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Redwire vs Voyager Technologies: revenue, profit, margins and growth compared

Redwire brought in $335.4M of revenue in fiscal 2025, Voyager Technologies $166.4M in fiscal 2025. Revenue changed by +10.3% at Redwire and +15.4% at Voyager Technologies on the year before, so Voyager Technologies grew faster. Redwire kept -67.6% of its revenue as net profit, Voyager Technologies -63.0%. Free cash flow was -$190.8M at Redwire and -$205.6M at Voyager Technologies.

Side by side, latest fiscal year

RDWVOYG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$335.4M$166.4M
Revenue growth+10.3%+15.4%
Net income-$226.6M-$104.8M
Net margin-67.6%-63.0%
Free cash flow-$190.8M-$205.6M
Free cash flow margin-56.9%-123.6%
Earnings per share (diluted)-$2.28-$2.89
Cash$94.5M$491.3M
Debt$85.2Mn/a
Price to earningsn/an/a
Market value$2.9B$1.9B
Dividend yieldn/an/a
Rank by revenue in sector#344 of 451 · Industrials#364 of 451 · Industrials

Over the years

Revenue
RDW FY2021: $137.6MRDW FY2022: $160.5MRDW FY2023: $243.8MRDW FY2024: $304.1MRDW FY2025: $335.4MVOYG FY2023: $136.1MVOYG FY2025: $144.2MVOYG FY2025: $166.4MFY21FY22FY23FY24FY25
RDW $335.4MVOYG $166.4M
Net income
RDW FY2021: -$61.5MRDW FY2022: -$130.6MRDW FY2023: -$27.3MRDW FY2024: -$114.3MRDW FY2025: -$226.6MVOYG FY2023: -$25.4MVOYG FY2025: -$62.1MVOYG FY2025: -$104.8MFY21FY22FY23FY24FY25
RDW -$226.6MVOYG -$104.8M
Net margin
RDW FY2021: -44.7%RDW FY2022: -81.4%RDW FY2023: -11.2%RDW FY2024: -37.6%RDW FY2025: -67.6%VOYG FY2023: -18.7%VOYG FY2025: -43.1%VOYG FY2025: -63.0%FY21FY22FY23FY24FY25
RDW -67.6%VOYG -63.0%
Revenue growth
RDW FY2022: +16.7%RDW FY2023: +51.9%RDW FY2024: +24.7%RDW FY2025: +10.3%VOYG FY2025: +6.0%VOYG FY2025: +15.4%FY22FY23FY24FY25
RDW +10.3%VOYG +15.4%
Free cash flow
RDW FY2021: -$39.5MRDW FY2022: -$35.3MRDW FY2023: -$4.4MRDW FY2024: -$23.7MRDW FY2025: -$190.8MVOYG FY2023: -$32.6MVOYG FY2025: -$108.2MVOYG FY2025: -$205.6MFY21FY22FY23FY24FY25
RDW -$190.8MVOYG -$205.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Redwire and Voyager Technologies

Which is bigger by revenue, Redwire or Voyager Technologies?

Redwire is bigger by revenue: $335.4M in fiscal 2025, against $166.4M for Voyager Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Redwire or Voyager Technologies?

Redwire had a net margin of -67.6% in fiscal 2025; Voyager Technologies had -63.0% in fiscal 2025.

Which grew revenue faster, Redwire or Voyager Technologies?

In their latest fiscal years revenue changed by +10.3% at Redwire and +15.4% at Voyager Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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