Redwire Corporation Stock Price, News & Analysis

Redwire (NYSE: RDW), a leader in space infrastructure, has announced its participation in the Jefferies Industrials Conference on September 4, 2024. The company's Chairman and CEO, Peter Cannito, along with CFO Jonathan Baliff, will deliver a presentation from 7:30-8:00 a.m. ET.

This event provides an opportunity for investors and industry professionals to gain insights into Redwire's operations and future plans. The presentation will be accessible via a live webcast, allowing interested parties to tune in remotely. This announcement underscores Redwire's commitment to transparency and engagement with the financial community, potentially impacting investor interest and stock performance.

Redwire (NYSE: RDW) has announced a definitive agreement to acquire Hera Systems, Inc., a spacecraft developer specializing in national security space missions. This acquisition is expected to enhance Redwire's spacecraft portfolio and support specialized National Security Space missions in geostationary orbit (GEO).

Hera Systems, founded in 2013, focuses on developing high-performance spacecraft for evolving national security requirements. In 2022, Hera Systems was contracted to develop three satellites for U.S. Space Force's Tetra-5 mission. For the year ended December 31, 2023, Hera recorded $15 million in revenue.

As a result of this acquisition, Redwire is adjusting its full-year 2024 revenue guidance from $300 million to $310 million. The transaction is expected to close in the third quarter and will be financed with balance sheet liquidity.

Redwire (NYSE: RDW) reported its Q2 2024 financial results, showing 30% year-over-year revenue growth to $78.1 million. The company experienced a net loss of $18.1 million and Adjusted EBITDA of $1.6 million. Bookings for Q2 2024 were $114.4 million, a 226% sequential increase from Q1. Redwire's contracted backlog grew 29.9% year-over-year to $354 million. The company was awarded a prime contract for the SabreSat VLEO platform under DARPA's Otter program and received a follow-on order for Roll-Out Solar Array wings. Redwire affirmed its 2024 revenue forecast of $300 million, with year-to-date bids reaching approximately $1.9 billion and an LTM Book-to-Bill ratio of 1.28.

Vast, a space habitation technology company, has announced the Haven-1 Lab, the world's first commercial microgravity research, development, and manufacturing platform on a space station. Set to launch no earlier than the second half of 2025, the Haven-1 Lab will provide a hub for companies, governments, and other entities to collaborate on science, research, and in-space manufacturing.

The lab features 10 Middeck Locker Equivalent payload slots, each with a capacity of 30 kg and 100 W of continuous power. Vast has partnered with Redwire and Yuri as inaugural payload partners, leveraging their expertise in microgravity research and biotech development. The Haven-1 Lab aims to bridge the gap between the International Space Station's eventual retirement and the new era of commercial space stations.

Redwire (NYSE: RDW) is launching a groundbreaking experiment to the International Space Station (ISS) to analyze the effects of microgravity on tissue bioprinting and culturing. In collaboration with Wake Forest Institute of Regenerative Medicine, Redwire will culture 36 bioprinted vascularized liver tissue constructs in space. This initiative aims to determine if liver cells bioprinted on Earth can form functioning blood vessels in microgravity, potentially addressing the global organ shortage.

Redwire has made significant progress in space biotech, successfully bioprinting human knee meniscus and heart tissue samples in space. The company is also launching four drug manufacturing experiments in its PIL-BOX system, marking its third spaceflight mission in 10 months. These experiments will launch to the ISS aboard the Northrop Grumman NG-21 cargo resupply mission in early August 2024.

Redwire (NYSE: RDW) has signed a memorandum of understanding (MOU) with Consolidated Safety Services, Inc. (CSS) to jointly pursue task orders under NASA's $478 million Research, Engineering & Mission Integration Services-2 (REMIS-2) contract for the International Space Station (ISS). The partnership aims to provide spaceflight hardware, engineering services, payload integration, and research mission operations for the ISS Program.

Redwire, with its extensive experience in human spaceflight and ISS contributions, currently owns nine payloads and facilities on the ISS and has managed three NASA-owned research facilities. This collaboration with CSS is expected to expand Redwire's legacy in supporting ongoing space station operations, leveraging its expertise in critical hardware and technology systems development.

Redwire (NYSE: RDW) has announced its plans to release second quarter 2024 financial results on August 7, 2024, after market close. The company will host a conference call on August 8, 2024, at 9 a.m. EDT to discuss the results. Investors can access the call via phone or a live-streamed webcast with accompanying slides. For those unable to attend live, a replay will be available for two weeks following the event. The earnings release and related information will be accessible on the company's website at redwirespace.com.

Redwire (NYSE: RDW) has secured a follow-on order to develop and deliver additional Roll-Out Solar Array (ROSA) wings for Thales Alenia Space's Space Inspire satellites. This order increases the total number of shipsets Redwire will deliver under its existing agreement with Thales Alenia Space, a leading prime manufacturer of space solutions.

Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), specializes in telecommunications, Earth observation, exploration, and navigation satellites. The Space Inspire product line represents their newest geostationary telecommunications satellites, supported by the French national space agency CNES.

Mike Gold, Redwire's Chief Growth Officer, emphasized the company's commitment to flawless execution and on-time delivery to ensure customer success in connecting the world through ultra-flexible and robust satellite capabilities.

Phase Four, a leader in electric propulsion for satellites, has signed a strategic cooperation agreement with Redwire Space to develop and deliver Hall Effect Thrusters (HETs) for government and commercial markets. Utilizing the NASA-designed H71M Hall Effect Thruster, the collaboration aims to produce a line of propulsion systems called the Valkyrie System. These systems will offer features like post-launch reprogramming, multiple set-points for optimization, and extensive telemetry for fuel management and extended satellite life.

This partnership represents a significant step in Phase Four's expansion of its product offerings, which already include the Maxwell product line and other innovative propulsion technologies. The agreement is expected to address supply chain challenges and support national security programs, promising a robust market for these advanced thrusters.