, Redwire's Senior Vice President of Financial Planning and Analysis and Investor Relations. Joining me on today's call are Peter Cannito, Redwire's Chairman and Chief Executive Officer, and Jonathan Baliff, Redwire's Chief Financial Officer. For those who may be joining us for the first time, I would like to provide a bit of biographical detail for Pete and Jonathan before turning the presentation over.
Please turn to slide four. Pete has more than 25 years of experience in aerospace and defense. In addition to his roles at Redwire, he is the chairman of the board for BigBear.ai. Prior to Redwire, Pete previously held various roles of increasing responsibility, including that of CEO for Polaris Alpha, a private equity backed, high-growth defense technology company that was acquired by Parsons. Pete has also led defense programs at Booz Allen Hamilton, and began his career as an officer in the United States Marine Corps. Pete currently holds high-level security clearances with special accesses.
Jonathan has been an aerospace, energy, and infrastructure executive for more than 30 years. Along with being Redwire's CFO, he is also a member of Redwire's board, and he previously held the roles of CFO and then CEO at Bristow Group, one of the largest vertical flight and helicopter companies in the world. Prior to Bristow, Jonathan worked at NRG Energy, Credit Suisse First Boston, and J.P. Morgan. Like Pete, Jonathan is a veteran, having served as an Air Force officer and aviator flying the F-4 Phantom.
Please turn to slide five. With that, I would like to turn the call over to Pete. Pete?
Peter Cannito
Thanks, Jeff, and thank you all for taking the time to join me for the announcement of this important and transformational combination. During today's call, I will introduce you to Edge Autonomy and then take you through the industrial logic and benefits of
the combination of Redwire and Edge Autonomy. Jonathan will then present a financial overview and strengths of the transaction, after which we will open the floor for Q&A.
Please turn to slide six. In this transaction, Redwire is acquiring Edge Autonomy for $925 million dollars, expected to be paid in using $150 million in cash and $775 million in stock. Edge Autonomy is a leader in providing field-proven, innovative, autonomous and uncrewed airborne systems, advanced optics, and resilient energy solutions.
We view the Edge Autonomy acquisition as complementary to, and an extension of, the investments Redwire has already been making in joint and autonomous platforms for the warfighter. Together, Redwire and Edge Autonomy will deliver multi-domain autonomous space and airborne platforms and associated enabling technologies in the areas of avionics, sensors, power, communications, digital engineering, computer vision, and AI-enabled autonomy software.
Redwire expects the transaction to significantly expand our total addressable market, support organic growth, high-growth opportunities as a defense tech company, and be immediately accretive to revenue, Adjusted EBITDA, and free cash flow. Post-transaction, Redwire expects to have a strong balance sheet with significant improved liquidity.
The transaction is expe
Nov 6, 2024
2 exhibit991redwire9302024ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Third Quarter 2024 Financial Results
Revenues for the third quarter of 2024 increased 9.6% year-over-year to $68.6 million
Completed acquisition of Hera Systems, a spacecraft development company; the acquisition expands Redwire’s spacecraft portfolio to support specialized national security missions
Contracted Backlog1 increased by 30.2% year-over-year to $330.1 million at September 30, 2024 as compared to $253.4 million at September 30, 2023
Total liquidity2 as of September 30, 2024 was $61.1 million, a 98.0% increase over September 30, 2023
Net Loss for the third quarter of 2024 was $(21.0) million and Adjusted EBITDA3 for the third quarter of 2024 was $2.4 million
JACKSONVILLE, Fla. / November 6, 2024 Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, today announced results for its third quarter ended September 30, 2024.
Redwire will live stream a presentation with slides on November 7, 2024 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=NUi3LwfF
“Mergers and acquisitions are a core strength of Redwire and important to our growth strategy. During the third quarter, Redwire returned to our M&A roots by closing on the purchase of Hera Systems - our tenth acquisition. Hera Systems brings a highly competent team and two new platforms to Redwire’s spacecraft portfolio, expanding our ability to execute larger missions, particularly in our national security segment,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “The significant increase in bids submitted and backlog on a year-over-year basis indicates that our growth strategy is showing increasing potential.”
Third Quarter 2024 Highlights
•Revenues for the third quarter of 2024 increased 9.6% to $68.6 million, as compared to $62.6 million for the third quarter of 2023.
•Net Loss for the third quarter of 2024 increased by $14.6 million to $(21.0) million, as compared to $(6.3) million for the third quarter of 2023. Net Loss for the third quarter of 2024 includes a loss contingency of $8.0 million
1 Contracted Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
2 Total liquidity of $61.1 million as of September 30, 2024, comprised of $27.8 million in cash and cash equivalents, $18.0 million in available borrowings from our existing credit facilities, and $15.3 million in restricted cash which includes $7.8 million of proceeds received from third-parties that is refundable except in certain limited circumstances. Restricted cash consists of a cash-collateralized standby letter of credit for a submitted proposal.
3 Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding this Non-GAAP measure.
Page 1
related to the Lemen v. Redwire Corp. securities lawsuit, of which there is no comparable cost for the third quarter of 2023.
•Adjusted EBITDA4 for the third quarter of 2024 decreased by $2.5 million to $2.4 million, as compared to $4.9 million for the third quarter of 2023.
