Redwire Corporation Financials
This page shows Redwire Corporation (RDW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Redwire Corporation has an operating margin of -13.9%, meaning the company retains $-14 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -6.4% the prior year.
Redwire Corporation's revenue surged 24.7% year-over-year to $304.1M, reflecting rapid business expansion. This strong growth earns a score of 99/100.
Redwire Corporation's current ratio of 0.84 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
While Redwire Corporation generated -$17.3M in operating cash flow, capex of $6.4M consumed most of it, leaving -$23.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Redwire Corporation passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Redwire Corporation generates $0.15 in operating cash flow (-$17.3M OCF vs -$114.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Redwire Corporation earns $-3.1 in operating income for every $1 of interest expense (-$42.2M vs $13.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Redwire Corporation generated $304.1M in revenue in fiscal year 2024. This represents an increase of 24.7% from the prior year.
Redwire Corporation's EBITDA was -$30.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 532.4% from the prior year.
Redwire Corporation generated -$23.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 441.1% from the prior year.
Redwire Corporation reported -$114.3M in net income in fiscal year 2024. This represents a decrease of 319.3% from the prior year.
Redwire Corporation earned $-2.35 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 221.9% from the prior year.
Redwire Corporation held $33.7M in cash against $124.5M in long-term debt as of fiscal year 2024.
Redwire Corporation had 67M shares outstanding in fiscal year 2024. This represents an increase of 2.2% from the prior year.
Redwire Corporation's gross margin was 14.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 9.2 percentage points from the prior year.
Redwire Corporation's operating margin was -13.9% in fiscal year 2024, reflecting core business profitability. This is down 7.5 percentage points from the prior year.
Redwire Corporation's net profit margin was -37.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 26.4 percentage points from the prior year.
Redwire Corporation invested $6.1M in research and development in fiscal year 2024. This represents an increase of 23.1% from the prior year.
Redwire Corporation invested $6.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 13.9% from the prior year.
RDW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.4M+67.5% | $61.8M+0.6% | $61.4M-11.7% | $69.6M-10.9% | $78.1M-11.0% | $87.8M+38.3% | $63.5M+1.4% | $62.6M |
| Cost of Revenue | $86.6M+7.2% | $80.8M+54.4% | $52.4M-19.4% | $64.9M-0.3% | $65.1M-10.7% | $73.0M+38.3% | $52.8M+16.0% | $45.5M |
| Gross Profit | $16.8M+188.2% | -$19.1M-310.9% | $9.0M+95.6% | $4.6M-64.4% | $13.0M-12.4% | $14.8M+38.2% | $10.7M-37.3% | $17.1M |
| R&D Expenses | $7.7M+347.3% | $1.7M+111.6% | $813K-43.8% | $1.4M-17.2% | $1.7M+68.1% | $1.0M+5.2% | $989K-35.4% | $1.5M |
| SG&A Expenses | $50.3M-7.7% | $54.5M+190.5% | $18.7M+1.7% | $18.4M+1.9% | $18.1M+4.2% | $17.4M+5.2% | $16.5M-9.9% | $18.3M |
| Operating Income | -$41.9M+54.5% | -$91.9M-541.8% | -$14.3M+24.6% | -$19.0M-166.2% | -$7.1M-99.3% | -$3.6M+47.1% | -$6.8M-148.7% | -$2.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $6.9M+121.0% | -$32.6M-17814.3% | -$182K+89.1% | -$1.7M-11246.7% | $15K-86.2% | $109K+193.2% | -$117K+53.8% | -$253K |
