Redwire Corporation(NYSE:RDW) 
Redwire Corporation, a space infrastructure company, develops, manufactures, and sells mission critical space solutions and components for national security, civil, and commercial markets in the United States and internationally. It offers space commercialization, digitally engineered spacecraft, an...
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At a glance:
- Diversified Space Infrastructure Provider with Multi-Segment Exposure: Redwire operates across space infrastructure and in-space services, supplying components and capabilities used in satellites, civil space, and defense-related missions.
- Growth Strategy Often Tied to Contract Wins and Program Timing: Revenue and backlog momentum tend to be driven by the cadence of government and commercial awards, customer program schedules, and milestones that can create quarter-to-quarter variability.
- Profitability and Cash Flow Remain Key Watch Items: As with many emerging aerospace/space firms, investors often focus on progress toward sustainable margins, operating leverage, and improved free cash flow as scale increases.
- Execution Risk Includes Supply Chain, Integration, and Mission Delivery: Operational performance depends on meeting stringent quality and delivery requirements; challenges can arise from supply-chain constraints, manufacturing complexity, and integrating acquired capabilities.
- Sector Tailwinds Balanced by Competitive and Funding Dynamics: Long-term demand for space capabilities provides potential tailwinds, but outcomes can be influenced by competitive pressure, customer concentration, and shifts in government budgets or commercial funding.
Bull Thesis:
- Strong Backlog and Contract Momentum: Redwire continues to demonstrate robust growth in its backlog, securing significant contracts from key customers like NASA, the Department of Defense, and commercial space entities. This growing backlog provides strong revenue visibility and indicates sustained demand for its specialized space infrastructure solutions.
- Strategic Positioning in High-Growth Space Sectors: The company is strategically positioned in critical and expanding areas of the space economy, including in-space servicing, assembly, and manufacturing (ISAM), advanced sensors, digital engineering, and deployable structures. These sectors are poised for substantial growth, driven by both government and commercial initiatives, allowing Redwire to capitalize on future market trends.
- Improving Profitability Metrics (Adjusted EBITDA): While net income may still be negative, Redwire has shown a positive trend in its Adjusted EBITDA, indicating improving operational efficiency and leverage. This suggests that the core business operations are becoming more profitable, laying the groundwork for future GAAP profitability as the company scales.
- Macro Tailwinds from Government and Commercial Space Spending: Redwire benefits from significant macro tailwinds, including increased government spending on national security space programs and continued investment in NASA missions, alongside the rapid expansion of the commercial space industry. This broad-based growth in the space economy provides a fertile ground for Redwire's advanced technologies and services.
Bear Thesis:
- Persistent Net Losses and Negative Free Cash Flow: Despite improvements in Adjusted EBITDA, Redwire continues to report net losses and often negative free cash flow. This raises concerns about the company's long-term financial sustainability and its ability to generate sufficient cash internally to fund operations, R&D, and potential growth initiatives without relying on external financing.
- Intense Competition and Pricing Pressure: The space infrastructure market is highly competitive, with Redwire facing established aerospace primes (e.g., Lockheed Martin, Boeing) as well as agile, well-funded startups. This intense competition could lead to pricing pressure, limit market share gains, and necessitate significant ongoing investment in R&D to maintain a competitive edge.
- Reliance on Government Contracts and Procurement Cycles: A substantial portion of Redwire's revenue is derived from government contracts. While stable, this reliance exposes the company to risks associated with government budget cycles, political shifts, lengthy procurement processes, and potential contract cancellations or delays, which can impact revenue predictability and growth.
- High R&D and Capital Expenditure Requirements: Developing cutting-edge space technology and manufacturing advanced components is inherently capital-intensive, requiring significant ongoing investment in research and development (R&D) and capital expenditures. These high investment requirements can strain the company's financial resources and continue to weigh on profitability and cash flow in the near to medium term.
Main Competitors:
- Northrop Grumman ($NOC) (Space Systems), A major aerospace and defense prime contractor with a significant space division. Northrop Grumman competes with Redwire on large government contracts for spacecraft, advanced sensors, mission integration, and various space systems and components. They have a broad portfolio and deep heritage in space, often bidding on the same government and commercial space programs.
- Lockheed Martin ($LMT) (Space), Another aerospace and defense giant with a strong presence in space. Lockheed Martin builds satellites (e.g., GPS, national security), deep space probes, and provides advanced space technologies. They compete for large government and commercial satellite contracts, advanced technology development, and mission support, often overlapping with Redwire's component and subsystem offerings for spacecraft.
- Maxar Technologies (Space Infrastructure & Earth Intelligence), While recently acquired and no longer publicly traded, Maxar remains a significant player in satellite manufacturing, geospatial intelligence, and space robotics (e.g., Canadarm). Its capabilities in satellite components, deployable structures, and robotics directly compete with aspects of Redwire's portfolio, particularly for commercial and government satellite programs and in-space assembly.
- Sierra Space (Dream Chaser, LIFE Habitat), A rapidly growing commercial space company developing the Dream Chaser spaceplane, inflatable space habitats (LIFE), and various space technologies. Sierra Space competes with Redwire in areas like in-space manufacturing, deployable structures, and general space infrastructure development for commercial space stations and future lunar/Mars missions, often targeting similar next-generation space capabilities.
