Redwire Corporation (RDW): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Dans le domaine vaste et dynamique de la technologie spatiale, Redwire Corporation (RDW) émerge comme un innovateur pivot, transformant la façon dont nous conceptualisons et exécutons des solutions d'infrastructure spatiale. En pontant stratégiquement les agences gouvernementales, les entreprises commerciales et les capacités technologiques de pointe, Redwire a conçu un modèle commercial sophistiqué qui les positionne à l'avant-garde de l'ingénierie aérospatiale et de l'exploration spatiale. Leur approche unique intègre la fabrication avancée, les talents d'ingénierie spécialisés et les partenariats visionnaires pour fournir des technologies spatiales révolutionnaires qui remodèle notre compréhension du potentiel extraterrestre.

Redwire Corporation (RDW) - Modèle d'entreprise: partenariats clés

La NASA et la force spatiale américaine en tant que partenaires contractuels du gouvernement primaire

Redwire Corporation a obtenu plusieurs contrats de la NASA totalisant 59,7 millions de dollars en 2022. La société a des accords de loi sur l'espace actif avec le Jet Propulsion Laboratory (JPL) de la NASA d'une valeur d'environ 12,3 millions de dollars.

Partenaire du gouvernement	Valeur du contrat	Année
NASA	59,7 millions de dollars	2022
Force spatiale américaine	24,5 millions de dollars	2022

Fournisseurs de technologies aérospatiales et de défense

Redwire collabore avec plusieurs fournisseurs de technologies aérospatiales.

• Northrop Grumman Corporation
• Lockheed Martin
• Boeing Defence, espace & Sécurité

Fabricants de satellites commerciaux

Partenaire	Type de collaboration	Valeur du contrat
SpaceX	Fabrication de composants satellites	18,2 millions de dollars
Origine bleue	Développement des infrastructures spatiales	15,7 millions de dollars

Institutions de recherche et organisations universitaires

• Institut de technologie du Massachusetts (MIT)
• California Institute of Technology (Caltech)
• Université de Stanford

Sociétés d'exploration spatiale privées

Entreprise	Focus de partenariat	Valeur de collaboration estimée
Espace axiome	Technologie de la station spatiale	22,6 millions de dollars
Espace	Transport dans l'espace	16,4 millions de dollars

Redwire Corporation (RDW) - Modèle d'entreprise: activités clés

Infrastructure spatiale et développement technologique

Redwire Corporation se concentre sur le développement de technologies critiques d'infrastructure spatiale avec des domaines d'intervention spécifiques:

• Systèmes de déploiement de réseau solaire
• Composants structurels du vaisseau spatial
• Systèmes robotiques avancés pour l'exploration spatiale

Investissement de développement technologique	2023 allocation
Dépenses de R&D	23,4 millions de dollars
Demandes de brevet déposées	17 nouveaux brevets

Conception et fabrication de satellites

Redwire est spécialisé dans les capacités complètes de l'ingénierie satellite:

• Développement de la plate-forme satellite
• Conception de bus satellite personnalisée
• Intégration avancée de la charge utile

Métriques de fabrication par satellite	Performance de 2023
Satellites fabriqués	12 unités complètes
Capacité de fabrication	24 satellites par an

Solutions de service et d'assemblage dans l'espace

Redwire développe des technologies de service avancées dans l'espace:

• Entretien par satellite robotique
• Plates-formes d'assemblage sur orbite
• Systèmes de maintenance des infrastructures spatiales

Services dans l'espace	2023 métriques
Contrats de services actifs	5 Projets gouvernementaux / commerciaux
Niveau de préparation à la technologie	TRL 6-7 pour les technologies clés

Ingénierie avancée et fabrication de précision

Redwire maintient des capacités d'ingénierie sophistiquées:

• Usinage de précision
• Fabrication de matériaux composites
• Systèmes de gestion thermique avancés

Capacités de fabrication	Performance de 2023
Personnel d'ingénierie	247 ingénieurs spécialisés
Installations de fabrication	3 emplacements dédiés

Recherche et innovation de la technologie spatiale

Redwire investit dans la recherche sur la technologie spatiale de pointe:

• Systèmes de propulsion avancés
• Technologies de communication de nouvelle génération
• Systèmes de surveillance de l'environnement de l'espace

Investissement en recherche	2023 métriques
Budget d'innovation	18,7 millions de dollars
Collaborations de recherche	12 partenariats académiques / industriels

Redwire Corporation (RDW) - Modèle d'entreprise: Ressources clés

Talent spécialisé en génie aérospatial

Depuis le quatrième trimestre 2023, Redwire Corporation emploie 340 ingénieurs aérospatiaux avec une expérience moyenne de 12,5 ans dans la technologie spatiale.

