REDWIRE $RDW Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $109.0M (Est. $126M) 🔴; +5.4% YoY
🔹 EPS: -$0.09 (Est. -$0.12) 🟢
🔹 Adjusted EBITDA: -$5.3M (Est. -$4.7M) 🔴
🔹 Free Cash Flow: -$66.4M (Est. -$21.7M) 🔴
Affirms FY26 Guide:
🔹 Revenue: $450M-$500M (Est. $473M) 🟡
Segment Net Revenue:
🔹 Space: $61.3M; +32% YoY
🔹 Defense Tech: $47.8M; -16% YoY
Announcements:
🔹 DARPA Contract: $20M for SabreSat VLEO testing
🔹 ISS Launch: four microgravity investigations; fourth and final pair of Roll-Out Solar Arrays
Other Q3 Metrics:
🔹 Adjusted Gross Margin: 32.3%; +520 bps YoY
🔹 Book-to-Bill: 1.73; +38% YoY
Key Updates:
🔹 Backlog: $619.7M; nearly 75% YoY
🔹 Contracts Awarded: $188.7M in Q3
Comments:
🔸 “Although revenue timing continues to be uneven, with another quarter of record gross margins expanding from 16.3% to 32.3% year-over-year, the quality of our revenue is improving as we deliver mission-critical products and solutions across multiple domains.”
🔸 “With $323.1 million of recorded revenue during the first nine months of 2026 supported by a record $619.7 million in Backlog 4 and $46.8 million of work in process and finished goods inventory, we again reaffirm our 2026 revenue forecast.”