•On a last twelve month (LTM) basis, Book-to-Bill5 ratio was 1.25 as of the third quarter of 2024, as compared to 1.38 as of the third quarter of 2023. On a quarterly basis, Book-to-Bill5 ratio was 0.65 as of the third quarter of 2024, as compared to 0.74 as of the third quarter of 2023.
•Net cash used in operating activities for the third quarter of 2024 increased by $14.4 million to $(17.7) million, as compared to net cash used in operating activities of $(3.3) million for the third quarter of 2023.
•Free Cash Flow4 for the third quarter of 2024 decreased by $14.5 million to $(20.5) million, as compared to $(5.9) million for the third quarter of 2023.
2024 Forecast
•For the full year ended December 31, 2024, Redwire affirms that it is forecasting revenues of $310 million.
“Redwire continued its robust top line performance during the third quarter, with revenue for the nine months ended September 30, 2024 reaching $234.5 million, a 30.1% improvement year-over-year,” said Jonathan Baliff, Chief Financial Officer of Redwire. “We again achieved positive Adjusted EBITDA4 during the quarter of $2.4 million, while continuing to make significant investments for growth. Having seen a more than tripling in bids submitted year-over-year to $2.9 billion for the nine months ended September 30, 2024, and a year-over-year improvement in backlog5 of 30.2% to $330.1 million, we enter the final quarter o
Aug 7, 2024
2 exhibit991redwire6302024ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Second Quarter 2024 Financial Results
Revenues for the second quarter of 2024 increased 30.0% year-over-year to $78.1 million
Net Loss was $(18.1) million and Adjusted EBITDA1 was $1.6 million for the second quarter of 2024
Bookings for the second quarter of 2024 were $114.4 million, a 226.0% sequential increase from Q1 2024
Awarded prime contract for SabreSat VLEO platform under DARPA’s Otter program; Under contract for follow-on order of Roll-Out Solar Array wings for Thales Alenia Space’s Space Inspire satellites
Net cash provided by (used in) operating activities was a use of $9.5 million on a quarterly basis and a positive source of $5.7 million on an LTM basis as of the second quarter of 2024
Contracted Backlog2 increased by 29.9% year-over-year to $354 million on June 30, 2024 as compared to $273 million on June 30, 2023
Total available liquidity3 as of June 30, 2024 was $55.8 million, a 54.1% increase over June 30, 2023
JACKSONVILLE, Fla. / August 7, 2024 Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, today announced results for its second quarter ended June 30, 2024.
Redwire will live stream a presentation with slides on August 8, 2024 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=NVI0NEKI
“During the second quarter we continued to execute on our 2024 growth strategy, resulting in year-over-year revenue growth of 30.0% and a 29.9% year-over-year increase in Contracted Backlog2,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “With our reliability and innovation driving key wins in the quarter, including our first SabreSat VLEO flight contract, we enter the second half of the year with strong financial and technical momentum.”
Second Quarter 2024 Highlights
•Revenues for the second quarter of 2024 increased 30.0% to $78.1 million, as compared to $60.1 million for the second quarter of 2023.
•Net Loss for the second quarter of 2024 increased by $12.6 million to $(18.1) million, as compared to $(5.5) million for the second quarter of 2023. Net Loss for the second quarters of 2024 and 2023 includes a $9.0 million non-cash
1 Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding this Non-GAAP measure.
2 Contracted Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
3 Total available liquidity was $55.8 million as of June 30, 2024, comprised of $30.8 million in cash and cash equivalents and $25.0 million in available borrowings from our existing credit facilities.
Page 1
loss and an $(0.8) million non-cash gain, respectively, associated with the warrant liability change in fair value adjustment.
•Adjusted EBITDA4 for the second quarter of 2024 decreased by $2.7 million to $1.6 million, as compared to $4.4 million for the second quarter of 2023.
•On a last twelve month (LTM) basis, Book-to-Bill5 ratio was 1.28 as of the second quarter of 2024, as compared to 1.49 as of the second quarter of 2023. On a quarterly basis, Book-to-Bill5 ratio was 1.47 as of the second quarter of 2024, as compared to 0.76 as of the second quarter of 2023.
•Net cash provided by (used in) operating activities for the second quarter of 2024 decreased by $12.4 million to $(9.5) million, as compared to net cash provided by (used in) operating activities of $2.8 million for the second quarter of 2023.
•Free Cash Flow4 for the second quarter of 2024 decreased by $12.3 million to $(11.2) million, as compared to $1.1 million for the second quarter of 2023.
2024 Forecast
•For the full year ended December 31, 2024, Redwire affirms that it is forecasting revenues of $300 million.
