Chapter 1 · Growth
Space parts —
plus defense
drones now.
Fast growth, partly built and partly bought. Both deserve a close look.
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✦ The bottom line
Redwire sold $335M in 2025, and the most recent quarter grew ~58% year-over-year. Two engines drive it: its original space infrastructure business, and a new Defense Tech segment it created by acquiring a drone company in 2025. Some of the growth is organic; a lot of it was bought.
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✦ Teach me
Organic vs. acquired growth
When a company's revenue jumps, ask why: did it sell more of what it already made (organic growth), or did it buy another company and add its sales (acquired growth)? Both count, but they mean different things.
Redwire's 58% jump is partly its space business growing and partly the new Edge Autonomy drone business it acquired. Acquired growth is real, but it comes with a price — debt, new shares, and the work of integrating two companies.
Wall Street calls this
Revenue / organic vs. M&A growth
A headline growth number that's mostly from an acquisition tells you less about underlying momentum — and more about whether management can make the deal pay off (Chapter 4).
Revenue · most recent quarter vs. a year earlier
Q1 2026 revenue of $97M, up from $61M a year earlier — boosted by the new Defense Tech (drone) segment as well as the core space business.
Source · 10-Q · Results of Operations · Q1 2026 · Filed May 7, 2026
Total revenue · fiscal year 2025
Across two segments now — space infrastructure and Defense Tech. Still small for a company supplying both NASA programs and defense, which is the point: lots of room to grow, lots left to prove.
Source · 10-K · Results of Operations · FY2025 · Filed Feb 27, 2026