Redwire Strengthens Liquidity with New Credit Facilities

Redwire ( (RDW) ) has issued an announcement.

On February 20, 2026, Redwire Defense Tech Intermediate Holdings, a wholly owned subsidiary of Redwire, amended and restated its 2025 credit agreement, putting in place a $30 million revolving credit facility with a $10 million swingline and a new $90 million term loan, both maturing on May 31, 2029. The facilities bear interest based on SOFR or a base rate plus a margin tied to leverage, are guaranteed by Redwire subsidiaries, and are secured by first-priority liens, imposing customary covenants on additional debt, asset sales and dividends.

On the same date, the company fully repaid and terminated its Adams Street Credit Agreement, which was scheduled to mature on April 28, 2027, without incurring termination penalties, simplifying its capital structure. Management said these refinancing actions, along with 2025 ATM-driven debt repayment, materially strengthened liquidity and are expected to reduce annual interest expense, supporting Redwire’s transition from development programs toward higher-margin production work.

For the fourth quarter and full year ended December 31, 2025, Redwire reported revenue growth to $108.8 million for the quarter and $335.4 million for the year, achieving the top end of its 2025 revenue guidance range and ending with record contracted backlog of $411.2 million and a book-to-bill ratio of 1.32. The company highlighted wins in Very Low Earth Orbit, including a $44 million DARPA Otter phase 2 award, an eight-figure docking systems deal with The Exploration Company, expanded ISS payload activity, and integration of Edge Autonomy’s uncrewed aerial systems business.

Despite stronger top-line performance and a 103.2% increase in total liquidity to $130.2 million at year-end 2025, Redwire’s net loss widened to $226.6 million for the year and $85.5 million for the quarter, reflecting more than $130 million and $40 million, respectively, in non-recurring items and negative EAC adjustments on development programs. Adjusted EBITDA fell to negative $50.3 million for 2025 and negative $18.1 million in the fourth quarter, underscoring the challenge of converting strong demand into profitability even as management positions the business for margin improvement as programs move into production.

The most recent analyst rating on (RDW) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Redwire stock, see the RDW Stock Forecast page.

Spark’s Take on RDW Stock

According to Spark, TipRanks’ AI Analyst, RDW is a Neutral.

The score is held back primarily by weak financial performance (large losses and negative operating/free cash flow). Technicals are a meaningful positive with strong trend/momentum, and the latest earnings call showed improving adjusted profitability and backlog/book-to-bill strength, but guidance was tempered by government-shutdown timing risk. Valuation provides limited support due to the negative P/E and no dividend yield.

To see Spark’s full report on RDW stock, click here.

More about Redwire

Redwire Corporation is an integrated space and defense technology company focused on advanced aerospace infrastructure, autonomous systems and multi-domain operations, leveraging digital engineering and AI automation. With about 1,410 employees across the U.S. and Europe, it delivers space and airborne platforms for government and commercial customers in rapidly evolving space and defense markets.

Average Trading Volume: 22,011,269

Technical Sentiment Signal: Hold

Current Market Cap: $1.39B

For detailed information about RDW stock, go to TipRanks’ Stock Analysis page.