Redwire Corporation · NYSE:RDW
Redwire — Q3 2026 Earnings Presentation
30 slides from Redwire's earnings presentation, Nov 5, 2026
Slide 1: Investor Update Q3 2026
INVESTOR UPDATE Q3 2026 NOVEMBER 5, 2026
Slide 2: Use of Data and Forward-Looking Statements
USE OF DATA Industry and market data used in this Presentation have been obtained from third-party industry publications and sources, are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section as well as from research reports prepared for
Slide 3: Cautionary Statement (Continued) and Non-GAAP Financial Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS (CONTINUED) (continued from prior slide) (38) the wide variety of extensive and evolving government laws and regulations to which our Adjusted Gross Profit is defined as revenues less cost of sales as computed in accordance with U.S. GAAP, ex
Slide 4: Agenda
AGENDA 1. Q3 2026 Highlights Peter Cannito CHAIRMAN, CHIEF EXECUTIVE OFFICER, & PRESIDENT 2. Financial Results & FY26 Outlook Chris Edmunds CHIEF FINANCIAL OFFICER 4 Redwire | Q3 2026 Investor Update
Slide 5: Q3 2026 Highlights
Q3 2026 HIGHLIGHTS Peter Cannito, Chairman, CEO, and President 5 Redwire | Q3 2026 Investor Update
Slide 6: Growing Demand, Quality Revenue
Q3 2026 Highlights Q3 2026 HIGHLIGHTS GROWING $109.0M 32.3% DEMAND, Revenue, year-over-year Record gross margins, increase of 5.4% continued execution QUALITY $619.7M $538.9M REVENUE Record Backlog1, bolstered by Book-to-Bill1 ratio of 1.73x Total liquidity2, enabling strategic investments 6 Redwire
Slide 7: Redwire Investment Framework - Q3 2026 Update
Q3 2026 Highlights REDWIRE INVESTMENT FRAMEWORK - Q3 2026 UPDATE BALANCE SHEET INTERNAL ACCRETIVE STRENGTH INNOVATION M&A With current cash balance, well- Diverse, balanced portfolio Despite macro environment, positioned to withstand market across segments, customer continuing to keep eyes open pert
Slide 8: Redwire Value Drivers
Q3 2026 Highlights REDWIRE VALUE DRIVERS SPACE NEXT-GENERATION SPACECRAFT LARGE SPACE INFRASTRUCTURE MICROGRAVITY DEVELOPMENT DEFENSE TECH COMBAT-PROVEN UAS SENSORS & PAYLOADS 8 Redwire | Q3 2026 Investor Update
Slide 9: Next-Gen Spacecraft
Q3 2026 Highlights NEXT-GEN SPACECRAFT AWARDED $20M DARPA CONTRACT FOR ADDITIONAL OTTER VLEO TESTING & EXPERIMENTATION This contract is to complete additional testing and experimentation on a scaled version of SabreSat for a precursor flight test in very low-Earth orbit (VLEO) as part of the DARPA O
Slide 10: Large Space Infrastructure
Q3 2026 Highlights LARGE SPACE INFRASTRUCTURE AWARDED $15M CONTRACT TO DELIVER ELSA WINGS TO ASCENDARC This marks the second, announced sale of Redwire's Extensible Low-Profile Solar Array (ELSA), a high-performance, low- mass solar array product, since its introduction earlier this year. Under this
Slide 11: Large Space Infrastructure
Q3 2026 Highlights LARGE SPACE INFRASTRUCTURE FOLLOW-ON POWER CONTRACT FOR AXIOM STATION'S SECOND SPACE STATION MODULE Redwire was awarded a contract to develop and deliver two Roll-Out Solar Array (ROSA) wings for Axiom Space's second space station module. As previously announced, Redwire is also b
Slide 12: Microgravity Development
Q3 2026 Highlights MICROGRAVITY DEVELOPMENT IN OCTOBER 2026, SPACEMD LAUNCHED 4 MICROGRAVITY INVESTIGATIONS ON SPACEX-35 These include the first vascular tissue bioprint in microgravity, pharmaceutical investigations targeting a cancer "kill switch", and a microgravity plant growth experiment. The i
Slide 13: Combat-Proven UAS
Q3 2026 Highlights COMBAT-PROVEN UAS SECURED ~$13.8M IN PURCHASE ORDERS TO DELIVER STALKER UAS TO U.S. NATIONAL GUARD The National Guard requires versatile operators who are trained on combat-proven aircraft that are ready to field. The long-range Stalker UAS will provide National Guard instructors
Slide 14: Sensors & Payloads
Q3 2026 Highlights SENSORS & PAYLOADS DELIVERED 200+ SPACE SENSORS1 YEAR-TO-DATE, A 100% INCREASE YEAR-OVER-YEAR During the quarter, announced the Seeker product line, a family of navigation sensors and space cameras manufactured at Redwire's high-volume production facility in Riga, Latvia. Seeker i
Slide 15: Financial Results & FY26 Outlook
FINANCIAL RESULTS & FY26 OUTLOOK Chris Edmunds, Chief Financial Officer 15 Redwire | Q3 2026 Investor Update Rapid Apophis Mission for Space Safety (Ramses) rendering. Credit: European Space Agency.
