#WASHINGTON — Space infrastructure company #Redwire plans to continue its growth and its push to profitability by seeking larger contracts for its lines of components while moving up the value chain, including a new satellite design.
In financial results released after the markets closed March 14, Redwire reported revenue of $243.8 million in 2023, a 51.9% increase over 2022. When excluding the contribution from QinetiQ Space NV, a Belgian company Redwire acquired in late 2022, Redwire’s revenue still grew by 26.9%.
The company also reported positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $15.3 million, versus an adjusted EBITDA loss of $11 million in 2022. The company still reported a net loss of $27.3 million in 2023, but that was an improvement of $103.4 million over 2022
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