Redwire Corporation Stock Price, News & Analysis

Redwire Corporation (NYSE: RDW) announced the first sale of its space-manufactured optical crystal to researchers at The Ohio State University's CEMAS. The sale involved two grams of crystal valued at about $2 million per kilogram. This marks a significant milestone for space commercialization, as it showcases the potential of in-space manufacturing. The optical crystals could enhance high-power laser systems on Earth due to fewer defects compared to Earth-manufactured crystals. This achievement highlights Redwire's commitment to expanding production capabilities in low-Earth orbit.

Redwire Corporation (NYSE: RDW) has secured a contract to deliver 42 high gain antennas for a national security customer's low-Earth orbit satellite constellation. The antennas, which enhance beyond line-of-sight communications, are scheduled for delivery within 18 months. The production will take place at Redwire's Longmont, Colorado facility, which can produce over 120 antennas. This builds on Redwire's previous success in delivering antennas for the initial phase, underscoring their commitment to advanced antenna technology for national security applications.

Redwire Corporation (NYSE: RDW) reported Q1 2022 revenue of $32.9 million, a 3.7% increase from $31.7 million year-over-year. However, the company faced a net loss of $(17.3) million and an Adjusted EBITDA of $(4.7) million. Challenges included delays in contract awards and supply chain issues. The total backlog stood at $273.9 million, and the firm secured contracts for multiple high gain antenna systems and was awarded a position on a $950 million IDIQ contract for the U.S. Air Force. The company has over $30 million in liquidity, indicating a strong capital position.

Redwire Corporation (NYSE: RDW) will announce its first-quarter financial results for the period ending March 31, 2022, on May 12, 2022, at 5:30 p.m. ET. Investors can join the earnings conference call by calling 877-485-3108 (toll-free) or 201-689-8264 (toll). A live audio webcast will also be available on the Redwire Investor Relations website. For those unable to attend, a replay will be accessible for two weeks. Redwire specializes in space infrastructure and innovative technologies, supporting the future of space missions.

Redwire Corporation (NYSE: RDW) has appointed Al Tadros as Chief Technology Officer, bolstering its technical leadership. Previously the Chief Growth Officer, Tadros brings over 30 years of space industry experience, focusing on large technical programs. This transition also sees Michael Gold and Dean Bellamy expand their roles to lead the company's growth strategy in civil and commercial space and national security space, respectively. Redwire aims to enhance its technology ecosystem and innovate future space infrastructure.

Redwire Corporation (NYSE: RDW) announced a common stock purchase agreement worth $80 million with B. Riley Principal Capital, LLC. This agreement allows Redwire to raise capital flexibly over the next 24 months, aiming to support growth initiatives, including acquisitions and working capital investments. CEO Peter Cannito emphasized the importance of financial flexibility in executing their growth strategy. This press release serves as an informational announcement and does not constitute an offer to sell or buy Redwire's common stock.

Redwire Corporation (NYSE: RDW) announced the filing of its Annual Report on Form 10-K for the year ending December 31, 2021, with the SEC. This filing, along with the Quarterly Report on Form 10-Q filed on April 1, 2022, confirms that Redwire is now current in its SEC filings. Additionally, the NYSE notified Redwire that it complies fully with listing standards, resulting in its removal from the late filers' list.

Redwire Corporation (NYSE: RDW) announces that CEO Peter Cannito will present at the Jefferies Virtual Space Summit on April 12, 2022, at 1:00 PM Eastern. The summit is exclusive to registered participants. Redwire is a leader in space infrastructure, specializing in solar power generation and in-space 3D printing. The company combines decades of flight experience with an innovative approach to tackle future space mission challenges. For more information, visit www.redwirespace.com.

Redwire Corporation (NYSE: RDW) has successfully passed the Mission Critical Design Review (CDR) for its On-Orbit Servicing, Assembly and Manufacturing 2 (OSAM-2) mission, marking a significant milestone in developing robotic technologies for constructing large structures in space. This $73.7 million contract with NASA, signed in 2019, allows Redwire to advance into building and verifying flight hardware. OSAM-2 is set to demonstrate 3D printing and robotic assembly capabilities in orbit, crucial for future space infrastructure advancements and potential applications on the Moon and Mars.