“Redwire continued strong revenue performance through the second quarter, with revenue for the first half of 2024 climbing to $165.9 million, a 41.0% improvement year-over-year,” said Jonathan Baliff, Chief Financial Officer of Redwire. “During the second quarter, we achieved positive Adjusted EBITDA4 of $1.6 million, which includes a negative impact of $3.1 million from net EAC adjustments, while continuing to make prudent investments. In addition, our net cash provided by operating activities remained positive on an LTM basis and our available liquidity grew to $55.8 million as of June 30, 2024, a significant increase of 54.1% over June 30, 2023. With bids growing to approximately $1.9 billion submitted year-to-date in 2024, and an LTM Book-to-B
May 8, 2024
2 exhibit991redwire3312024ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports First Quarter 2024 Financial Results
Revenues for the first quarter of 2024 increased 52.4% year-over-year to $87.8 million
Net Loss was $(8.1) million and Adjusted EBITDA1 was $4.3 million for the first quarter of 2024
Net cash provided by operating activities for the first quarter of 2024 improved year-over-year by $16.8 million to positive $2.8 million and Free Cash Flow1 improved by $15.2 million to positive $0.4 million
Meaningful increase in pipeline to approximately $6.3 billion with $610.0 million in bids submitted year-to-date through March 31, 2024
Under contract for 18 ship sets of antennas and RF hardware for the SDA Transport Layer; Awarded first study related to SabreSat VLEO platform
JACKSONVILLE, Fla. / May 8, 2024 Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, today announced results for its first quarter ended March 31, 2024.
Redwire will live stream a presentation with slides on May 9, 2024 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=8AZMVZ7u
“During the first quarter we executed on our 2024 growth strategy as planned, resulting in both record revenue of $87.8 million and positive Adjusted EBITDA1,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “We’ve started the year strong with many large, transformative opportunities in the pipeline.”
First Quarter 2024 Highlights
•Revenues for the first quarter of 2024 increased 52.4% to $87.8 million, as compared to $57.6 million for the first quarter of 2023.
•Net Loss for the first quarter of 2024 increased by $0.8 million to $(8.1) million, as compared to $(7.3) million for the first quarter of 2023.
•Adjusted EBITDA1 for the first quarter of 2024 was flat with the first quarter of 2023 at $4.3 million.
•On a last twelve month (LTM) basis, Book-to-Bill2 ratio was 1.11 as of the first quarter of 2024, as compared to 1.76 as of the first quarter of 2023.
•Net cash provided by operating activities for the first quarter of 2024 improved by $16.8 million to $2.8 million, as compared to net cash (used in) operating activities of $(14.0) million for the first quarter of 2023.
1 Adjusted EBITDA and Free Cash Flow are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding these Non-GAAP measures.
2 Book-to-bill is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
•Free Cash Flow3 for the first quarter of 2024 improved by $15.2 million to $0.4 million, as compared to $(14.8) million for the first quarter of 2023.
2024 Forecast
•For the full year ended December 31, 2024, Redwire affirms that it is forecasting revenues of $300 million.
“Redwire has started 2024 strong, with record first quarter revenue of $87.8 million, a 52.4% improvement year-over-year,” said Jonathan Baliff, Chief Financial Officer of Redwire. “We achieved positive Adjusted EBITDA3 of $4.3 million, a significant sequential increase from the fourth quarter of 2023. Importantly, we achieved a positive net cash flow from operations of $2.8 million and positive Free Cash Flow3 of $0.4 million while investing record amounts for first quarter Research & Development and CapEx. We expect continued momentum throughout the year with more than $600 million in organic bids already submitted in 2024, as we continue to scale and diversify our business on a proven path to profitability.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Thursday, May 9, 2024 to review financial results for the first quarter ended March 31, 2024. This release and the most recent investor slide presentation are available in the investor relations area of our website at redwirespace.com.
Redwire will live stream a presentation with slides during the call. Please use the following link to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=8AZMVZ7u. The dial-in number for the live call is 877-485-3108 (toll free) or 201-689-8264 (toll), and the conference ID is 13746058.
A telephone replay of the call will be available for two weeks following the event by dialing 877-660-6853 (toll-free) or 201-612-7415 (toll) and entering the access code 13746058. The accompanying investor presentation will be available on May 9, 2024 on the investor section of Redwire’s website at redwirespace.com.
Any replay, rebroadcast, transcript or other reproduc
Mar 14, 2024
2 exhibit991redwire12312023e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Fourth Quarter and Full Year 2023 Financial Results
Revenues for full year 2023 increased 51.9% to $243.8 million
Net Loss for full year 2023 improved by $103.4 million to $(27.3) million
Adjusted EBITDA1 for full year 2023 increased by $26.3 million to $15.3 million
Net cash provided by (used in) operating activities for the fourth quarter of 2023 improved by $20.5 million to $15.7 million
Book-to-bill2 ratio for the fourth quarter of 2023 was 2.81
JACKSONVILLE, Fla. / March 14, 2024 Redwire Corporation (NYSE: RDW), a leading innovator in space infrastructure enabling space mission providers with the foundational building blocks and integrated solutions needed for complex space missions, today announced results for its fourth quarter and full year ended December 31, 2023. Unless otherwise referred to as Comparable Revenues, financial information presented herein includes the results of Space NV for periods including and subsequent to the acquisition date of October 31, 2022.
Redwire will live stream a presentation with slides on March 15, 2024 at 9:00 a.m. ET. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ORQbTdYl
“During 2023, Redwire achieved four consecutive quarters of revenue growth and positive Adjusted EBITDA1,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “This trend is expected to continue in 2024 with Contracted Backlog2 of $372.8 million at the start of the year. In addition, we expect to aggressively add new business by scaling production, expanding our offerings, and bidding on larger contracts. For instance, in Q4 2023 Redwire signed an approximately $142 million contract with an undisclosed satellite manufacturer to produce Roll Out Solar Arrays.”
Full Year 2023 Highlights
•Revenues for full year 2023 increased 51.9% to $243.8 million, as compared to $160.5 million for the full year 2022.
