Redwire : Q4 FY2025 Earnings Presentation

About this update from Redwire Corporation

INVESTOR UPDATE Q4 and FY25 FEBRUARY 26, 2026 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS (CONTINUED) (continued from prior slide) (37) the fact that provisions in our Certificate of Designation with respect to our Series A Convertible Preferred Stock may delay or prevent our acquisition by a third party, which could also reduce the market price of our capital stock; (38) the fact that our Series A Convertible Preferred Stock has rights, preferences and privileges that are not held by, and are preferential to, the rights of holders of our other outstanding capital stock; (39) the possibility of sales of a substantial amount of our common stock by our current stockholders; (40) volatility in the trading price of our common stock; (41) identification of material weaknesses of other deficiencies or failure to maintain effective internal controls over financial reporting and (42) other risks and uncertainties described in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and those indicated from time to time in other documents filed or to be filed with the Securities and Exchange Commission by Redwire. The forward-looking statements contained in this Presentation are based on our current expectations and beliefs concerning future developments and their potential effects on us. If underlying assumptions to forward-looking statements prove inaccurate, or if known or unknown risks or uncertainties materialize, actual results could vary materially from those anticipated, estimated, or projected. The forward-looking statements contained in this Presentation are made as of the date of this Presentation, and Redwire disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Persons reading this Presentation are cautioned not to place undue reliance on forward-looking statements. 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, Adjusted Gross Profit, Adjusted Gross Margin and Free Cash Flow. Non-GAAP financial measures are used to supplement the financial information presented on a U.S. GAAP basis and should not be considered in isolation or as a substitute for the relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. Because not all companies use identical calculations, our presentation of Non-GAAP measures may not be comparable to other similarly titled measures of other companies. We encourage investors and stockholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Adjusted EBITDA is defined as net income (loss) adjusted for interest expense, net, income tax expense (benefit), depreciation and amortization, impairment expense, transaction expenses, acquisition integration costs, acquisition earnout costs, purchase accounting fair value adjustment related to deferred revenue and inventory, severance costs, capital market and advisory fees, disposal of long-lived assets, litigation-related expenses, equity-based compensation, committed equity facility transaction costs, debt financing costs and extinguishment losses, gains on sale of joint ventures, net of costs incurred, and warrant liability change in fair value adjustment. Adjusted Gross Profit is defined as revenues less cost of sales as computed in accordance with U.S. GAAP, excluding adjustments resulting from the application of purchase accounting included in cost of sales and Adjusted Gross Margin is defined as Adjusted Gross Profit as a percentage of revenue. Management believes these non-GAAP measures provide investors meaningful insight into results from ongoing operations as the calculation of these measures excludes the impact of certain non-recurring charges. Management believes that by using Adjusted Gross Margin in conjunction with GAAP Gross Margin, investors will get a more complete view of what management considers to be the Company's core operating performance and allow for comparison of this measure when compared to those of prior periods. Free Cash Flow is computed as net cash provided by (used in) operating activities less capital expenditures. We use Adjusted EBITDA, Adjusted Gross Profit and Adjusted Gross Margin to evaluate our operating performance, generate future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. We use Free Cash Flow as an indicator of liquidity to evaluate our period-over-period operating cash generation that will be used to service our debt, and can be used to invest in future growth through new business development activities and/or acquisitions, among other uses. Free Cash Flow does not represent the total increase or decrease in our cash balance, and it should not be inferred that the entire amount of Free Cash Flow is available for discretionary expenditures, since we have mandatory debt service requirements and other non-discretionary expenditures that are not deducted from this measure. KEY PERFORMANCE INDICATORS Management uses Key Performance Indicators ("KPIs") to assess the financial performance of the Company, monitor relevant trends and support financial, operational and strategic decision-making. Management frequently monitors and evaluates KPIs against internal targets, core business objectives as well as industry peers and may, on occasion, change the mix or calculation of KPIs to better align with the business, its operating environment, standard industry metrics or other considerations. If the Company changes the method by which it calculates or presents a KPI, prior period disclosures are recast to conform to current presentation. TRADEMARKS This Presentation contains trademarks, service marks, tradenames and copyrights of Redwire and other companies, which are the property of their respective owners. The use herein does not imply an affiliation with, or endorsement by, the owners of these trademarks, service marks and tradenames. Third-party logos herein may represent past customers, present customers or may be provided simply for illustrative purposes only. Inclusion of such logos does not necessarily imply affiliation with or endorsement by such firms or businesses. There is no guarantee that Redwire will work, or continue to work, with any of the firms or businesses whose logos are included herein in the future. 3 Redwire | Q4 2025 Investor Update AGENDA Peter Cannito CHAIRMAN & CHIEF EXECUTIVE OFFICER Q4 and FY25 Highlights Chris Edmunds CHIEF FINANCIAL OFFICER Financial Results & FY26 Outlook 4 Redwire | Q4 2025 Investor Update Q4 AND FY25 HIGHLIGHTS Peter Cannito, Chairman and CEO 5 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights FY25 HIGHLIGHTS IN 2025, REDWIRE TRANSFORMED FROM A PURE-PLAY SPACE PROVIDER TO AN AGILE, SCALED, MULTI-DOMAIN SPACE AND DEFENSE TECH COMPANY Expanded customer base to 170+ customers in 2025 Added ~660 employees in 2025, ending the year with ~1,410 Employees around the globe Ended 2025 with a record $411.2M In Contracted Backlog 1 Strengthened & de-levered the balance sheet with $130.2M In record, year-end total liquidity 2 MOVED UP THE VALUE CHAIN WITH PRIMESHIPS IN THE U.S. & EUROPE AND ADDED TWO MATURE AIRBORNE PLATFORMS TO BECOME MULTI-DOMAIN 6 Redwire | Q4 2025 Investor Update 1 Contracted Backlog is a "Key Performance Indicator." Please refer to the Appendix of this Presentation for additional information. 2 Total liquidity of $130.2 million as of December 31, 2025 is comprised of $94.5 million in cash and cash equivalents, $35.0 million in available borrowings from our existing credit facilities, and $0.7 million in restricted cash. Q4 and FY25 Highlights MATURING THE PORTFOLIO & SCALING PRODUCTION IN FY26 Gross Margin (%) Development Market Low-Rate Initial Production Full Production Penetration Begins Here % of 2021 revenue % of 2025 revenue % of 2021 revenue <2% % of 2025 revenue ~33% % of 2021 revenue ~73% % of 2025 revenue ~32% ~25% ~35% Significant increase driven by the addition of Edge Autonomy Risk Reduction AS WE MATURE, OUR PORTFOLIO IS EVOLVING TO A MORE BALANCED MIX 7 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights REDWIRE VALUE DRIVERS SPACE DEFENSE TECH Next-Gen Spacecraft Large Space Infrastructure Microgravity Development VLEO / GEO ROSA / IBDM PIL-BOX / BioFabrication Facility Combat-Proven UAS Sensors & Payloads Stalker / Penguin Optics / RF 8 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights NEXT-GEN SPACECRAFT AWARDED $44M DARPA PHASE 2 AWARD TO ADVANCE THE OTTER PROGRAM Leveraging Redwire's U.S.-built SabreSat platform, this program strengthens our leadership in VLEO and accelerates cutting-edge capabilities that will define the future of this critical domain. 9 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights NEXT-GEN SPACECRAFT SUCCESSFUL INTEGRATION OF 10 PAYLOADS FOR ESA'S ΣYNDEO-3 SATELLITE Leveraging Redwire's Belgium-built Hammerhead LEO platform, which boasts 50 years of in-orbit performance, Σyndeo-3 aims to accelerate the development of new technologies and stimulate the European space ecosystem. 10 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights LARGE SPACE INFRASTRUCTURE INTRODUCING ELSA, OUR NEW SOLAR ARRAY FOR SATELLITE CONSTELLATIONS From the experience, technical expertise, and success of ROSA, comes a high-performance, low-mass, flexible solar array that can provide more power by volume than traditional arrays. Engineered for production, with modular, scalable design and rapid turnaround. 