Redwire Corp (NYSE:RDW) shares are moving lower in after-hours Wednesday after the company reported first-quarter results and announced plans to offer and sell up to $350 million in common stock.

• Redwire stock is among today’s weakest performers. What’s pressuring RDW stock?

Redwire Q1 Highlights

Redwire reported first-quarter revenue of $96.97 million, missing analyst estimates of $104.65 million, according to Benzinga Pro. The company posted a first-quarter loss of 40 cents per share, missing estimates for a loss of 15 cents per share.

Total revenue was up 57.9% on a year-over-year basis, driven by “very strong demand” for the company’s differentiated products. Backlog grew to $498.1 million at quarter’s end.

Redwire affirmed its full-year 2026 outlook for revenue of $450 million to $500 million versus estimates of $471.22 million.

“Critical wins like the $1.8 billion Andromeda IDIQ for advanced spacecraft, our first order for ELSA, and follow-on orders with key customers like the Marine Corps for Stalker, to name a few, underscore our belief that Redwire is strategically positioned with many pathways to success across our mission-critical offerings,” said Peter Cannito, chairman, president and CEO of Redwire.

Redwire ended the quarter with total liquidity of $175.20 million. The company also announced an equity distribution agreement to offer and sell up to $350 million of common stock from time to time.

Redwire said any net proceeds will be used for working capital and other general corporate purposes, which may include financing of capital expenditures, repayment or refinancing of outstanding debt, financing acquisitions or investments and financing other business opportunities.

RDW Shares Dive After The Close

RDW Price Action: Redwire shares were down 10.58% in after-hours Wednesday, trading at $8.62 at the time of publication, according to Benzinga Pro.

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