Redwire Posts Record Revenue and Gross Margins on Defense Tech Demand
Event summary
- Redwire reported Q2 2026 revenue of $117.1M, up 89.6% YoY, with gross margins improving to 27.8%.
- Contracted backlog reached a record $542.1M, supported by defense tech awards including Stalker Block 30 and Penguin UAS contracts.
- Adjusted EBITDA improved by $24.2M YoY to $(3.2)M, despite $12.5M in R&D expenses.
- Total liquidity grew 366.9% YoY to $607.8M as of June 30, 2026.
The big picture
Redwire's Q2 2026 results highlight the growing intersection of defense and space technology, with demand for autonomous systems and ISR payloads driving record financials. The company's ability to scale while maintaining profitability will be critical as it navigates a competitive landscape and integrates new facilities. With a strengthened balance sheet and strategic investments in R&D, Redwire is positioning itself to capitalize on long-term trends in multi-domain operations.
What we're watching
- Execution Risk
- Whether Redwire can sustain its operational momentum amid rapid growth and integration challenges.
- Defense Demand
- How sustained U.S. and NATO defense spending will impact backlog conversion rates.
- Space Tech Scaling
- The pace at which Redwire can expand its pharmaceutical research capabilities in orbit.
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