Moat:
Redwire Corporation operates in the highly competitive and rapidly evolving space infrastructure market. Its moat is built on specialized, often proprietary, technologies in areas like in-space manufacturing, advanced deployable structures, specialized sensors, and digital engineering for space. Redwire often focuses on high-value components and subsystems, offering agility and innovation in next-generation space capabilities (e.g., On-Orbit Servicing, Assembly, and Manufacturing - OSAM). However, it faces intense competition from established aerospace and defense primes with deep government ties and extensive resources (e.g., Northrop Grumman, Lockheed Martin), as well as from other well-funded 'new space' companies (e.g., Sierra Space, Blue Origin) that are also rapidly developing advanced space infrastructure solutions. The market's growth provides opportunities, but also ensures fierce competition for contracts and talent, requiring continuous innovation and strategic partnerships.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | 96,972,000 | 108,794,000 | 103,432,000 | 61,760,000 | 61,395,000 | 69,560,000 | 68,638,000 | 78,111,000 | 87,792,000 | 63,485,000 | 62,612,000 | 60,098,000 | 57,605,000 | 53,705,000 | 37,249,000 | 36,728,000 | 32,867,000 | 41,075,000 | 32,680,000 | |
yoy | 57.95% | 56.40% | 50.69% | -20.93% | -30.07% | 9.57% | 9.62% | 29.97% | 52.40% | 18.21% | 68.09% | 63.63% | 75.27% | 30.75% | 13.98% | |||||
qoq | -10.87% | 5.18% | 67.47% | 0.59% | -11.74% | 1.34% | -12.13% | -11.03% | 38.29% | 1.39% | 4.18% | 4.33% | 7.26% | 44.18% | 1.42% | 11.75% | -19.98% | 25.69% | ||
cost of sales | 71,164,000 | 98,296,000 | 86,622,000 | 80,824,000 | 52,354,000 | 64,937,000 | 56,615,000 | 65,127,000 | 72,967,000 | 52,754,000 | 45,495,000 | 44,194,000 | 43,388,000 | 45,112,000 | 29,300,000 | 29,746,000 | 27,696,000 | 33,806,000 | 26,786,000 | |
gross profit | 25,808,000 | 10,498,000 | 16,810,000 | -19,064,000 | 9,041,000 | 4,623,000 | 12,023,000 | |||||||||||||
yoy | 185.46% | 127.08% | 39.82% | |||||||||||||||||
qoq | 145.84% | -37.55% | -188.18% | -310.86% | 95.57% | -61.55% | ||||||||||||||
gross margin % | 26.61% | 9.65% | 16.25% | -30.87% | 14.73% | 6.65% | 17.52% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | NaN% |
operating expenses: | ||||||||||||||||||||
selling, general and administrative expenses | 82,887,000 | 47,785,000 | 50,285,000 | 54,464,000 | 18,746,000 | 18,427,000 | 17,521,000 | 18,088,000 | 17,362,000 | 16,499,000 | 18,302,000 | 17,686,000 | 16,038,000 | 16,517,000 | 15,312,000 | 17,562,000 | 20,951,000 | |||
transaction expenses | 40,000 | 110,000 | 684,000 | 16,643,000 | 3,799,000 | 3,730,000 | 5,121,000 | 278,000 | 4,000 | 9,000 | 1,324,000 | 1,819,000 | 48,000 | 46,000 | 1,469,000 | 1,128,000 | ||||
research and development | 12,582,000 | 9,535,000 | 7,693,000 | 1,720,000 | 813,000 | 1,447,000 | 1,893,000 | 1,748,000 | 1,040,000 | 989,000 | 1,532,000 | 2,070,000 | 388,000 | 376,000 | 1,133,000 | 1,708,000 | 1,724,000 | 1,190,000 | 1,371,000 | |
operating income | -69,701,000 | -81,617,000 | -41,852,000 | -91,891,000 | -14,317,000 | -18,981,000 | -12,512,000 | -7,130,000 | -3,577,000 | -6,757,000 | -2,717,000 | -3,856,000 | -2,218,000 | -25,785,000 | -10,315,000 | -92,798,000 | -17,550,000 | -16,340,000 | -31,051,000 | |
yoy | 386.84% | 329.99% | 234.49% | 1188.79% | 300.25% | 180.91% | 360.51% | 84.91% | 61.27% | -73.79% | -73.66% | -95.84% | -87.36% | 57.80% | -66.78% | |||||
qoq | -14.60% | 95.01% | -54.45% | 541.83% | -24.57% | 51.70% | 75.48% | 99.33% | -47.06% | 148.69% | -29.54% | 73.85% | -91.40% | 149.98% | -88.88% | 428.76% | 7.41% | -47.38% | ||
operating margin % | -71.88% | -75.02% | -40.46% | -148.79% | -23.32% | -27.29% | -18.23% | -9.13% | -4.07% | -10.64% | -4.34% | -6.42% | -3.85% | -48.01% | -27.69% | -252.66% | -53.40% | -39.78% | -95.02% | NaN% |
interest expense | 2,467,000 | 6,073,000 | 6,282,000 | 23,755,000 | 3,594,000 | 3,946,000 | 3,610,000 | 3,009,000 | 2,918,000 | 2,762,000 | 2,629,000 | 2,664,000 | 2,644,000 | 2,696,000 | 2,401,000 | 1,670,000 | 1,452,000 | 1,525,000 | 1,740,000 | |
loss on extinguishment of debt | 2,545,000 | |||||||||||||||||||
other expense | 1,148,000 | -4,123,000 | -13,844,000 | 13,937,000 | -14,781,000 | 45,914,000 | 5,309,000 | 7,933,000 | 1,492,000 | -1,186,000 | 1,232,000 | -970,000 | 2,427,000 | -1,582,000 | -158,000 | -15,515,000 | 1,180,000 | -857,000 | -2,957,000 | |
income before income taxes | -75,861,000 | -84,563,000 | -34,290,000 | -129,583,000 | -3,130,000 | -68,841,000 | -21,431,000 | -18,072,000 | -7,987,000 | -8,333,000 | -6,578,000 | -5,550,000 | -7,289,000 | -26,899,000 | -12,558,000 | -78,953,000 | -20,182,000 | -17,008,000 | -29,834,000 | |
income tax expense | 641,000 | 910,000 | 6,862,000 | -32,604,000 | -182,000 | -1,672,000 | -472,000 | 15,000 | 109,000 | -117,000 | -253,000 | -85,000 | -31,000 | -1,023,000 | -2,135,000 | -1,925,000 | -2,889,000 | -3,298,000 | -5,582,000 | |
net income | -76,502,000 | -85,473,000 | -41,152,000 | -96,979,000 | -2,948,000 | -67,169,000 | -20,959,000 | -18,087,000 | -8,096,000 | -8,216,000 | -6,325,000 | -5,465,000 | -7,258,000 | -25,876,000 | -10,423,000 | -77,028,000 | -17,293,000 | -13,710,000 | -24,252,000 | -5,752,200 |
