Slide 1: Jefferies Virtual Space Summit
Jefferies Virtual Space Summit June 2024 1. Insert Footnote
Slide 2: Disclaimers
Disclaimers Industry and market data used in this Presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes. Redwire has not independently verified the data obtained from these sources and cannot assure you of the
Slide 3: Non-GAAP Financial Information
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 Adjusted EBITDA, Pro Forma Adjusted EBITDA, and Free Cash Flow. Non-GAAP
Slide 4: Investment Highlights
Investment Highlights: Proven Pure-Play Space Innovator With Growth and Profitability Decades-long heritage, reliability, and deep relationships with dependable space customers Revenue driven by lower launch costs and our critical missions for government and marquee customers Space is a warfighting
Slide 5: Massive Expansion in Infrastructure
Massive Expansion in Infrastructure • Expected strong demand driven by: ◦ Space as a warfighting domain ◦ Growth in lunar infrastructure ◦ Proliferation of satellites 1. Insert Footnote 5
Slide 6: Focus on Core Offerings
Focus on 6 Core Offerings ROSA rendering Credit: Intuitive Machines Solar Sail Avionics Power Structures & & Sensors Generation Mechanisms SabreSat rendering RF Chamber Radio Frequency Platforms, Payloads & Microgravity 1. Insert Footnote Systems Missions Payloads 6
Slide 7: 2024 Growth Strategy
2024 Growth Strategy • Protecting the core • Scaling production • Moving up the value chain • Venture optionality PACE Satellite Credit: NASA 1. Insert Footnote 7
Slide 8: Appendix: Recent Financial Information
Appendix: Recent Financial Information 8
Slide 9: Backlog Growth Demonstrates the Heritage + Innovation Differentiation
Backlog Growth Demonstrates the Heritage + Innovation Differentiation ~$6.3B ~$610M Pipeline as of 2024 Year-to-Date March 31, 2024 submitted bids as of March 31, 2024 1 $35.1M 1.11x Q1 2024 Q1 2024 LTM Contract Awards Book-to-Bill1 1. Insert Footnote 1Contracted Backlog and Book-to-Bill are “Key Pe
Slide 10: Quarterly Revenues
Quarterly Revenues Increase in revenues to • 38.3% sequential increase in 52.4% $87.8 for Q1 2024 vs. $57.6 for Q1 2023 revenues from Q4 2023 to record quarterly revenue of $87.8 million in Q1 2024 • More than 90% of revenues from Government and Marquee customers • No longer presenting year-over- ye
Slide 11: Quarterly Adjusted EBITDA
Quarterly Adjusted EBITDA Sequential improvement in • Q1 2024 Adjusted EBITDA was flat +$2.6M Adjusted EBITDA in Q1 2024 vs. Q4 2023 with Q1 2023; however significant sequential improvement from Q4 2023 • Positive Adjusted EBITDA supported by a decrease in SG&A margin, to 19.8% in Q1 2024 vs. 27.8%
Slide 12: Quarterly Free Cash Flow and Liquidity
Quarterly Free Cash Flow and Liquidity Q1 2024 Free Cash Flow1; a $0.4M year-over-year improvement of $15.2M $47.6M Ending liquidity as of March 31, 2024 1 Exact figures may not foot or recalculate based on reported numbers due to rounding. Exact figures may not foot or recalculate based on reported
Slide 13: Q1 2024 Quarter-to-Date Performance
Q1 2024 Quarter-to-Date Performance Three Months Ended $ Change from prior % Change from prior ($ in thousands, except percentages) March 31, 2024 March 31, 2023 year period year period Revenues $ 87,792 $ 57,605 $ 30,187 52 % Cost of sales 72,967 43,388 29,579 68 Gross margin 14,825 14,217 608 4 Op
Slide 14: Supplemental Non-GAAP Information
Supplemental Non-GAAP Information Adjusted EBITDA and Pro Forma Adjusted EBITDA Adjusted EBITDA and Pro Forma Adjusted EBITDA are not measures of results under Three Months Ended generally accepted accounting principles in the United States. March 31, March 31, (in thousands) 2024 2023 Adjusted EBIT
Slide 15: 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. (in thousands) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 ii. Redwire recorded adjustments relate
Slide 16: Supplemental Non-GAAP Information, Continued
Supplemental Non-GAAP Information, Continued Free Cash Flow Three Months Ended Free Cash Flow is computed as net cash provided by (in thousands) March 31, 2024 March 31, 2023 (used in) operating activities less capital expenditures. The Net cash provided by (used in) operating activities $ 2,764 $ (
Slide 17: Key Performance Indicators
Key Performance Indicators Contracted Backlog We view growth in backlog as a key measure of our business growth. Contracted backlog represents the estimated dollar value of firm funded executed contracts for which work March 31, December 31, (in thousands) 2024 2023 has not been performed (also know