Redwire Space (NYSE:RDW), a space infrastructure conglomerate, released its FY2021 and Q4 financial results after the bell on Thursday. The sixth in the rush of space companies that de-SPAC’d in 2021, Redwire began trading on the NYSE in September.
The company dabbled on a few key business updates, including its Nov. acquisition of 3D bioprinting company Techshot and partnership on Orbital Reef. By the numbers:
- $137.6M in revenue over 2021, up 237% YoY
- Net loss of $61.5M, 328% higher than in 2020
- Adj. EBITDA of $1.2M
- $20.5M in cash and cash equivalents as of Dec. 31, 2021
- Backlog of $271.6M
This year…Redwire had components flying on 12 launches. It has delivered the first of three roll-out solar arrays for the ISS. Redwire products are manifested on 8 confirmed launches this year, and the list is likely to grow in the coming months. Finally, the company is guiding 2022 revenue to $165M–$195M.
A picks and shovels business? Redwire’s tech portfolio—power generation, 3D printing, deployable structures, avionics, advanced payloads, space biotechnology, and more—”are the building blocks necessary for the future space economy,” Chairman/CEO Peter Cannito said.
+ Market data: Redwire is leading the pack of space SPACs by stock performance this year. $RDW closed March up ~57% in March—and it’s up ~26% YTD.