Redwire builds spacecraft, space infrastructure, power systems, avionics, microgravity research hardware, tactical uncrewed aircraft and intelligence, surveillance and reconnaissance payloads. Its business is organized into two operating segments: Space and Defense Tech.
The Space segment supplies spacecraft platforms, solar arrays, structures, guidance, navigation and control hardware, radio-frequency systems, digital engineering and microgravity platforms for civil, national-security and commercial missions. Defense Tech supplies Stalker and Penguin uncrewed aircraft, Octopus electro-optical and infrared payloads, energy systems and related autonomous mission capabilities. Redwire retired the Edge Autonomy brand in January 2026 and folded those products into Redwire Defense Tech.
Redwire markets six spacecraft families spanning very low Earth orbit through geosynchronous and cislunar missions: VLEO, Thresher, SabreSat, Phantom, Mako and Hammerhead. SabreSat is Redwire's highly maneuverable very-low-Earth-orbit platform and is being developed for missions including DARPA's Otter program. Mako is a high-agility, radiation-hardened GEO/MEO platform designed for rendezvous and proximity operations. Hammerhead is a versatile low-Earth-orbit platform with heritage in European Space Agency missions.
Redwire's Roll-Out Solar Array (ROSA) family supplies deployable power for spacecraft, including International Space Station Roll-Out Solar Arrays and other civil and commercial missions. In March 2026 Redwire introduced the Extensible Low-Profile Solar Array (ELSA), a standardized, lower-mass product intended for higher-volume satellite production. Moog placed the first ELSA order under a $12.8 million contract for its METEOR bus supporting an undisclosed national-security mission.
Redwire supplies star trackers, sun sensors, cameras, guidance, navigation and control components, radio-frequency systems, antennas, satellite payloads, launch accommodations, deployment mechanisms and the International Berthing and Docking Mechanism. Its tactical communications work also supports defense-space architectures such as the Proliferated Warfighter Space Architecture.
The Digital Engineering Enterprise provides modeling and simulation, digital twins, hardware-in-the-loop testing, mesh-network and hybrid-architecture analysis, radio-frequency phenomenology characterization and flight-software development for space and multi-domain missions. Acorn 2.0 is Redwire's AI-enabled, agent-based modeling and simulation platform for mission design, cyber and test ranges, spacecraft communications, meshed networks, multi-domain operations and supply-chain digital twins.
Redwire's Stalker family includes Stalker Block 30 and Stalker Block 40 variants. The aircraft are long-endurance Group 2 uncrewed systems used for intelligence, surveillance, reconnaissance and target acquisition. In 2026 the U.S. Marine Corps ordered Advanced Navigation and standard Stalker systems, while the U.S. Army awarded a separate $15.857 million contract for eight Stalker Block 35 systems and a $15 million follow-on training order through the Army Aviation Center of Excellence.
The Penguin family includes Penguin Mk2X, Penguin Mk2.5 VTOL and Penguin Mk3 VTOL. Redwire announced a multi-year Penguin Mk3 contract for a NATO country in May 2026 and a Penguin Mk2.5 award for the Taiwan Coast Guard in June 2026.
Redwire's Octopus gimbal portfolio includes the E95, E140LC, E140Z G2, E140 MWIR and E180 families. At Eurosatory 2026 the company unveiled an upgraded E140 MWIR electro-optical/infrared payload and announced the E180 HD MWIR, adding 4K high-definition imaging to the larger payload class.
SpaceMD commercializes Redwire's microgravity pharmaceutical and biotechnology capabilities. Its Pharmaceutical In-space Laboratory, or PIL-BOX, is used for protein crystallization and drug-development experiments on the International Space Station. By July 2026 Redwire reported 54 PIL-BOX systems flown and 45 unique compounds crystallized. Related platforms include the BioFabrication Facility and other microgravity research systems.
