(Redwire) Shares of Redwire Corporation lost more than a quarter of value on Friday after reporting a loss of $61.5 million in FY21, worsening by $47.2 million from the prior year.
The widening loss happened at the back of an increase in overall costs, with the SG&A expenses hitting $78.7 million, up by $65.6 million. The company’s interest expenses also widened by $5.4 million to $6.5 million, while cost of sales hit $108.2 million, from $75.5 million.
Redwire managed to post a robust 237% or $96.8 million increase in revenue to $137.6 million in FY21. Newly acquired businesses contributed $32.8 million to 2021 revenues.
The company announced an EBITDA of $1.3 million, an improvement of $0.8 million from the prior year.
Redwire expects robust sales in 2022, guiding its revenue to range between $165 million to $195 million and adjusted EBITDA to be between $8 million and $15 million.
RDW: NYSE is down -26.33%.
