Redwire (RDW) financial statements
Redwire reported revenue of $335M in fiscal 2025, up 24.9% a year over 4 years.
Net income was -$227M and the operating margin -68.5%, against -51.0% in 2021.
Free cash flow was -$191M.
The diluted share count rose 165% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Redwire's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $138M | $161M | $244M | $304M | $335M |
| Cost of revenue | $108M | $132M | $186M | $260M | $318M |
| Gross profit | $29M | $29M | $58M | $44M | $17M |
| Research and development | $5M | $5M | $5M | $6M | $20M |
| Selling, general and admin | $79M | $70M | $69M | $71M | $171M |
| Operating income | -$70M | -$146M | -$16M | -$42M | -$230M |
| Interest expense | $6M | $8M | $11M | $13M | $40M |
| Pre-tax income | -$73M | -$139M | -$28M | -$116M | -$252M |
| Income tax | -$11M | -$8M | -$486,000 | -$2M | -$25M |
| Net income | -$62M | -$131M | -$27M | -$114M | -$227M |
| EPS (diluted) | -$1.36 | -$2.09 | -$0.73 | -$2.35 | -$2.28 |
| Diluted shares | 45M | 63M | 65M | 66M | 120M |
| Gross margin | 21.3% | 17.9% | 23.8% | 14.6% | 5.2% |
| Operating margin | -51.0% | -91.2% | -6.4% | -13.9% | -68.5% |
| Net margin | -44.7% | -81.4% | -11.2% | -37.6% | -67.6% |
Balance sheet
Fiscal years, from Redwire's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $21M | $28M | $30M | $34M | $94M |
| Receivables | $16M | $27M | $32M | $22M | $37M |
| Inventory | $688,000 | $1M | $2M | $2M | $56M |
| Total current assets | $55M | $96M | $109M | $126M | $253M |
| Property, plant and equipment | $19M | $13M | $16M | $18M | $49M |
| Goodwill | $96M | $65M | $66M | $71M | $779M |
| Total assets | $262M | $258M | $271M | $293M | $1.4B |
| Total current liabilities | $51M | $95M | $112M | $149M | $156M |
| Long-term debt | $75M | $75M | $87M | $124M | $80M |
| Total liabilities | $155M | $188M | $218M | $345M | $312M |
| Shareholders' equity | $107M | -$7M | -$44M | -$189M | $1.1B |
| Net debt | $57M | $49M | $58M | $92M | -$9M |
Cash flow
Fiscal years, from Redwire's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$37M | -$32M | $1M | -$17M | -$177M |
| Capital spending | $2M | $4M | $6M | $6M | $13M |
| Free cash flow | -$39M | -$35M | -$4M | -$24M | -$191M |
| Stock-based compensation | $27M | $11M | $9M | $11M | $59M |
| Net borrowing | $224,000 | -$962,000 | $10M | $37M | -$43M |
| Free cash flow margin | -28.7% | -22.0% | -1.8% | -7.8% | -56.9% |
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Open RDW in InvestinglyQuestions
What was Redwire's revenue in 2025?
$335M in fiscal 2025, from its 10-K filing.
How much free cash flow does Redwire generate?
-$191M in fiscal 2025 (operating cash flow minus capital spending).
From Redwire's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.