TLDR
- Redwire posted Q2 revenue of $117.1 million, up 89.6% year-over-year, beating Wall Street estimates of ~$107-108 million
- Loss per share came in at $0.09-$0.19, better than the expected $0.15-$0.16 loss
- Contracted backlog hit a record $542.1 million, up 64.5% year-over-year
- Cantor Fitzgerald raised its price target from $9.00 to $13.50, maintaining an Overweight rating
- Redwire reaffirmed full-year 2026 revenue guidance of $450 million to $500 million
Redwire (RDW) stock jumped more than 13% on Thursday morning, trading at $12.19, after the company posted a strong second-quarter earnings beat following Wednesday’s closing bell.
Q2 revenue came in at $117.1 million, up 89.6% year-over-year. That topped Wall Street’s consensus estimate of around $107 to $108 million by nearly 8.7%.
On the bottom line, Redwire reported a loss of between $0.09 and $0.19 per share. Analysts had expected a loss of around $0.15 to $0.16. That was a solid step forward from the $0.40 loss per share reported in Q1 2026.
Q2 Earnings Results ✅
Redwire Achieves Record Revenue, Gross Margins, and Contracted Backlog.
📈 89.6% revenue growth YOY
✨ Record $542.1M backlog
💰 $607.8M in total liquidity
💊 Announced SpaceMD first commercial mission with @SpaceX Starfall, expanding commercial… pic.twitter.com/sDrEOKIdYs
— Redwire (@Redwire) August 6, 2026
The quarter also marked new record highs for both revenue and gross margin. Gross margin turned positive at 27.8%, a clear turnaround from prior periods.
CEO Peter Cannito called out the execution behind the numbers. “With new record highs for both revenue of $117.1 million and gross margin of 27.8%, Redwire’s second quarter of 2026 was defined by successful execution,” he said.
CFO Chris Edmunds pointed to $214.0 million in first-half revenue as giving the company strong visibility into the second half of the year.
Record Backlog Signals Strong Demand
Contracted backlog climbed to a record $542.1 million, up 64.5% year-over-year. The quarterly book-to-bill ratio came in at 1.42, with the trailing 12-month ratio at 1.52.
A book-to-bill ratio above 1.0 means the company is booking more new business than it is recognizing as revenue, a sign demand is running well ahead of current output.
Redwire also reaffirmed its full-year 2026 revenue guidance of $450 million to $500 million, giving investors a clear target heading into the second half.
Wall Street Raises the Bar
Cantor Fitzgerald analyst Colin Canfield maintained an Overweight rating on RDW while raising his price target from $9.00 to $13.50.
Jefferies had already raised its price target from $13 to $24 back in June, though it moved to a Hold rating at that time.
The broader market gave Redwire little help. The S&P 500 edged up 0.1%, the Dow added 0.2%, and the Nasdaq dipped 0.6% in pre-market trading. The move in RDW was all its own.
Thursday’s gain pulled the stock further off recent lows, though it still trades well below its 52-week high of $26.64.
An earnings conference call with management was scheduled for 9 a.m. ET on August 6 to discuss results and the forward outlook.
RDW was up 13.71% at $12.19 at the time of publication on Thursday.
