Redwire Corporation (NYSE:RDW) Q2 2024 Earnings Conference Call August 8, 2024 9:00 AM ET
Company Participants
Jeff Zeunik – Senior Vice President-Financial Planning, Analsys and Investor Relations
Peter Cannito – Chairman and Chief Executive Officer
Jonathan Baliff – Chief Financial Officer
Conference Call Participants
Griffin Boss – B. Riley
Greg Konrad – Jefferies
Brian Kinstlinger – Alliance Global
Andres Sheppard – Cantor Fitzgerald
Suji Desilva – ROTH Capital
Operator
Greetings, and welcome to the Redwire Space Second Quarter 2024 Earnings Call. At this time all participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Jeff Zeunik, Senior Vice President, Financial Planning and Analysis and Investor Relations. Please proceed.
Jeff Zeunik
Thank you, Latanya, and good morning, everyone. Welcome to Redwire's Second quarter 2024 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 at 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 risks and uncertainties that are described in more detail on Slide 2.
Additionally, to the extent we discuss non-GAAP measures during the call, please see Slide 3, our earnings release, or the investor presentation on our website for the calculation of these measures and their GAAP reconciliations.
I am Jeff Zeunik, Redwire's Senior Vice President of Financial Planning and Analysis and Investor Relations. 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 2024. Jonathan will then present the financial highlights for the same period, after which we will open the floor for Q&A.
Please turn to Slide 6. The second quarter of this year was another excellent quarter for Redwire, during which we continued our positive momentum from the first quarter. We once again delivered year-over-year revenue growth and positive adjusted EBITDA while delivering a strong performance in bids submitted and contracts awarded.
During the second quarter, we achieved $78.1 million in revenue, a 30% improvement over Q2 2023. It was another strong quarter for revenue. We had positive adjusted EBITDA of $1.6 million. We improved ending liquidity of $55.8 million as of June 30, 2024. We had $114.4 million in contracts awarded during the quarter with a last 12 months or LTM book-to-bill of 1.28 times. We had a net loss of $18.1 million for the quarter, which includes a $900 million negative impact due to an increase in the private warrant fair value.