•Net Loss for full year 2023 improved by $103.4 million to $(27.3) million, as compared to $(130.6) million for the full year 2022.
•Adjusted EBITDA1 for full year 2023 increased by $26.3 million to $15.3 million, as compared to $(11.0) million for the full year 2022.
1 Adjusted EBITDA are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding these Non-GAAP measures.
2 Book-to-bill and Contracted Backlog are key business measures. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
•Contracted Backlog3 increased 19.1% year-over-year to $372.8 million as of December 31, 2023, as compared to $313.1 million as of December 31, 2022.
•On a full year basis, book-to-bill3 was 1.23 for 2023, as compared to 2.04 for 2022.
•Total available liquidity was $48.3 million as of December 31, 2023, comprised of $30.3 million in cash and cash equivalents and $18.0 million in available borrowings from our existing credit facilities.
Fourth Quarter 2023 Highlights
•Revenues for the fourth quarter of 2023 increased 18.2% to $63.5 million, as compared to $53.7 million for the fourth quarter of 2022.
•Comparable Revenues4 for the fourth quarter of 2023 increased 15.5% to $48.6 million, as compared to $42.0 million for the fourth quarter of 2022.
•Net Loss for the fourth quarter of 2023 improved 68.2% to $(8.2) million, as compared to $(25.9) million for the fourth quarter of 2022.
•Adjusted EBITDA4 for the fourth quarter of 2023 increased by $2.5 million to $1.7 million, as compared to $(0.8) million for the fourth quarter of 2022.
•Book-to-bill3 ratio for the fourth quarter of 2023 was 2.81, as compared to 3.74 as of the fourth quarter of 2022.
•Net cash provided by (used in) operating activities for the fourth quarter of 2023 improved by $20.5 million to $15.7 million, as compared to $(4.8) million for the fourth quarter of 2022.
•Free Cash Flow4 for the fourth quarter of 2023 was $12.6 million, as compared to $(5.5) million for the fourth quarter of 2022.
2024 Forecast
•For the full year ended December 31, 2024, Redwire is forecasting revenues of $300 million.
“Redwire finished 2023 with strong commercial and financial performance in the fourth quarter, recognizing record revenues of $63.5 million and positive Adjusted EBITDA4 of $1.7 million in Q4 2023, which includes a negative impact from net EAC adjustments during the fourth quarter” said Jonathan Baliff, Chief Financial Officer of Redwire. “Redwire saw marked financial improvement on a year-over-year basis, with a 51.9% increase in revenues. 2023 profitability improvem
Nov 6, 2023
2 exhibit991redwire09302023e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Third Quarter 2023 Financial Results
JACKSONVILLE, Fla. / November 6, 2023 Redwire Corporation (NYSE: RDW), a global leader in space infrastructure that provides the foundational building blocks that are enabling the most complex space missions, today announced results for its third quarter ended September 30, 2023. Unless otherwise referred to as Comparable Revenues, financial information presented herein includes the results of Space NV for periods including and subsequent to the acquisition date of October 31, 2022.
Redwire will live stream a presentation with slides on November 7, 2023 at 9:00 a.m. ET. Please use the link below to follow along with the live stream:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=7sq0B6S0
Third Quarter 2023 Highlights
•Revenues for the third quarter of 2023 increased 68.1% to $62.6 million, as compared to $37.2 million for the third quarter of 2022. Revenues also grew sequentially by 4.2%, as compared to the second quarter of 2023.
•Comparable Revenues1 for the third quarter of 2023 increased 31.8% to $49.1 million, as compared to $37.2 million for the third quarter of 2022. Comparable Revenues also grew sequentially by 7.1%, as compared to the second quarter of 2023.
•Net Loss for the third quarter of 2023 improved 39.3% to $(6.3) million, as compared to $(10.4) million for the third quarter of 2022. Net Loss increased sequentially by $0.9 million or 15.7%, as compared to the second quarter of 2023.
•Adjusted EBITDA1 for the third quarter of 2023 increased by $6.4 million to $4.9 million as compared to $(1.5) million for the third quarter of 2022. Adjusted EBITDA increased sequentially by $0.6 million as compared to the second quarter of 2023.
•Contracted Backlog2 increased 59.5% year-over-year to $253.4 million as of September 30, 2023, as compared to $158.9 million as of September 30, 2022.
•For the full year ended December 31, 2023, Redwire affirms that it expects revenues to be in a range of $220.0 million to $250.0 million.
“Q3 was our third consecutive quarter of strong revenue growth and positive Adjusted EBITDA1,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “We continue to be disciplined in our technical execution, balancing growth with performance. This results in Redwire’s team of talented space professionals delivering real value for our customers in the present that positions us well for future success.”
1Comparable Revenues and Adjusted EBITDA are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding these Non-GAAP measures.
2Contracted Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
Additional Financial Highlights:
•Book-to-bill3 ratio for the third quarter of 2023 was 0.74 as compared to 0.91 as of the third quarter of 2022. On a last twelve month (LTM) basis, book-to-bill was 1.38 as of the third quarter of 2023, as compared to 1.25 as of the third quarter of 2022.