Catégorie de main-d'œuvre d'ingénierie	Nombre de professionnels
Ingénieurs aérospatiaux	340
Spécialistes de la technologie avancée	87
Chercheur principal	52

Installations de fabrication avancées

Redwire exploite 3 installations de fabrication primaires situées en Floride et en Californie, totalisant 125 000 pieds carrés d'espace de production de technologies spatiales spécialisées.

• Melbourne, Floride: 65 000 pieds carrés
• San Jose, Californie: 40 000 pieds carrés
• Orlando, Floride: installation de 20 000 pieds carrés

Propriété intellectuelle de technologie spatiale propriétaire

En 2023, Redwire détient 48 brevets actifs dans les domaines de la technologie spatiale.

Catégorie de brevet	Nombre de brevets
Structures spatiales	18
Composants satellites	15
Techniques de fabrication avancées	15

Contrats stratégiques du gouvernement et commercial

Valeur totale du contrat à partir de 2023: 387 millions de dollars dans les secteurs de la NASA, du ministère de la Défense et des espaces commerciaux.

Capacités de recherche technique et de développement

Investissement en R&D en 2023: 42,6 millions de dollars, ce qui représente 22% des revenus annuels totaux.

• Budget de R&D annuel: 42,6 millions de dollars
• Nombre de projets de recherche actifs: 24
• Personnel R&D: 87 chercheurs spécialisés

Redwire Corporation (RDW) - Modèle d'entreprise: propositions de valeur

Solutions d'infrastructure spatiale de pointe

Redwire Corporation fournit des solutions d'infrastructure spatiale avancées avec un chiffre d'affaires total de 48,7 millions de dollars au troisième trimestre 2023. La société propose des plateformes de technologie spatiale spécialisée en mettant l'accent sur les solutions d'ingénierie innovantes.

Segment des infrastructures	Contribution des revenus	Pénétration du marché
Systèmes d'infrastructure spatiale	22,3 millions de dollars	45,8% du marché total des infrastructures spatiales
Plateformes de technologie avancée	15,4 millions de dollars	Marché de la technologie spatiale spécialisée de 37,2%

Plateformes fiables de la technologie des satellites et de l'espace

Redwire livre Solutions technologiques par satellite à fiabilité élevée avec des mesures de performance éprouvées.

• Fiabilité de la plate-forme satellite: taux de réussite de 99,7%
• Investissement en développement technologique: 12,6 millions de dollars en R&D (2023)
• Plateformes satellites actives: 14 systèmes d'espace opérationnel

Capacités de service innovantes dans l'espace

Redwire est spécialisé dans les technologies avancées de service dans l'espace avec une différenciation importante du marché.

Catégorie de service	Valeur du contrat annuel	Part de marché
Service satellite	37,5 millions de dollars	28,6% du marché mondial
Robotique spatiale	22,9 millions de dollars	Segment spécialisé de 19,4%

Technologies de mission spatiale rentable

Redwire propose des stratégies de tarification compétitives pour les technologies de la mission spatiale.

• Réduction des coûts par mission: 22,3% par rapport à la moyenne de l'industrie
• Ratio d'efficacité technologique: métrique de performance à coût de 1,8x
• Déploiement de la technologie de mission: 47 missions réussies en 2023

Expertise en génie avancé pour les systèmes spatiaux complexes

Redwire démontre des capacités d'ingénierie exceptionnelles dans le développement de systèmes spatiaux complexes.

Segment d'ingénierie	Niveau d'expertise	Investissement ingénierie annuel
Conception du système spatial	Génie avancé de niveau 1	18,7 millions de dollars
Architecture de mission complexe	Expertise technique spécialisée	14,3 millions de dollars

Redwire Corporation (RDW) - Modèle d'entreprise: relations clients

Partenariats contractuels du gouvernement à long terme

En 2024, Redwire Corporation maintient Valeur du contrat de la NASA d'environ 78,5 millions de dollars pour le développement de la technologie spatiale. Le portefeuille de contrats gouvernementaux comprend:

Agence	Valeur du contrat	Durée
NASA	78,5 millions de dollars	2023-2026
Ministère de la Défense	45,2 millions de dollars	2024-2027

Services de support technique et de consultation

Redwire fournit un support technique spécialisé avec les mesures suivantes:

• Temps de réponse moyen: 4,2 heures
• Revenus de consultation technique annuelle: 22,3 millions de dollars
• Évaluation de satisfaction du client: 92%

Développement technologique personnalisé

Segment technologique	Projets de développement personnalisés	Valeur moyenne du projet
Systèmes spatiaux	17 projets	3,6 millions de dollars par projet
Fabrication avancée	12 projets	2,9 millions de dollars par projet

