Redwire
Overview
Redwire is a pure-play space infrastructure company with 100% space-derived revenue. It supplies mission-critical hardware — roll-out solar arrays (ROSA/iROSA), radiation-hardened electronics, avionics, deployable structures, and in-space manufacturing systems — to NASA, DoD, and commercial customers. Revenue is project-based through fixed-price and cost-plus contracts; the Edge Autonomy acquisition (2025) added airborne autonomous systems.
Moat: Redwire holds the only flight-proven roll-out solar array technology (ROSA) with a 100% on-orbit success rate across ISS, Gateway, and commercial satellites. iROSA delivered six pairs to the ISS, upgrading its power supply — a mission-critical sole-source position. Its in-space manufacturing and bioprinting capabilities address growing commercial station and on-orbit servicing markets.
Business
Primary customers
- Government: NASA
- Defense: U.S. Department of Defense
- Defense: DARPA
- Commercial: Commercial Space Operators
- Commercial: Axiom Space
Sectors
Space Infrastructure & Manufacturing · Power Systems · In-Space Manufacturing · Avionics & Electronics
Key Products
- Roll-Out Solar Array (ROSA / iROSA)operational
Compactly-stowable, roll-out deployable solar array technology with 100% on-orbit success rate. Delivered to ISS, Gateway, Thales Alenia Space's Space Inspire, and Axiom Space station.
First flight: 2017-06-18
- Redwire In-Space Bioprinting / Manufacturingoperational
Regolith printing, metal additive manufacturing, and pharmaceutical bioprinting capabilities for the ISS National Lab — expanding to future commercial stations.
First flight: 2022-01-01
- Redwire Radiation-Hardened Electronics & Avionicsoperational
Space-qualified avionics, sensors, and electronics for civil and defense spacecraft; heritage across 200+ missions.
- SabreSat VLEO Platformdevelopment
DARPA-funded prime-contract platform designed for very low Earth orbit operations — enabling intelligence collection and servicing missions at altitudes previously impractical.
Government Contracts
| Agency | Program | Amount | Year | Source |
|---|---|---|---|---|
| NASA | iROSA (ISS Roll-Out Solar Arrays) — 6 pairs delivered | ~$500M (multiple task orders) | 2019 | |
| NASA | Gateway PPE (Power & Propulsion Element) ROSA Wings — via Maxar subcontract | ~$150M (sub to Maxar) | 2021 | |
| DARPA | SabreSat VLEO (Very Low Earth Orbit) Platform — prime contract | Undisclosed (DARPA prime) | 2024 | |
| Axiom Space / NASA (commercial station) | Roll-Out Solar Arrays for Axiom Space Station Module 1 | Undisclosed | 2025 |
Near-term Catalysts
- 2026-Q4
FY2026 revenue guidance of $450–500M execution
Hitting the $450–500M FY2026 guidance range would represent 34–49% growth, driven by Edge Autonomy integration and ROSA backlog conversion — validating the acquisition thesis.
- 2026-Q2
Gateway PPE ROSA wing delivery to Maxar / NASA
Delivery of ROSA wings for the lunar Gateway Power & Propulsion Element is a visible milestone that demonstrates Redwire's role in Artemis infrastructure and supports follow-on Gateway work.
Top Risks
- Net losses continue: FY2024 net loss of $114.3M and negative Adjusted EBITDA reflect high debt service and development costs; Redwire must achieve EBITDA breakeven in 2026 to avoid financing risk.
- High customer concentration — NASA, DoD, and a small number of commercial primes represent the bulk of revenue; loss of any major program could materially impair near-term results.
- Edge Autonomy acquisition (2025) added $107M FY2025 revenue but integration complexity, combined-company debt load, and VLEO/airborne market development timelines are execution risks.
Recent Milestones
- 2026-02
FY2025: revenue $335.4M (+10.3%), record backlog $411.2M, employees 1,410; 2026 guidance $450–500M
- 2025-09
Awarded contract to supply roll-out solar arrays for Axiom Space's first commercial station module
- 2025-01
Completed Edge Autonomy acquisition — adding airborne autonomous systems ($107M FY2025 revenue)
- 2025-03
FY2024: revenue $304.1M (+24.7%), contracted backlog $296.7M, net loss $114.3M
- 2024-06
Completed first deployment test of lunar Gateway ROSA wings — on track for delivery to Maxar
Recent News
- 2026-02
- 2025-09
- 2025-03
- 2024-06
- 2024-01
What investors should know
Q1What does Redwire do in space?⌄
Q2How does Redwire make money in space?⌄
Q3Who are Redwire's primary customers?⌄
Q4What is Redwire's competitive moat?⌄
Q5What are the top risks for Redwire investors?⌄
Q6What near-term catalysts could move Redwire stock?⌄
Q7How does Redwire compare to its closest peer Intuitive Machines?⌄
Peers
Compare side-by-side →Sources & References
SEC Filing
- SEC 10-K FY2024 (Redwire Corporation) · 2025-03-11
Investor Relations
Press Release
- Redwire FY2025 Earnings Release · 2026-02-25
- Redwire FY2024 Earnings Release · 2025-03-10
- Redwire Axiom Space ROSA Award · 2025-09-25