Redwire's Greenhouse is a commercial plant-growth platform for orbital agriculture research. A June 2026 contract with Astrobiome Space is scheduled to use the system to grow strawberries and test a soil-enhancement product aboard the International Space Station. The platform builds on Redwire's Passive Orbital Nutrient Delivery System and Advanced Plant Habitat operating heritage.
Redwire also supplies propane-powered fuel cells and energy components through its Endurance and Performer product families. These systems support redundant and austere power requirements across aviation, monitoring, rail and uncrewed-system applications.
Redwire was founded in 2020 by AE Industrial Partners as a consolidation platform for space businesses with operating heritage that reaches back decades. Its early acquisitions included Adcole Space, Deep Space Systems, Made In Space and Roccor. Redwire became publicly traded in 2021 through a business combination with Genesis Park Acquisition Corp., which was renamed Redwire Corporation.
The company continued to expand through acquisitions, including Hera Systems in 2024 and Edge Autonomy in 2025. The Edge transaction closed on 13-JUN-2025 for $160 million in cash plus 49,764,847 Redwire common shares, adding tactical uncrewed aircraft, electro-optical and infrared payloads and energy systems. Redwire formed SpaceMD in 2025 to commercialize microgravity pharmaceutical development.
On 13-JAN-2026 Redwire sunset the Edge Autonomy brand and reorganized into two operating segments. Mike Gold leads Redwire Space and Steve Adlich leads Redwire Defense Tech. The change made the defense-UAS portfolio a core Redwire business rather than a separately branded acquisition.
Redwire reported $97.0 million of Q1 2026 revenue, up 57.9% from $61.4 million a year earlier, with a 26.6% GAAP gross margin. Contracted backlog reached a record $498.1 million and quarterly book-to-bill was 1.92. The company reaffirmed FY2026 revenue guidance of $450 million to $500 million.
Growth is being driven by a larger defense mix after the Edge Autonomy acquisition, recurring Stalker and Penguin demand, expansion of spacecraft platforms and power systems, European national-security space work and new microgravity applications through SpaceMD. Q1 net loss was $76.5 million, including more than $44 million of non-recurring activity, primarily $42.5 million of equity-based compensation associated with accelerated vesting from the Edge transaction.
At 31-MAR-2026 Redwire held $144.5 million of cash and cash equivalents plus $0.7 million of restricted cash. Total liquidity was $175.2 million. On 09-JUN-2026 the company established an at-the-market equity program authorizing sales of up to $500 million of common stock. On 30-JUN-2026 it increased its revolving credit facility from $30 million to $50 million and prepaid $40 million of term loans, reducing term-loan principal to $50 million.
| Filed | Form | Description | Link |
|---|---|---|---|
| 14-JUL-2026 | 8-K | Gregory L. Heston appointed to the board and Audit Committee. | View → |
| 01-JUL-2026 | 8-K | Revolver increased from $30M to $50M; $40M term-loan prepayment reduced term loans to $50M. | View → |
| 09-JUN-2026 | 8-K / 424B5 | New at-the-market equity program authorizing sales of up to $500M of common stock. | View → |
| 07-MAY-2026 | 10-Q | Quarter ended 31-MAR-2026: $97.0M revenue, 26.6% gross margin, $498.1M backlog and $175.2M liquidity. | View → |
| 27-FEB-2026 | 10-K | FY2025 annual report, acquisition history, risks and segment disclosures. | View → |
| Date | Awarding Body | Program / Scope | Value | Status |
|---|---|---|---|---|
| 15-JUL-2026 | PAE RAS / DLA vehicle | Follow-on Stalker Advanced Navigation and standard systems; ADS served as prime. | $21.5M | Awarded |
| 30-JUN-2026 | Taiwan Coast Guard | Penguin Mk2.5 VTOL uncrewed aerial system. | Undisclosed | Awarded |
| 03-JUN-2026 | U.S. Army | Eight Stalker Block 35 systems for reconnaissance, surveillance and target acquisition. | $15.857M | Awarded |
| 20-MAY-2026 | U.S. Army AVCOE | Follow-on Stalker UAS order supporting Advanced Individual Training. | $15M | Awarded |
| 08-APR-2026 | U.S. Space Force | Andromeda multiple-award IDIQ for advanced spacecraft. Redwire is one of 14 awardees. | $1.843B shared ceiling | IDIQ |