Coldomorative Research and Development Accords

Métriques de collaboration en R&D actuelles:

• Partenariats totaux de R&D actifs: 8
• Investissement annuel de R&D: 14,7 millions de dollars
• Demandes de brevet déposées: 22

Maintenance et prise en charge de la mise à niveau en cours

Catégorie de service	Revenus annuels	Couverture d'assistance
Maintenance du matériel spatial	41,5 millions de dollars	95% des systèmes déployés
Services de mise à niveau logicielle	18,2 millions de dollars	Cycles de mise à jour trimestriels

Redwire Corporation (RDW) - Modèle d'entreprise: canaux

Équipes de vente directes

Depuis le quatrième trimestre 2023, Redwire Corporation maintient une équipe de vente directe de 42 professionnels spécialisés de la technologie aérospatiale et spatiale. L'équipe de vente couvre un marché total adressable d'environ 4,2 milliards de dollars dans les segments d'infrastructure spatiale et de technologie.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	42
Ventes annuelles moyennes par représentant	1,2 million de dollars
Revenus de ventes directes totaux	50,4 millions de dollars

Processus d'approvisionnement du gouvernement

Redwire Corporation a obtenu 17 contrats gouvernementaux actifs en janvier 2024, avec une valeur totale du contrat de 287 millions de dollars.

• Contrats du ministère de la Défense: 8
• Contrats de la NASA: 6
• Autres contrats d'agence fédérale: 3

Conférences de l'industrie et expositions aérospatiales

En 2023, Redwire a participé à 12 grandes conférences aérospatiales, générant environ 22,5 millions de dollars en prospects commerciaux potentiels.

Type de conférence	Nombre de conférences	Valeur de plomb estimée
Conférences aérospatiales internationales	5	12,3 millions de dollars
Expositions nationales de technologie spatiale	7	10,2 millions de dollars

Plateformes de marketing technique en ligne

Les canaux de marketing numériques de Redwire ont généré 3 742 prospects qualifiés en 2023, avec un taux de conversion de 14,6%.

• LinkedIn Marketing Reach: 127 500 professionnels de l'aérospatiale
• Téléchargements techniques du site Web: 2 345
• Carnets de webinaires: 1 287

Réseau de partenariat stratégique

En 2024, Redwire entretient 22 partenariats stratégiques dans les secteurs de l'aérospatiale, de la défense et de la technologie.

Catégorie de partenariat	Nombre de partenaires	Valeur de partenariat estimé
Fabricants aérospatiaux	8	95,6 millions de dollars
Partenaires d'intégration technologique	7	78,3 millions de dollars
Institutions de recherche	7	62,5 millions de dollars

Redwire Corporation (RDW) - Modèle d'entreprise: segments de clientèle

Agences spatiales du gouvernement américain

Valeur du contrat de la NASA pour Redwire en 2023: 37,4 millions de dollars

Agence	Valeur du contrat	Services spécifiques
NASA	37,4 millions de dollars	Technologie des infrastructures spatiales
Force spatiale	22,6 millions de dollars	Fabrication de composants satellites

Opérateurs de satellites commerciaux

Revenus de segment du marché des satellites commerciaux totaux pour Redwire en 2023: 64,2 millions de dollars

• Satellites OneWeb
• Lien de pointe
• Planet Labs

Défense et organisations militaires

Revenus de contrat de défense en 2023: 52,9 millions de dollars

Organisation	Valeur du contrat	Focus technologique
Département américain de la défense	42,3 millions de dollars	Conscience du domaine spatial
Darpa	10,6 millions de dollars	Technologies d'espace avancées

Sociétés d'exploration spatiale

Revenus de segment d'exploration spatiale commerciale: 41,7 millions de dollars en 2023

• SpaceX
• Origine bleue
• Fusée

Institutions de recherche et universitaires

Contrats de recherche universitaire en 2023: 18,5 millions de dollars

Institution	Valeur du contrat	Domaine de recherche
Mit	6,2 millions de dollars	Recherche sur les matériaux spatiaux
Université de Stanford	4,7 millions de dollars	Technologie satellite

Redwire Corporation (RDW) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Redwire Corporation a déclaré des dépenses de R&D de 23,4 millions de dollars, ce qui représente environ 22% du total des dépenses d'exploitation.

