Redwire Corp 2024年度报告

MISSION + VISION Our Mission Redwire is acceleratinghumanity's expansioninto space by deliveringreliable, economical, andsustainable infrastructurefor future generations. Our Vision Decades of flight heritageand innovation of world-classtechnologies combined withour mission success and focuson customer satisfaction havepositioned Redwire as a leaderin advancing the future ofspace infrastructure. WHO WE ARE HERITAGE + INNOVATION Redwire is a global leader in mission critical space solutions and high-reliability spaceinfrastructure for the next generation space economy. Our “Heritage plus Innovation”strategy enables us to combine decades of flight heritage with an agile and innovativeculture, creating new, innovative technologies that are the building blocks of spaceinfrastructure for government and commercial customers. customers in solving the complex challenges offuture space missions and industries. Redwirehas three primary areas of focus that form ourbusiness: (1) Enabling space mission providers,such as government agencies and large primecontractors, with a broad portfolio of space defenseand civil infrastructure, systems, subsystems, andcomponents; (2) Providing the infrastructure andtechnology needed for people to explore, liveand work in space; and (3) Assisting internationalspacefaring allies in the development of organicspace capabilities. Redwire’s primary business model is to provide missioncritical solutions based on core space infrastructureofferings for government and commercial customersthrough long-duration projects. These core offerings include leading technologies andproduction capability for mission solutions including:avionics, sensors and payloads; power generation;structures and mechanisms; radio frequency (“RF”)systems; spacecraft platforms and missions; andmicrogravity payloads. With decades of proven flightheritage combined with innovative products andculture, Redwire is uniquely positioned to assist our REDWIRE BY THE NUMBERS* 200+ 100+ 5 Spaceflight missionswith RDW hardware Customers executed forduring 2024 Spacecraft platformsacross orbits ~750 393,000 17 SqFt of facility space Locations acrossU.S. and Europe Redwire teammembers globally 10 $296.7M** $304.1M Contracted backlog Number of M&Atransactions since FY2020 Revenues LETTER FROM CHAIRMAN& CEO PETER CANNITO Peter Cannito Chairman, Chief Executive Officerand President Dear Shareholders, 2024 was a transformational year for Redwire as we moved up the value chainfrom subsystems and components to full space missions with five new spacecraftplatforms. As a result of this strategy, we enter 2025 with a solid foundation andnumerous opportunities for rapid growth. Redwire is a global leader in mission critical spacesolutions and high-reliability space infrastructure forthe next generation space economy. Our “Heritage plusInnovation” strategy enables us to combine decadesof flight heritage with an agile and innovative culturecreating new, innovative technologies that are thebuilding blocks of space infrastructure for governmentand commercial customers. multi-orbit spacecraft. We believe these strategicmoves uniquely position us in two of the fastestgrowing sectors of the defense and nationalsecurity market. Our 2025 growth strategy focuses on five principles: +Providing the “picks and shovels” of space whichprovides a solid foundation for growth+Delivering multi-domain platforms which providelarger contracts and high growth opportunities+Exploring the Moon, Mars & beyond, as the newspace race begins+Advancing venture optionality with transformativetechnology that can lead to break-out growth+Executing accretive M&A that increasesenterprise value During 2024, Redwire continued to provide critical “picksand shovels” as a trusted supplier of space subsystemsand components to some of the most remarkablemissions of the year. This positioning provided resiliencyand stability in an otherwise volatile emerging market.In addition, we also effectively moved up the value chainfrom trusted supplier to strategic platform provider withthe introduction of five spacecraft platforms serving theUS and international markets, notably completing ourtenth acquisition of Hera Systems as part of our platformdevelopment strategy. We have started to see examples of early successesas we execute against these key areas. For instance,Redwire enters 2025 with strong momentum as welook to close the Edge Autonomy acquisition duringthe second quarter. These strategic moves led to significant revenue growthof 24.7% on a year-over-year basis, with $304.1 millionversus $243.8 million for full year 2023. Additionally, asa platform provider we now have larger opportunities topursue which is reflected in $4.1 billion in year-to-datesubmitted bids as of December 31, 2024. We ended theyear with momentum with $3.0 million of Free CashFlow(1)in the fourth quarter of 2024 and $64.1 million intotal liquidity(2)as of December 31, 2024.