| Net Income | -$41.2M+57.6% | -$97.0M-3189.7% | -$2.9M+95.6% | -$67.2M-271.3% | -$18.1M-123.5% | -$8.1M+2.3% | -$8.3M-32.5% | -$6.3M |
| EPS (Diluted) | $-0.29+79.4% | $-1.41-1466.7% | $-0.09+93.5% | $-1.39-231.0% | $-0.42-147.1% | $-0.17+32.0% | $-0.25-78.6% | $-0.14 |
RDW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B-4.1% | $1.5B+380.2% | $314.1M+7.3% | $292.6M+12.4% | $260.3M+0.3% | $259.5M-4.3% | $271.3M+11.1% | $244.2M |
| Current Assets | $210.6M-13.9% | $244.5M+72.0% | $142.1M+12.9% | $125.9M+19.6% | $105.3M+5.4% | $99.9M-8.6% | $109.3M+29.5% | $84.4M |
| Cash & Equivalents | $52.3M-31.7% | $76.5M+41.1% | $54.2M+60.9% | $33.7M+9.3% | $30.8M-5.3% | $32.6M+7.6% | $30.3M+178.8% | $10.9M |
| Inventory | $53.5M-9.1% | $58.8M+2584.1% | $2.2M-2.1% | $2.2M+22.7% | $1.8M+13.2% | $1.6M+6.3% | $1.5M-10.1% | $1.7M |
| Accounts Receivable | $32.0M-13.1% | $36.8M+141.4% | $15.2M-30.4% | $21.9M-0.8% | $22.1M+16.3% | $19.0M-41.4% | $32.4M+31.5% | $24.6M |
| Goodwill | $800.0M+1.4% | $789.3M+996.2% | $72.0M+1.2% | $71.2M+9.1% | $65.2M-0.1% | $65.3M-0.7% | $65.8M+2.1% | $64.4M |
| Total Liabilities | $413.3M-7.9% | $448.7M+17.4% | $382.2M-20.6% | $481.3M+42.2% | $338.5M+9.4% | $309.3M-1.7% | $314.8M+15.3% | $273.1M |
| Current Liabilities | $149.6M-10.7% | $167.4M+41.2% | $118.5M-20.6% | $149.3M+39.2% | $107.3M+3.8% | $103.4M-7.7% | $112.0M+28.4% | $87.2M |
| Long-Term Debt | $184.7M-0.4% | $185.5M+77.7% | $104.4M-16.1% | $124.5M+31.5% | $94.6M+5.5% | $89.7M+3.3% | $86.8M+8.6% | $79.9M |
| Total Equity | $928.0M+2.3% | $907.6M+1433.4% | -$68.1M+63.9% | -$188.7M-141.1% | -$78.3M-57.2% | -$49.8M-14.4% | -$43.5M-50.8% | -$28.9M |
| Retained Earnings | -$536.3M-8.7% | -$493.4M-40.5% | -$351.1M-0.8% | -$348.1M-33.9% | -$260.0M-7.5% | -$241.9M-3.5% | -$233.8M-3.7% | -$225.5M |
RDW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$20.3M+76.8% | -$87.7M-94.5% | -$45.1M-738.2% | $7.1M+174.3% | -$9.5M-443.9% | $2.8M-82.4% | $15.7M+581.9% | -$3.3M |
| Capital Expenditures | $6.5M+120.7% | $3.0M+65.5% | $1.8M-23.3% | $2.3M+155.5% | $914K-41.4% | $1.6M-25.5% | $2.1M+61.1% | $1.3M |
| Free Cash Flow | -$26.9M+70.4% | -$90.6M-93.3% | -$46.9M-1091.1% | $4.7M+145.4% | -$10.4M-966.2% | $1.2M-91.2% | $13.6M+398.3% | -$4.6M |
| Investing Cash Flow | -$7.5M+95.3% | -$157.7M-3788.4% | -$4.1M+2.3% | -$4.1M-242.5% | $2.9M+223.0% | -$2.4M+24.0% | -$3.1M-16.8% | -$2.7M |
| Financing Cash Flow | $3.4M-98.7% | $269.3M+397.0% | $54.2M+1477.1% | $3.4M-29.8% | $4.9M+141.0% | $2.0M-70.0% | $6.8M+18.1% | $5.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RDW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.3%+47.1pp | -30.9%-45.6pp | 14.7%+8.1pp | 6.7%-10.0pp | 16.6%-0.3pp | 16.9%-0.0pp | 16.9%-10.4pp | 27.3% |
| Operating Margin | -40.5%+108.3pp | -148.8%-125.5pp | -23.3%+4.0pp | -27.3%-18.2pp | -9.1%-5.1pp | -4.1%+6.6pp | -10.6%-6.3pp | -4.3% |
| Net Margin | -39.8%+117.2pp | -157.0%-152.2pp | -4.8%+91.8pp | -96.6%-73.4pp | -23.2%-13.9pp | -9.2%+3.8pp | -13.1%-3.1pp | -10.0% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -2.9%+3.6pp | -6.4%-5.5pp | -0.9%+22.0pp | -22.9%-16.0pp | -7.0%-3.8pp | -3.1%-0.1pp | -3.1%-0.5pp | -2.6% |
| Current Ratio | 1.41-0.1 | 1.46+0.3 | 1.20+0.4 | 0.84-0.1 | 0.98+0.0 | 0.970.0 | 0.980.0 | 0.97 |
| Debt-to-Equity | 0.200.0 | 0.20+1.7 | -1.53-0.9 | -0.66+0.5 | -1.21+0.6 | -1.80+0.2 | -2.00+0.8 | -2.77 |
| FCF Margin | -26.0%+120.8pp | -146.7%-70.4pp | -76.3%-83.1pp | 6.8%+20.1pp | -13.3%-14.7pp | 1.4%-20.0pp | 21.4%+28.7pp | -7.3% |
Note: Shareholder equity is negative (-$188.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Redwire Corporation's annual revenue?
