Redwire’s Q4 Revenue Surges 56.4% to $108.8M, Record $411.2M Backlog
Redwire’s 2025 revenue rose 10.3% to $335.4M, while Q4 revenue surged 56.4% to $108.8M on the Edge Autonomy acquisition and a record $411.2M backlog. The company held $130.2M liquidity, repaid $105.5M debt, refinanced for $17M annual interest savings, and reported a $226.6M net loss with $130M non-recurring charges.
1. Strong Revenue Growth and Record Backlog
Redwire’s full-year 2025 revenue increased 10.3% to $335.4 million, while fourth-quarter revenue jumped 56.4% to $108.8 million. The company attributed the surge to higher contract awards and the June 2025 acquisition of Edge Autonomy, resulting in a record contracted backlog of $411.2 million and book-to-bill ratios of 1.32 for the year and 1.52 in Q4.
2. Continued Net Losses and EAC Impact
The company reported a full-year net loss of $226.6 million, including $130 million of non-recurring charges, and a fourth-quarter net loss of $85.5 million with $40 million in one-time items. Adjusted EBITDA remained negative at $(50.3) million for the year and $(18.1) million in Q4, reflecting EAC adjustments on development-stage programs and a focus on transitioning projects into production to improve margins.
3. Enhanced Liquidity and Debt Reduction
Redwire closed 2025 with $130.2 million of liquidity and used at-the-market proceeds in Q4 to repay $105.5 million of debt. The company refinanced its remaining credit facility in February 2026, expected to generate over $17 million in annualized interest savings and strengthen its balance sheet.