•Net cash provided by (used in) operating activities for the third quarter of 2023 improved by $8.0 million to $(3.3) million, as compared to $(11.2) million for the third quarter of 2022. Free Cash Flow4 for the third quarter of 2023 was $(5.9) million, as compared to $(12.6) million for the third quarter of 2022.
•Total available liquidity was $30.9 million as of September 30, 2023, comprised of $10.9 million in cash and cash equivalents and $20.0 million in available borrowings from our existing credit facilities.
“Our strong financial and operational momentum continued through the third quarter of 2023; during the quarter, we once again recognized record revenues of $62.6 million and achieved record positive Adjusted EBITDA of $4.9 million. Our profitability improved due to sequential and year-over-year increase in Gross Margin with a change in contract mix and improved on-time delivery. Our continued management of G&A and other operating expenses also drove improved financial and operating performance.” said Jonathan Baliff, Chief Financial Officer of Redwire. “Operating and free cash flow improved year-over-year. Given our investments in the business year-to-date and our LTM book-to-bill ratio of 1.38, Redwire is poised for a strong finish to 2023.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Tuesday, November 7, 2023 to review financial results for the third quarter ended September 30, 2023. This release and the most recent investor slide presentation are available i
Aug 7, 2023
2 exhibit991redwire06302023e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Second Quarter 2023 Financial Results
JACKSONVILLE, Fla. / August 7, 2023 Redwire Corporation (NYSE: RDW), a global leader in space infrastructure that provides the foundational building blocks that are enabling the most complex space missions, today announced results for its second quarter ended June 30, 2023. Unless otherwise referred to as Comparable Revenues, financial information presented herein includes the results of Space NV for periods including and subsequent to the acquisition date of October 31, 2022.
Redwire will live stream a presentation with slides. Please use the link below to follow along with the live stream:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=sT4Capee
Second Quarter 2023 Highlights
•Revenues for the second quarter of 2023 increased 63.6% to $60.1 million, as compared to $36.7 million for the second quarter of 2022. Revenues also grew sequentially by 4.3%, as compared to the first quarter of 2023.
•Comparable Revenues1 for the second quarter of 2023 increased 24.9% to $45.9 million, as compared to $36.7 million for the second quarter of 2022. Comparable Revenues also grew sequentially by 1.1%, as compared to the first quarter of 2023.
•Net Loss for the second quarter of 2023 improved 92.9% to $(5.5) million, as compared to $(77.0) million for the second quarter of 2022. Net Loss also improved sequentially by $1.8 million or 24.7%, as compared to the first quarter of 2023.
•Adjusted EBITDA1 for the second quarter of 2023 increased by $8.4 million to $4.4 million as compared to $(4.1) million for the second quarter of 2022. Adjusted EBITDA increased sequentially by a nominal amount as compared to the first quarter of 2023.
•Contracted Backlog2 increased 68.3% year-over-year to $272.8 million as of June 30, 2023, as compared to $162.1 million as of June 30, 2022.
•For the full year ended December 31, 2023, Redwire affirms that it expects revenues to be in a range of $220.0 million to $250.0 million.
“In Q2, we continued a trend of strong revenue growth and positive Adjusted EBITDA1,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “This is a result of resilient demand for our differentiated space solutions across a diversified customer set and the operational excellence of our extraordinary Redwire professionals worldwide.”
1Comparable Revenues and Adjusted EBITDA are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding these Non-GAAP measures.
2Contracted Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
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Additional Financial Highlights:
•Book-to-Bill3 ratio for the second quarter of 2023 was 0.76 as compared to 1.68 as of the second quarter of 2022. On a last twelve month (LTM) basis, Book-to-Bill was 1.49 as of the second quarter of 2023, as compared to 1.15 as of the second quarter of 2022.
•Net cash provided by (used in) operating activities for the second quarter of 2023 increased by $7.0 million to $2.8 million, as compared to $(4.1) million for the second quarter of 2022. Free Cash Flow4 for the second quarter of 2023 was $1.1 million, as compared to $(5.2) million for the second quarter of 2022.
•Total available liquidity was $36.2 million as of June 30, 2023, comprised of $11.2 million in cash and cash equivalents and $25.0 million in available borrowings from our existing credit facilities.
“Our outstanding commercial and operational improvement continued in the second quarter of 2023, leading to record financial performance on both a sequential and year-over-year basis. During the quarter, we recognized record revenues of $60.1 million and achieved record positive Adjusted EBITDA4 of $4.4 million. Importantly, our team’s execution of second quarter 2023 profitable growth led to marked year-over-year improvement in cash provided by operations of $7.0 million and positive Free Cash Flow of $1.1 million,” said Jonathan Baliff, Chief Financial Officer of Redwire. “Our positive Free Cash Flow and LTM Book-to-Bill3 ratio of 1.49 are demonstrating strong momentum as we enter the second half of the year.”
Webcast and Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Tuesday, August 8, 2023 to review financial results for the second quarter ended June 30, 2023. This release and the most recent investor slide presentation are available in the investor relations area of our website at redwirespace.com.
Redwire will live stream a presentation with slides during the call. Please us
May 11, 2023
2 exhibit991redwire3312023ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports First Quarter 2023 Financial Results
JACKSONVILLE, Fla. / May 9, 2023 Redwire Corporation (NYSE: RDW), a global leader in space infrastructure that provides the foundational building blocks that are enabling the most complex space missions, today announced results for its first quarter ended March 31, 2023. Unless otherwise referred to as Comparable Revenues, financial information presented herein includes the results of Space NV for periods including and subsequent to the acquisition date of October 31, 2022.
