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Jun 30, 2022
Redwire Q2 2022 Earnings Report
Reported second quarter 2022 financial results.
Key Takeaways
Redwire Corporation reported a revenue increase of 14.2% to $36.7 million for the second quarter ended June 30, 2022. The company's net loss was $(77.0) million, which included an $80.5 million non-cash goodwill, intangible and long-lived asset impairment charge.
Revenue increased $4.6 million, or 14.2%, to $36.7 million for the three months ended June 30, 2022, from $32.1 million for the three months ended June 30, 2021.
Successful delivery of proven and differentiated products and services for multiple National Security Space (“NSS”) and commercial customers, including for multi-year, multi-shipset missions.
Operational successes have led to additional work and cross-selling of higher gross margin products and services with improved on-time deliveries, including for large solar array programs and navigation component projects.
Our significantly higher 1.68 book-to-bill ratio, combined with increased gross margins, provides for an improved financial outlook for the second half of 2022 and 2023.
Redwire
Redwire
Forward Guidance
Redwire expects revenues to be in a range of approximately $165 million to $175 million and Pro Forma Adjusted EBITDA to be in a range between $(2.0) million and $3.0 million.