Redwire reports positive operating cash flow in 2023 and 51.9% rev increase, 2/3 of it from QinetiQ Belgium purchase

by Peter B. de Selding

LA PLATA, Maryland — Diversified space-hardware manufacturer Redwire Corp. reported its first year of positive operating cash flow in 2023 on the back of a 51.9% increase in revenue, with two-thirds of the growth coming from its late-2022 purchase of QinetiQ Space NV of Belgium.

Florida-based Redwire said its successes in orbit of multiple types of hardware and subsystems is allowing it to move into full space system manufacturing and complete satellites. QinetiQ, renamed Redwire Space NV, has long provided the Proba line . . .

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