Quarterly ResultMay 6, 2026, 04:39 PM
Redwire Q1 Revenue +57.9% to $97M; Record Backlog $498.1M
AI Summary
Redwire Corporation reported its first quarter 2026 financial results, announcing a record contract backlog of $498.1 million and a 57.9% year-over-year increase in revenues to $97.0 million. The company also achieved significant gross margin improvement to 26.6%. Despite these operational successes, Redwire reported a net loss of $(76.5) million, primarily due to over $44.0 million in non-recurring equity-based compensation related to an acquisition. The company reaffirmed its full-year 2026 revenue forecast of $450 million to $500 million.
Key Highlights
- Redwire achieved record contract backlog of $498.1 million as of March 31, 2026.
- Revenues increased 57.9% year-over-year to $97.0 million for Q1 2026.
- Gross margins improved sequentially and year-over-year to 26.6% for Q1 2026.
- Net Loss increased to $(76.5) million, including over $44.0 million in non-recurring activity.
- Adjusted EBITDA decreased by $6.9 million year-over-year to $(9.2) million.
- Book-to-Bill ratio significantly increased to 1.92 for Q1 2026.
- Total liquidity stood at $175.2 million, a 21.0% increase over year-end 2025.
- Company reaffirmed 2026 revenue forecast of $450 million to $500 million.