Slide 1: Jefferies Industrials Conference
Jefferies Industrials Conference September 7, 2023 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, Free Cash Flow, and Comparabl
Slide 4: Redwire 101: Investment Highlights: Pure-Play Space Company With Revenue and Scale
Redwire 101: Investment Highlights: Pure-Play Space Company With Revenue and Scale Proven performance, history and deep relationships with dependable space customers Revenue driven by critical missions for government customers such as NASA, DoD and ESA National security infrastructure and clearances
Slide 5: Redwire 101: The Redwire Mission
Redwire 101: The Redwire Mission Redwire provides the fundamental building blocks of space operations Structures is Software Power accelerating humanity’s expansion into space by delivering reliable, economical and sustainable Navigation, Control & Awareness infrastructure for future Payloads genera
Slide 6: Redwire 101: What Does Redwire Do?
Redwire 101: What Does Redwire Do? Redwire has 3 primary areas of focus . . . 1. Integrated Mission Enabler 2. Exploring, Living, and Working in Space 3. Multinational Mission Support . . . for 3 main customer types • Civil: Civilian space agencies such as NASA and ESA • Commercial: Predominantly ma
Slide 7: Redwire 101: How Does Redwire Do It?
. Redwire 101: How Does Redwire Do It? 1. Integrated Mission 2. Explore, Live and Work in Space 3. Supporting Ambitious, Enabler for the Benefit of Humanity Multinational Missions Power generation, antennas, deployable Microgravity payloads, platforms, and in- International operations and products t
Slide 8: Backlog Growth Demonstrates the Heritage + Innovation Demand and Differentiation
Backlog Growth Demonstrates the Heritage + Innovation Demand and Differentiation 1 ~$3.7BPipeline as of ~$489M 2023 Year-to-Date submitted bids as June 30, 2023 of June 30, 2023 68.3% $45.6M Q2 2023 1.49x Q2 2023 LTM Contract Awards Book-to-Bill1 1. Insert Footnote 1Contracted Backlog and Book-to-Bi
Slide 9: Accelerating Revenue Growth
Accelerating Revenue Growth Increase in LTM revenues to $208.7 for 45.6% Q2 2023 vs $143.4 for Q2 2022 • 4.3% increase in revenues from Q1 2023 to Q2 2023 • 63.6% increase in Q2 2023 vs. Q2 2022 • 24.9% increase in Q2 2023 vs. Q2 2022, excluding Space NV1 • More than 85% of revenues from Government
Slide 10: Quarterly Adjusted EBITDA
Quarterly Adjusted EBITDA • Nominal improvement in Q2 2023 vs. Q1 2023 +$8.4M or 207.4% improvement in Adjusted EBITDA in Q2 2023 vs. Q2 2022 • Primarily driven by revenue growth and our "excellence in execution" initiatives that improved Gross Margin from 19.0% to 26.5% and Gross Profit from $7.0M
Slide 11: Quarterly Free Cash Flow and Liquidity
Quarterly Free Cash Flow and Liquidity Q2 2023 Free Cash Flow,1 Ending liquidity as of June 30, $1.1M sequential improvement of 107.4% $36.2M 2023 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 number
Slide 12: Appendix: Recent Financial Information
Appendix: Recent Financial Information 12
Slide 13: Q2 2023 Quarter-to-Date Performance
Q2 2023 Quarter-to-Date Performance Three Months Ended $ Change from prior % Change from prior ($ in thousands, except percentages) June 30, 2023 June 30, 2022 year period year period Revenues $ 60,098 $ 36,728 $ 23,370 64 % Cost of sales 44,194 29,746 14,448 49 Gross margin 15,904 6,982 8,922 128 O
Slide 14: Q2 2023 Year-to-Date Performance
Q2 2023 Year-to-Date Performance Six Months Ended $ Change from prior % Change from prior ($ in thousands, except percentages) June 30, 2023 June 30, 2022 year period year period Revenues $ 117,703 $ 69,595 $ 48,108 69 % Cost of sales 87,582 57,442 30,140 52 Gross margin 30,121 12,153 17,968 148 Ope
Slide 15: 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 Six Months Ended generally accepted accounting principles in the United States. (in thousands) June 30, 2023 June 30, 2022 Adjusted EBITDA i
Slide 16: 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) Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 ii. Redwire recorded adjustments relate
Slide 17: Supplemental Non-GAAP Information, Continued
Supplemental Non-GAAP Information, Continued Six Months Ended Free Cash Flow (in thousands) June 30, 2023 June 30, 2022 Free Cash Flow is computed as net cash provided by Net cash provided by (used in) operating activities $ (11,204) $ (15,584) (used in) operating activities less capital expenditure
Slide 18: 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 June 30, December 31, (in thousands) 2023 2022 has not been performed (also known