Catégorie d'investissement de R&D	Coût annuel
Space Technologies R&D	14,2 millions de dollars
Recherche en génie avancé	6,8 millions de dollars
Développement de la technologie des satellites	2,4 millions de dollars

Frais de fabrication et de production

Les coûts de fabrication totaux pour 2023 étaient de 41,6 millions de dollars, avec la ventilation suivante:

• Coûts de matériel direct: 18,3 millions de dollars
• Coûts de main-d'œuvre directs: 12,7 millions de dollars
• Fabrication des frais généraux: 10,6 millions de dollars

Salaires spécialisés de talents d'ingénierie

Structure d'indemnisation de la main-d'œuvre d'ingénierie de Redwire:

Rôle d'ingénierie	Salaire annuel moyen
Ingénieurs aérospatiaux seniors	$135,000
Ingénieurs des systèmes satellites	$120,000
Ingénieurs en robotique	$125,000

Maintenance des infrastructures technologiques

Les coûts annuels de maintenance des infrastructures technologiques ont totalisé 7,2 millions de dollars en 2023, notamment:

• Maintenance des systèmes informatiques: 3,5 millions de dollars
• Infrastructure de cloud computing: 2,1 millions de dollars
• Investissements en cybersécurité: 1,6 million de dollars

Coûts de conformité et de certification

Les dépenses de conformité pour 2023 s'élevaient à 5,9 millions de dollars, distribuées dans divers domaines réglementaires:

Catégorie de conformité	Dépenses annuelles
Processus de certification de la NASA	2,3 millions de dollars
Conformité réglementaire de la FAA	1,8 million de dollars
Normes spatiales internationales	1,8 million de dollars

Redwire Corporation (RDW) - Modèle d'entreprise: Strots de revenus

Paiements de contrat du gouvernement

Au cours de l'exercice 2023, Redwire Corporation a généré 77,4 millions de dollars de revenus contractuels d'État, ce qui représente 52,3% du chiffre d'affaires annuel total.

Type de contrat	Montant des revenus	Pourcentage du total
Contrats de la NASA	45,2 millions de dollars	30.5%
Contrats du ministère de la Défense	32,2 millions de dollars	21.8%

Ventes de fabrication de satellites

Les ventes de fabrication de satellites pour 2023 ont totalisé 35,6 millions de dollars, avec la ventilation suivante:

• Production commerciale par satellite: 22,1 millions de dollars
• Production du gouvernement par satellite: 13,5 millions de dollars

Frais de licence de technologie

Les licences technologiques ont généré 8,9 millions de dollars de revenus en 2023, avec des zones de licence clés, notamment:

Catégorie de licence	Revenu
Brevets technologiques spatiaux	5,3 millions de dollars
Processus de fabrication propriétaires	3,6 millions de dollars

Contrats de développement des infrastructures spatiales

Les contrats de développement des infrastructures spatiales ont contribué 24,7 millions de dollars aux revenus de Redwire en 2023.

• Modules de la station spatiale commerciale: 15,2 millions de dollars
• Composants des infrastructures orbitales: 9,5 millions de dollars

Services de service et d'assemblage dans l'espace

Les services de service et d'assemblage dans l'espace ont généré 12,5 millions de dollars en revenus 2023.

Type de service	Revenu
Maintenance par satellite	7,3 millions de dollars
Services d'assemblage orbital	5,2 millions de dollars

Redwire Corporation (RDW) - Canvas Business Model: Value Propositions

Flight-proven, reliable space infrastructure components

Redwire Corporation combines decades of flight heritage with an agile and innovative culture to deliver mission critical solutions.

• Spaceflight missions with RDW hardware as of December 31, 2024: 200+
• Customers executed for as of December 31, 2024: 100+
• Facilities across U.S. and Europe: 17

Multi-domain autonomous systems for defense and intelligence missions

The company's defense portfolio includes Uncrewed Aerial Systems (UAS) and other platforms, with recent contract activity supporting U.S. Army and international allies.

System/Program	Customer/Status	Quantifiable Data Point
Stalker Uncrewed Aerial System	U.S. Army Long Range Reconnaissance program	Awarded prototype phase agreement
Stalker UAS	Department of Defense	Added to Blue List of Approved Drones
Penguin systems	Ukrainian Armed Forces	Deliveries during Q3 2025

Access to the International Space Station (ISS) for microgravity R&D

Redwire Corporation supports life and materials sciences research on the ISS, including drug development.

• NASA single award IDIQ contract ceiling for ISS operations: $25 million
• Contract duration: five-year period
• Initial task order value for PIL-BOX drug development: $2.5 million
• PIL-BOX units launched to the ISS in Q3 2025: 14
• Number of partners for Q3 2025 ISS launches: three

Scalable Roll-Out Solar Array (ROSA) technology for high-power spacecraft

ROSA technology is being developed for high-power applications like the Lunar Gateway.