yoy | 2495.05% | 27.25% | 96.35% | 436.18% | -63.59% | 717.54% | 231.37% | 230.96% | 11.55% | -68.25% | -39.32% | -92.91% | -58.03% | 88.74% | -57.02% | 1239.11% | ||||
qoq | -10.50% | 107.70% | -57.57% | 3189.65% | -95.61% | 220.48% | 15.88% | 123.41% | -1.46% | 29.90% | 15.74% | -24.70% | -71.95% | 148.26% | -86.47% | 345.43% | 26.13% | -43.47% | 321.61% | |
net income margin % | -78.89% | -78.56% | -39.79% | -157.03% | -4.80% | -96.56% | -30.54% | -23.16% | -9.22% | -12.94% | -10.10% | -9.09% | -12.60% | -48.18% | -27.98% | -209.73% | -52.62% | -33.38% | -74.21% | -Infinity% |
less: dividends on convertible preferred stock | 1,512,000 | 10,924,000 | 1,674,000 | 29,739,000 | 3,531,000 | 24,927,000 | 3,383,000 | 9,699,000 | 3,043,000 | 7,981,000 | 2,874,000 | 4,800,000 | ||||||||
net income available to common shareholders | -78,014,000 | -96,397,000 | -42,826,000 | -126,718,000 | -6,479,000 | -92,096,000 | -24,342,000 | -27,791,000 | -11,138,000 | -16,269,000 | -9,127,000 | -10,264,000 | ||||||||
net income per common share: | ||||||||||||||||||||
basic and diluted | -400 | -560 | -290 | -1,410 | -90 | -1,390 | -370 | -420 | -170 | -250 | -140 | -160 | -180 | |||||||
weighted-average shares outstanding: | ||||||||||||||||||||
basic and diluted | 193,672,276,000 | 119,544,268,000 | 145,744,055,000 | 89,554,940,000 | 71,192,148,000 | 66,146,155,000 | 66,529,288,000 | 65,701,704,000 | 65,572,286,000 | 64,654,153,000 | 64,795,985,000 | 64,345,698,000 | 63,460,527 | 62,992,454 | 62,690,869 | 45,082,544 | 44,036,040 | |||
comprehensive income: | ||||||||||||||||||||
foreign currency translation gain, net of tax | -6,425,000 | -643,000 | -1,403,000 | 10,174,000 | 835,000 | -1,534,000 | 877,000 | -78,000 | -672,000 | 1,134,000 | -860,000 | 138,000 | 418,000 | 1,987,663 | -177 | -358 | -128 | -105 | -119 | |
total other comprehensive income, net of tax | -6,425,000 | -643,000 | -1,403,000 | 10,174,000 | 835,000 | -1,534,000 | 877,000 | -78,000 | -672,000 | 1,134,000 | -860,000 | 138,000 | 418,000 | 1,987,663 | -177 | -358 | -128 | -105 | -119 | |
total comprehensive income | -82,927,000 | -86,116,000 | -42,555,000 | -86,805,000 | -2,113,000 | -68,703,000 | -20,082,000 | -18,170,000 | -8,767,000 | -7,154,000 | -7,113,000 | -5,326,000 | -6,840,000 | -128,524,593 | -10,600 | -77,386 | -17,421 | -13,815 | -24,371 | |
net income attributable to noncontrolling interests | 5,000 | -1,000 | 72,000 | -72,000 | -1,000 | |||||||||||||||
net income attributable to redwire corporation | -85,473,000 | -41,152,000 | -96,979,000 | -2,948,000 | -67,169,000 | -20,959,000 | -18,092,000 | -8,095,000 | -8,288,000 | -6,253,000 | -5,464,000 | -7,258,000 | ||||||||
gross margin | 12,984,000 | 14,825,000 | 10,731,000 | 17,117,000 | 15,904,000 | 14,217,000 | 8,593,000 | 7,949,000 | 6,982,000 | 5,171,000 | 7,269,000 | 5,894,000 | ||||||||
impairment expense | 16,161,000 | 80,462,000 | ||||||||||||||||||
contingent earnout expense | 110,000 | 113,000 | ||||||||||||||||||
net income per share | -0.415 | -0.16 | -1.22 | -0.28 | -0.15 | -0.55 | ||||||||||||||
selling, general and administrative | 20,840,000 | 34,333,000 | ||||||||||||||||||
general and administrative expenses | 707,636 | |||||||||||||||||||
income from operations | -707,636 | |||||||||||||||||||
other income | ||||||||||||||||||||
change in fair value of warrant liability | -5,062,749 | |||||||||||||||||||
interest earned on marketable securities held in trust account | 18,185 | |||||||||||||||||||
total other expense | -5,044,564 | |||||||||||||||||||
weighted-average redeemable ordinary shares outstanding, basic and diluted – class a | 16,377,622 | |||||||||||||||||||
basic and diluted net income per ordinary share - class a | ||||||||||||||||||||
weighted-average ordinary shares outstanding, basic and diluted – class b | 4,094,406 | |||||||||||||||||||
basic and diluted net loss per ordinary share - class b | -1.4 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2021-01-07 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||
current assets: | |||||||||||||||||||||||
cash, cash equivalents and restricted cash | 145,211,000 | 95,183,000 | 54,328,000 | 78,559,000 | 54,221,000 | 49,071,000 | 43,094,000 | ||||||||||||||||
accounts receivable | 24,342,000 | 37,251,000 | 31,976,000 | 36,811,000 | 15,247,000 | 21,905,000 | 22,653,000 | 22,083,000 | 18,988,000 | 32,411,000 | 24,641,000 | 25,492,000 | 23,481,000 | 26,726,000 | 16,521,000 | 12,702,000 | 11,984,000 | 16,262,000 | 10,396,000 | ||||
contract assets | 61,440,000 | 44,019,000 | 50,925,000 | 51,044,000 | 60,757,000 | 43,044,000 | 46,069,000 | 42,909,000 | 39,554,000 | 36,961,000 | 39,779,000 | 43,290,000 | 40,741,000 | 31,041,000 | 16,319,000 | 14,747,000 | 17,492,000 | 11,748,000 | 9,364,000 | ||||
inventory | 69,350,000 | 55,847,000 | 53,491,000 | 58,835,000 | 2,192,000 | 2,239,000 | 2,055,000 | 1,825,000 | 1,612,000 | 1,516,000 | 1,687,000 | 1,281,000 | 1,452,000 | 1,469,000 | 2,029,000 | 1,681,000 | 1,022,000 | 688,000 | 607,000 | ||||
prepaid expenses and other current assets | 20,368,000 | 20,512,000 | 19,920,000 | 19,273,000 | 9,718,000 | 8,025,000 | 10,738,000 | 6,451,000 | 5,869,000 | 6,428,000 | 5,464,000 | 6,545,000 | 5,704,000 | 5,687,000 | 3,725,000 | 4,073,000 | 4,593,000 | 2,488,000 | 1,855,000 | 122,826 | 146,204 | ||
total current assets | 320,711,000 | 252,812,000 | 210,640,000 | 244,522,000 | 142,135,000 | 125,925,000 | 126,536,000 | 105,313,000 | 99,915,000 | 109,313,000 | 84,422,000 | 89,163,000 | 84,752,000 | 96,167,000 | 49,359,000 | 45,462,000 | 43,469,000 | 55,216,000 | 53,974,000 | 680,026 | 1,332,732 | ||
property, plant and equipment, net of accumulated depreciation | 51,460,000 | 50,630,000 | 47,511,000 | 18,759,000 | 17,837,000 | 16,929,000 | 15,889,000 | 15,899,000 | 15,909,000 | 14,631,000 | 13,874,000 | ||||||||||||
right-of-use assets | 35,837,000 | 31,741,000 | 31,370,000 | 30,248,000 | 16,070,000 | 15,277,000 | 10,668,000 | 11,495,000 | 12,350,000 | 13,181,000 | 14,041,000 | 14,892,000 | 12,956,000 | 13,103,000 | 14,783,000 | 12,080,000 | 12,985,000 | ||||||
intangible assets, net of accumulated amortization of 54,351 and 46,192 | 326,702,000 | ||||||||||||||||||||||
goodwill | 775,968,000 | 779,114,000 | 800,012,000 | 789,254,000 | 71,996,000 | 71,161,000 | 72,572,000 | 65,218,000 | 65,310,000 | 65,757,000 | 64,413,000 | 64,994,000 | 64,910,000 | 64,618,000 | 56,710,000 | 56,752,000 | 96,230,000 | 96,314,000 | 69,625,000 | ||||
other non-current assets | 450,000 | 118,000 | 365,000 | 521,000 | 3,069,000 | 557,000 | 724,000 | 604,000 | 475,000 | 511,000 | 509,000 | 570,000 | 953,000 | 909,000 | 616,000 | 756,000 | 125,000 | ||||||
total assets | 1,511,128,000 | 1,449,137,000 | 1,446,246,000 | 1,508,186,000 | 314,099,000 | 292,617,000 | 289,945,000 | 260,274,000 | 259,542,000 | 271,269,000 | 244,226,000 | 251,397,000 | 245,078,000 | 257,698,000 | 184,372,000 | 178,598,000 | 259,822,000 | 261,756,000 | 216,007,000 | 166,970,283 | 167,604,804 | 262,530 | |
liabilities, convertible preferred stock and equity | |||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||
accounts payable | 42,375,000 | 32,295,000 | 34,309,000 | 38,885,000 | 28,179,000 | 32,127,000 | 19,936,000 | 27,796,000 | 28,059,000 | 18,573,000 | 14,185,000 | 16,890,000 | 14,063,000 | 17,584,000 | 17,595,000 | 18,408,000 | 13,905,000 | 13,131,000 | 7,390,000 | 194,799 | 193,815 | ||
notes payable to sellers | 3,171,000 | 2,171,000 | 2,171,000 | 7,171,000 | 11,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 888,000 | ||||||||||||
short-term debt, including current portion of long-term debt | 4,831,000 | 5,162,000 | 6,274,000 | 5,280,000 | 780,000 | 1,266,000 | 1,751,000 | 780,000 | 780,000 | 1,378,000 | 1,976,000 | 780,000 | 1,679,000 | 2,578,000 | 3,476,000 | 780,000 | 1,542,000 | 2,684,000 | 3,827,000 | ||||
short-term operating lease liabilities | 4,443,000 | 4,088,000 | 4,309,000 | 4,573,000 | 4,481,000 | 4,354,000 | 3,518,000 | 3,502,000 | 3,624,000 | 3,737,000 | 3,677,000 | 3,614,000 | 3,345,000 | 3,214,000 | |||||||||
short-term finance lease liabilities | 606,000 | 595,000 | 550,000 | 540,000 | 496,000 | 473,000 | 501,000 | 461,000 | 451,000 | 439,000 | 364,000 | 382,000 | 356,000 | 299,000 | |||||||||
accrued expenses | 31,811,000 | 32,034,000 | 28,963,000 | 33,380,000 | 19,825,000 | 24,192,000 | 27,813,000 | 28,624,000 | 30,734,000 | 32,902,000 | 37,678,000 | 34,307,000 | 36,275,000 | 36,581,000 | 18,909,000 | 14,588,000 | 19,323,000 | 17,118,000 | 12,841,000 | ||||
deferred revenue | 79,847,000 | 60,119,000 | 60,009,000 | 65,343,000 | 59,748,000 | 67,201,000 | 56,684,000 | 44,076,000 | 37,172,000 | 52,645,000 | 27,059,000 | 33,905,000 | 24,999,000 | 29,817,000 | 17,373,000 | 15,823,000 | 13,929,000 | 15,734,000 | 11,737,000 | ||||
other current liabilities | 16,020,000 | 19,150,000 | 12,994,000 | 12,257,000 | 5,033,000 | 19,730,000 | 20,807,000 | 2,064,000 | 2,593,000 | 2,362,000 | 2,310,000 | 3,344,000 | 3,506,000 | 3,666,000 | 1,786,000 | 1,829,000 | 1,309,000 | 1,571,000 | 823,000 | ||||
total current liabilities | 183,104,000 | 155,614,000 | 149,579,000 | 167,429,000 | 118,542,000 | 149,343,000 | 131,021,000 | 107,303,000 | 103,413,000 | 112,036,000 | 87,249,000 | 93,222,000 | 84,223,000 | 94,739,000 | 63,623,000 | 55,332,000 | 53,879,000 | 51,238,000 | 37,506,000 | 248,745 | 193,815 | 242,641 | |
long-term debt | 83,369,000 | 80,036,000 | 184,699,000 | 185,464,000 | 104,375,000 | 124,464,000 | 121,553,000 | 94,646,000 | 89,742,000 | 86,842,000 | 79,943,000 | 75,046,000 | 75,019,000 | 74,745,000 | 89,512,000 | 84,625,000 | 74,745,000 | 74,867,000 | 74,989,000 | ||||
long-term operating lease liabilities | 34,231,000 | 30,471,000 | 29,732,000 | 28,320,000 | 14,267,000 | 13,444,000 | 9,790,000 | 10,634,000 | 11,455,000 | 12,302,000 | 13,118,000 | 14,049,000 | 12,415,000 | 12,670,000 | |||||||||
long-term finance lease liabilities | 1,237,000 | 1,276,000 | 1,111,000 | 1,068,000 | 1,006,000 | 980,000 | 1,089,000 | 1,064,000 | 1,140,000 | 1,137,000 | 883,000 | 806,000 | 759,000 | 579,000 | |||||||||
warrant liabilities | 4,532,000 | 4,213,000 | 8,816,000 | 23,014,000 | 6,688,000 | 55,285,000 | 11,436,000 | 13,377,000 | 4,400,000 | 3,325,000 | 3,789,000 | 3,325,000 | 4,098,000 | 1,314,000 | 3,093,000 | 3,943,000 | 20,336,000 | 19,098,000 | 18,789,000 | ||||
deferred tax liabilities | 38,430,000 | 38,358,000 | 37,279,000 | 40,800,000 | 615,000 | 582,000 | 2,379,000 | 2,442,000 | 2,440,000 | 2,402,000 | 2,195,000 | 2,985,000 | 3,172,000 | 3,255,000 | 1,637,000 | 3,772,000 | 5,668,000 | 8,601,000 | 6,415,000 | ||||
