Start here if you're new
what it is
Redwire builds space hardware and software for satellites, antennas, sensors, and mission design.
how it gets paid
Last year Redwire made $335M in revenue. Space infrastructure hardware was the main engine at $0.115B, or 34% of sales.
why it's growing
Revenue grew 10.3% last year. The quarter grew hard on the top line.
what just happened
$227M of revenue grew 119% vs. prior year, but 3.0% gross margin left almost no cushion.
At a glance
B balance sheet — gets the job done, barely
-$2.35 fy2024 eps est
$304M fy2024 rev est
68.5% operating margin
1.7 beta
xvary composite: 40/100 — below average
What they do
Redwire builds space hardware and software for satellites, antennas, sensors, and mission design.
Redwire sells the parts that space missions cannot cheaply replace. That includes solar arrays, RF antennas, payload adapters, camera systems, star trackers, and a cloud software suite. If your payload is in orbit, switching vendors is not a casual errand, and 750 employees are carrying $335M of revenue, or about $447k per worker.
How they make money
$335M
annual revenue · their business grew +10.3% last year
Space infrastructure hardware
$0.115B
RF antennas
$0.095B
Sensors and components
$0.070B
Digital engineering software
$0.055B
The products that matter
builds orbital platforms
Space Infrastructure
$201M · about 60% of revenue mix shown here
It's the biggest piece of the business at $201M, and it's where contract wins like the Belgian national security satellite deal matter most.
largest segment
manufactures flight hardware
Advanced Sensors & Components
$100.5M · about 30% of revenue mix
This $100.5M segment also picked up a $4M NASA development contract. Small dollars relative to the whole company, but it shows the customer base is real.
NASA exposure
autonomous mission systems
Autonomous Systems
$33.5M · about 10% of revenue mix
At $33.5M, this is still the smallest segment. If growth accelerates here, it can help the narrative. Right now it does not carry the company.
small but watched
Key numbers
$335M
annual revenue
You get $335M of sales, but the company still posted a brutal operating loss. More revenue is not the same as more profit.
68.5%
operating margin
jargon → plain English → so what: negative 68.5% means the core business lost 69 cents on every dollar. That is the whole problem.
$320M
long-term debt
Debt is $320M, and that is real weight for a company with thin margins and negative earnings.
1.7
beta
beta → market wobble → so what: 1.7 means the stock tends to move about 70% more than the market.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $320M (15% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for RDW right now.
source: institutional data · return history unavailable
What just happened
missed estimates
$227M of revenue grew 119% vs. prior year, but 3.0% gross margin left almost no cushion.
The quarter grew hard on the top line. EPS was -$1.72, versus -$0.29 a year ago, so the extra sales did not reach profit.
$84M
revenue
-$1.72
eps
3.0%
gross margin
the number that mattered
3.0% gross margin was the number that mattered. You sold $227M and kept almost none of it.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
The #1 risk is backlog converting into low-margin work. Redwire already has demand. The problem is turning that demand into profitable revenue.
high
profitability still looks broken
A -48% operating margin is not early-stage cosmetic damage. It's the main event. If gross margin stays near 3.0%, scale alone will not save this model.
If this persists, more revenue just means a larger machine losing money faster.
med
the 2026 guide now has to be earned
Management's $450M–$500M revenue target implies about 42% growth at the midpoint. That's ambitious relative to a business that just reported $335M for 2025 and is still posting deep losses.
A miss would hit both credibility and the valuation story at the same time.
med
contract timing can make growth lumpy
This business depends on government and large defense-style programs, including the Belgian satellite win and NASA development work. Delays, milestone slips, or procurement changes can move revenue between quarters fast.
That creates volatile prints, which this stock's 1.7 beta will not treat gently.
low
data quality is thinner than you want
This page itself shows a mismatch between the $335M 2025 result and the $304M annual estimate block. That does not mean the company is wrong. It means you should read filings closely instead of trusting summary feeds on autopilot.
Thin data raises the odds of investors anchoring to stale numbers.
A -48% operating margin on a $335M revenue base means the burden of proof is simple: show that the $411M backlog can convert into better margins before patience runs out.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
gross margin above 3.0%
This is the cleanest tell. If gross margin cannot move up from 3.0%, the backlog is not becoming good business. It's just becoming booked business.
trend
progress toward the $450M–$500M guide
A 42% growth target at the midpoint leaves little room for dead quarters. You want to see steady conversion, not one heroic period.
risk
operating losses narrowing from -48%
If operating margin stays deeply negative even as revenue rises, the thesis breaks. That's the number to watch before any story about scale.
calendar
next earnings check-in
The next report needs to do more than show growth. It needs to prove the quarter was not another case of revenue arriving with a bigger loss attached.
Analyst rankings
short-term outlook
thin data
No clean published ranking is showing in this snapshot. in human-speak, don't outsource the call to a badge that isn't there.
risk profile
elevated
A 1.7 beta, 5 / 100 price stability, and deep operating losses tell you enough. This is a speculation-grade setup until margins improve.
earnings visibility
low
Backlog helps with demand visibility. It does not make quarterly earnings predictable when contract timing and execution still swing results.
source: institutional data
Institutional activity
institutional ownership data for RDW is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$11
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive