Redwire Corporation <\/b>reported a 30% year-over-year decline in revenue in the first quarter of 2025 as leadership reported delays in contract awards from the U.S. government. Redwire reported $61.4 million in revenue in Q1, compared to $87.8 million in the same time last year. <\/p>\n
CEO Peter Cannito told investors on Monday the company saw \u201cnotable delays\u201d from the U.S. government \u201cdue to the transition of key decision makers in NASA, Space Development Agency, and other agencies.\u201d <\/p>\n
\u201cWe believe these delays are temporary, based on analysis of the Presidential budget request that includes funding for key space and defense programs like Golden Dome. We remain optimistic about the future of U.S. national security, space and defense budgets,\u201d Cannito added. <\/p>\n
Redwire also logged $3.1 million of EAC charges during the quarter, which Redwire attributed to additional labor and production costs associated with developing new technologies for customers in its structures and mechanisms and avionics, sensors and payloads infrastructure offerings.<\/p>\n
The company narrowed its net loss during the quarter by $5.1 million. Net loss in Q1 was $2.9 million, as compared to a loss of $8.1 million for the first quarter of 2024.<\/p>\n
Backlog at the end of the first quarter was relatively flat at $291 million. Redwire noted that 37% of its backlog is from international operations in Europe. <\/p>\n
Cannito also addressed tariffs on the Monday investor call, calling the company\u2019s global manufacturing footprint in local markets around the world a \u201cnatural mitigant\u201d against tariffs. He said Redwire is yet to see widespread price increases or shocks due to tariffs and the company is addressing one-off cases with suppliers.<\/p>\n
\u201cIn some instances, we believe that the current trade environment may lead to both increasing investment in U.S. manufacturing and in European space and defense budgets that could benefit Redwire\u2019s significant manufacturing presence in both regions,\u201d Cannito said. <\/p>\n
Redwire reaffirmed its guidance for 2025, forecasting full year revenue of $535 million to $605 million. This forecast includes the acquisition of Edge Autonomy, which has not yet closed yet. In 2024, Redwire reported $304 million in revenue. <\/p>\n
Redwire CFO Jonathan Baliff said the company believes it is still on track to end the year in this range.<\/p>\n
\u201cIn 2025 there has been significant commercial market uncertainty, especially in the U.S. defense and government services sector with the incoming new administration, and both Redwire and Edge Autonomy have seen some of our projected wins slip to the right. We acknowledge that there is volatility with the rest of 2025. However, our previous combined forecast was meant to be conservative.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
Redwire Corporation reported a 30% year-over-year decline in revenue in the first quarter of 2025 as leadership reported delays in contract awards from the U.S. government. Redwire reported $61.4 million in revenue in Q1, compared to $87.8 million in the same time last year. CEO Peter Cannito told investors on Monday the company saw \u201cnotable […]<\/p>\n","protected":false},"author":1,"featured_media":47495,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-49199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/49199"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=49199"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/49199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/47495"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=49199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=49199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=49199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}