other non-current liabilities | 1,669,000 | 2,119,000 | 2,116,000 | 2,606,000 | 1,936,000 | 428,000 | 401,000 | 378,000 | 416,000 | 400,000 | 355,000 | 375,000 | 384,000 | 506,000 | 325,000 | 325,000 | 609,000 | 730,000 | |||||
total liabilities | 346,572,000 | 312,087,000 | 413,332,000 | 448,701,000 | 247,429,000 | 344,526,000 | 277,669,000 | 229,844,000 | 213,006,000 | 218,444,000 | 187,532,000 | 189,808,000 | 180,070,000 | 187,808,000 | 169,569,000 | 157,500,000 | 165,610,000 | 154,534,000 | 137,699,000 | 47,147,750 | 42,030,071 | ||
commitments and contingencies | |||||||||||||||||||||||
convertible preferred stock, 0.0001 par value... | 77,034,000 | 77,034,000 | 104,869,000 | 151,893,000 | 134,734,000 | 136,805,000 | 108,696,000 | 108,696,000 | 96,106,000 | 96,106,000 | 85,395,000 | 85,395,000 | 76,365,000 | 76,365,000 | |||||||||
shareholders’ equity | 14,803,000 | 21,098,000 | 94,212,000 | 107,222,000 | 78,308,000 | ||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||||||
common stock, 0.0001 par value... | 20,000 | 19,000 | 15,000 | 14,000 | 8,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | ||||
treasury stock | -7,342,000 | -7,342,000 | -6,336,000 | -3,581,000 | -3,573,000 | -3,573,000 | -2,688,000 | -1,007,000 | -1,007,000 | -951,000 | -629,000 | -381,000 | -381,000 | -381,000 | |||||||||
additional paid-in capital | 1,789,231,000 | 1,678,799,000 | 1,459,710,000 | 1,392,204,000 | 284,381,000 | 161,619,000 | 184,325,000 | 180,716,000 | 190,858,000 | 188,323,000 | 195,500,000 | 192,962,000 | 200,084,000 | 198,126,000 | 196,012,000 | 191,707,000 | 187,435,000 | 183,024,000 | 140,295,000 | 22,752,692 | 17,000,551 | 24,569 | |
accumulated deficit | -698,264,000 | -621,762,000 | -536,289,000 | -493,393,000 | -351,054,000 | -348,106,000 | -280,937,000 | -259,978,000 | -241,886,000 | -233,791,000 | -225,503,000 | -219,250,000 | -213,786,000 | -206,528,000 | -180,655,000 | -170,232,000 | -93,204,000 | -75,911,000 | -62,201,000 | -17,753,600 | -12,001,400 | -5,111 | |
accumulated other comprehensive income | 3,877,000 | 10,302,000 | 10,945,000 | 12,348,000 | 2,174,000 | 1,339,000 | 2,873,000 | 1,996,000 | 2,236,000 | 2,903,000 | 1,775,000 | 2,629,000 | 2,492,000 | 2,076,000 | -560,000 | -383,000 | -25,000 | 103,000 | 208,000 | ||||
total shareholders’ equity | 1,087,522,000 | 1,060,016,000 | 928,045,000 | 907,592,000 | -68,064,000 | -188,714,000 | -96,420,000 | -78,266,000 | -49,792,000 | -43,509,000 | -28,851,000 | -24,034,000 | -11,585,000 | -6,701,000 | 5,000,008 | 5,000,010 | |||||||
total liabilities, convertible preferred stock and equity | 1,511,128,000 | 1,449,137,000 | 1,446,246,000 | 1,508,186,000 | 314,099,000 | 292,617,000 | 289,945,000 | 260,274,000 | 259,542,000 | 271,269,000 | 244,226,000 | 251,397,000 | 245,078,000 | 257,698,000 | |||||||||
property, plant and equipment | 49,199,000 | 12,915,000 | 12,761,000 | 6,697,000 | 5,824,000 | 18,786,000 | 19,384,000 | 4,830,000 | |||||||||||||||
intangible assets | 336,153,000 | 65,333,000 | 66,871,000 | 56,207,000 | 57,724,000 | 88,352,000 | 90,842,000 | 87,453,000 | |||||||||||||||
intangible assets, net of accumulated amortization of 41,704 and 25,920 | 353,229,000 | ||||||||||||||||||||||
intangible assets, net of accumulated amortization of 32,195 and 25,920 | 396,130,000 | ||||||||||||||||||||||
intangible assets, net of accumulated amortization of 28,050 and 25,920 | 62,070,000 | ||||||||||||||||||||||
income tax receivable | 666,000 | 636,000 | 636,000 | 636,000 | 636,000 | 688,000 | 688,000 | 688,000 | 688,000 | 688,000 | 688,000 | 688,000 | 688,000 | 688,000 | |||||||||
prepaid insurance | 975,000 | 1,291,000 | 577,000 | 687,000 | 1,083,000 | 1,304,000 | 636,000 | 1,413,000 | 2,240,000 | 3,046,000 | 692,000 | 1,752,000 | 2,819,000 | 3,806,000 | |||||||||
intangible assets, net of accumulated amortization of 25,920 and 18,509, respectively | 61,788,000 | ||||||||||||||||||||||
equity method investments | 3,589,000 | 3,613,000 | 3,241,000 | 3,495,000 | 3,259,000 | 3,269,000 | |||||||||||||||||
deferred tax assets | 72,000 | ||||||||||||||||||||||
redwire corporationconsolidated balance sheets | |||||||||||||||||||||||
noncontrolling interests | 222,000 | 228,000 | 150,000 | 228,000 | 228,000 | 226,000 | |||||||||||||||||
total equity | -188,714,000 | -96,420,000 | -78,266,000 | -49,570,000 | -43,281,000 | -28,701,000 | -23,806,000 | -11,357,000 | -6,475,000 | ||||||||||||||
intangible assets, net of accumulated amortization of 24,151 and 18,509, respectively | 62,516,000 | ||||||||||||||||||||||
redwire corporationcondensed consolidated balance sheets | |||||||||||||||||||||||
cash and cash equivalents | 30,832,000 | 32,569,000 | 30,278,000 | 10,859,000 | 11,231,000 | 11,273,000 | 28,316,000 | 7,031,000 | 10,879,000 | 5,938,000 | 20,523,000 | 27,258,000 | |||||||||||
intangible assets, net of accumulated amortization of 22,176 and 18,509, respectively | 61,755,000 | ||||||||||||||||||||||
intangible assets, net of accumulated amortization of 20,247 and 18,509, respectively | 62,004,000 | ||||||||||||||||||||||
intangible assets, net of accumulated amortization of 18,509 and 11,247, respectively | 62,985,000 | ||||||||||||||||||||||
