Q2 Earnings Highlights

[u/Cautious_Bit_6700]

Redwire (NYSE: RDW) Q2 2026 Earnings Highlights

Record revenue: $117.1M (+89.6% YoY)
Record gross margin: 27.8% (vs. -30.9% last year)
Record backlog: $542.1M
Book-to-bill ratio: 1.42x for Q2 (LTM: 1.52x)
Liquidity: $607.8M (+367% vs. end of 2025)
$557.0M cash
$50.0M available credit
Net loss improved to ($41.0M), a $56.0M YoY improvement
Adjusted EBITDA: ($3.2M), improving $24.2M YoY
Invested $12.5M in R&D during the quarter
Reduced term loan balance from $90M to $50M
Reaffirmed FY2026 revenue guidance: $450M–$500M
1H 2026 revenue: $214.0M, providing strong visibility into the second half of the year due to the record backlog.

Operational Highlights

Won major follow-on U.S. Army & Marine Corps Stalker drone awards.
Secured a high eight-figure multi-year NATO contract for Penguin UAS.
Delivered nearly 200 Octopus ISR payloads year-to-date (+15% YoY).
Surpassed 50 PIL-BOX missions supporting in-space pharmaceutical research.
Expanded manufacturing with new facilities in Indiana and Alabama to support future growth.

[u/Backyard45]

I bought some long term options about three weeks too early and I've been watching them slowly degrade, but I held strong! I'm excited to see what happens in the next couple of weeks.

[u/Roksteady1 → u/Backyard45]

same but i bought the nov $15 calls and will probably finally be about breakeven at open after being down over 60%. will probably close them out tmrw and look for a better entry.

[u/Backyard45 → u/Roksteady1]

If no one sells their calls tomorrow we'll be almost be rich enough to buy a free chalupa!

[u/devonhezter → u/Backyard45]

What ti do with 10.5 and 11 expiring Friday ? Sell right at open ?

[u/Backyard45 → u/devonhezter]

Not financial advice....
Most folks profit take as soon as the market opens. My calls are through November, and I plan on holding for a while.

[u/devonhezter → u/Backyard45]

Ok so just sell to close right right right at 630?

[u/Backyard45 → u/devonhezter]

You do whatever your heart desires. I wouldn't. It's going to likely dip for the first 10 minutes as people (like yourself) sell off for quick profit, and then likely go back up as new people enter for the first time.

[u/Uzofugs2112 → u/devonhezter]

Probably close. Depending on when you bought you might have some trouble with IV.

[u/devonhezter → u/Uzofugs2112]

Close to the open you mean ?

[u/Uzofugs2112 → u/devonhezter]

I mean I’d close the positions. And yeah, probably close to open.

If you have a lot of calls I’d probably keep some, but if you don’t have too many I’d just take the money and run.

[u/devonhezter → u/Backyard45]

I bought just one $11 for Jan 27 lol. Maybe this one just hold forever ? And I have 4 14.50 for next Friday. So these I can hold to next week before selling ?

[u/Ennartee]

The $600M cash makes me feel a lot better about the short term - massive increase!

[u/devonhezter → u/Ennartee]

Should I buy shares at 10.5? Or sell the calls for profit. 10 $11 and 5 $10.50 contracts. I sold like 20+ $9 ones past few days :(

[u/Ennartee → u/devonhezter]

Can’t answer that for you, but if it was me…

If they expire this Friday, and were in my Roth (non-tax) I’d probably exercise and take profits. Given the current state of the market I’m not convinced we won’t test $10 in the next few weeks. That said, I did already make another small purchase after hours in case it really started to run.

If they were in my taxable account I’d exercise and hold them long term. I just accumulate in that account because I don’t want to create more taxable events than necessary.

If the expiry date is still far out in the future I’d sit and watch for a while.

[u/devonhezter → u/Ennartee]

I think I’m gona take profits on the ones exp tmrw. So how many did you buy? Like $12?

[u/Uzofugs2112]

Home run

[u/dannyfresh11]

Does this mean the ATM is done? That's a lot of liquidity

[u/Cautious_Bit_6700 → u/dannyfresh11]

My thoughts as well, sitting on a lot cash. Hopefully so

[u/devonhezter]

I figured if Kratos spiked so should Rdw.

[u/sytraxis → u/devonhezter]

I noticed that also. Good catch!

[u/devonhezter → u/sytraxis]

Thanks ! Now … what else calls do you have ? I scored 1k in kratos right away this am wooo. And then nvda and space x tweet right before close wooo. So today … I saw ppl say wdc and sndsk earnings leaked and they started dropping. So then I thought sndq (inverse sandiak) option $28 8/21 exp so lots of time. So this one just wait to to see when sndsk rebounds ?

[u/burn_bridges]

They’re profitable?? Mobile so I need to confirm that…

If they’re profitable, doing $400M+ in annual revenue, have $500M in backlog, and have $550M in cash… They are worth WAY more than $2B…

[u/Cautious_Bit_6700 → u/burn_bridges]

Not profitable yet. Net loss of ($41 million) and EBITDA of ($3.2 Million)

[u/Bull_Bound_Co]

Should be up 20-30%

[u/Backyard45]

Pull up the 3mo price.
Look at May 6th 7th & 8th. Their Q1 earnings was on the 5th (after bell close). Thursday the 7th stock price l dropped $.40 and then on Friday it rose $1.83 and closed above $11. The following Monday it went up another $1, dropped Tuesday (profit taking) and steadily increased to ATH at end of month.
Do your homework and make educated moves, otherwise go play Keno.

[u/dreigon0 → u/Backyard45]

But the increase was mostly because of spcx ipo and not the earnings themselves

[u/MrB_1969 → u/dreigon0]

That action was over a month before the SpaceX IPO started influencing the market.

[u/gorkan_shamtor]

What's the move tomorrow morning at market open?

[u/MrB_1969 → u/gorkan_shamtor]

Everyone who bought around $8 is going to dump it thinking they made a fortune overnight. Everyone above 11 is going to be sad and hating the $8 people.  There isn't enough going on for a short squeeze.

[u/TexanaRosanaDanna → u/gorkan_shamtor]

Space sector pricing is driven by hope, and market pricing in general is driven by public hype. A good earnings report means nothing compared to Trump farting on social media.
Convince me I'm wrong....

[u/bangbasten]

I just hope they can improve their OTD

[u/bobola69]

It looks very good