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Mar 31, 2025
Redwire Q1 2025 Earnings Report
Redwire reported a year-over-year revenue decline with a narrowed net loss in Q1 2025.
Key Takeaways
Redwire's Q1 2025 showed a significant drop in revenue compared to the prior year, but a notable improvement in net loss. The company reported record liquidity, improved book-to-bill ratio, and secured key international contracts amid delays in U.S. government awards.
Revenue fell 30.1% year-over-year to $61.4 million.
Net loss improved to $2.9 million from $8.1 million in Q1 2024.
Book-to-bill ratio improved to 0.92, indicating strong order inflow.
Liquidity reached a record $89.2 million driven by warrant redemptions.
Forward Guidance
Redwire expects to complete its acquisition of Edge Autonomy and forecasts strong revenue and adjusted EBITDA growth for the full year 2025.
Positive Outlook
- Full-year revenue guidance: $535M–$605M (pro forma for Edge Autonomy).
- Adjusted EBITDA guidance: $70M–$105M for FY25.
- Positive free cash flow expected for FY25.
- Strong European market presence bolstered by new contracts.
- Record liquidity enhances operational flexibility.
Challenges Ahead
- Delays in U.S. government contracts due to agency transitions.
- Net cash used in operations was $45.1M in Q1 2025.
- Unfavorable EAC changes negatively impacted revenue and profitability.
- Adjusted EBITDA turned negative compared to Q1 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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