Slide 1: Q1 2025 Investor Presentation
Q1 2025 Investor Presentation May 12, 2025
Slide 2: No Solicitation, Use of Data, Use of Projections
No Solicitation This Presentation is not intended to and does not constitute the solicitation of a vote with respect to any matter subject to the vote of Redwire's stockholders, which solicitation is made solely pursuant to a definitive proxy statement, nor does it constitute an offer to sell or the
Slide 3: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Readers are cautioned that the statements contained in this Presentation regarding expectations of our performance or other matters that may affect our or the combined company’s business, results of operations, or financial condition are “for
Slide 4: Non-GAAP Financial Information and Key Performance Indicators
Non-GAAP Financial Information This Presentation contains financial measures that have not been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). These financial measures include forecasted Adjusted EBITDA and Free Cash Flow for Redwire assuming comple
Slide 5: Agenda
Agenda Presenters 1 Q1 2025 Results 6 2 Financial Results & 2025 Outlook 16 3 Q&A 19 Peter Cannito Jonathan Baliff Chairman & Chief Executive Officer Chief Financial Officer & Director 1. Insert Footnote 5
Slide 6: Q1 2025 Results
Q1 2025 Results Peter Cannito, Chairman and CEO Credit: Redwire 1. Insert Footnote 6
Slide 7: 2025 Growth Strategies
2025 Growth Strategies Credit: Firefly (taken on a Credit: Redwire Credit: ESA Credit: NASA Credit: Edge Autonomy Redwire camera) Providing Delivering Exploring Unlocking Executing Picks & Multi- the Moon, Venture Accretive Shovels Domain Mars & Optionality M&A Platforms Beyond 1. Insert Footnote 7
Slide 8: Providing Picks & Shovels: IBDM for the Lunar I-Hab
1 Providing Picks & Shovels IBDM for the Lunar I-Hab --------------- Awarded a contract from Thales Alenia Space to provide 4 docking mechanisms for ESA's habitation module for lunar Gateway. The IBDM will enable safe transfers of crew and cargo from the visiting spacecraft to the Gateway, supportin
Slide 9: Delivering Multi-Domain Platforms: ARRAKIHS Dark Matter Mission
2 Delivering Multi-Domain Platforms ARRAKIHS Dark Matter Mission Credit: Redwire --------------- Redwire was awarded one of two parallel industry studies for the European Space Agency's ARRAKIHS mission, which aims to advance space exploration by imaging faint galaxies in the nearby universe and pro
Slide 10: Exploring the Moon, Mars & Beyond: MOU with ispace-U.S.
3 Exploring the Moon, Mars & Beyond MOU with ispace-U.S. --------------- Redwire and ispace-U.S. signed a Memorandum of Understanding to jointly pursue commercial lunar exploration and science missions for the NASA CLPS initiatives plus other customers. Redwire is a prime contractor on the CLPS IDIQ
Slide 11: Unlocking Venture Optionality: Industrial Crystallizer
4 Unlocking Venture Optionality Industrial Crystallizer --------------- To complement the existing PIL-BOX platform, Redwire launched a high-volume Industrial Crystallizer capable of processing samples up to 200x the volume of the original PIL-BOX technology. Redwire's Golden Balls experiment, which
Slide 12: Executing Accretive M&A: Edge Autonomy Path to Closing
5 Executing Accretive M&A Edge Autonomy Path to Closing --------------- • Announced acquisition of Edge Autonomy on January 20, 2025 • Announced receipt of all regulatory approvals for the acquisition on March 21, 2025 • Filed Definitive Proxy on May 9, 2025 • Transaction expected to close during Q2
Slide 13: Supply Chain Structure Provides Resiliency: Minimal Tariff Impact
Supply Chain Structure Provides Resiliency Minimal Tariff Impact --------------- • U.S.-based supply chain aligned to deliver to U.S. customer base, particularly on federally funded contracts, with Europe-based supply chain for international customers • Major, ongoing customer builds already have a
Slide 14: Golden Dome Opportunity
Golden Dome Opportunity Exploring Solutions Throughout the Layered Defense --------------- Redwire is exploring multiple solutions throughout the Golden Dome missile defense architecture leveraging our existing capabilities to protect the United States Credit: Redwire 1. Insert Footnote 14
Slide 15: Continued Pipeline and Backlog Development
Continued Pipeline and Backlog Development Demonstrating the Heritage + Innovation Differentiation Quarterly Contracts Awarded ($M) ~$6.0B ~$0.5B $35.7 $56.2 Pipeline as of FY2025 submitted bids March 31, 2025 as of March 31, 2025 12/31/2024 3/31/2025 1 Contracted Backlog Detail ($M) $56.2M 0.92x $2
Slide 16: Financial Results & 2025 Outlook
Financial Results & 2025 Outlook Jonathan Baliff, Chief Financial Officer Proba-3 Mission Rendering Credit: ESA 1. Insert Footnote 16
Slide 17: Balancing Growth & Profitability in FY2025
Balancing Growth & Profitability in FY2025 $69.6 $61.4M $61.4 $(2.9)M $(2.9) Revenue Net Loss Including a $13.6M gain associated with the change in fair $(67.2) value of warrant liabilities1 Q4 2024 Q1 2025 Q4 2024 Q1 2025 $(2.3)M $89.2 $89.2M $64.1 $(2.3) Adjusted Total Liquidity3 With Cash from Op
Slide 18: 2025 Outlook
2025 Outlook Revenue 52.9 % : t C AGR poi n Mid $605.0 • Accelerated Revenue Growth - 202 5E 2023 $535.0 ◦ We are forecasting full year 2025 Combined $304.1 Revenues to be $535-$605M1 $243.8 • Scale Driving Operating Leverage and Redwire 2023 Redwire 2024 Combined 2025E Cash Flow ◦ We are forecastin
Slide 19: Questions & Answers
Questions & Answers 1. Insert Footnote 19
Slide 20: Appendix
Appendix > 20
Slide 21: Q1 2025 Quarter-to-Date Performance
Q1 2025 Quarter-to-Date Performance Three Months Ended $ Change from prior % Change from prior ($ in thousands, except percentages) March 31, 2025 March 31, 2024 year period year period Revenues $ 61,395 $ 87,792 $ (26,397) (30)% Cost of sales 52,354 72,967 (20,613) (28) Gross profit 9,041 14,825 (5
Slide 22: Supplemental Non-GAAP Information
Supplemental Non-GAAP Information Three Months Ended Adjusted EBITDA (in thousands) March 31, 2025 March 31, 2024 Adjusted EBITDA is not a measure of results under generally accepted Net income (loss) $ (2,948) $ (8,096) accounting principles in the United States. Interest expense, net 3,594 2,918 A
Slide 23: Supplemental Non-GAAP Information, Continued
Supplemental Non-GAAP Information, Continued i. Redwire incurred acquisition costs including due diligence, integration costs and Three Months Ended additional expenses related to pre-acquisition activity. Acquisition deal costs was (in thousands) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 reclassified
Slide 24: Supplemental Non-GAAP Information, Continued
Supplemental Non-GAAP Information, Continued Three Months Ended Free Cash Flow Free Cash Flow is computed as net cash provided by (in thousands) March 31, 2025 March 31, 2024 (used in) operating activities less capital expenditures. The Net cash provided by (used in) operating activities $ (45,081)
Slide 25: Key Performance Indicators
Key Performance Indicators Contracted Backlog We view growth in backlog as a key measure of our business growth. Contracted backlog March 31, December 31, represents the estimated dollar value of firm funded executed contracts for which work (in thousands) 2025 2024 has not been performed (also know