16.9 C
New York
Tuesday, May 24, 2022

Redwire Corporation (RDW) stock plunged in the Pre-market; here is why?

Redwire Corporation (RDW) stock declined in the pre-market after announcing fiscal 2021 results. RDW’s stock price is $6.89, losing more than 18% from the previous closing price. RDW stock closed at $8.48 at the end of the last trading session. RDW stock volume traded in the previous trading session was around 328.18K shares. The current market cap of the company is about $505.93 million.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .


RDW: Fiscal 2021 Results

  • Redwire Corporation (RDW) announced revenue of $137.6 million in fiscal 2021, gaining more than237% from the 2020 revenue of $40.8 million.
  • Adjusted EBITDA for Redwire grew by $0.8 million to $1.3 million in fiscal 2021.
  • The company’s net loss was $61.5 million in 2021, while in 2020, the net loss remained far low at $14.3 million.
  • RDW diluted, and per-share loss was $1.36 in 2021, increasing from $0.39 in 2020.
  • As of December 31, 2022, the company had cash and cash equivalents of $20.5 million.

RDW CEO’s Remarks

Redwire Chairman and CEO Peter Cannito said that the business continues to provide the basic technology for the current and future space infrastructure. We have a competitive advantage in the market because of our long history, world-class team of specialists, market leadership position in In Space 3D Printing Manufacturing and Biotechnology, and a wide range of patented space goods.

RDW: Business Updates

  • Redwire commenced trading on NYSE on September 3, 2021.
  • To assist Virgin Orbit and Terran Orbital’s steadily rising launch, Redwire became their strategic mission partner.
  • Redwire supplied NASA’s Geostationary Operational Environmental Satellite with six Coarse Sun Sensors and a Fine Sun Sensor Assembly.
  • Redwire has designed a new in-space-produced telescope employing Archinaut technology named as Optimast SCI. It has been designed by Redwire under contract with NASA. It can see more asteroids at better resolutions than the Hubble Telescope.

RDW 2022 Outlook

Redwire estimates revenues to be between $165 million to $195 million for fiscal 2022. According to company, Adjusted EBITDA will be around $8 million to $15 million.

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles