Redwire Corp · Q2 2022 earnings

Briefing

Reported second quarter 2022 financial results.

Redwire Corporation reported a revenue increase of 14.2% to $36.7 million for the second quarter ended June 30, 2022. The company's net loss was $(77.0) million, which included an $80.5 million non-cash goodwill, intangible and long-lived asset impairment charge.

• Revenue increased $4.6 million, or 14.2%, to $36.7 million for the three months ended June 30, 2022, from $32.1 million for the three months ended June 30, 2021.
• Successful delivery of proven and differentiated products and services for multiple National Security Space (“NSS”) and commercial customers, including for multi-year, multi-shipset missions.
• Operational successes have led to additional work and cross-selling of higher gross margin products and services with improved on-time deliveries, including for large solar array programs and navigation component projects.
• Our significantly higher 1.68 book-to-bill ratio, combined with increased gross margins, provides for an improved financial outlook for the second half of 2022 and 2023.

Headline financials

Revenue & EPS history

Redwire expects revenues to be in a range of approximately $165 million to $175 million and Pro Forma Adjusted EBITDA to be in a range between $(2.0) million and $3.0 million.