JACKSONVILLE, Fla. - Redwire Corporation (NYSE:RDW), known for its space infrastructure solutions, has received a follow-on order from Thales Alenia Space to provide more Roll-Out Solar Array (ROSA) wings for the Space Inspire satellite series. This order is an extension of the existing agreement and aims to enhance the capabilities of geostationary telecommunications satellites.
The Space Inspire satellites, a product line supported by the French national space agency CNES, are designed to offer flexible and robust communication services. Redwire's contribution to this project underscores its role as a key supplier in the space industry, with a focus on timely and precise delivery to support Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%).
Mike Gold, Redwire’s Chief Growth Officer, emphasized the company's commitment to supporting the Space Inspire satellites and ensuring the success of their customers through flawless execution.
Redwire Corporation, with a workforce of approximately 700 across 14 facilities in the United States and Europe, provides a range of space-related products and services. These include avionics, sensors, power solutions, and various other technologies critical to civil, commercial, and national security space missions.
The information in this article is based on a press release statement from Redwire Corporation.
In other recent news, Redwire Corporation has been making significant strides in the space industry. The company recently reported a 52.4% increase in revenue for the first quarter of 2024, reaching $87.8 million, despite a net loss of $8.1 million. Redwire also affirmed its full-year revenue guidance of $300 million, suggesting a 23% year-over-year growth rate.
The company has been selected by the Defense Advanced Research Projects Agency (DARPA) for a pioneering satellite project, known as the Otter program, and is employing its SabreSat VLEO spacecraft design for this mission.
In addition, Redwire secured contracts from the European Space Agency for the development of a robotic arm prototype for the Argonaut Lunar Lander, and from NASA's Jet Propulsion Laboratory for a feasibility study of a commercially-led Mars spacecraft.
Furthermore, Redwire announced the development of Phantom, a new Very Low Earth Orbit spacecraft platform, and is also working on the Phantom European VLEO Platform for the European Space Agency's Skimsat program, in collaboration with Thales Alenia Space UK.
InvestingPro Insights
As Redwire Corporation (NYSE:RDW) continues to secure its place in the space infrastructure market with the latest follow-on order from Thales Alenia Space, investors and industry watchers are keeping a close eye on the company's financial performance and market sentiment. Here are some key insights from InvestingPro to consider:
InvestingPro data indicates a robust 47.87% revenue growth in the last twelve months as of Q1 2024, reflecting a positive trajectory for the company's financials amidst its expanding role in the space industry. Moreover, the company's market capitalization stands at a solid $530.53 million, suggesting investor confidence in its market presence and future prospects.
Investors should note that Redwire's stock has shown a strong return over the last year, with a 139.35% increase. This impressive performance is supported by a significant return over the past week of 15.74%, highlighting the company's current favorable position in the market.
Two InvestingPro Tips that are particularly relevant for Redwire include the anticipation of net income growth this year and the prediction by analysts that the company will be profitable this year. These insights suggest a positive outlook for Redwire's financial health and may influence investment decisions.
For those looking to delve deeper into the financial analysis and stock performance of Redwire Corporation, InvestingPro offers additional tips and metrics. With the use of coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking access to a total of 14 InvestingPro Tips that could further inform investment strategies.
As the company forges ahead with its contributions to the Space Inspire satellites, these financial insights and expert analyses from InvestingPro could be valuable for stakeholders interested in the growth potential and investment opportunities presented by Redwire Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.