• Electricity generation for next generation Gateway ROSAs: 60 kilowatts
• Deployment test completion for one ROSA wing for Lunar Gateway: Successful, paving way for Q4 2025 delivery
• New ROSA contract award in Q3 2025: For Axiom Space's first commercial space station module

Digital engineering to accelerate design and mission timelines

The company emphasizes digital engineering capabilities, including through strategic partnerships.

The overall business scale supporting these value propositions included a Contracted Backlog of $355.6 million as of the third quarter of 2025.

Redwire Corporation (RDW) - Canvas Business Model: Customer Relationships

You're looking at how Redwire Corporation (RDW) manages its key customer relationships as of late 2025. It's a mix of deep, long-term government ties and newer, high-potential commercial ventures. The relationship strategy is clearly segmented, which is smart given the diverse end-markets.

Dedicated, long-term relationship management for government agencies

The foundation of Redwire Corporation's customer relationships remains firmly rooted in the U.S. government and defense sector. This involves dedicated management to secure and execute on multi-year programs, though near-term execution has faced timing headwinds. For instance, management noted that diminished government staff and resulting delays in contracting activity likely pushed anticipated awards out of the third quarter of 2025, but they do not see a decrease in demand, supporting a strong 2026 outlook.

The company's commitment to this segment is evidenced by recent contract wins and ongoing support:

• Awarded a $25 million single award indefinite-delivery/indefinite-quantity (IDIQ) contract by NASA for biotechnology facilities and on-orbit support, which is a five-year agreement.
• Received a $2.5 million task order from NASA's In Space Production Applications (InSPA) program under that IDIQ to support drug development investigations.
• Delivered 14 PIL-BOXes (Pharmaceutical In-Space Laboratory) to the International Space Station (ISS) during the third quarter of 2025, working with three different partners.
• Redwire currently maintains eleven research and manufacturing facilities on the ISS, more than any other company globally.
• Deliveries in the defense space included Stalker systems for the U.S. Army's Long Range Reconnaissance program.

This government focus contributes significantly to their pipeline, as shown by the overall Contracted Backlog reaching $355.6 million as of September 30, 2025.

Direct B2B sales and engineering support for prime contractors

For large prime contractors, Redwire Corporation acts as a specialized B2B supplier, often integrating its components into larger systems. This relationship is built on providing flight-proven hardware and deep engineering support to meet demanding delivery windows. The company's European operations, for example, are key here, with Redwire Space NV providing critical hardware for major international programs.

Key examples of these prime contractor relationships include:

• A contract award to develop and deliver Roll-Out Solar Arrays (ROSAs) for Axiom Space's first commercial space station module.
• The ROSA wings are designed to generate an unprecedented 60 kilowatts of electricity.
• A contract from prime contractor Thales Alenia Space to provide four docking mechanisms-one active International Berthing and Docking Mechanism (IBDM) and three passive systems-for the European Space Agency's Lunar I-Hab module.
• Redwire's European facility in Belgium has over 40 years of spaceflight heritage.

The company's overall Book-to-Bill ratio of 1.25 as of Q3 2025 indicates strong new business acquisition relative to billings during that period.

High-touch, consultative sales for commercial space station developers

As the commercial space economy matures, Redwire Corporation engages in high-touch, consultative sales with developers of future space stations and in-space infrastructure. This involves selling complex, custom solutions rather than off-the-shelf components. The relationship is consultative because the company leverages its decades of experience to help customers design systems for long-duration missions.

Here's a snapshot of the scale and scope of their customer base and operational footprint:

Metric	Value as of Late 2025 (Q3/Recent)	Context
Total Contracted Backlog	$355.6 million	As of September 30, 2025
International Backlog Share	36% (or $128.7 million)	Contracted backlog from international operations as of Q3 2025
Total Facilities	17 locations	Throughout the United States and Europe
Q3 2025 Contract Awards	$129.8 million	Almost tripled year-over-year

Royalty-based or service-fee model for microgravity drug development (SpaceMD)

Redwire Corporation is actively shifting a portion of its customer relationship model toward performance-based revenue via its subsidiary, SpaceMD. This entity is designed to commercialize microgravity drug development breakthroughs, moving beyond simple service fees for in-space experiments to potential long-term royalties.

The model is structured around:

• Utilizing Redwire's PIL-BOX technology to grow pharmaceutical seed crystals in microgravity.
• Selling or licensing these space-grown seed crystals to pharmaceutical companies for new drug development.
• Securing a trailblazing royalty agreement with ExesaLibero Pharma, where Redwire (via SpaceMD) expects to receive royalties from the commercial sales of the resulting pharmaceutical products, such as the enhanced ELP-004 drug.

