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JACKSONVILLE, Fla. - Redwire Corporation (NYSE:RDW) reported first quarter revenue that beat analyst expectations on Monday.
The space infrastructure company’s shares jumped 7.96% in pre-market trading after the earnings release.
Redwire posted revenue of $61.4 million for the first quarter of 2025, surpassing the analyst consensus estimate. However, this represented a 30.1% decrease from $87.8 million in the same quarter last year.
The company reported a net loss of $2.9 million for Q1, an improvement from the $8.1 million loss in Q1 2024. Adjusted EBITDA came in at -$2.3 million, down from $4.3 million in the prior year period.
"Bookings increased significantly compared to Q4 2024, with key wins coming from the European market," said Peter Cannito, Chairman and CEO of Redwire. "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."
The company’s book-to-bill ratio improved to 0.92 in Q1 2025, up from 0.40 in Q1 2024. Total (EPA:TTEF) backlog stood at $291.2 million as of March 31, 2025.
For full year 2025, Redwire forecasts revenue of $535 million to $605 million and adjusted EBITDA of $70 million to $105 million, assuming the completion of its pending acquisition of Edge Autonomy.
"Despite facing very dynamic macro-economic conditions, Redwire enters the second quarter ready to close on our acquisition of Edge Autonomy and to capitalize on market trends in space and defense tech," said Jonathan Baliff, CFO of Redwire.
The company ended the quarter with $54.2 million in cash and total liquidity of $89.2 million.
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