Redwire Corp
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2024
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission file number 001-39733
Redwire Corporation
(Exact name of registrant as specified in its charter)
| Delaware | 98-1550429 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 8226 Philips Highway, Suite 101Jacksonville, Florida | 32256 |
| (Address of Principal Executive Offices) | (Zip Code) |
(650)701-7722
Registrant's telephone number, including area code
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.0001 per share | RDW | New York Stock Exchange |
| Warrants, each to purchase one share of Common Stock | RDW WS | New York Stock Exchange |
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No☒
The registrant had outstanding 66,535,537 shares of common stock as of August 2, 2024.
QUARTERLY REPORT ON FORM 10-Q
JUNE 30, 2024
TABLE OF CONTENTS
| ITEM · Page | ||
|---|---|---|
| PART I. FINANCIAL INFORMATION | ||
| Item 1. | Financial Statements (Unaudited) | 6 |
| Condensed Consolidated Balance Sheets | 6 | |
| Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | 8 | |
| Condensed Consolidated Statements of Changes in Equity (Deficit) | 9 | |
| Condensed Consolidated Statements of Cash Flows | 11 | |
| Notes to Condensed Consolidated Financial Statements | 12 | |
| Note A – Description of the Business | 12 | |
| Note B – Summary of Significant Accounting Policies | 12 | |
| Note C – Fair Value of Financial Instruments | 14 | |
| Note D – Accounts Receivable, net | 16 | |
| Note E – Inventory | 16 | |
| Note F – Debt | 17 | |
| Note G – Leases | 18 | |
| Note H – Income Taxes | 19 | |
| Note I – Commitments and Contingencies | 20 | |
| Note J – Convertible Preferred Stock | 21 | |
| Note K – Revenues | 22 | |
| Note L – Employee Benefit Plans | 24 | |
| Note M – Equity-Based Compensation | 25 | |
| Note N – Net Income (Loss) per Common Share | 28 | |
| Note O – Joint Venture | 28 | |
| Note P – Related Parties | 29 | |
| Note Q – Subsequent Events | 30 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 31 |
| Item 3. | Quantitative and Qualitative Disclosures Regarding Market Risk | 40 |
| Item 4. | Controls and Procedures | 40 |
| PART II. OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 41 |
| Item 1A. | Risk Factors | 42 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 42 |
| Item 3. | Defaults Upon Senior Securities | 42 |
| Item 4. | Mine Safety Disclosures | 42 |
| Item 5. | Other Information | 42 |
| Item 6. | Exhibits | 42 |
| Signatures | 43 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.