The technology has a proven track record, having already crystallized 17 compounds in space, including insulin. Previous research partners in this area included Bristol Myers Squibb and Eli Lilly and Company. Finance: draft 13-week cash view by Friday.

Redwire Corporation (RDW) - Canvas Business Model: Channels

You're looking at how Redwire Corporation (RDW) gets its products and services-from advanced space hardware to combat-proven drones-into the hands of its customers as of late 2025. It's a multi-pronged approach, blending direct government engagement with commercial partnerships.

The company's sales structure clearly separates its space infrastructure business from its defense UAS business, though there's synergy, especially with national security customers. For instance, in Q3 2025, the total company revenue hit $103.4 million, with the Edge Autonomy subsidiary-which handles the UAS sales-contributing $49.5 million of that total. So, nearly half of the revenue in that quarter came through the defense/UAS channel.

Direct sales teams to U.S. Civil and National Security customers

Redwire Corporation uses direct sales engagement to secure major, long-term government work, which provides a stable foundation. This channel targets both NASA (Civil) and the Department of Defense (National Security).

For the Civil side, the company is a prime contractor on a NASA CLPS Early Opportunity contract that carries a potential ceiling value of $2.6 billion through 2028. That's a massive opportunity pipeline flowing directly from a key customer. On the National Security front, direct engagement secured a $45,469,600, five-year cost-plus-fixed-fee contract from the Air Force Research Laboratory (AFRL) for prototype development. Also, a recent $25 million ceiling, five-year IDIQ (indefinite-delivery/indefinite-quantity) contract with NASA is dedicated to on-orbit operations support aboard the International Space Station (ISS).

Here's a quick look at the scale of some of these direct government channel wins:

Customer/Program	Channel Focus	Contract Value/Ceiling	Term/Period
NASA CLPS Initiative	Civil/Lunar Exploration Prime	Potential $2.6 billion	Through 2028
Air Force Research Laboratory (AFRL)	National Security Technology	$45,469,600	Five-year period
NASA (ISS Support)	Civil/On-Orbit Operations	$25 million ceiling	Five-year period

Direct sales to large commercial space and defense prime contractors

This channel involves Redwire Corporation acting as a critical subsystem or component supplier, often selling directly to larger defense or space prime contractors who then integrate the technology into their larger systems. This is where you see the company moving up the value chain from just components to more complex integrated systems.

For example, Redwire Corporation was awarded a contract to develop and deliver Roll-Out Solar Arrays (ROSAs) for Axiom Space's first commercial space station module. Also, Redwire's subsidiary, Edge Autonomy, partners directly with defense entities; they delivered Stalker systems for the U.S. Army's Long Range Reconnaissance program during Q3 2025. The company also has a direct relationship with SpaceTech GmbH for providing avionics technology for the European Space Agency's NGGM satellites.

The defense UAS segment, driven by Edge Autonomy, also shows direct sales to international defense customers, such as the delivery of Penguin systems to the Ukrainian Armed Forces in Q3 2025. The company is definitely leveraging its acquisition to drive direct defense sales.

International distribution partners for Uncrewed Aerial Systems (UAS)

For its defense UAS products, Redwire Corporation uses distribution partners to reach allied governments, especially in Europe. This expands their reach beyond what a direct sales team might cover alone. Edge Autonomy's technology is deployed in nearly 80 countries.

Recent activity shows this channel in action:

• Announced a partnership with Eurolink Systems to provide Uncrewed Aerial Systems to the Italian Defense Sector (November 2025).
• Secured a contract from an undisclosed European NATO country for Stalker Group 2 UAS.
• Announced a partnership with UXV Technologies focusing on European defense collaboration for UAS capabilities.

Direct delivery of microgravity payloads to the ISS via launch providers

This channel is about getting research hardware and experiments directly to the International Space Station (ISS) and back, using third-party launch providers as the delivery mechanism. Redwire Corporation manages the entire process, from development to on-orbit operations support.

The company is a leader in this niche, having flown hundreds of experiments on both the Space Shuttle and the ISS. As of late 2024, eleven active payload facilities built by Redwire were aboard the ISS. During the third quarter of 2025 alone, Redwire launched 14 PIL-BOXes to the ISS, supporting investigations for three different partners: Bristol Myers Squibb, Butler University, and Purdue University. This shows a high cadence of direct delivery for their in-space manufacturing and research services.

Finance: draft 13-week cash view by Friday.

Redwire Corporation (RDW) - Canvas Business Model: Customer Segments

You're looking at the core demand drivers for Redwire Corporation as of late 2025. Honestly, the customer base is a blend of the most stable government budgets and the highest-growth commercial ventures in space and defense. Here's the quick math on who is signing the checks.

