Financial Data and Key Metrics Changes - Redwire recorded revenue of $61.8 million, showing a sequential increase, but faced a sequential decrease in adjusted EBITDA from negative $2.3 million to negative $27.4 million due to unfavorable estimated at completion (EAC) changes [24][25]. - The net loss decreased sequentially to negative $97 million, influenced by EACs, non-cash expenses, and transaction costs [25][26]. - Total liquidity reached a record level of $113.6 million, a 27.4% improvement from the previous quarter and a 103.4% year-over-year increase [26][27]. Business Line Data and Key Metrics Changes - The acquisition of Edge Autonomy was completed, enhancing Redwire's capabilities in multi-domain operations and contributing to a backlog of $329.5 million as of June 30, 2025 [15][22]. - The Stalker platform was added to the Defense Innovation Unit's UAS Blue List, facilitating easier access to U.S. government contracts [7][62]. - The U.S. Army's Long Range Reconnaissance Program (LRR) has an estimated funding of $325 million for fiscal year 2026, positioning Redwire Edge Autonomy favorably for participation [10][83]. Market Data and Key Metrics Changes - The U.S. government is funding key programs, including approximately $24 billion for the Golden Dome and $2.6 billion for NASA Gateway, indicating significant growth potential for Redwire [18][21]. - NATO allies committed to invest 5% of GDP annually in defense spending, which could benefit Redwire's operations in Europe [20][21]. Company Strategy and Development Direction - Redwire's growth strategy focuses on five key principles: providing foundational products, delivering multi-domain platforms, exploring new markets, unlocking breakthrough technologies, and executing accretive M&A [5][6]. - The creation of SpaceMD aims to commercialize drug development in space, leveraging microgravity for innovative therapeutics [36][39]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the U.S. government budgeting process, which has delayed some contract awards into 2026, but noted positive trends in funding opportunities [17][21]. - The company remains optimistic about future growth, despite setbacks in adjusted EBITDA, emphasizing the long-term nature of space investments [40][41]. Other Important Information - Redwire's contract awards during 2025 totaled $90.6 million, with a book-to-bill ratio of 1.47 times, indicating a strong pipeline of opportunities [22]. - The acquisition of Edge Autonomy is expected to lower the proportion of business exposed to EAC volatility, enhancing financial stability [34][50]. Q&A Session Summary Question: How does the company balance accounting controls and engineering complexity? - Management explained that EACs introduce volatility during development phases, and a complete portfolio review was conducted to understand these dynamics before reinstating EBITDA guidance [46][48]. Question: What was the due diligence process for the Edge Autonomy acquisition? - The acquisition was based on unique technologies and expected free cash flow positivity, with Edge Autonomy showing strong financial results during due diligence [52][53]. Question: What is the impact of the Blue List inclusion for Edge Autonomy? - Inclusion on the Blue List enhances credibility and simplifies procurement processes for federal agencies, making it easier to compete for contracts [62][63]. Question: What is the expected margin profile going forward? - Management indicated that while EACs were taken conservatively, future cash flow and margins are expected to improve as projects progress [81]. Question: What is the funding status for the LRR program? - The $325 million funding is for fiscal year 2026, with expectations for prompt execution due to the administration's focus on UAS dominance [83][87].

Financial Performance & Outlook - Redwire reported Q2 2025 revenue of $61.8 million, including $5.9 million from Edge Autonomy[61] - The company's net loss for Q2 2025 was $(97.0) million, which includes over $90 million in non-cash, transaction-related, EAC impact, and non-recurring activity[61] - Adjusted EBITDA for Q2 2025 was $(27.4) million, impacted by a net unfavorable EAC change of $25.2 million[61] - Total liquidity as of June 30, 2025, was $113.6 million, including $76.5 million in cash and cash equivalents[61] - Redwire forecasts full-year 2025 revenue to be between $385 million and $445 million, including Edge Autonomy from the date of close[70] - Including Edge Autonomy from January 1, 2025, the company forecasts revenue between $470 million and $530 million for the full year 2025[70] Backlog and Pipeline - The company's contracted backlog increased from $291 million as of March 31, 2025, to $329 million as of June 30, 2025[55] - The total pipeline as of June 30, 2025, is over $11 billion[55] - Q2 2025 contract awards totaled $90.6 million, resulting in a book-to-bill ratio of 1.47x[55] Strategic Initiatives - Redwire successfully completed the first deployment test for one of its ROSA wings for the lunar Gateway's Power and Propulsion Element, which will generate 60kW[33] - Stalker UAS was added to the DoD's Blue List of approved drones during Q2 2025[37] - Redwire was awarded a prototype phase agreement by the U S Army to develop and deliver Stalker UAS for the LRR program[39]

Core Viewpoint - Redwire Corporation is proceeding with its acquisition of Edge Autonomy, which has positively impacted its stock price, reflecting investor confidence in the deal [1]. Group 1: Acquisition Details - Redwire announced plans to acquire Edge Autonomy for $925 million, consisting of $150 million in cash and $775 million in Redwire stock [2]. - The acquisition terms have been slightly modified, with the cash portion increasing to $160 million and the stock portion decreasing to $765 million. Additionally, $100 million of the cash will be in the form of an unsecured promissory note from a Redwire subsidiary [4]. Group 2: Stock Performance and Valuation - Following the acquisition announcement, Redwire's stock price increased from less than $15 to nearly $20, indicating a significant rise in market valuation [5]. - The shares being issued to Edge Autonomy are valued at approximately $20, which is higher than the initial expected value of less than $15, resulting in a profitable situation for Edge's owners [5]. - The adjustment in payment structure, favoring cash over stock, is viewed as modestly positive for Redwire's stock, contributing to a 7% increase in share price [6].

Financial Data and Key Metrics Changes - Redwire recorded revenues of $61.4 million, a decrease both sequentially and year-over-year [24] - Adjusted EBITDA improved significantly from a negative $9.2 million in Q4 2024 to a negative $2.3 million in Q1 2025 [25] - The net loss was $2.9 million, showing a significant sequential improvement of over $60 million [26] - Total liquidity reached $89.2 million, a 39.2% improvement from $64.1 million at the end of the previous year [26] Business Line Data and Key Metrics Changes - Contract awards in Q1 2025 were $56.2 million with a book-to-bill ratio of 0.92x, showing significant improvement [19] - Backlog remained relatively flat at $291.2 million as of March 31, 2025, with $107.2 million from international operations in Europe [20] - The company saw a shift in revenue due to delays in awards across customer classes, particularly in the U.S. market [24][20] Market Data and Key Metrics Changes - The company noted notable delays in awards in the U.S. Government market due to transitions in key decision-makers and budget uncertainties [20] - Redwire's contract awards included key wins from the European market, indicating a strong pipeline with an estimated $6 billion of identified opportunities [21] Company Strategy and Development Direction - Redwire's 2025 growth strategy focuses on five key principles: providing foundational products, delivering multi-domain platforms, exploring space missions, unlocking venture optionality, and executing accretive M&A [5][6] - The company aims to capitalize on increased investment in U.S. manufacturing and European space and defense budgets [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future U.S. National security space and defense budgets despite current delays [21] - The company reaffirmed its combined revenue forecast for 2025 to be in the range of $535 million to $605 million, representing a 52.9% compound annual growth rate from FY 2023 to FY 2025 [29] Other Important Information - Redwire signed an agreement to acquire Edge Autonomy, expected to close in Q2 2025, which will enhance its capabilities in multi-domain autonomous technology [14] - The company launched new drug development technology and a cancer detection experiment to the International Space Station, expanding its in-space pharmaceutical development [11] Q&A Session Summary Question: Can you talk about the risks associated with Europe's increased independence in space and defense? - Management noted that Europe is investing more in independent national programs for space, which could create new opportunities despite potential shifts in funding [40] Question: What is the current state of U.S. Government programs and their impact on Redwire? - Management indicated that the U.S. market is dynamic, with some programs being deprioritized while others, like Golden Dome, are highly prioritized [44] Question: How does Redwire view the role of drones in defense spending? - Management highlighted that drones are seen as a critical force multiplier in combat, with expected growth in defense spending in both the U.S. and Europe [50] Question: Can you elaborate on the milestones to watch for the MOU with iSpace? - Management emphasized that Redwire is a prime contractor on the CLIPS contract and is excited about taking on larger roles in lunar missions [55] Question: What is the current pipeline status and expected cash flow for Redwire? - Management stated that they expect cash flow to improve as revenues from bids are realized and milestone payments are received [70]

Financial Data and Key Metrics Changes - Redwire recorded revenues of $61.4 million, a decrease both sequentially and year-over-year [23] - Adjusted EBITDA improved sequentially from a negative $9.2 million in Q4 2024 to a negative $2.3 million in Q1 2025 [24] - The net loss was $2.9 million, showing a significant sequential improvement of over $60 million [25] - Total liquidity reached $89.2 million, a 39.2% improvement from $64.1 million at the end of the previous year [25] Business Line Data and Key Metrics Changes - Contract awards in Q1 2025 were $56.2 million with a book-to-bill ratio of 0.92x, showing significant improvement [18] - Backlog remained relatively flat at $291.2 million as of March 31, 2025, with 37% or $107.2 million from international operations in Europe [19] - The company saw key wins in the European market, including contracts for the International Birthing and Docking Mechanism and the Arrakis mission study [19] Market Data and Key Metrics Changes - The company noted delays in awards in the U.S. Government market due to transitions in key decision-makers and budget uncertainties [19] - There is an estimated $6 billion of identified opportunities in the pipeline, with approximately $5 billion in proposals submitted during Q1 2025 [20] Company Strategy and Development Direction - Redwire's 2025 growth strategy focuses on five key principles: providing foundational products, delivering multi-domain platforms, exploring lunar and Martian missions, unlocking venture optionality, and executing accretive M&A [4][5] - The company aims to capitalize on increased European independence in space and defense, while also addressing U.S. defense spending pressures [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future U.S. National security space and defense budgets despite current delays [20] - The company reaffirmed its combined revenue forecast for 2025 to be in the range of $535 million to $605 million, representing a 52.9% compound annual growth rate from FY 2023 to FY 2025 [28] Other Important Information - Redwire's supply chain is resilient, with a U.S.-based supply chain for domestic customers and a European-based supply chain for international clients, mitigating tariff impacts [14] - The company is actively pursuing multiple opportunities related to the Golden Dome defense initiative [17] Q&A Session Summary Question: Risks associated with Europe's increased independence in Space and Defense - Management acknowledged that Europe is investing more in independent space programs, which could create new opportunities despite potential shifts in U.S.-European partnerships [36][38] Question: Changes in U.S. Government program prioritization - Management noted that the current environment is dynamic, with some programs being deprioritized while others, like Golden Dome, are prioritized [40] Question: Edge Autonomy acquisition and its impact - Management highlighted that drones are becoming a significant part of defense spending, particularly in the U.S. and European markets, and Edge Autonomy will enhance capabilities in this area [46][48] Question: Details on Edge Autonomy's performance and pipeline - Management refrained from disclosing specific Q1 performance metrics for Edge but noted an increase in its backlog to $99.4 million [57] Question: Future deals focus between space and unmanned systems - Management indicated a balanced approach, being opportunistic across both segments while ensuring acquisitions are accretive [90][92]

Q1 2025 Investor Presentation May 12, 2025 No Solicitation This Presentation is not intended to and does not constitute the solicitation of a vote with respect to any matter subject to the vote of Redwire's stockholders, which solicitation is made solely pursuant to a definitive proxy statement, nor does it constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities in any jurisdiction. Use of Data Industry and market data ...

