RDW - Redwire plunges 28% after Q4 earnings miss

Redwire (RDW -28.3%) plummets after Q4 total GAAP revenue missed by $15.4M and Pro forma revenue was $149.3M. Analysts consensus estimates for 2022 revenue stands at $230M. The results represent ~237% GAAP revenue growth and ~17.6% pro forma revenue growth for the year. Total backlog as of Dec. 31, 2021, which includes both contracted and uncontracted backlog, was $271.6M, providing substantial visibility into future revenue growth. On March 25, 2022, the Adam Street Partners Senior Secured Revolving Credit Facility was upsized from $5M to $25M, providing enhanced liquidity. With significant new business wins, order volume and robust backlog demonstrate strength and breadth of Redwire’s breakout space infrastructure solutions. The Co. confirms no material misstatements or restatements of previously filed financial statements following completion of investigation. 2022 Guidance: Expects sales to be in a range of ~$165-195M missing consensus of $230M and Pro forma Adjusted EBITDA to be in a range of ~$8-15M. Previously: Redwire GAAP

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Redwire plunges 28% after Q4 earnings miss