Redwire Reports Record $411M Backlog
Space and defense tech firm Redwire reported a record backlog of $411 million entering 2026. The company is currently advancing work on five spacecraft and two airborne platforms, signaling strong demand for its multi-domain technologies.
The surge in Redwire's backlog to $411.2 million marks a 38.6% year-over-year increase, largely fueled by its expanding defense technology sector. While space programs constitute the majority of the backlog, the defense segment saw the most significant growth, jumping from $32.7 million at the end of 2024 to $111.4 million by the end of 2025. A key driver of this defense expansion was the acquisition of Edge Autonomy, a provider of uncrewed aerial systems (UAS). This strategic purchase helped transform Redwire into a more integrated space and defense company, contributing $107.1 million in post-acquisition revenue and establishing a strong foothold in the unmanned systems market. Among the key contracts is a $44 million award from DARPA for the Otter mission, which aims to demonstrate an "air-breathing" spacecraft in Very Low Earth Orbit (VLEO). Built on Redwire's SabreSat platform, the vehicle is designed to harvest atmospheric molecules for propellant, enabling it to stay in orbit longer for defense and intelligence missions. Redwire is also building multiple Mako spacecraft for the U.S. Space Force's Tetra-5 and Tetra-6 missions. These missions are designed to test capabilities crucial for future autonomous systems, including on-orbit refueling, prepared inspection, and docking—foundational technologies for sustained space operations and logistics. The company is actively embedding artificial intelligence across its portfolio, from autonomous systems and robotics to modeling and simulation. Redwire is a founding corporate sponsor of Stanford's aerospace autonomy research center (CAESAR) and is collaborating with startups like DeepSat and SpaceData to apply AI to digital engineering and in-orbit sensor fusion. This aggressive growth and technological investment come with near-term profitability challenges. The company reported a net loss of $226.6 million for 2025, citing costs from its transformation, program development, and other non-recurring charges. Management expects margins to improve as more development-stage projects transition to production in 2026.