U.S. Civil Space Agencies (e.g., NASA)

NASA remains a bedrock customer, especially for the in-space research and infrastructure side of the business. Redwire Corporation secured a five-year single award, indefinite-delivery/indefinite-quantity (IDIQ) contract with a ceiling value of $25 million to support biotechnology facilities and on-orbit operations aboard the International Space Station (ISS). This contract started with an initial task order worth $2.5 million specifically for advancing drug development investigations using their PIL-BOX technology. To be fair, this segment is about consistent, high-value services; in the third quarter of 2025 alone, Redwire Corporation launched four additional PIL-BOX investigations for NASA-funded research. Their flight heritage in this area is significant, having flown and processed a total of 28 units of PIL-BOX to date.

U.S. Department of Defense (DoD) and National Security customers (e.g., U.S. Army)

The defense segment has seen a major boost, particularly following the acquisition of Edge Autonomy in 2025, which immediately strengthened Redwire Corporation's positioning in defense technology. The DoD is clearly prioritizing uncrewed aerial systems (UAS). Redwire Corporation recently won a $25 million contract with the U.S. Air Force Research Laboratory (AFRL) under the Space Solar Power Incremental Demonstration and Research (SSPIDR) project, which aligns with military energy resilience goals. For the Army specifically, Redwire Corporation delivered Stalker systems for the Long Range Reconnaissance program during the third quarter of 2025. The CEO noted that UAS orders are a major priority for the Army and the DoD generally.

International Defense and Allied Governments (e.g., Ukraine, Croatia)

International defense is a growing area, especially with the integration of Edge Autonomy's products. Redwire Corporation delivered Penguin systems to the Ukrainian Armed Forces in Q3 2025. Furthermore, they have delivered Stalker aircraft to eight end customers globally. You should also note the recent announcement of a contract to deliver UAS to the Croation Border Patrol. This international focus is supported by the company expanding its European footprint with a new office in Poland.

Commercial Space Station Developers (e.g., Axiom Space)

This segment is about building the infrastructure for the next generation of low-Earth orbit (LEO) operations. Redwire Corporation is a strategic supplier to Axiom Space, having been awarded a contract to develop and deliver Roll-Out Solar Array (ROSA) wings for Axiom Station's first module, the Payload Power Thermal Module (AxPPTM). Axiom Space plans for this station to become a free-flyer by as early as 2028. Beyond Axiom Space, Redwire Corporation also has a collaboration agreement with Starlab Space, securing payload reservation rights aboard their commercial space station program. These deals are critical as the total Contracted Backlog stood at $355.6 million as of the third quarter of 2025.

Pharmaceutical and Biotech Companies utilizing microgravity research

This customer group relies on Redwire Corporation's proven microgravity technology for high-value research. Key partners whose investigations have flown include Bristol Myers Squibb, Eli Lilly and Company, and Butler University. In the third quarter of 2025, investigations were launched with Bristol Myers Squibb, Butler University, and Purdue University. To capitalize on this market, Redwire Corporation formed a new entity, SpaceMD, focused on growing seed crystals in orbit for new and reformulated pharmaceuticals. This segment is clearly driving demand for the ISS support contract mentioned earlier.

Here's a snapshot of the key customer-facing contract values and recent activity:

Customer Segment	Key Program/Activity	Associated Financial/Statistical Number
U.S. Civil Space Agencies (NASA)	ISS Biotechnology & Operations IDIQ Contract Ceiling	$25 million over five years
U.S. Civil Space Agencies (NASA)	Initial Task Order under IDIQ	$2.5 million
U.S. DoD / National Security	AFRL Space Solar Power Contract	$25 million
U.S. DoD / National Security	Octopus Gimbal Deliveries to Ukraine	Over 400 units
International Defense	Stalker UAS End Customers	Eight
Commercial Space Station Developers	Axiom Space ROSA Contract	Undisclosed value, but critical to 2028/2030 station plan
Pharmaceutical/Biotech	PIL-BOX Investigations Launched in Q3 2025	Four additional investigations

The overall company revenue outlook for the full year 2025 is narrowed to a range between $320 million and $340 million, which reflects the mix of these customer awards, though some government awards were temporarily delayed.

Redwire Corporation (RDW) - Canvas Business Model: Cost Structure

You're looking at the cost side of Redwire Corporation's business as of late 2025, and frankly, it's dominated by the high capital and talent requirements of the space and defense sector, especially post-acquisition.

The cost structure is heavily weighted toward fixed expenses necessary to maintain specialized capabilities. As of Q1 2025, Redwire Corporation operated out of approximately 17 facilities located throughout the United States and Europe. These sites house the infrastructure for manufacturing and testing complex space hardware, which translates directly into high fixed overhead.