Redwire will live stream a presentation with slides. Please use the link below to follow along with the live stream:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=mxus7cl7
Q1 2023 Highlights
•Revenues for the first quarter of 2023 increased 75.3% to $57.6 million, as compared to $32.9 million for the first quarter of 2022. Revenues also grew sequentially by 7.3%, as compared to the fourth quarter of 2022.
•Comparable Revenues1 for the first quarter of 2023 increased 37.9% to $45.3 million, as compared to $32.9 million for the first quarter of 2022.
•Net Loss for the first quarter of 2023 improved 58.0% to $(7.3) million, as compared to $(17.3) million for the first quarter of 2022. Net Loss also improved sequentially by 72.0%, as compared to the fourth quarter of 2022.
•Adjusted EBITDA1 for the first quarter of 2023 increased 193.0% to $4.3 million as compared to $(4.7) million for the first quarter of 2022. Adjusted EBITDA also grew sequentially by $5.1 million as compared to the fourth quarter of 2022.
•Contracted Backlog2 increased 108.8% year-over-year to $286.8 million as of March 31, 2023, as compared to $137.3 million as of March 31, 2022.
•For the full year ended December 31, 2023, Redwire affirms that it expects revenues to be in a range of $220.0 million to $250.0 million.
“We have started 2023 off with both record revenue and positive Adjusted EBITDA,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “Our strategy of providing proven space heritage products in the present combined with technical innovation for the future is on track for achieving profitability and delivering significant momentum as we continue to execute our 2023 plan.”
1Comparable Revenues and Adjusted EBITDA are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding the calculation of these Non-GAAP measures.
2Contracted Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
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Additional Financial Highlights:
•Book-to-Bill3 ratio for the first quarter of 2023 was 0.51 as compared to 0.93 as of the first quarter of 2022. On a last twelve month (LTM) basis, Book-to-Bill was 1.76 as of the first quarter of 2023, as compared to 0.85 as of the first quarter of 2022.
•Net cash used in operating activities for the first quarter of 2023 increased 22.7% to $(14.0) million, as compared to $(11.4) million for the first quarter of 2022. Free Cash Flow4 for the first quarter of 2023 was $(14.8) million, as compared to $(12.5) million for the first quarter of 2022. First quarter Free Cash Flow was impacted by a working capital increase supporting growth and the timing of milestone collections.
•Total available liquidity was $36.3 million as of March 31, 2023.
“Our first quarter 2023 financial performance showed outstanding operational and cost progress on both a sequential and year-over-year basis. During the quarter, we recognized record revenues and achieved positive Adjusted EBITDA4 of $4.3 million, a year-over-year improvement in Adjusted EBITDA of $9.0 million,” said Jonathan Baliff, Chief Financial Officer of Redwire. “Historically our first quarter is the most challenging, so our record revenue and Adjusted EBITDA combined with an LTM Book-to-Bill3 ratio of 1.76, produced an excellent start to 2023.”
Financial Results Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Wednesday, May 10, 2023 to review financial results for the first quarter ended March 31, 2023. This release and the most recent investor slide presentation are available in the investor relations area of our website at redwirespace.com.
Redwire will live stream a presentation with slides during the call. Please use the following link to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=mxus7cl7. The dial-in number for the live call is 888-645-4404 (toll free) or 862-298-0702 (toll), and the conference ID is 13738645.
A telepho
May 9, 2023
2 exhibit991redwire3312023ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports First Quarter 2023 Financial Results
JACKSONVILLE, Fla. / May 9, 2023 Redwire Corporation (NYSE: RDW), a global leader in space infrastructure that provides the foundational building blocks that are enabling the most complex space missions, today announced results for its first quarter ended March 31, 2023. Unless otherwise referred to as Comparable Revenues, financial information presented herein includes the results of Space NV for periods including and subsequent to the acquisition date of October 31, 2022.
Redwire will live stream a presentation with slides. Please use the link below to follow along with the live stream:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=mxus7cl7
Q1 2023 Highlights
•Revenues for the first quarter of 2023 increased 75.3% to $57.6 million, as compared to $32.9 million for the first quarter of 2022. Revenues also grew sequentially by 7.3%, as compared to the fourth quarter of 2022.
•Comparable Revenues1 for the first quarter of 2023 increased 37.9% to $45.3 million, as compared to $32.9 million for the first quarter of 2022.
•Net Loss for the first quarter of 2023 improved 58.0% to $(7.3) million, as compared to $(17.3) million for the first quarter of 2022. Net Loss also improved sequentially by 72.0%, as compared to the fourth quarter of 2022.
•Adjusted EBITDA1 for the first quarter of 2023 increased 193.0% to $4.3 million as compared to $(4.7) million for the first quarter of 2022. Adjusted EBITDA also grew sequentially by $5.1 million as compared to the fourth quarter of 2022.
•Contracted Backlog2 increased 108.8% year-over-year to $286.8 million as of March 31, 2023, as compared to $137.3 million as of March 31, 2022.
•For the full year ended December 31, 2023, Redwire affirms that it expects revenues to be in a range of $220.0 million to $250.0 million.
