RDW - Redwire cheers FY21 revenue estimates uncontracted backlog

Redwire (NYSE:RDW) trades 5.3% higher premarket after it expects to generate between $135 and $140M in total GAAP revenue and between $146 and $151M in total pro forma revenue for the year ended Dec. 31, 2021, giving effect to the completed 2021 acquisitions. Analysts consensus estimates for revenue stands at $153M. The results represent ~160% GAAP revenue growth and ~30% pro forma revenue growth for the year. As of Dec.31, 2021, contracted backlog is expected to be between $133 and $138M and our uncontracted backlog is expected to be between $136 and $138M for a total backlog of between $269 and $276M. The company achieved a number of significant technical and business milestones in 4Q21 and to date in 2022. Techshot acquisition and integration, successful deployment of a Redwire Digital Sun Sensor system and two Redwire Roll-Out Solar Arrays, successful delivery of Redwire’s L-Band Link-16 Helical Antenna system are a few technical and commercial achievements.

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Redwire cheers FY21 revenue estimates, uncontracted backlog