Financial Data and Key Metrics Changes - Redwire achieved a record annual revenue of $304.1 million in 2024, reflecting a year-over-year increase of 24.7% [9][14] - The company recorded an adjusted EBITDA loss of $0.8 million for the full year 2024, with a negative adjusted EBITDA of $9.2 million in Q4 2024 due to unfavorable net EAC adjustments [15][16] - Total liquidity at the end of 2024 was $64.1 million, which included $48.7 million in available liquidity and $15.4 million in restricted cash [21] Business Line Data and Key Metrics Changes - Redwire executed programs for over 100 customers, with more than 85% of revenues coming from government and marquee customers, indicating strong revenue diversity [8] - The company launched over 70 products and solutions across 15 launches in 2024, showcasing its innovation and market presence [9] - The number of ROSA arrays under contract increased by 23.8% year-over-year, demonstrating growth in production capabilities [6] Market Data and Key Metrics Changes - Redwire's contract awards for 2024 totaled $229.8 million, with a book-to-bill ratio of 0.76 times, and a backlog of $296.7 million at year-end [10] - The company submitted approximately $4.1 billion in proposals during 2024, representing a significant increase of 334.3% over the previous year [11] Company Strategy and Development Direction - Redwire's 2025 growth strategy focuses on five key principles: providing foundational products, delivering multi-domain platforms, exploring lunar and Martian missions, advancing breakthrough technologies, and executing accretive M&A [25][26] - The acquisition of Edge Autonomy is expected to transform Redwire into a leader in multi-domain autonomous technology, enhancing its portfolio and competitive positioning [36][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for 2025, highlighting robust revenue growth, cost control, and ample liquidity despite challenges faced in 2024 [24][49] - The company anticipates that the combination with Edge Autonomy will significantly increase operating leverage and cash flow, projecting combined revenue for 2025 to be between $535 million and $605 million [45][47] Other Important Information - Redwire's net loss in 2024 was impacted by significant non-routine activities, including a $49.9 million increase in non-cash warrant liability fair value adjustments and a $14.2 million increase in net unfavorable EAC impacts [22][23] - The company is well-positioned to capitalize on European defense budgets, with 50.6% of its revenue in 2024 derived from European customers, marking a 117.1% increase from 2023 [132] Q&A Session Summary Question: Insights on underlying Redwire organic growth - Management indicated that Redwire has historically grown between 15% and 25% organically, while Edge Autonomy has seen organic growth between 20% and 30% [54][55] Question: Potential benefits from combining businesses - Management acknowledged that the guidance does not include revenue synergies, but there are opportunities for cross-selling and consolidating manufacturing capabilities [68][70] Question: Changes in Ukraine-related revenue expectations - Management took a conservative approach to forecasting Edge's revenue related to Ukraine, noting potential opportunities for peacekeeping drone technology regardless of the conflict's outcome [85][86] Question: Competitive landscape for larger programs - Management noted that while competitors may change, Redwire's strategy is selective in pursuing prime contracts where there is no clear leader [92] Question: Update on share count post-warrant redemption - The total share count as of the last update was 75,573,294 shares [96] Question: Context around bookings and contract award cycles - Management acknowledged that the current book-to-bill ratio is below one but emphasized that this is largely a timing issue rather than a fundamental change in the procurement landscape [99][102]

2024 Results and Growth Strategies - Redwire delivered 186 sensors in 2024, including sun sensors, star trackers, and cameras[25] - The company scaled production with a 23.8% year-over-year increase in ROSA wings under contract to 26 arrays as of December 31, 2024[28] - Redwire launched 27 PIL-BOXes for partners during 2024[31] - The company executed for more than 100 customers during 2024, with over 85% of revenues from Government and Marquee customers[32] - Redwire achieved robust revenue growth of 24.7% year-over-year, reaching $304.1 million in 2024[36, 38] Financial Performance and Outlook - Redwire's contracted backlog was $296.652 million as of December 31, 2024[41, 101] - The company's FY2024 book-to-bill ratio was 0.76x[41] - Redwire reported a net loss of $(114.3) million in FY2024, including a $52.0 million loss associated with the change in fair value of warrant liabilities[44] - The company's Adjusted EBITDA was $(0.8) million in FY2024, including a net unfavorable impact from EAC changes of $17.7 million[44] - Redwire is affirming forecasted FY2025 combined revenues of $535-$605 million and Adjusted EBITDA of $70-$105 million[45] Acquisition and Future Strategy - Redwire announced the acquisition of Edge Autonomy, expected to close in the second quarter of 2025[69] - The company aims to be a leader in multi-domain defense technology platforms[72]