“We have started 2023 off with both record revenue and positive Adjusted EBITDA,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “Our strategy of providing proven space heritage products in the present combined with technical innovation for the future is on track for achieving profitability and delivering significant momentum as we continue to execute our 2023 plan.”
1Comparable Revenues and Adjusted EBITDA are not measures of results under generally accepted accounting principles in the United States. Please refer to “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding the calculation of these Non-GAAP measures.
2 Contracted Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
Additional Financial Highlights:
•Book-to-Bill3 ratio for the first quarter of 2023 was 0.51 as compared to 0.93 as of the first quarter of 2022. On a last twelve month (LTM) basis, Book-to-Bill was 1.60 as of the first quarter of 2023, as compared to 0.85 as of the first quarter of 2022.
•Net cash used in operating activities for the first quarter of 2023 increased 22.7% to $(14.0) million, as compared to $(11.4) million for the first quarter of 2022. Free Cash Flow4 for the first quarter of 2023 was $(14.8) million, as compared to $(12.5) million for the first quarter of 2022. First quarter Free Cash Flow was impacted by a working capital increase supporting growth and the timing of milestone collections.
•Total available liquidity was $36.3 million as of March 31, 2023.
“Our first quarter 2023 financial performance showed outstanding operational and cost progress on both a sequential and year-over-year basis. During the quarter, we recognized record revenues and achieved positive Adjusted EBITDA4 of $4.3 million, a year-over-year improvement in Adjusted EBITDA of $9.0 million,” said Jonathan Baliff, Chief Financial Officer of Redwire. “Historically our first quarter is the most challenging, so our record revenue and Adjusted EBITDA combined with an LTM Book-to-Bill3 ratio of 1.60, produced an excellent start to 2023.”
Financial Results Investor Call
Management will conduct a conference call starting at 9:00 a.m. ET on Wednesday, May 10, 2023 to review financial results for the first quarter ended March 31, 2023. This release and the most recent investor slide presentation are available in the investor relations area of our website at redwirespace.com.
Redwire will live stream a presentation with slides during the call. Please use the following link to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=mxus7cl7. The dial-in number for the live call is 888-645-4404 (toll free) or 862-298-0702 (toll), and the conference ID is 13738645.
A teleph
Mar 29, 2023
2 exhibit991redwire12312022e.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Fourth Quarter and Full Year 2022 Financial Results
JACKSONVILLE, Fla. / March 29, 2023 Redwire Corporation (NYSE: RDW), a global leader in space infrastructure, that provides the foundational building blocks that are enabling the most complex space missions, today announced results for its fourth quarter and full year ended December 31, 2022.
Redwire will live stream a presentation with slides. Please use the link below to follow along with the live stream:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=BQi6o38R
Q4 and Full Year 2022 Highlights
•On October 31, 2022, Redwire completed the acquisition of QinetiQ Space NV (“Space NV”). Space NV has significantly expanded our global footprint and scope of business, especially with the European Space Agency.
•Revenues for the fourth quarter of 2022 (including Space NV) increased 30.7% to $53.7 million, as compared to $41.1 million for the fourth quarter of 2021. Revenues also grew sequentially by 44.2%, as compared to the third quarter of 2022.
•Revenues for the full year 2022 (including Space NV) increased 16.7% to $160.5 million, as compared to $137.6 million for the full year 2021.
•Net loss and Pro Forma Adjusted EBITDA1 for the full year 2022 (including the incremental Adjusted EBITDA that Space NV would have contributed if the acquisition had occurred on January 1, 2022) were $(130.6) million and $(7.0) million, respectively, as compared to net loss and Pro Forma Adjusted EBITDA1 of $(61.5) million and $3.2 million, respectively, for the full year 2021. Net loss for the full year 2022 includes a $96.6 million non-cash impairment expense, while no such expense occurred in 2021.
•Since acquisition, Space NV contributed $11.7 million and $0.6 million to full year 2022 revenues and Adjusted EBITDA1.
•Excluding Space NV from revenues and Pro Forma Adjusted EBITDA1 (as if the acquisition had not occurred), Redwire would have achieved full year 2022 revenues and Pro Forma Adjusted EBITDA1 of $148.9 million and $(11.6) million, respectively, which are results within its revised full year 2022 guidance range for revenues of $140.0 million to $155.0 million and Pro Forma Adjusted EBITDA1 of $(13.0) million to $(6.0) million (which guidance did not account for Space NV).
•Total Backlog2 (including Space NV) grew 71.2% year-over-year to $465.1 million as of December 31, 2022, as compared to $271.6 million as of December 31, 2021. In 2022, contracts awarded were $327.0 million.
•For the full year ended December 31, 2023, Redwire expects revenue to be in a range of $220.0 million to $250.0 million.
1 Pro Forma Adjusted EBITDA and Adjusted EBITDA are not measures of results under generally accepted accounting principles in the United States. See “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding the calculation of Pro Forma Adjusted EBITDA and Adjusted EBITDA.
2 Total Backlog is a key business measure. Please refer to “Key Performance Indicators” and the tables included in this press release for additional information.
Page 1
“In the fourth quarter of 2022, Redwire experienced record revenue and a record quarter for new bookings,” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “We are continuing to build a resilient space platform that includes a diversified portfolio of dependable, long-term government contracts and marquee commercial customers. Our proven space heritage and 2022 technical performance is leading to exciting opportunities with new and existing customers, positioning us with strong momentum entering 2023 supported by a record Total Backlog4 of $465.1 million.