11 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights LARGE SPACE INFRASTRUCTURE 8-FIGURE AWARD TO PROVIDE DOCKING SYSTEMS FOR THE EXPLORATION COMPANY'S NYX This contract marks a meaningful step in supporting Europe's fast-growing commercial space sector, and follows an IBDM award from Thales Alenia Space we announced earlier in the year. 12 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights MICROGRAVITY DEVELOPMENT FOLLOW-ON CONTRACT TO STUDY ASPERA BIOMEDICINES' CANCER "KILL SWITCH" Redwire is proud to have again been selected as a trusted implementation partner by Aspera Biomedicines. Aspera Biomedicines' second set of on-orbit experiments will use Redwire's PIL-BOX hardware to further understand the crystal structure of ADAR1-p150, with the goal of creating better cancer drugs that improve patient outcomes. 13 Redwire | Q4 2025 Investor Update Credit: NASA Q4 and FY25 Highlights COMBAT-PROVEN UAS TRAINING ON COMBAT-PROVEN STALKER FOR THE U.S. ARMY 1ST AVIATION BRIGADE During the quarter, Army soldiers began training with the Stalker, representing the first time in years that a new Group 2 UAS was used in support of an Army course at Fort Rucker. This further reinforces that Stalker is seen by the Army as a key part of their force design for long-range reconnaissance training and operations. 14 Redwire | Q4 2025 Investor Update The appearance of U.S. Department of War visual information does not imply or constitute DOW endorsement. Q4 and FY25 Highlights COMBAT-PROVEN UAS GRAND OPENING OF OUR NEW 85,000 SQ.FT. FACILITY FOR FUEL CELL PRODUCTION We believe that fuel cells are a critical differentiator for our Stalker platform, allowing for extended range and endurance, silent operations, and easily-sourced fuel. With this strategic expansion, we believe we are well-positioned with a domestic manufacturing base to increase production and support growing demand. 15 Redwire | Q4 2025 Investor Update Q4 and FY25 Highlights SENSORS & PAYLOADS AWARD FOR PENGUIN VTOL AND OCTOPUS GIMBALS FOR CROATIAN BORDER PATROL Building successful border patrol deployments around the globe, Redwire is proud to have been chosen again by the European Border and Coast Guard Agency (Frontex) to provide key technologies that are effective even in austere environments. 16 Redwire | Q4 2025 Investor Update FINANCIAL RESULTS & FY26 OUTLOOK Chris Edmunds, Chief Financial Officer 17 Redwire | Q4 2025 Investor Update Credit: NASA | Photo taken with a Redwire camera during Artemis 1. Financial Results & FY26 Outlook ACHIEVED TOP END OF 2025 REVENUE RANGE provided revenue range $400.0 $350.0 $300.0 $304.1 $250.0 $200.0 $150.0 $100.0 $50.0 $335.4 $- FY24 FY25 Recorded Revenue FY25 $335.4M FY25 revenue; Edge Autonomy contributed $107.1M post-acquisition Represents 10.3% year-over-year revenue growth 18 Redwire | Q4 2025 Investor Update Financial Results & FY26 Outlook Q4 FY25 REVENUE & PROFITABILITY $120.0 $54.5 $59.8 $9.8 $54.3 $100.0 $108.8 +56.4% Year-over-year increase in Q4 revenue With 18.9% Civil, 59.2% National Security, and 21.9% Commercial and other revenue in Q4 FY25 $80.0 $60.0 $40.0 $20.0 $- $69.6 Q4 FY24 Revenue Q4 FY25 Revenue Gross Margin Net Income Adj. EBITDA 1 Consolidated 6.6% $(67.2)M $(9.2)M Gross Margin Net Income Adj. EBITDA 1 9.6% $(85.5)M $(18.1)M 19 Redwire | Q4 2025 Investor Update 1 Adjusted EBITDA is not a measure of results under generally accepted accounting principles in the United States. Please refer to the Appendix of this Presentation for additional information. Financial Results & FY26 Outlook LIQUIDITY & CAPITAL STRUCTURE $140.0 $120.0 $100.0 $80.0 $60.0 $40.0 $20.0 $- $130.2 $0.7 $35.0 $64.1 $33.7 $15.0 $15.4 $94.5 Q4 FY24 Total Liquidity Q4 FY25 Total Liquidity DURING 2025, REDWIRE STRENGTHENED ITS BALANCE SHEET AND SIMPLIFIED ITS CAPITAL STRUCTURE, WITH RECORD YEAR END LIQUIDITY OF $130.2M 1 Significantly de-levered: during 2025, repaid net $125.5M of debt resulting in estimated annualized interest savings of $14M+ 57% reduction 2 in shares of Convertible Preferred Stock outstanding through share repurchase and voluntary conversion 83% reduction 3 in outstanding warrants through exercise and redemption; remaining outstanding private warrants expire in Q3 2026 In Feb. 2026, the company amended its remaining credit agreement extending the maturity to May 2029 and lowering the interest spread, resulting in additional estimated annualized interest savings of approximately $3M TOTAL ESTIMATED ANNUALIZED INTEREST SAVINGS OF $17M+ FROM DE-LEVERING & RE-FINANCING 20 Redwire | Q4 2025 Investor Update 1 Total liquidity of $130.2 million as of December 31, 2025 is comprised of $94.5 million in cash and cash equivalents, $35.0 million in available borrowings from our existing credit facilities, and $0.7 million in restricted cash. 2 There were 46,505.13 and 108,649.30 shares of Convertible preferred stock outstanding as of December 31, 2025 and December 31, 2024, respectively. 3 There were 2,633,195 private warrants and no public warrants outstanding as of December 31, 2025 and 7,732,168 private warrants and 8,188,811 public warrants outstanding as of December 31, 2024. Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

View stock analysis, news, and events for Redwire Corporation