redwire corporation consolidated balance sheets | |||||||||||||||||||||||
intangible assets, net of accumulated amortization of 16,612 and 11,247, respectively | 62,969,000 | ||||||||||||||||||||||
intangible assets, net of accumulated amortization of 14,786 and 11,247, respectively | 64,409,000 | ||||||||||||||||||||||
liabilities and equity | |||||||||||||||||||||||
short-term lease liabilities | 3,484,000 | 2,904,000 | 2,871,000 | ||||||||||||||||||||
long-term lease liabilities | 11,379,000 | 9,503,000 | 10,373,000 | ||||||||||||||||||||
shareholders’ equity: | |||||||||||||||||||||||
total liabilities and shareholders’ equity | 184,372,000 | 178,598,000 | 259,822,000 | 261,756,000 | 216,007,000 | 166,970,283 | 167,604,804 | ||||||||||||||||
related party receivable | |||||||||||||||||||||||
assets: | |||||||||||||||||||||||
cash | 557,200 | 1,186,528 | |||||||||||||||||||||
cash and marketable securities held in trust account | 166,290,257 | 166,272,072 | |||||||||||||||||||||
liabilities and shareholders’ equity | |||||||||||||||||||||||
due to related party | 53,946 | 35,000 | |||||||||||||||||||||
warrant liability | 41,166,837 | 36,104,088 | |||||||||||||||||||||
deferred underwriting discount | 5,732,168 | 5,732,168 | |||||||||||||||||||||
class a ordinary shares subject to possible redemption, 11,312,564 and 11,853,653 shares at 10.15 per share, respectively | 114,822,525 | ||||||||||||||||||||||
preference shares, 0.0001 par value... | |||||||||||||||||||||||
class a ordinary shares, 0.0001 par value... | 507 | 450 | |||||||||||||||||||||
class b ordinary shares, 0.0001 par value... | 409 | 409 | 431 | ||||||||||||||||||||
class a ordinary shares subject to possible redemption, 11,879,283 and 11,853,653 shares at 10.15 per share, respectively | 120,574,723 | ||||||||||||||||||||||
current asset: cash | 146 | ||||||||||||||||||||||
deferred offering costs | 262,384 | ||||||||||||||||||||||
liabilities and shareholder’s equity: | |||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||
accrued offering costs and expenses | 177,641 | ||||||||||||||||||||||
promissory note—related party | 30,000 | ||||||||||||||||||||||
shareholder’s equity: | |||||||||||||||||||||||
total shareholder’s equity | 19,889 | ||||||||||||||||||||||
total liabilities and shareholder’s equity | 262,530 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||
net income | -76,502,000 | -85,473,000 | -41,152,000 | -96,979,000 | -2,948,000 | -67,169,000 | -20,959,000 | -18,087,000 | -8,096,000 | -8,216,000 | -6,325,000 | -5,465,000 | -7,258,000 | -25,876,000 | -10,423,000 | -77,028,000 | -17,293,000 | -13,710,000 | -42,334,949 |
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||
depreciation and amortization expense | 11,250,000 | 12,412,000 | 12,121,000 | 5,060,000 | 3,046,000 | 3,154,000 | 2,860,000 | 2,925,000 | 2,753,000 | 2,753,000 | 2,887,000 | 2,618,000 | 2,466,000 | 2,452,000 | 1,776,000 | 3,402,000 | 3,658,000 | 3,076,000 | |
amortization of debt issuance costs and discount | 478,000 | 846,000 | 794,000 | 369,000 | 273,000 | 273,000 | 235,000 | 179,000 | 170,000 | 160,000 | 275,000 | 27,000 | 146,000 | 145,000 | 138,000 | 128,000 | 79,000 | 86,000 | |
equity-based compensation expense | 46,735,000 | 11,399,000 | 11,993,000 | 32,686,000 | 2,912,000 | 3,280,000 | 3,593,000 | 1,918,000 | 2,535,000 | 2,341,000 | 2,451,000 | 1,908,000 | 1,958,000 | 2,114,000 | 2,518,000 | 1,743,000 | 4,411,000 | 4,193,000 | |
loss on extinguishment of debt | 2,545,000 | ||||||||||||||||||
loss on change in fair value of warrants | 319,000 | -4,603,000 | -14,198,000 | 16,326,000 | -13,634,000 | 43,849,000 | -1,941,000 | 8,977,000 | 1,075,000 | -464,000 | 464,000 | -773,000 | 2,784,000 | ||||||
deferred provision for income taxes | 641,000 | 1,064,000 | 6,104,000 | -32,149,000 | 80,000 | -1,756,000 | -159,000 | 14,000 | 98,000 | 87,000 | -679,000 | -202,000 | -131,000 | -1,274,000 | -2,136,000 | -1,939,000 | -2,889,000 | -3,327,000 | |
other | 921,000 | 676,000 | 1,265,000 | -2,395,000 | -1,016,000 | 2,124,000 | -764,000 | 293,000 | 397,000 | -395,000 | 285,000 | -222,000 | 94,000 | 65,000 | 112,000 | 36,000 | -5,000 | -71,000 | |
changes in assets and liabilities: | |||||||||||||||||||
decrease in accounts receivable | 12,820,000 | -3,916,000 | 5,063,000 | -10,321,000 | 6,853,000 | 174,000 | 4,509,000 | -3,187,000 | 13,174,000 | -7,593,000 | 655,000 | -2,018,000 | 3,394,000 | -6,363,000 | -3,829,000 | -728,000 | 4,274,000 | -5,575,000 | |
decrease in contract assets | -17,635,000 | 6,425,000 | 162,000 | 11,121,000 | -16,845,000 | 1,616,000 | -2,305,000 | -3,468,000 | -2,981,000 | 3,566,000 | 2,890,000 | -2,475,000 | -9,423,000 | 5,403,000 | -1,581,000 | 2,739,000 | -5,748,000 | -1,458,000 | |
decrease in inventory | -14,077,000 | -2,715,000 | -5,386,000 | 1,394,000 | 55,000 | -197,000 | -223,000 | -214,000 | -100,000 | 177,000 | -409,000 | 170,000 | 18,000 | 384,000 | -359,000 | -666,000 | -337,000 | 39,000 | |
decrease in prepaid expenses and other assets | -1,950,000 | -769,000 | -593,000 | -366,000 | -2,658,000 | 2,138,000 | -3,808,000 | -658,000 | 427,000 | -1,183,000 | 847,000 | -409,000 | -183,000 | 1,069,000 | 24,000 | 495,000 | -1,322,000 | -401,000 | |