| 24-MAR-2026 | Moog / national-security customer | First ELSA solar-array order for Moog METEOR spacecraft bus. | $12.8M | Awarded |
| 16-MAR-2026 | Belgian Defence | MATTEO national-security satellite, developed with Aerospacelab. | Undisclosed | Awarded |
| Date | Insider / Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 14-JUL-2026 | Chris Edmunds · CFO | Performance RSU award | 76,364 target units | $0 | Compensation award |
| 11-JUL-2026 | Peter Cannito · Chairman & CEO | Tax withholding | 25,369 | $10.18 reference | Not open-market sale |
| 03-JUL-2026 | Mike Gold · President, Space | Tax withholding | 8,122 | $11.31 reference | Not open-market sale |
| 03-JUL-2026 | Chris Edmunds · CFO | Tax withholding | 2,522 | $11.31 reference | Not open-market sale |
Redwire's strategic shift is now visible in the numbers: defense-UAS demand is contributing to faster revenue growth while the legacy space portfolio is adding higher-volume products such as ELSA and a broader spacecraft-platform family. The question is no longer whether Redwire has enough markets to pursue. It is whether management can convert a much larger portfolio and backlog into durable margins without leaning too heavily on equity issuance.
Near-term upside drivers are backlog conversion, allied demand for tactical uncrewed aircraft, the transition of spacecraft programs into production, ELSA adoption and commercialization of microgravity research through SpaceMD. The company has reaffirmed FY2026 revenue guidance of $450 million to $500 million, but it remains GAAP-loss-making and is still integrating a large acquisition completed only in June 2025.
The June 2026 ATM authorization materially increases financing flexibility but also creates dilution risk. The June credit amendment lowered term-loan principal while expanding revolving capacity, improving near-term balance-sheet flexibility. Investors and defense-industry analysts should watch Q2 and Q3 gross margin, backlog conversion, Stalker production cadence and how much of the ATM authorization is actually used.
Redwire's strongest advantage is breadth with real flight and field heritage. The company can sell complete spacecraft, power systems, avionics, structures, tactical aircraft, ISR payloads and microgravity platforms rather than relying on one launch vehicle or one flagship program. That broad catalog can create cross-selling opportunities and lets Redwire participate in both civil-space and defense procurement cycles.
The moat is strongest where heritage matters: deployable power, guidance sensors, European spacecraft programs, ISS microgravity systems and fielded Stalker and Penguin aircraft. It is weaker in areas where scale manufacturing and software-defined autonomy dominate. Redwire therefore competes less like a single-product disruptor and more like a mid-tier aerospace platform company trying to combine specialized technology businesses into a coherent production system.
Material risks include continuing GAAP losses, dilution from equity issuance, execution on fixed-price programs, integration of Edge Autonomy, customer concentration, government budget timing, supply-chain constraints, export-control compliance and the challenge of moving development programs into profitable production. The company also disclosed material weaknesses in internal control over financial reporting in its FY2025 risk factors.
Backlog is not guaranteed revenue. Government contracts can be modified, terminated or funded incrementally, and international backlog is exposed to foreign-exchange translation. Redwire also competes with larger defense primes and better-capitalized space companies while simultaneously trying to scale production across multiple product families.
Government demand is a major source of revenue and backlog. The portfolio is diversified across NASA, the Department of Defense, European agencies, allied governments and commercial customers, but a slowdown in U.S. or allied procurement would still materially affect growth. The strongest near-term concentration is not a single named customer but the broader dependence on government-funded aerospace and defense programs.