**Redwire Corp Reports Increased Revenue but Faces Significant Losses in Fiscal Year 2025**
Redwire Corp (RDW) reported total revenues of $335.4 million for the year ended December 31, 2025, an increase of 10% compared to $304.1 million in the previous fiscal year. This growth was primarily driven by the acquisition of Edge Autonomy, which contributed $107.1 million in revenue. However, this increase was partially offset by $41.1 million of net unfavorable adjustments to estimated costs at completion (EAC), compared to $17.7 million in the previous year, and a shift in production cycles for certain power generation contracts.
Despite the revenue increase, Redwire reported a net loss attributable to the company of $226.6 million, a 98% increase from the $114.3 million loss in 2024. The company's gross profit decreased by 61% to $17.3 million, with gross margin declining to 5% from 15% in the prior year. This decline was attributed to the unfavorable EAC adjustments and a $13.6 million non-cash expense related to the purchase accounting fair value adjustment associated with the Edge Autonomy acquisition. Operating expenses also significantly increased, primarily due to a $47.1 million increase in share-based compensation and $48.5 million in SG&A expenses related to Edge Autonomy.
Strategic developments during the year included the acquisition of Edge Autonomy, aimed at expanding Redwire's capabilities in autonomous systems, and the formation of Space Microgravity Development LLC and Redwire Defense Tech UK, Ltd. The company also secured a $44 million phase 2 contract to advance the Defense Advanced Research Projects Agency’s Otter mission and entered into an eight-figure agreement with The Exploration Company to provide docking mechanisms. As of December 31, 2025, Redwire's total contracted backlog was $411.2 million, with $299.8 million related to the Space segment and $111.4 million related to the Defense Tech segment.
Looking ahead, Redwire faces challenges in integrating acquisitions, managing costs, and accurately estimating contract costs. The company also acknowledges risks related to economic uncertainty, government contracts, and cybersecurity threats. Redwire is focused on remediating material weaknesses in internal control over financial reporting and continuing to invest in research and development to maintain its competitive position in the space and defense technology markets. The company's ability to convert its backlog into revenue and manage its debt obligations will be critical to its future financial performance.
About Redwire Corp
Redwire Corporation specializes in mission-critical space solutions and high-reliability space infrastructure for government and commercial markets. Its core offerings include avionics, sensors, power generation, structures, RF systems, spacecraft platforms, and microgravity payloads. With decades of flight heritage, the company supports space exploration, national security, and civil space initiatives globally, leveraging innovative technologies and strategic acquisitions to enable complex space missions and infrastructure development.
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