Redwire Corporation (RDW) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Let me remind everyone that during the call, Redwire management may make forward-looking statements that reflect our beliefs, expectations, intentions, or predictions of the future. Our forward-looking statements are subject to risks and uncertainties that are described in more detail on slides two and three. Additionally, to the extent we discuss non-GAAP measures during the call, please see slide three in the appendix, our earnings release, or the investor presentation on our website for the calculation of these measures and their reconciliation to U.S. GAAP measures. I am Alex Corotolo, Redwire's Senior Director of Investor Relations. Joining me on today's call are Peter Conito, Redwire's Chairman and Chief Executive Officer, and Chris Edmonds, Redwire's Chief Financial Officer. With that, I would like to turn the call over to Pete. Pete? Thank you, Alex. During today's call, I will outline our key accomplishments during the first quarter of 2026, after which Chris will present the financial highlights for the same period and discuss our outlook for the remainder of 2026. We will then open the call for Q&A. Please turn to slide six. During the first quarter of 2026, Redwire saw strong demand across our differentiated products. During the quarter, Redwire achieved a strong book-to-bill ratio of 1.92, and as a result, ended the quarter with record contracted backlog of $498.1 million, providing confidence in our forecast as we move further into 2026. We sharpened our operational performance and portfolio management, resulting in sequential and year-over-year improvement in gross margin, moving from 9.6% in Q4 2025 and 14.7% in Q1 2025 up to 26.6% in Q1 2026. And finally, we accelerated investing in large procurement opportunities across our portfolio, such as Androm...