Redwire Corporation (RDW) reported $304.1M in total revenue for fiscal year 2024. This represents a 24.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Redwire Corporation's revenue growing?
Redwire Corporation (RDW) revenue grew by 24.7% year-over-year, from $243.8M to $304.1M in fiscal year 2024.
Is Redwire Corporation profitable?
No, Redwire Corporation (RDW) reported a net income of -$114.3M in fiscal year 2024, with a net profit margin of -37.6%.
What is Redwire Corporation's earnings per share (EPS)?
Redwire Corporation (RDW) reported diluted earnings per share of $-2.35 for fiscal year 2024. This represents a -221.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Redwire Corporation's EBITDA?
Redwire Corporation (RDW) had EBITDA of -$30.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Redwire Corporation have?
As of fiscal year 2024, Redwire Corporation (RDW) had $33.7M in cash and equivalents against $124.5M in long-term debt.
What is Redwire Corporation's gross margin?
Redwire Corporation (RDW) had a gross margin of 14.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Redwire Corporation's operating margin?
Redwire Corporation (RDW) had an operating margin of -13.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Redwire Corporation's net profit margin?
Redwire Corporation (RDW) had a net profit margin of -37.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Redwire Corporation's free cash flow?
Redwire Corporation (RDW) generated -$23.7M in free cash flow during fiscal year 2024. This represents a -441.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Redwire Corporation's operating cash flow?
Redwire Corporation (RDW) generated -$17.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Redwire Corporation's total assets?
Redwire Corporation (RDW) had $292.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Redwire Corporation's capital expenditures?
Redwire Corporation (RDW) invested $6.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Redwire Corporation spend on research and development?
Redwire Corporation (RDW) invested $6.1M in research and development during fiscal year 2024.
How many shares does Redwire Corporation have outstanding?
Redwire Corporation (RDW) had 67M shares outstanding as of fiscal year 2024.
What is Redwire Corporation's current ratio?
Redwire Corporation (RDW) had a current ratio of 0.84 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Redwire Corporation's debt-to-equity ratio?
Redwire Corporation (RDW) had a debt-to-equity ratio of -0.66 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Redwire Corporation's return on assets (ROA)?
Redwire Corporation (RDW) had a return on assets of -39.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Redwire Corporation's cash runway?
Based on fiscal year 2024 data, Redwire Corporation (RDW) had $33.7M in cash against an annual operating cash burn of $17.3M. This gives an estimated cash runway of approximately 23 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Redwire Corporation's debt-to-equity ratio negative or unusual?
Redwire Corporation (RDW) has negative shareholder equity of -$188.7M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Redwire Corporation's Piotroski F-Score?
Redwire Corporation (RDW) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Redwire Corporation's earnings high quality?
Redwire Corporation (RDW) has an earnings quality ratio of 0.15x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Redwire Corporation cover its interest payments?
Redwire Corporation (RDW) has an interest coverage ratio of -3.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Redwire Corporation?
Redwire Corporation (RDW) scores 28 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.