New York, May 18, 2026, 06:06 EDT
Redwire Corp traded flat ahead of the U.S. open Monday, sticking close to Friday’s finish after climbing in each of the last five sessions. Investors were watching a defense tech event in Florida for direction on the space and drone company’s recent run. Shares last showed at $14.06, barely above the previous close, in premarket quotes on the New York Stock Exchange.
Redwire shares rose 27% for the week ended May 15, going from $11.07 to $14.06. The biggest gain came May 14, when the stock jumped 22.08%. Timing played a role.
Redwire plans to display its Stalker and Penguin uncrewed aerial systems plus its Octopus optical camera payloads at SOF Week in Tampa, which runs May 18-21. Investors get another look at the defense market after the company’s stock rise on its backlog and demand for autonomous systems.
Redwire reported a contracted backlog of $498.1 million as of March 31, up from $411.2 million at the end of 2025. Traders quickly focused on the backlog number, which covers work under contract that hasn’t been done yet and is seen as an indicator for future revenue, though it’s not a sure thing.
Redwire Corporation posted first-quarter revenue of $97.0 million, up from $61.4 million last year, and gross margin increased to 26.6% from 14.7%. Net loss for the quarter came in at $76.5 million, compared with a $2.9 million loss a year ago.
Redwire’s chairman, chief executive and president Peter Cannito said the company is seeing “very strong demand” and highlighted a book-to-bill ratio of 1.92. Book-to-bill is orders won divided by revenue in the same period, so anything above 1 signals contract wins are outpacing deliveries. Redwire Corporation
Redwire Chief Financial Officer Chris Edmunds said gains in gross margin and operating cash flow were down to stronger operations and portfolio moves. The company kept its 2026 revenue outlook in place at $450 million to $500 million.
Speculative space stocks were under pressure in early premarket action. Rocket Lab and Intuitive Machines each dropped over 5% before the open, with the Russell 2000 ETF IWM, a stand-in for small-caps, also trading lower.
Redwire is back to moving mostly on its own contract news and less on momentum in space stocks. SOF Week is a test for whether the company’s drone and ISR products are starting to pick up actual buyer interest, not just the deals it reported last quarter.
But there’s a clear negative. Redwire started a new at-the-market stock sale program on May 6, letting it sell up to $350 million of common shares over time. This kind of program allows new shares to hit the market, diluting current holders. The company also said that some backlog could shrink if contracts are terminated or if annual funding caps kick in.
NYSE stays open Monday, with the next scheduled holiday on Memorial Day, May 25, 2026, according to its official calendar. Monday’s session has eyes on Redwire—traders will watch to see if the company’s backlog and new drone demo keep buyers in or prompt some profit-taking.
