Filing Flows › Redwire (RDW) › Q1 2026
Redwire (RDW) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Redwire (RDW) reported revenue of $97.0M for the first quarter 2026 (Q1 2026), +58% from a year earlier and -11% from the quarter before. Operating margin was -71.9%, net loss $76.5M (78.9% of revenue).
Redwire, Q1 2026: revenue $97.0M (+58% year over year), operating margin -71.9%, net loss $76.5M, operating cash flow −$6.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $97.0M | -11% | +58% |
| Operating profit | −$69.7M | — | — |
| Net earnings | −$76.5M | — | — |
| Operating cash flow | −$6.7M | — | — |
What changed
Revenue was $97.0M in Q1 2026, up 58% year over year and down 11% from the previous quarter. Space was the largest line at 54% of revenue. Defense Tech added $35.0M year over year (up 378%), 98% of the total change.
Gross margin was 26.6%, up 11.9 points from Q1 2025. Operating costs exceeded revenue by $69.7M, an operating margin of -71.9%. Operating expenses grew 309% against revenue growth of 58%. The fastest-growing cost line was Research & development (+1448%). The quarter ended with a net loss of $76.5M, narrower than the previous quarter's $85.5M loss.
Operating cash flow was −$6.7M. Non-cash charges added back $11.2M of depreciation and amortization and $46.7M of share-based compensation. Working capital and other items added $11.9M. Capital expenditures of $4.8M exceeded it, leaving free cash flow of −$11.4M.
Questions
What was Redwire's revenue in the first quarter 2026?
Redwire (RDW) reported revenue of $97.0M for the first quarter 2026 (Q1 2026), +58% from a year earlier and -11% from the quarter before.
Was Redwire profitable in the first quarter 2026?
Operating loss was $69.7M (-71.9% of revenue) and net loss $76.5M.
Source: Redwire 10-Q on SEC EDGAR.