RDW — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• Redwire’s Space segment focuses on delivering next-generation spacecraft, large space infrastructure, and microgravity capabilities to serve civil, national security, and commercial space customers globally. Our core space offerings are flight-proven and have supported hundreds of spacecraft, missio…

• Redwire’s Defense Tech segment focuses on delivering combat-proven autonomous systems, optical sensors, advanced optics, resilient energy solutions and radio frequency payloads that provide intelligence, surveillance, and reconnaissance capabilities for customers including the U.S. Department of War…

• •Gross margin increased to 27% for the three months ended March 31, 2026 from 15% during the same period in 2025.

• •Awarded a $12.8 million contract to deliver Extensible Low-Profile Solar Array (“ELSA”) wings to Moog, Inc. marking the first sale of ELSA, a new high-performance, low-mass solar array product.

• •Received purchase orders totaling more than $20.0 million during the first quarter supporting the Portfolio Acquisition Executive Robotic Autonomous Systems Aircraft Program Management Office Family of Small UAS Team, encompassing the Marine Corps’ first acquisition of the Advanced Navigation versi…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Our core space-based offerings have been enabling space missions since the 1960s and have been flight-proven on over 200 spaceflight missions, including the National Aeronautics and Space Administration’s (“NASA”) Artemis program, New Horizons and Perseverance, the Space Forces’ GPS, and the Europea…

• Our field-proven core airborne offerings have decades of innovation and more than 400 thousand flight hours. Key operations include developing and manufacturing Uncrewed Aerial Systems (“UAS”) for commercial, government, and military applications in areas such as surveillance, logistics, reconnaissa…

• •Selling, general and administrative expenses as a percentage of revenues increased to 49% for the three months ended September 30, 2025 from 26% during the same period in 2024.

• •The Company was awarded a contract to develop and deliver Roll-Out Solar Arrays for Axiom Space’s first commercial space station module.

• •The Company’s UAS deliveries during the three months ended September 30, 2025 included Stalker systems for the U.S. Army’s Long Range Reconnaissance program and Penguin systems for the Ukrainian Armed Forces.

Text added vs the prior filing · source: 10-Q · 2026-05-07

• We do not engage in speculative transactions, nor do we hold or issue financial instruments for trading purposes. In connection with the financing of our business, we have entered into variable rate term loans and revolver facilities, and, at March 31, 2026, we are exposed to interest rate risk on b…

• We may periodically enter into financial instruments to manage this risk, although we have not done so historically.

• We have exposure to various foreign currency exchange rate fluctuations for revenues and costs generated by our operations outside the U.S., which can adversely impact our net income and cash flows. Approximately 33% of our total revenues in the first quarter of 2026 and approximately 17% of our tot…

• currency exchange risk. We estimate that a hypothetical 10% adverse change in the foreign currency rates for our international markets would have resulted in a negative impact on revenues of approximately $3.1 million in the first quarter of 2026.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• The Company is a smaller reporting company and is not required to provide the information required under this Item 3.

Text added vs the prior filing · source: 10-Q · 2026-05-07

• We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in t…

• Notwithstanding such material weaknesses in our internal control over financial reporting, our management, including our principal executive officer and principal financial officer, concluded that our consolidated financial statements in this Quarterly Report on Form 10-Q present fairly, in all mate…

• Material Weakness in Internal Control Over Financial Reporting

• Management identified the following material weaknesses in internal control over financial reporting as of March 31, 2026:

• •For all of our U.S. operations, we designed process-level control activities pervasive across our financial reporting processes, but we were unable to fully deploy those process-level control activities with sufficient time to demonstrate their operating effectiveness.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Our management, with the participation of our principal executive officer and principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures, which are designed to ensure that the information required to be disclosed in reports that we file or submit under the…

• Material Weaknesses in Internal Control over Financial Reporting

• In connection with the Company’s evaluation of internal control over financial reporting, the following material weaknesses have been identified:

• •We have not consistently established appropriate authorities and responsibilities in pursuit of financial reporting objectives, as demonstrated by, among other things, insufficient segregation of duties in our finance and accounting functions.

• •We did not design and maintain formal accounting policies, procedures and controls to achieve complete, accurate and timely financial accounting, reporting and disclosures, including controls over the preparation and review of business performance reviews, account reconciliations, journal entries a…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• We are providing the folloing disclosure in lieu of filing a Current Report on Form 8-K under Items 1.01 and 1.02.

• On May 6, 2026, Redwire Corporation (the “Company”), entered into an Equity Distribution Agreement (the “2026 ATM Agreement”) by and between the Company, Truist Securities, Inc., J.P. Morgan Securities LLC, BofA Securities, Inc., TCBI Securities, Inc., doing business as Texas Capital Securities, A.G…

• For sales of Shares through the Agents, the Company will pay the Agents a commission of up to 3% of the gross sales price per Share. The Company may also sell Shares to the Agents as principal for the Agents’ own account at a price agreed upon at the time of sale. If the Company sells Shares to the …

• The 2026 ATM Agreement contains customary representations and warranties of the parties and indemnification and contribution provisions under which the Company and the Agents have agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act.

• The Shares will be offered and sold pursuant to a shelf registration statement on Form S-3ASR (File No. 333-289380), which was filed with the Securities and Exchange Commission on August 7, 2025 and became effective upon filing, and a related prospectus supplement, dated May 6, 2026.