Redwire: A Flicker in the Dark

Redwire Corporation (RDW +8.47%). The name sounded like something out of a pulp magazine. Turns out, the stock moved like one today – a sudden jump. Ten point eight percent through the morning. The earnings report dropped last night. Mixed, they called it. I call it a story with angles. A flicker in the dark, maybe.

The street expected a loss. Eighteen cents a share. They got fifty-eight. Three times worse. Numbers are just numbers until they tell a story. Redwire delivered a sales figure that hit $108.8 million. Strong enough to make investors forget the red ink, at least for a few hours.

Seems the market has a short memory. Or a fondness for lost causes with a pulse.

The Devil in the Details

CEO Cannito talked about an “acceleration in contract awards.” That’s analyst-speak for “we finally landed something.” A $44 million deal with DARPA – the “Otter mission.” Air-breathing satellites. Sounds like science fiction. They’re also shipping drones – Stalker/Penguin, they call them – to seven countries. A little bird told me those things aren’t cheap.

Sales jumped fifty-six percent. Full-year revenue hit $335.4 million. Not bad for a company that still feels like a long shot. The book-to-bill ratio is climbing – past 1.3, then 1.5 in the last quarter. That’s future business, assuming they can deliver. The loss? Eighty-five point five million for the quarter. Two hundred and twenty-six point six million for the year. They blamed it on “non-recurring activity.” Everyone blames something.

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A Gamble in Orbit?

Redwire is looking at $450 to $500 million in sales for 2026. Forty-two percent growth. That’s a headline number, but the devil’s always in the details. They’ll probably still be losing money. Burning cash. Analysts don’t see a profit until 2027, at the earliest. That’s a long time to wait for a payoff.

But sales are accelerating. And in this business, momentum is everything. It’s a gamble, sure. A long shot in orbit. But sometimes, the long shots are the ones that pay off. I’m watching this one. It feels like a story that’s just getting started. A dark one, maybe. But with a glimmer of something… interesting.

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2026-02-26 20:24