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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 Corporation (NYSE: RDW) announced the launch of the first commercially owned and operated plant growth platform for space, named Redwire Greenhouse, set for spring 2023. This initiative aims to grow plants from seed to maturity aboard the International Space Station (ISS). Partnering with Dewey Scientific, the inaugural flight will involve a gene expression study using industrial hemp. The greenhouse supports NASA's long-term plans and advances capabilities for future space exploration, promising critical insights into crop production in space.
Redwire Corporation (NYSE: RDW) reported a 14.2% year-over-year revenue increase, reaching $36.7 million for Q2 2022, driven by successful contract delivery and operational successes. However, a net loss of $(77.0) million, primarily due to an $80.5 million non-cash impairment charge, significantly impacted overall performance. The company expects revenue between $165 million and $175 million for FY 2022, with a forecast of positive Adjusted EBITDA in the latter half of the year. Notably, Redwire's book-to-bill ratio of 1.68 signals strong future prospects.
Redwire Corporation (NYSE: RDW) is set to announce its financial results for the second quarter ending June 30, 2022, at 7 a.m. ET on Wednesday, August 10, 2022. A conference call to discuss these results will follow at 9 a.m. ET, accessible via phone at 877-485-3108 (toll-free) or 201-689-8264 (toll). A live presentation will be available online. For those unable to attend, a replay will be accessible for two weeks. Redwire is a leader in space infrastructure, focusing on solar power and in-space manufacturing.
Redwire Corporation (NYSE: RDW) is developing an innovative platform called PIL-BOX to manufacture protein-based pharmaceuticals in microgravity. Partnering with Eli Lilly, the PIL-BOX project aims to optimize crystal growth of key medical compounds. This collaboration could enhance drug development processes, particularly for diabetes and cardiovascular treatments. Redwire leverages its extensive space manufacturing expertise to create valuable solutions for pharmaceutical challenges. The PIL-BOX is supported by NASA through its In Space Production Applications program.
Redwire Corporation (NYSE: RDW) announced its inclusion in the Russell 3000 Index, effective June 27, enhancing its visibility in the investment community. The Chairman and CEO, Peter Cannito, emphasized this milestone reflects Redwire's growth and position as a leader in space infrastructure. Membership in the Russell 3000 also ensures automatic inclusion in either the Russell 1000 or Russell 2000 Index. FTSE Russell's indexes are benchmarked by approximately $12 trillion in assets, indicating significant market impact.
Redwire Corporation (NYSE: RDW) has successfully delivered the second pair of International Space Station Rolls-Out Solar Arrays (iROSA) to Boeing. This on-time delivery follows rigorous testing, and the arrays will soon launch on a commercial resupply flight to the ISS. Under contract with Boeing, Redwire is set to deliver six iROSA units that will enhance the ISS's power supply by 20-30%. Each array utilizes advanced solar cells, providing over 28 kilowatts of power, significantly boosting the ISS's capabilities. This technology supports various government and commercial space applications.
Redwire Corporation (NYSE: RDW) announced the first sale of its space-manufactured optical crystal to researchers at The Ohio State University's CEMAS. The sale involved two grams of crystal valued at about $2 million per kilogram. This marks a significant milestone for space commercialization, as it showcases the potential of in-space manufacturing. The optical crystals could enhance high-power laser systems on Earth due to fewer defects compared to Earth-manufactured crystals. This achievement highlights Redwire's commitment to expanding production capabilities in low-Earth orbit.
Redwire Corporation (NYSE: RDW) has secured a contract to deliver 42 high gain antennas for a national security customer's low-Earth orbit satellite constellation. The antennas, which enhance beyond line-of-sight communications, are scheduled for delivery within 18 months. The production will take place at Redwire's Longmont, Colorado facility, which can produce over 120 antennas. This builds on Redwire's previous success in delivering antennas for the initial phase, underscoring their commitment to advanced antenna technology for national security applications.
Redwire Corporation (NYSE: RDW) will host a ribbon-cutting ceremony on May 19 at its facility in Luxembourg City. The event will feature a tour of the laboratories, technology displays, and speeches from key figures including Luxembourg’s Minister of Economy Franz Fayot and U.S. Ambassador to Luxembourg Thomas Barrett. Redwire specializes in developing robotic arms for various space missions, including satellite life extension and lunar operations. Media are invited to RSVP to Austin Jordan at austin.jordan@redwirespace.com.
Redwire Corporation (NYSE: RDW) reported Q1 2022 revenue of $32.9 million, a 3.7% increase from $31.7 million year-over-year. However, the company faced a net loss of $(17.3) million and an Adjusted EBITDA of $(4.7) million. Challenges included delays in contract awards and supply chain issues. The total backlog stood at $273.9 million, and the firm secured contracts for multiple high gain antenna systems and was awarded a position on a $950 million IDIQ contract for the U.S. Air Force. The company has over $30 million in liquidity, indicating a strong capital position.
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