What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Redwire (RDW) revenue becomes net income?

For TTM through Q1 2026, Redwire turned $370.96M of revenue into −$300.11M of net income — a net margin of -80.9%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Redwire (RDW) gross, operating, and net margins?

For TTM through Q1 2026, Redwire reported a gross margin of 9.2%, an operating margin of -76.6%, and a net margin of -80.9%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Redwire (RDW) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Redwire (RDW) Income Statement Waterfall

Revenue

$370.96M

Gross Margin

+9.2%

Operating Margin

-76.6%

Net Margin

-80.9%

Income statement waterfall for Redwire (RDW) — TTM through Q1 2026

Net income: −$300.11M

Margin breakdown for Redwire (RDW) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$370.96M	$370.96M
Cost of Revenue	−$336.91M	$34.05M
Gross Profit	$34.05M	$34.05M
Operating Expenses	−$318.20M	−$284.15M
Operating Income	−$284.15M	−$284.15M
Other Income / Expense	−$40.15M	−$324.30M
Pre-tax Income	−$324.30M	−$324.30M
Tax Benefit	$24.19M	−$300.11M
Net Loss	−$300.11M	−$300.11M

Revenue$370.96M
Cost of Revenue−$336.91M
Gross Profit$34.05M
Operating Expenses−$318.20M
Operating Income−$284.15M
Other Income / Expense−$40.15M
Pre-tax Income−$324.30M
Tax Benefit$24.19M
Net Loss−$300.11M

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Buybacks3.74% TTM

No dividends or stock splits on record for this company.

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Income statement waterfall for Redwire (RDW) — TTM through Q1 2026

Margin breakdown for Redwire (RDW) — TTM through Q1 2026

Frequently asked questions

+What is an income statement waterfall?

+How much of Redwire (RDW) revenue becomes net income?

+What are Redwire (RDW) gross, operating, and net margins?

+Why does Redwire (RDW) have such a high (or low) gross margin?

+What is the difference between gross, operating, and net margin?

Data & methodology

+What is this view?

+How to read this waterfall

+How is the data calculated?

+What is the USD toggle?

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