Overview

• US space and defense tech firm's Q1 revenue rose 58% yr/yr but missed analyst expectations

• Gross margin improved to 26.6% from 14.7% yr/yr

• Net loss widened due to non-recurring equity-based compensation from Edge Autonomy acquisition

Outlook

• Redwire affirms 2026 revenue forecast of $450 mln to $500 mln

• Company says strong demand and record backlog support 2026 outlook

Result Drivers

• CONTRACT WINS - Co cited strong demand and major contract awards, including the $1.8 bln Andromeda IDIQ and first ELSA order, as drivers of record backlog and revenue growth

• GROSS MARGIN IMPROVEMENT - Co said operational performance and portfolio management led to higher gross margins yr/yr and sequentially

Company press release: ID:nBw3GdGKRa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Miss	$96.97 mln	$104.65 mln (9 Analysts)
Q1 Net Income		-$76.50 mln
Q1 Operating Income		-$69.70 mln
Q1 Pretax Profit		-$75.86 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the aerospace & defense peer group is "buy"

• Wall Street's median 12-month price target for Redwire Corp is $15.00, about 72.6% above its May 5 closing price of $8.69

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.