Slide 16: Q3 FY26 Revenue
Financial Results & FY26 Outlook Q3 FY26 $350.0 $323.1 REVENUE $300.0 $250.0 $154.0 $226.6 +5.4% $200.0 $150.0 $71.2 Year-over-year increase in Q3 revenue $109.0 $103.4 $100.0 $47.8 $169.1 $56.9 $155.4 $50.0 59.9% revenue derived from customers $61.3 $46.5 in the United States and 40.1% derived from
Slide 17: Q3 FY26 Profitability
Financial Results & FY26 Outlook Q3 FY26 35.0% 32.3% PROFITABILITY 30.0% 29.0% 27.1% 25.0% 32.3% 20.0% 15.0% Q3 Gross Margin 10.0% 9.0% 16.3% FUNDING INVESTMENT, NOT LOSSES 5.0% $(5.3)M $14.4M —% 3.0% Q3 FY25 Q3 FY26 YTD FY25 YTD FY26 Q3 Adjusted EBITDA1 Q3 R&D Expense Gross Margin Adjusted Gross Ma
Slide 18: Liquidity & Capital Structure
Financial Results & FY26 Outlook LIQUIDITY & $600.0 CAPITAL $538.9 $50.0 $500.0 STRUCTURE $400.0 $538.9M $300.0 Ending Q3 2026 Total Liquidity1 $488.9 $195.4 $200.0 FROM NET INTEREST EXPENSE TO INCOME $100.0 $89.3 $35.0 $47.8 Earned $3.8M in interest income on more than $400M invested in money $54.3
Slide 19: Q3 FY26 Cash Flows
Financial Results & FY26 Outlook Q3 FY26 $— $(25.4) CASH FLOWS $(25.0) $(50.0) $(97.7) $(69.8) +$57.9M $(75.0) $(100.0) $(95.2) Year-over-year improvement in net cash used in operating activities for the nine months ended September 30, 2026 $(125.0) $(55.3) $(150.0) $(153.1) Year-over-year changes i
Slide 20: Backlog & Bookings
Financial Results & FY26 Outlook BACKLOG & BOOKINGS $188.7M 1.73x $705.8M 1.63x Q3 2026 Bookings Q3 2026 Book-to-Bill1 LTM Q3 2026 Bookings LTM Q3 2026 Book-to-Bill1 BACKLOG1 Sequential $619.7 $542.1 increase $498.1 of 14.3% $411.2 $355.6 $329.5 $291.2 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Slide 21: Durable Demand
Financial Results & FY26 Outlook DURABLE DEMAND REVENUE BACKLOG1 WIP & FINISHED GOODS INVENTORY $125.0 $117.1 $800.0 $50.0 $46.8 $109.0 $9.6 $100.0 $619.7 $40.0 $36.1 $600.0 $542.1 $7.0 $37.2 $75.0 $30.0 $400.0 $29.1 $50.0 $20.0 $200.0 $25.0 $10.0 $— $— $— June 30, 2026 September 30, 2026 June 30, 2
Slide 22: FY26 Outlook
Financial Results & FY26 Outlook FY26 OUTLOOK $550.0 $500.0 FY26 $500.0 projected $450M- revenue $450.0 range $450.0 $400.0 $350.0 $300.0 $250.0 $335.4 $500M Reaffirming the FY26 projected $200.0 revenue range $150.0 $100.0 $50.0 $— Implies 41.6% year-over-year revenue FY25 FY26 growth at the midpoi
Slide 23: Q&A
Q&A The appearance of U.S. Department of War (DoW) visual information does not imply or constitute DoW endorsement. Credit: U.S. Marine Corps photo by Sgt. Martha Linares.
Slide 24: Appendix
Q3 2026 Appendix 24 Redwire | Q3 2026 Investor Update
Slide 25: Q3 2026 Quarter- & Year-to-Date Performance
Appendix Q3 2026 QUARTER- & YEAR-TO-DATE PERFORMANCE Three Months Ended Nine Months Ended ($ in thousands, except percentages) September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Revenues $ 109,035 $ 103,432 $ 323,081 $ 226,587 Cost of sales 73,813 86,622 229,507 219,800 Gros
Slide 26: Supplemental Non-GAAP Information
Appendix SUPPLEMENTAL NON-GAAP INFORMATION Adjusted EBITDA Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Adjusted EBITDA is defined as net income (loss) adjusted for interest (income) expense, net, income tax expense (benefit), depre
Slide 27: Supplemental Non-GAAP Information
Appendix SUPPLEMENTAL NON-GAAP INFORMATION Three Months Ended Nine Months Ended Free Cash Flow September 30, September 30, September 30, September 30, Free Cash Flow is computed as net cash provided by (used in) operating activities less (in thousands) 2026 2025 2026 2025 capital expenditures. The t
Slide 28: Supplemental Non-GAAP Information
Appendix SUPPLEMENTAL NON-GAAP INFORMATION Adjusted EPS Adjusted EPS is not a measure of results under generally accepted accounting principles in the United States. Adjusted EPS is defined as U.S. GAAP diluted earnings per share (the most directly Three Months Ended Nine Months Ended comparable U.S
Slide 29: Key Performance Indicators
Appendix KEY PERFORMANCE INDICATORS Three Months Ended Last Twelve Months Ended (in thousands, except September 30, September 30, September 30, September 30, ratio) 2026 2025 2026 2025 Contracts awarded Book-to-Bill Ratio Space $ 119,906 $ 63,656 $ 365,983 $ 157,909 We view book-to-bill as an indica
Slide 30: Key Performance Indicators
Appendix KEY PERFORMANCE INDICATORS Backlog We view growth in backlog as a key measure of our business growth. Contracted backlog September 30, December 31, represents the estimated dollar value of firm funded executed contracts for which work has (in thousands) 2026 2025 not been performed (also kn