Additional Financial Highlights:
•Net loss and Pro Forma Adjusted EBITDA3 (including the incremental Adjusted EBITDA that Space NV would have contributed if the acquisition had occurred on January 1, 2022) for the fourth quarter of 2022 were $(25.9) million and $(0.5) million, respectively, as compared to net loss and Pro Forma Adjusted EBITDA3 of $(13.7) million and $(0.2) million, respectively, for the fourth quarter of 2021.
•Book-to-Bill4 ratio for the fourth quarter and full year 2022 was 3.74 and 2.04, respectively, as compared to 1.45 and 1.13 for the fourth quarter and full year 2021, respectively.
•Net cash used in operating activities for the fourth quarter of 2022 improved 57.1% to $(4.8) million, as compared to $(11.2) million for the third quarter of 2022. Free Cash Flow5 for the fourth quarter of 2022 was $(5.5) million, as compared to $(12.6) million for the third quarter of 2022.
•As previously announced, Redwire completed an $81.25 million capital raise to finance the acquisition of Space NV and support our growth initiatives. T
Nov 8, 2022
2 exhibit991redwire9302022ea.htm
Document
Exhibit 99.1
8226 Philips Highway, Suite 101 Investor Relations Contact:
Jacksonville, FL 32256 USA investorrelations@redwirespace.com
Redwire Corporation Reports Third Quarter 2022 Financial Results
JACKSONVILLE, Fla. / November 8, 2022 Redwire Corporation (NYSE: RDW), a new leader in mission critical space solutions and high reliability components for the next generation space economy, today announced results for its third quarter ended September 30, 2022.
Redwire will live stream a presentation with slides. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=WsetITqF
Q3 2022 Highlights
•Revenue increased $4.6 million, or 14.0%, to $37.2 million for the three months ended September 30, 2022, from $32.7 million for the three months ended September 30, 2021.
•Redwire also delivered better financial performance for the three months ended September 30, 2022, as compared to the three months ended June 30, 2022. Revenues grew by 1.4%, gross margin as a percentage of revenues improved by 2.3%, net loss decreased by 86.5% and Adjusted EBITDA1 improved by 63.7% period over period.
•Redwire enabled successful execution of NASA’s Double Asteroid Redirection Test (“DART”) mission with critical navigation components and Roll-Out Solar Array (“ROSA”) technology.
•Redwire was recently selected for multiple "land and expand" opportunities that are expected to increase growth momentum for power systems and structures, LEO commercialization, avionics and digital engineering. These new opportunities resulted in a sequential increase in our Total Backlog2 to $304.0 million as of September 30, 2022, as compared to $251.7 million as of June 30, 2022.
•During the fourth quarter of 2022, we completed a capital raise for approximately $80.0 million through the sale of Series A Convertible Preferred Stock, which was led by investments from Bain Capital and AE Industrial Partners (“AEI”). Proceeds from the sale of the Series A Convertible Preferred Stock were used to fund the €32.0 million acquisition of QinetiQ Space NV (“Space NV”), which closed on October 31, 2022, and the Company intends to use the remaining proceeds to support Redwire’s growth initiatives.
•Redwire expects to achieve improved results during the fourth quarter of 2022 compared to the third quarter, driven by increased revenue and changes in contract mix with higher gross margin. However, a slower contract ramp up has pushed revenue execution into subsequent quarters. Therefore, for the fiscal year ended December 31, 2022, Redwire is updating its previously provided guidance and now expects revenues to be in a range of approximately
1 Pro Forma Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. We are unable to provide guidance for net income (loss) or reconciliations to forward-looking net income (loss) because we are unable to provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort. This is due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Thus, we are unable to present a quantitative reconciliation of the aforementioned forward-looking non-GAAP financial measures to the most closely comparable forward-looking U.S. GAAP financial measure because such information is not available. See “Non-GAAP Financial Information” and the reconciliation tables included in this press release for details regarding the calculation of Adjusted EBITDA.
2 Total Backlog is a key business measure. Redwire’s Total Backlog does not include contracted backlog for Space NV. See “Key Performance Indicators” and the tables included in this press release for additional information.
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Exhibit 99.1
$140.0 million to $155.0 million and Pro Forma Adjusted EBITDA1 to be approximately $(13.0) million to $(6.0) million. This guidance does not include contributions anticipated from Space NV.
“We increased the scope and scale of our space platform with ground-breaking flight successes, third quarter revenue growth, improved gross margins, and better operating leverage.” stated Peter Cannito, Chairman and Chief Executive Officer of Redwire. “Combined with the recent investments by Bain Capital and AEI, the successful acquisition of Space NV and continued streamlining of our business, we believe Redwire is well-positioned for profitable growth in the long term.”
Additional Q3 2022 Financial Highlights:
•Net loss and Pro Forma Adjusted EBITDA3 were $(10.4) million and $(1.5) million, respectively, for the three months ended September 30, 2022, compared to net loss and Pro Forma Adjusted EBITDA3 of $(24.3) million and $(0.3) million, respectively, for the three months ended September 30, 2021.
•Redwire’s Book-to-Bill4 ratio was 0.91 and 1.18 for t
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