Welcome to our dedicated page for Redwire Corporation news (Ticker: RDW), a resource for investors and traders seeking the latest updates and insights on Redwire Corporation stock.
Redwire Corporation (symbol: RDW) is a leading provider of mission-critical space solutions and advanced components for the next-generation space economy. With over 30 years of experience in the electronic security industry, Redwire has transitioned seamlessly into the space domain, offering a wide range of products and services tailored to meet the complex needs of future space missions and industries.
Redwire's core business revolves around its space infrastructure offerings, which include state-of-the-art products and services that have been instrumental in enabling various space missions. The company employs a unique Heritage plus Innovation strategy, which combines decades of flight experience with a culture of innovation to develop new technologies. These technologies serve as the foundational building blocks of space infrastructure for both governmental and commercial customers.
Recent achievements highlight Redwire's commitment to excellence and innovation. The company has partnered with key players in the space sector to deliver reliable and effective solutions. Financially, Redwire continues to show robust performance, marked by a steady growth trajectory and strategic investments in cutting-edge technologies.
Redwire’s diverse portfolio includes modern space components, secure communication systems, and advanced engineering services. These offerings not only ensure the success of current space missions but also pave the way for future advancements in space exploration and commercialization.
With a dedicated team of security professionals, Redwire also extends its expertise to governmental, commercial, and residential clients, providing top-tier electronic security solutions.
Redwire (NYSE: RDW) reported Q3 2024 financial results with revenues increasing 9.6% year-over-year to $68.6 million. The company completed the acquisition of Hera Systems, expanding its spacecraft portfolio for national security missions. Contracted backlog grew 30.2% to $330.1 million, while total liquidity increased 98% to $61.1 million compared to the previous year. However, net loss widened to $(21.0) million, including an $8.0 million loss contingency related to a securities lawsuit. Adjusted EBITDA decreased to $2.4 million. The company affirmed its 2024 revenue forecast of $310 million.
Redwire (NYSE: RDW) has successfully returned its third batch of pharmaceutical drug crystals from space to Earth. The samples include crystals studied by Eli Lilly and Company using Redwire's PIL-BOX platform. The research builds on a November 2023 investigation that showed insulin crystals grown in microgravity are larger and more ordered than Earth-grown ones.
The PIL-BOX system features an integrated microscope for analyzing crystallization in microgravity. Redwire has processed 16 PIL-BOX units to date and recently launched 12 more units on SpaceX-31 with new partners Bristol Myers Squibb and ExesaLibero Pharma, alongside Butler University. Previous investigations focused on treatments for cardiovascular disease, obesity, and diabetes.
Redwire (NYSE: RDW) has announced it will release its third quarter 2024 financial results after market close on November 6, 2024. The company will host a conference call on November 7, 2024, at 9 a.m. EST to discuss the results. Investors can access the call via phone (800-715-9871 toll-free or 646-307-1963 toll) using conference ID 1891293. A live webcast with slides will be available on the company's investor relations website. A replay will be accessible for two weeks following the event.
Redwire (NYSE:RDW) is preparing to deliver two satellites for the European Space Agency's (ESA) Proba-3 mission in Q4 2023. The company is also integrating spacecraft for two other ESA missions: ALTIUS and an IOD/IOV satellite. These projects are being processed at Redwire's facility in Kruibeke, Belgium, which has become a world-class satellite processing center for major ESA missions.
Redwire is the prime contractor for ALTIUS and one of the IOD/IOV missions, utilizing its P200 platform and third-generation avionics. For Proba-3, Redwire is handling spacecraft integration, testing, and providing the onboard computer. The company's Belgium facility boasts over 40 years of spaceflight experience, having successfully delivered technology for previous PROBA missions with a combined flight time of nearly 50 years without failure.
Redwire continues to support other ESA programs, including Skimsat, the International Berthing and Docking Mechanism for the lunar Gateway, and the Hera mission to study the Didymos binary asteroid system.
Redwire (NYSE: RDW) is providing a critical onboard computer system for the European Space Agency's (ESA) Hera mission, Europe's first planetary defense mission. The mission is a companion to NASA's Double Asteroid Redirection Test (DART), which successfully impacted the Didymos asteroid system in September 2022.
Redwire's Belgian subsidiary developed the third generation Advanced Data and Power Management System (ADPMS-3) for Hera. This onboard computer will control vital spacecraft operations, including power, navigation, and data transmission. It will play a important role in major mission milestones, such as deploying ESA's two deep-space CubeSats and the spacecraft's final orbital insertion at Didymos.
The Hera mission, set to launch in October 2024 on a SpaceX Falcon 9, adds to Redwire's growing portfolio of space solutions for scientific discovery and planetary defense efforts.
Redwire (NYSE: RDW), a leading space infrastructure company, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9, 2024, with Redwire's Chief Financial Officer Jonathan Baliff set to present at 9:00 a.m. ET.
This conference provides Redwire an opportunity to showcase its role in the next generation space economy to potential investors and industry professionals. Interested parties can access the presentation via a live webcast, available at the provided web address. This event underscores Redwire's commitment to engaging with the investment community and highlighting its position in the evolving space sector.
Redwire (NYSE: RDW), a leader in space infrastructure, has joined the U.S.-U.A.E. Business Council to foster collaboration with the Emirati space sector. The company has already contributed to U.A.E.'s space endeavors, including the deployment of Redwire-built Roll-Out Solar Arrays on the International Space Station and bioprinting the first human knee meniscus in space.
Redwire's Chief Growth Officer, Mike Gold, praised the U.A.E.'s rapid progress in space exploration and policy leadership. The U.S.-U.A.E. Business Council welcomed Redwire, emphasizing the company's innovative contributions to space infrastructure. This membership aims to expand Redwire's presence in the Middle East and enhance U.S.-U.A.E. collaboration in the growing space sector.
Redwire (NYSE: RDW) has completed its acquisition of Hera Systems, a spacecraft development company specializing in national security space missions. This strategic move expands Redwire's capabilities in geostationary orbit (GEO) and strengthens its position in the national security space sector. Hera Systems reported $15 million in revenue for 2023, contributing to Redwire's growth. As a result, Redwire has adjusted its 2024 revenue guidance from $300 million to $310 million. The acquisition aligns with Redwire's goal of becoming a leading provider for proliferated GEO constellations and enhances its ability to offer mission-critical capabilities to national security customers.
Redwire (NYSE: RDW) has been selected to deliver radio frequency (RF) payloads for a satellite constellation for a leading European defense contractor. This contract expands Redwire's RF offerings to overseas markets. The company will provide multiple shipsets of RF payloads and control electronics, manufactured and tested at their expanded Longmont, Colorado facility.
Redwire is a world leader in antenna production, having delivered over 50 flight antennas with 180+ more in development. The company recently achieved a milestone with the first-ever transmission of a Link 16 signal from space using their antenna. This new contract leverages Redwire's expertise in antenna and RF systems development, as well as their investments in advanced manufacturing and testing capabilities.
Redwire (NYSE: RDW), a leader in space infrastructure, has announced its participation in the Jefferies Industrials Conference on September 4, 2024. The company's Chairman and CEO, Peter Cannito, along with CFO Jonathan Baliff, will deliver a presentation from 7:30-8:00 a.m. ET.
This event provides an opportunity for investors and industry professionals to gain insights into Redwire's operations and future plans. The presentation will be accessible via a live webcast, allowing interested parties to tune in remotely. This announcement underscores Redwire's commitment to transparency and engagement with the financial community, potentially impacting investor interest and stock performance.
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