increase in accounts payable and accrued expenses | 10,632,000 | -1,888,000 | -4,186,000 | 2,606,000 | -8,192,000 | 9,329,000 | -9,802,000 | -3,091,000 | 7,929,000 | -1,078,000 | 1,060,000 | 365,000 | -3,627,000 | -6,794,000 | 3,279,000 | 373,000 | 3,141,000 | 9,396,000 | |
increase in deferred revenue | 19,823,000 | 114,000 | -5,661,000 | -20,843,000 | -7,590,000 | 10,655,000 | 1,049,000 | 6,916,000 | -15,413,000 | 25,470,000 | -6,759,000 | 8,869,000 | -4,844,000 | 6,556,000 | 1,613,000 | 1,902,000 | -1,801,000 | 3,087,000 | |
increase in operating lease liabilities | -98,000 | -91,000 | -86,000 | -45,000 | -10,000 | -86,000 | -87,000 | -85,000 | -84,000 | -84,000 | -81,000 | -121,000 | -39,000 | ||||||
increase in other liabilities | -3,568,000 | 6,150,000 | -538,000 | 6,212,000 | -5,480,000 | -829,000 | 10,833,000 | -754,000 | 472,000 | 19,000 | -539,000 | -463,000 | 23,000 | 1,306,000 | 322,000 | 167,000 | -35,000 | 226,000 | |
increase in notes payable to sellers | 1,000,000 | 0 | 0 | ||||||||||||||||
net cash from operating activities | -6,666,000 | -24,262,000 | -20,325,000 | -87,663,000 | -45,081,000 | 7,064,000 | -17,670,000 | -9,506,000 | 2,764,000 | 15,691,000 | |||||||||
capital expenditures | -4,755,000 | -2,191,000 | -6,536,000 | -2,962,000 | -1,790,000 | -2,335,000 | -1,589,000 | -914,000 | -1,561,000 | -2,096,000 | |||||||||
free cash flows | -11,421,000 | -26,453,000 | -26,861,000 | -90,625,000 | -46,871,000 | 4,729,000 | -19,259,000 | -10,420,000 | 1,203,000 | 13,595,000 | |||||||||
cash flows from investing activities: | |||||||||||||||||||
purchases of property, plant and equipment | -4,755,000 | -2,191,000 | -6,536,000 | -2,962,000 | -1,790,000 | -2,335,000 | -1,589,000 | -914,000 | -1,561,000 | -2,096,000 | -1,301,000 | -1,436,000 | -787,000 | -833,000 | -895,000 | -1,006,000 | -892,000 | -254,000 | |
purchase of intangible assets | -1,281,000 | -3,662,000 | -953,000 | -2,921,000 | -2,265,000 | -1,729,000 | -1,209,000 | -773,000 | -806,000 | -1,017,000 | -1,365,000 | -313,000 | -12,000 | 113,000 | -464,000 | -53,000 | -122,000 | ||
net cash from investing activities | -6,036,000 | -5,853,000 | -7,489,000 | -157,674,000 | -4,055,000 | -4,149,000 | -3,594,000 | 2,911,000 | -2,367,000 | -3,113,000 | -2,666,000 | -1,749,000 | -799,000 | -33,950,000 | -1,359,000 | -1,059,000 | -1,014,000 | -2,451,000 | |
cash flows from financing activities: | |||||||||||||||||||
proceeds received from debt | 89,796,000 | -107,000 | 911,000 | 185,327,000 | 5,000,000 | 3,000,000 | 27,971,000 | 10,000,000 | 5,000,000 | 13,000,000 | 12,196,000 | 3,000,000 | 9,696,000 | ||||||
repayments of debt | -88,081,000 | -106,969,000 | -1,320,000 | -100,195,000 | -25,681,000 | -680,000 | -195,000 | -5,195,000 | -2,793,000 | -6,793,000 | -6,195,000 | -12,601,000 | -1,094,000 | -19,169,000 | -2,195,000 | ||||
repayment of finance leases | -194,000 | -155,000 | -152,000 | -101,000 | -126,000 | -122,000 | -122,000 | -116,000 | -119,000 | -113,000 | -107,000 | -98,000 | -77,000 | ||||||
proceeds from (repayment of) third-party advances | |||||||||||||||||||
proceeds from issuance of common stock | 65,318,000 | 180,564,000 | 9,122,000 | 2,123,000 | 16,000 | 1,157,000 | 0 | 1,734,000 | |||||||||||
payment of equity issuance costs | -1,620,000 | -45,000 | |||||||||||||||||
payments of debt issuance costs to third-parties | -2,144,000 | ||||||||||||||||||
net cash from financing activities | 63,075,000 | 70,577,000 | 3,430,000 | 269,299,000 | 54,190,000 | 3,436,000 | 33,351,000 | 4,897,000 | 2,032,000 | 6,766,000 | 5,730,000 | -1,199,000 | -2,237,000 | 59,705,000 | 8,778,000 | 10,184,000 | -2,107,000 | -1,328,000 | 75,486,554 |
effect of foreign currency rate changes on cash, cash equivalents and restricted cash | -345,000 | 393,000 | 153,000 | 376,000 | 96,000 | -374,000 | |||||||||||||
net increase in cash, cash equivalents and restricted cash | 50,028,000 | 40,855,000 | -24,231,000 | 24,338,000 | 5,150,000 | 5,977,000 | |||||||||||||
cash, cash equivalents and restricted cash at beginning of period | 95,183,000 | 0 | 0 | 0 | 49,071,000 | 0 | |||||||||||||
cash, cash equivalents and restricted cash at end of period | 145,211,000 | 40,855,000 | -24,231,000 | 24,338,000 | 54,221,000 | 5,977,000 | |||||||||||||
loss on sale of joint ventures | 0 | 0 | |||||||||||||||||
loss on change in fair value of committed equity facility | 76,000 | 245,000 | 40,000 | -106,000 | |||||||||||||||
impairment expense | 16,161,000 | 0 | |||||||||||||||||
income from equity method investments | |||||||||||||||||||
non-cash lease expense | 426,000 | 328,000 | -339,000 | 73,000 | 204,000 | 1,000 | 10,000 | 12,000 | 79,000 | 145,000 | 77,000 | 26,000 | 35,000 | 42,000 | 71,000 | 116,000 | |||
non-cash interest expense | 0 | 0 | 141,000 | 384,000 | 420,000 | ||||||||||||||
purchase accounting fair value adjustment related to inventory | 0 | ||||||||||||||||||
acquisition of businesses, net of cash acquired | 0 | 0 | -85,000 | -1,823,000 | |||||||||||||||
net proceeds from sale of joint ventures | 0 | 0 | |||||||||||||||||
payment of debt issuance fees | 0 | 0 | |||||||||||||||||
payments of issuance costs related to convertible preferred stock | 0 | 0 | 0 | -52,000 | |||||||||||||||
shares repurchased for settlement of employee tax withholdings on share-based awards | -1,006,000 | -2,755,000 | -885,000 | -1,681,000 | 0 | -56,000 | -322,000 | ||||||||||||
