Redwire Corporation (RDW) Earnings
Redwire Corporation is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $-0.19. RDW has beaten EPS estimates in 1 of its last 10 reported quarters (average surprise -139.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.16 | $-0.18 | -12.5% | $97M | -8.5% |
| Feb 26, 2026 | $-0.16 | $-0.50 | -213.9% | $109M | +10.1% |
| Nov 5, 2025 | $-0.12 | $-0.21 | -75.0% | $103M | +4.7% |
| Aug 6, 2025 | $-0.11 | $-0.39 | -254.5% | $62M | -23.3% |
| Mar 10, 2025 | $-0.18 | $-0.66 | -266.7% | $70M | -6.7% |
| Mar 14, 2024 | $-0.15 | $-0.25 | -66.7% | $63M | +2.4% |
| Aug 10, 2022 | $-0.13 | $0.06 | +146.2% | $37M | -0.7% |
| May 12, 2022 | $-0.09 | $-0.24 | -166.7% | $33M | -17.8% |
| Mar 31, 2022 | $-0.05 | $-0.55 | -1000.0% | $41M | +2.7% |
| Oct 4, 2021 | $-0.05 | $-0.55 | -1001.5% | $33M | — |
| Aug 13, 2021 | — | $-0.27 | — | $32M | — |
| May 24, 2021 | — | $-0.13 | — | $32M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Pete outlined key accomplishments in Q1 2026: strong book-to-bill ratio of 1.92, record contracted backlog of $498.1 million, improved gross margin to 26.6%, and accelerated investing in large procurement opportunities. Highlights for each value driver: Space segment - selected for $1.8 billion 10-year Andromeda IDIQ contract, first sale of ELSA solar arrays, received $4 million from NASA for Pillbox. Defense Tech segment - awarded over $20 million in follow-on purchase orders for Stalker systems, continued integration of S.T.A.L.K.E.R. with U.S. Army's NGC-2. Sensors and payloads - advanced imaging and navigation technology launched aboard NASA's Artemis II mission. Also, ramped investment in research and development with over $10 million increase year-over-year in Q1 2026, focusing on six critical opportunities.
Guidance
Reaffirmed full year 2026 revenue forecast in the range of 450 to 500 million, representing 41.6% year-over-year growth at the midpoint. With more than $350 million in bookings during the last two quarters, expect revenue to build through 2026.
Segment performance
In Q1 2026, total revenue was $97 million, a 57.9% year-over-year increase. Space segment revenue was $52.7 million, and defense tech segment revenue was $44.3 million. Gross margin moved from 9.6% in Q4 2025 and 14.7% in Q1 2025 to 26.6% in Q1 2026. Bookings were $186.5 million, with space bookings at $114.6 million (driven by power solutions like ELSA and RosaWings) and defense tech bookings at $72 million (driven by Stalker and Penguin aircraft). Backlog increased to a record $498.1 million, with space backlog at $359.7 million and defense tech backlog at $138.4 million.
Analyst Q&A
Q: About the Andromeda Space Force program, how is Redwire positioned and how will it be targeted with investment?
A: Redwire was selected as one of 14 vendors out of 32 bids, needs to invest to deliver best capability, using ATM to raise money.
Q: Update on VLEO platforms?
A: VLEO is a key growth area, Redwire is well positioned, investing in maturing technology with partners.
Q: Specific layers of Golden Dome architecture Redwire is targeting?
A: Golden Dome is multi-orbit, Redwire is prime lead in VLEO and highly maneuverable refuelable geo, merchant supplier in LEO.
Q: Leveraging the business and expectations around gross margins and OPEX?
A: Goal is positive EBITDA net of IRAD, in quality growth mode, investing but managing IRAD.
Q: What do R&D investments for six opportunities include?
A: Labor, facilities, material, inventory, mix of these.
Q: Biggest opportunities for Redwire in lunar economy?
A: Building lunar grid with ROSA and ELSA, and leveraging CLPS prime contract position.
Q: Edge Autonomy since acquisition?
A: Edge is now fully branded Redwire, defense tech has $72 million bookings this quarter, gross margins holding consistent, ramping investment in major product groups.