Redwire Q3 Revenue Rises 5.4% to $109 Million: Record 32.3% Gross Margin and $619.7 Million Backlog
Redwire Corporation (NYSE: RDW), the space and defense technology company headquartered in Jacksonville, Duval County, Florida, on November 4 announced results for its third quarter ended September 30, 2026, with record backlog and record gross margins.
Revenues increased 5.4% year over year to $109.0 million. Gross margin improved to a record 32.3%, compared with 16.3% a year earlier. Net loss improved by $18.0 million to $23.2 million, and diluted EPS improved by $0.20 to $(0.09). Adjusted EBITDA was $(5.3) million, as research and development expense rose 87.1% year over year in what the company called investment in future growth.
The company was awarded $188.7 million in contracts during the quarter, taking its quarterly book-to-bill to 1.73, and ended the quarter with record backlog of $619.7 million, up nearly 75% year over year. Total liquidity was $538.9 million, a 313.9% increase over the end of 2025.
During the quarter, Redwire was awarded a $20 million contract from the Defense Advanced Research Projects Agency (DARPA) for additional testing of its SabreSat spacecraft ahead of a precursor flight test in very low Earth orbit, and received a follow-on contract from Axiom Space to develop and deliver two Roll-Out Solar Array (ROSA) wings for Axiom's second space station module. After the quarter ended, the company launched key technologies to the International Space Station, including four microgravity investigations and the fourth and final pair of ROSA arrays, completing a historic power modernization effort.
Redwire reaffirmed its full-year 2026 revenue forecast of $450 million to $500 million. "Redwire continued to see durable demand across our space and defense tech portfolio during the third quarter, as evidenced by our record backlog of $619.7 million, a nearly 75% increase year-over-year, and book-to-bill increasing to 1.73," said Peter Cannito, Chairman, CEO and President. (Source: Redwire)
Source: Redwire
Published by GSM · USA (original Chinese edition)
Photo: 图：国际空间站上的展开式太阳能阵列（ROSA）；Redwire 本季获 Axiom Space 后续合同，为其第二个空间站舱段研制交付两套 ROSA 翼。NASA 图，公共领域，经 Wikimedia Commons。 / Photo: A Roll-Out Solar Array (ROSA) on the International Space Station; Redwire received a follow-on contract this quarter to develop and deliver two ROSA wings for Axiom Space's second station module. NASA photo, public domain, via Wikimedia Commons.
