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Sep 30, 2024
Redwire Q3 2024 Earnings Report
Redwire's Q3 2024 financial results were reported, featuring revenue growth and strategic acquisition.
Key Takeaways
Redwire Corporation reported a 9.6% increase in revenue to $68.6 million for Q3 2024. The company's contracted backlog increased by 30.2% year-over-year to $330.1 million. However, the company experienced a net loss of $(21.0) million, which includes a loss contingency of $8.0 million related to a securities lawsuit, while adjusted EBITDA was $2.4 million.
Revenues increased by 9.6% year-over-year to $68.6 million.
Contracted Backlog increased by 30.2% year-over-year to $330.1 million.
Net Loss was $(21.0) million, including a loss contingency of $8.0 million.
Adjusted EBITDA was $2.4 million.
Redwire
Redwire
Forward Guidance
Redwire affirms its forecast for full year 2024 revenues of $310 million.
Positive Outlook
- Redwire continued its robust top line performance during the third quarter.
- Revenue for the nine months ended September 30, 2024 reached $234.5 million, a 30.1% improvement year-over-year.
- Positive Adjusted EBITDA was achieved during the quarter of $2.4 million.
- Bids submitted year-over-year tripled to $2.9 billion for the nine months ended September 30, 2024.
- Year-over-year improvement in backlog of 30.2% to $330.1 million.