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Redwire cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$65.3M in Q3 2026 · −$137M over twelve months

Operating cash flow−$63.6M
Capital spending−$1.8M
Free cash flow−$65.3M
Cash conversion cycle75 days

Analysis

In Q3 2026, Redwire generated −$63.6M of operating cash flow and spent $1.8M on capital projects, leaving free cash flow of −$65.3M. That is $38.5M less than in Q3 2025 (−$26.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$119M; the largest uses were net borrowing (+) / repaid (−) ($149M), operating cash flow ($119M), capital spending ($17.2M); besides operations, cash came from shares issued ($747M); the cash balance rose by $435M.

Operating cash flow was −$63.6M against net income of −$23.2M. The largest differences: inventory −$15.4M, deferred revenue −$14.7M, contract assets −$12.8M.

Its cash conversion cycle was 75 days (receivables 24 + inventory 115 − payables 64).

Free cash flow

Redwire: free cash flow by quarterRedwire: free cash flow by quarter$4.7MQ4 2024−$46.9MQ1 2025−$90.6MQ2 2025−$26.9MQ3 2025−$26.5MQ4 2025−$11.4MQ1 2026−$33.5MQ2 2026−$65.3MQ3 2026
Operating cash flow less capital spending.
Redwire: operating cash flow against capital spendingRedwire: operating cash flow against capital spendingOperating cash flowCapital spending$7.1M$2.3MQ4 2024−$45.1M$1.8MQ1 2025−$87.7M$3.0MQ2 2025−$20.3M$6.5MQ3 2025−$24.3M$2.2MQ4 2025−$6.7M$4.8MQ1 2026−$24.9M$8.5MQ2 2026−$63.6M$1.8MQ3 2026
Latest (Q3 2026): Operating cash flow −$63.6M, Capital spending $1.8M.

Capital allocation, year by year

Redwire: where the cash came from (up) and went (down), by fiscal yearRedwire: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$37.4MFY2021: Net borrowing $224KFY2021: Capital spending −$2.1MFY2021: Acquisitions −$40.6M$224KFY2021FY2022: Operating cash flow −$31.7MFY2022: Net borrowing −$1.0MFY2022: Shares issued $84.2MFY2022: Capital spending −$3.6MFY2022: Acquisitions −$33.2M$84.2MFY2022FY2023: Operating cash flow $1.2MFY2023: Net borrowing $9.5MFY2023: Shares issued $1.2MFY2023: Capital spending −$5.6M$12.0MFY2023FY2024: Operating cash flow −$17.3MFY2024: Net borrowing $36.5MFY2024: Shares issued $2.7MFY2024: Capital spending −$6.4MFY2024: Acquisitions −$881K$39.2MFY2024FY2025: Operating cash flow −$177MFY2025: Net borrowing −$43.7MFY2025: Shares issued $518MFY2025: Capital spending −$13.5MFY2025: Acquisitions −$152M$518MFY2025
Over these 5 years operating cash flow totalled −$262M; the largest uses were operating cash flow ($264M) and acquisitions ($226M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$488M
Debt$47.0M
Net cash$441M
Due within a year$5.2M
Cash runway3.6 years

Redwire is burning cash: its operations consume cash, a free cash flow of −$137M a year at the current rate against $488M of cash and investments: a runway of about 3.6 years; $5.2M of debt also comes due within a year, which the cash covers before any new financing.

Redwire: debt maturities by year (FY2025)Redwire: debt maturities by year (FY2025)$5.2MYear 1$83.2MYear 2
Principal due in each year as disclosed in the annual report, against $488M of cash and investments now.

Where the cash came from and went

Redwire: sources (+) and uses (−) of cash, Q3 2026Redwire: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$68.9MOperating cash flow−$63.6MCapital spending−$1.8MNet borrowing (+) / repaid (−)−$1.3MOther investing−$1.0MTaxes on employees’ shares−$965KOther financing−$461KShares issued$427KExchange rates−$185K
Redwire: sources (+) and uses (−) of cash, TTM to Q3 2026Redwire: sources (+) and uses (−) of cash, TTM to Q3 2026Shares issued$747MCash drawn (+) / kept (−)−$435MNet borrowing (+) / repaid (−)−$149MOperating cash flow−$119MCapital spending−$17.2MOther financing−$16.8MOther investing−$7.8MTaxes on employees’ shares−$2.0MExchange rates−$675K

From profit to cash

Redwire: net income to operating cash flow, Q3 2026Redwire: net income to operating cash flow, Q3 2026Net income−$23.2MDepreciation & amortization$11.2MStock-based pay$6.3MDeferred taxes−$477KOther non-cash$1.7MReceivables−$1.4MInventory−$15.4MPayables−$6.4MDeferred revenue−$14.7MContract assets−$12.8MPrepaid and other assets−$3.7MOther liabilities−$4.2MOperating cash flow−$63.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026241156475
Q2 202620835251
Q1 202629794761
Q4 202529513149
Q3 202531603951
Q2 202538343835
Q1 202527452-21
Q4 202429337-4

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$63.6M−$1.8M—−$1.3M$427K$68.9M−$65.3M
Q2 2026−$24.9M−$8.5M—−$41.7M$501M−$413M−$33.5M
Q1 2026−$6.7M−$4.8M—$1.5M$65.3M−$50.0M−$11.4M
Q4 2025−$24.3M−$2.2M—−$107M$181M−$40.9M−$26.5M
Q3 2025−$20.3M−$6.5M—−$589K$9.1M$24.2M−$26.9M
Q2 2025−$87.7M−$3.0M—$85.0M$246M−$24.3M−$90.6M
Q1 2025−$45.1M−$1.8M—−$20.8M$82.9M−$5.2M−$46.9M
Q4 2024$7.1M−$2.3M−$85K$2.2M$2.1M−$6.0M$4.7M

Redwire: income statement and cash flow

Redwire, Q3 2026: revenue $109M (+5% year over year), operating margin -24.1%. The chart follows the revenue to costs, profit and cash.

Redwire: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.