Redwire Corporation (NYSE:RDW) Q2 2023 Earnings Conference Call August 8, 2023 9:00 AM ET

Company Participants

Jeff Zeunik - Senior Vice President-Financial Planning & Analysis

Peter Cannito - Chairman & Chief Executive Officer

Jonathan Baliff - Chief Financial Officer

Conference Call Participants

Mike Crawford - B. Riley Securities

Greg Konrad - Jefferies

Suji DeSilva - ROTH MKM

Operator

Greetings, and welcome to Redwire's Space Q2 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I'll now turn the conference over to your host Jeff Zeunik. You may begin.

Jeff Zeunik

Thank you, Shamali, and good morning everyone. Welcome to Redwire second quarter 2023 earnings call. We hope that you've seen our earnings release, which we issued yesterday afternoon. It has also been posted in the investor relations section of our website@redwireSpace.com.

Let me remind everyone that during the call, Redwire Management may make forward-looking statements that reflect our beliefs, expectations, intentions, or predictions of the future. Our forward-looking statements are subject to risk and uncertainties that are described in more detail on slide two.

Additionally, to the extent we discussed non-GAAP measures during the call, please leave slide three, our earnings of our earnings release or the investor presentation on our website for the calculation of these measures and non-GAAP reconciliations. I am Jeff Zeunik, Redwire, Senior Vice President of Financial Planning and Analysis. Joining me on today's call are Peter Cannito, Chairman and Chief Executive Officer, and Jonathan Baliff, Chief Financial Officer.

With that, I would like to turn the call over to Pete. Pete?

Peter Cannito

Thank you, Jeff. During today's call, I will take you through a discussion of our key accomplishments in the second quarter of 2023, followed by Jonathan, who will present the financial highlights for the same period. We will also discuss our continuing outlook for the remainder of 2023, after which we will open the floor for Q&A.

Please move to slide 6. I'm very pleased to report that the second quarter was another record quarter for financial performance at Redwire. Our ability to deliver high-quality solutions and products to our customers is in turn enabling us to deliver tangible financial results for our shareholders.

During the second quarter of 2023, we achieved record revenue, gross profit and adjusted EBITDA. We recognized our first quarter of positive cash from operations and positive free cash flow, made multiple strategic investments in the business to drive future growth, expanded our margins and continued to execute and win more leading-edge high potential contracts.