Jonathan Baliff: Yes, 372.8 is this – we’re entering the year with 37.8. Last year, on an equivalent basis, I’ve emphasized that contracted backlog, last year, it was $313.1 million. So you’re talking about a very significant increase in backlog with — remember, we had almost $244 million of revenue. So we are — you’re seeing an increase of the increase on contracted backlog on an apples-to-apples basis, Brian. So getting to your question, we don’t give that. But if you look at — again, we always say that our contracts are around 2 years. Now Redwire 101, we talked about that profile, you can see that we’re getting good visibility into ’24 and ’25 with this level of backlog increase.
Peter Cannito: Yes. The numbers are 372 to 300 forecast is a reasonable amount of backlog to support our forecast of the year.
Brian Kinstlinger: Okay. Thank you.
Operator: Thank you. Our next question is coming from Greg Konrad with Jefferies. Please proceed with your question.
Greg Konrad: Good morning.
Peter Cannito: Hi, Greg.
Jonathan Baliff: Hey, Greg.
Greg Konrad: Maybe just to ask the last question in a different way. You carried a range for revenue guidance throughout the year, even into the final quarter. And this year, you’re guiding to more of a point estimate. Has anything changed in terms of how you guide or what you’re seeing or risks that cause that variability that make you more comfortable this year to give a point estimate versus a range?
Peter Cannito: Our forecasting, we believe is maturing. So we are trying to tighten the range. I think in this particular case, it was just about keeping it simple. A lot of times in last year, we found that if we gave a range, people get selected the midpoint. So we thought that it would be more appropriate to just select where we think that things are going to come out and then keep it simple throughout the year.
Greg Konrad: And then maybe just to follow up on drivers. I mean I appreciate laying out the six core offerings, and we probably could place it that way regionally or even by customer. But at least near term, thinking of those six core offerings, are there one or two areas that drive more of the growth and then maybe longer-term areas of those six that are lead to maybe more upside? Or how are you thinking about growth across those six areas?
Peter Cannito: So I think all of them have significant growth potential. If you were to say currently, and we don’t break it down by specific numbers, but the solar array business has been really strong. There’s been a really positive reception to our rollout solar array technology, highly differentiated. It has a lot of great heritage. So I think certainly, solar is a big part of it. Moving up the value chain and looking at more platforms and full payloads, like I said, in that segment has a lot of high growth potential as well. I think one of the things that I find most exciting about Redwire is the portfolio effect of our offerings. Again, we don’t break it down this way, but we have some offerings that I would characterize as very high volume potential, but perhaps lower gross margin.
We have other offerings that I would characterize as having maybe more limited total addressable market, but tend to have better gross margins. So we can take that portfolio effect and manage our offerings and focus our growth dollars in a way that help us balance our revenue and profitability over the long term.
Greg Konrad: I’ll leave it at two. Thank you.
Peter Cannito: Thank you very much. Greg.
Jonathan Baliff: Thanks, Greg.
Peter Cannito: I did — just to follow up, go back into the archives and see that we announced that we are partnered with Firefly on the Blue Ghost Lunar Lander. So in addition to Intuitive machines and Firefly and we obviously know all the other ones as well. So just a follow-up on that.
Operator: Thank you. We have reached the end of our question-and-answer session. So I’d like to turn the floor back over to management for any additional concluding remarks.
Peter Cannito: All right. Well, we appreciate the engagement, as always. Thank you for participating in today’s call and go Redwire.
Operator: Thank you. Ladies and gentlemen, this does conclude today’s teleconference and webcast. We thank you for your participation, and you may disconnect your lines at this time.
