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Redwire Corporation: The Face Of Space Exploration Over The Next Decade

Stella Mwende profile picture
Stella Mwende


  • Redwire Corp. intends to commercialize its space operations through manufacturing on-orbit infrastructure and developing up-to-date human intelligence systems to move through space.
  • Redwire's acquisitions mean that its management now has more than 50 years of experience in space explorations and more than 150 missions.
  • By 2040, the growth of the space market due to small satellite launches in the next decade is projected to push it to $2 trillion from $420 billion.

Casual man standing on space platform watching planet Earth

gremlin/E+ via Getty Images

The year 2021 was phenomenal in space exploration as renowned billionaires assumed astronaut status. Virgin Galactic's (SPCE) founder Richard Branson and former Amazon's (AMZN) CEO took to the skies and reached the suborbital

This article was written by

Stella Mwende profile picture
I have more than five years experience in the financial industry. I focus mostly in the commodities, foreign exchange and cryptocurrencies. I also write on general issues like equity research, economics and geopolitics.Fellow contributor Crispus Nyaga is my colleague.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RDW either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (34)

Articles need to be careful when they use terms like space exploration. The commercial value of space is not an exploration, but in communications, and Earth resources satellites. The entire global market for orbital launch services this roughly the same as the US market for toothpaste.
teddyinvest profile picture
Comparison with other Space companies:

teddyinvest profile picture
NASA evaluation on ROSA.
Joe Eifrid profile picture
This looks interesting. I own RILY and do not typically invest in companies like RDW. It is now on my radar seeing RILY's interest. Have not seen this reported on SA.
Redwire Announces $80 Million B. Riley Committed Equity Facility
Facility Provides Flexibility to Fuel Growth Strategy

SungpillHan profile picture
I believe their cash burning is huge, same for all space related business. If they have cash 30M ~ only, their 2020 cash burn is around 60M. Comparing to 2019, their revenue doubled, but net loss grew more than 3 times. More revenue, more loss. I think it will not change this year.
And probably around summer, series of outstanding share increase.
Not like other solid state battery, quantum computing, metaverse, technology is not breakthrough, so no hypes either.
I believe the way to play Redwire is to focus on their financial change and growth timing, not early entry until then.
@SungpillHan Isn't that because they were acquiring companies for the time that we have their financial info?
teddyinvest profile picture
If space wins, then Redwire wins.
I considered buying Redwire but now i am not so sure.

They have been saying they will exit the transaction with $170MM in cash, and everyone reprints this statement without checking it.

I just looked at the consolidated post-SPAC balance sheet they published in their S-1 statement in 09/24/2021 (

Look at the balance sheet, page 52: Yes, they got c.$185MM from the transaction but they spent $145MM repaying debts and cutting a juicy $75MM check to the pre-SPAC shareholders... As a result they were expected to have barely $37MM in cash and equivalents post-SPAC (and that was based on Q2 2021 - end of June 2021 - financials). That's not much for a company that's still bleeding cash...
@Ben Mertens Hmm...your link gives an error.
Taking a look at Transaction Overview seekingalpha.com/...
we can see $170m Cash To the Balance Sheet "will serve as dry powder for strategic investments and pipeline". Not sure what Debt, I can't even see Total Debt = $145m as you say
@antoncretu indeed seems like the link was not printed in full. The S-1 is on the SEC website, it is the latest one published on 09/24/2021.
@Ben Mertens Yes, I found it, but like I said I didn't find anything about that debt, in fact their total debt was lower than that. And I really don't think they would change the transaction details
Out_on_a_limb profile picture
I don't understand why RADA is used as a comparison. It is not a space stock, but a digital radar manufacturer for defense use. There are other stocks which are more relevant as space stocks have become the rage recently.
Very interesting company for the LT, but a thing that I don't understand now: they were saying when SPAC-ing that they were "profitable", which not sure if accurate...especially with the quite long reporting delay.
Great article, thanks...now, if they can clean up their accounting which shouldn't take half the resources of going to space.
Jamjack profile picture
Agree. I sold on the accounting issue. No regrets. They still have not got that cleared up?! That is a big concern and risk. No deal for me until that is taken care of.
Khobar profile picture
After that article..

I am considering buying ..

I will wait 2 years .. for a good result
We are decades away from meaningful space manufacturing. The ISS has produced little of value to the Earth bound population.
@buyandforget your comment is quite ignorant. 20 years of great science has come from the iss. You can feel free to do some research before posting next time.
@Chillybear You said it. Science. Mostly, the science of keeping people alive in space. Damned little for us on Earth.
@buyandforget like i said. Do some research before commenting
teddyinvest profile picture
This is awesome article, but I hope you can make a new article more with Orbital Reef. Orbital Reef is a space factory and space transportation that are needed for Redwire's "Space Commercialization".
teddyinvest profile picture
Awesome article. I am a big fan of RDW with 2 main reasons.
1. First, the RDW revenue is bigger than the sum of other 6 space stocks (RKLB + BKSY + other 4), and RDW revenue growth will continue (i.e., 3 years contract with Terran Orbital).
2. Second, RDW has clear long term path in sights that is LEO commercialization with Orbital Reef because RDW takes care of payload operation in Orbital Reef that will be its recurring, continuing long term revenue.
3. Lastly, RDW's space mass manufacturing is not "commercially" proven yet, but its potential is humongous.
@teddyinvest My biggest concern with RDW is a overdependence on small number of clients for revenue
teddyinvest profile picture
@engineeringvirtue Most space companies depend on NASA and DoD and US government.
@teddyinvest And RDW counts new generation companies as clients such as Orbital reef, virgin orbit etc. I find their list of clients quite good ranging from old to new tech companies
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