Redwire reports 58% revenue growth to $96.97 million and a $498.08 million backlog, driven by defense and space contracts.
Redwire (NYSE:RDW) shares climbed 190% year to date after securing a $1.8 billion Andromeda IDIQ contract and a $15 million U.S. Army order. The stock hit a 52-week high of $23.10, reflecting strong demand for its satellite and defense technologies.
Q1 FY2026 revenue rose 57.95% year over year to $96.97 million, with gross margins expanding to 26.6%. Backlog reached a record $498.08 million, supported by a 1.92 book-to-bill ratio. Management reaffirmed FY2026 revenue guidance of $450 million to $500 million.
Despite the gains, Redwire posted a $76.5 million net loss in Q1, highlighting ongoing profitability challenges amid rapid growth.