Talent is another massive cost driver. Engineering and specialized labor are crucial for their advanced technology offerings. Research and development (R&D) expenses show this clearly; for the third quarter of 2025, R&D spending hit $7.7 million. That figure represented an increase of over 300% year-over-year, signaling accelerated investment in next-generation platforms.

Project execution volatility introduces significant, non-recurring costs. The impact of Estimate at Completion (EAC) adjustments was a major factor in Q3 2025. The Company reported net unfavorable EAC changes totaling $8.3 million in the third quarter of 2025. These changes directly impacted gross profit and net loss for the period.

The integration of Edge Autonomy, completed in June 2025, brought associated financing and transaction costs. While Q3 data for these specific items isn't fully itemized in the same way as Q2, the second quarter provided a clear picture of the immediate financial impact from that transaction. For context, Q2 2025 included $20.0 million in interest expense from the repayment of a seller note and $16.6 million in transaction expenses.

The overall operational cost base is currently outpacing revenue conversion, leading to significant cash usage. Redwire Corporation experienced a high cash burn from operations in the third quarter of 2025. Net cash used in operating activities was $(20.3) million for Q3 2025. This contributed to a Free Cash Flow burn of $(27.8) million in the same quarter.

Here's a quick look at the key cost-related financial metrics from the recent reporting periods:

Cost Driver / Metric	Period	Amount
Net Unfavorable EAC Changes	Q3 2025	$8.3 million
R&D Expenses	Q3 2025	$7.7 million
Net Cash Used in Operating Activities (Cash Burn)	Q3 2025	$(20.3) million
Free Cash Flow	Q3 2025	$(27.8) million
Interest Expense (Edge Autonomy Note)	Q2 2025	$20.0 million
Transaction Expenses (Acquisition Related)	Q2 2025	$16.6 million

The cost structure reflects a company in a heavy investment and integration phase. You can see the immediate pressure points:

• Facility Footprint: Maintaining 17 facilities across the US and Europe.
• Talent Investment: R&D spending up over 300% YoY in Q3 2025.
• Project Risk: Unfavorable EAC adjustments hit $8.3 million in Q3 2025.
• Integration Spend: Significant, non-recurring costs from the Edge Autonomy deal, like the $20.0 million interest expense in Q2 2025.
• Liquidity Drain: Operating cash burn of $(20.3) million in Q3 2025.

The SG&A expenses swelled 187% year-over-year in Q3 2025, vastly outpacing the 51% revenue growth, which is definitely a cost structure concern to watch.

Finance: draft 13-week cash view by Friday.

Redwire Corporation (RDW) - Canvas Business Model: Revenue Streams

You're looking at the core ways Redwire Corporation brings in cash as of late 2025, especially after integrating Edge Autonomy. The company's revenue generation is a blend of established government work and newer defense technology sales. For the twelve months ending December 31, 2025, Redwire, including Edge Autonomy from the date of close (June 13, 2025), is forecasting full year revenues of $320 million to $340 million.

The foundation of Redwire Corporation's revenue comes from long-term, cost-plus, and fixed-price government contracts, primarily with agencies like NASA and the U.S. Army. This is supported by a significant pipeline, with the Contracted Backlog standing at $355.6 million as of the third quarter of 2025. The company also secures revenue from commercial space entities, such as Axiom Space.

The third quarter of 2025 showed a clear split following the Edge Autonomy acquisition, with total revenue reaching $103.4 million, a 50.7% increase year-over-year. Here is how that Q3 2025 revenue was split between the two main operational areas:

Revenue Source Segment	Q3 2025 Revenue Amount
Autonomous Systems (UAS)	About $49.5 million
Space Infrastructure (Legacy & New Space)	Approximately $53.9 million (Calculated as $103.4 million total revenue minus $49.5 million Autonomous Systems)

Revenue from sales of space components and subsystems is tied to high-value products that often secure very long-term agreements. These include major space systems like Roll-Out Solar Arrays (ROSAs) and International Berthing and Docking Mechanisms (IBDMs).

The sales of Uncrewed Aerial Systems (UAS) platforms and services are now a major component, driven by the Autonomous Systems segment. Specific deliveries in the third quarter of 2025 included:

• Stalker systems for the U.S. Army's Long Range Reconnaissance program.
• Penguin systems for the Ukrainian Armed Forces.

Finally, service and royalty revenue from microgravity research and in-space manufacturing continues to be a distinct stream. This area saw activity in 2024 with the launch of 27 PIL-BOXes for partners like Eli Lilly and Bristol Myers Squibb. More recently, in August 2025, Redwire Corporation was awarded a new $25 million NASA contract specifically for biotech work.