payment of contingent earnout | 0 | 0 | 0 | -443,000 | 0 | ||||||||||||||
repurchase of convertible preferred stock | -1,000 | -2,376,000 | |||||||||||||||||
repayments of third-party advances | 0 | 0 | -7,820,000 | ||||||||||||||||
proceeds from issuance of common stock for warrants exercised | 82,862,000 | ||||||||||||||||||
decrease in prepaid insurance | 316,000 | -713,000 | 109,000 | 396,000 | 221,000 | -668,000 | 777,000 | 827,000 | 806,000 | -2,354,000 | 1,060,000 | 1,067,000 | 987,000 | ||||||
payment of debt issuance fees to third parties | 0 | -458,000 | -107,000 | -377,000 | |||||||||||||||
proceeds from third-party advances | 0 | ||||||||||||||||||
payment of committed equity facility transaction costs | 0 | 0 | 0 | -571,000 | 0 | -80,000 | |||||||||||||
effect of foreign currency rate changes on cash and cash equivalents | -39,000 | -138,000 | 75,000 | -180,000 | 62,000 | 41,000 | 358,000 | -22,000 | -46,000 | -18,000 | 77,000 | ||||||||
net increase in cash and cash equivalents | -1,737,000 | 2,291,000 | 19,419,000 | -372,000 | -42,000 | -17,043,000 | 21,285,000 | -3,848,000 | 4,941,000 | -14,585,000 | -6,735,000 | ||||||||
cash and cash equivalents at beginning of period | 0 | 30,278,000 | 0 | 0 | 0 | 28,316,000 | 0 | 0 | 0 | 20,523,000 | 0 | ||||||||
cash and cash equivalents at end of period | -1,737,000 | 32,569,000 | 19,419,000 | -372,000 | -42,000 | 11,273,000 | 21,285,000 | -3,848,000 | 4,941,000 | 5,938,000 | -6,735,000 | ||||||||
proceeds from issuance of convertible preferred stock | |||||||||||||||||||
net income attributable to redwire corporation | -6,253,000 | -5,464,000 | -7,258,000 | ||||||||||||||||
net income attributable to noncontrolling interests | -72,000 | ||||||||||||||||||
net cash from by operating activities | 2,844,000 | -14,048,000 | -4,828,000 | -11,245,000 | -4,138,000 | -11,446,000 | -3,033,000 | ||||||||||||
increase in notes payable to seller | -557,000 | 0 | |||||||||||||||||
contingent earnout expense not yet settled | 110,000 | ||||||||||||||||||
earnout settlement in holdings’ equity | 0 | ||||||||||||||||||
gain on change in fair value of warrants | |||||||||||||||||||
settlement of related party receivable | 0 | ||||||||||||||||||
payments for the merger transaction costs | 0 | ||||||||||||||||||
proceeds from the merger | 0 | ||||||||||||||||||
discount on common stock issued under the committed equity facility | 193,000 | ||||||||||||||||||
change in fair value of warrants | -850,000 | -16,393,000 | 1,238,000 | 309,000 | |||||||||||||||
cash paid during the period for: | |||||||||||||||||||
interest | 1,350,000 | 1,409,000 | 1,404,000 | ||||||||||||||||
income taxes | |||||||||||||||||||
supplemental schedule of non-cash investing and financing activities: | |||||||||||||||||||
holdings’ contribution for acquisition of businesses | 38,536,000 | ||||||||||||||||||
capital expenditures not yet paid | 39,000 | 1,213,000 | 1,532,000 | ||||||||||||||||
committed equity facility transaction costs not yet paid | |||||||||||||||||||
repayments of loans | -1,337,000 | -5,335,000 | |||||||||||||||||
payment of loan fees to third parties | -770,000 | 0 | |||||||||||||||||
proceeds received from loans | 4,007,000 | ||||||||||||||||||
holdings’ contribution non-cash | |||||||||||||||||||
loss on disposal of property and equipment | |||||||||||||||||||
advance to related party | |||||||||||||||||||
holdings’ contribution | |||||||||||||||||||
earnout settlement | 0 | ||||||||||||||||||
purchase of intangible assets settled by holdings | |||||||||||||||||||
initial fair value of warrants at closing of merger | |||||||||||||||||||
purchases of intangible assets | |||||||||||||||||||
initial fair value of warrants at closing | |||||||||||||||||||
interest earned on marketable securities held in trust account | |||||||||||||||||||
change in fair value of warrant liability | |||||||||||||||||||
changes in current assets and current liabilities: | |||||||||||||||||||
prepaid expenses and other current assets | |||||||||||||||||||
accounts payable | |||||||||||||||||||
due to related party | |||||||||||||||||||
net change in cash | |||||||||||||||||||
cash, beginning of the period | |||||||||||||||||||
cash, end of period | |||||||||||||||||||
supplemental disclosure of non-cash financing activities: | |||||||||||||||||||
non-cash investing and financing transactions: | |||||||||||||||||||
change in value of class a ordinary shares subject to possible redemption | |||||||||||||||||||
• | |||||||||||||||||||
changes in current assets and liabilities: | |||||||||||||||||||
accrued offering costs and expenses | |||||||||||||||||||
proceeds from issuance of promissory note - related party | |||||||||||||||||||
payment of deferred offering costs | |||||||||||||||||||
cash - beginning of the period | |||||||||||||||||||
cash - end of the period | |||||||||||||||||||
supplemental disclosure of noncash investing and financing activities: | |||||||||||||||||||
deferred offering costs included in accrued offering costs and expenses | |||||||||||||||||||
deferred offering costs paid by sponsor in exchange for issuance of class b ordinary shares | |||||||||||||||||||
offering costs included in due to related party |