Firefly Aerospace
Builds rockets, lunar landers, orbital vehicles and defense software for responsive space missions.
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Profile
Earns contract revenue from dedicated rocket launches, lunar landers, orbital vehicles, imaging and defense software for government and commercial customers. Alpha and Blue Ghost are flight-proven while Eclipse remains in development, and a material portion of revenue comes directly or indirectly from U.S. government contracts.
Provides launch and spacecraft systems to U.S. government, allied and commercial customers. Launch centers on the operational Alpha small-lift rocket and Eclipse, a reusable medium-lift vehicle in development with Northrop Grumman. Spacecraft Solutions includes Blue Ghost lunar landers, Elytra orbital vehicles, Ocula imaging, SciTec defense software and sensors, and Space-ng autonomous navigation.
Central Texas engineering, manufacturing and testing support vertical integration, while shared engines, avionics, structures and software link the rocket and spacecraft families. Alpha has executed rapid-response launches, and Blue Ghost completed a commercial lunar landing and NASA surface mission. Operations use U.S. launch sites, with a Swedish site under construction.
A material share of revenue depends on U.S. government contracts, which carry appropriations, audit, security-clearance, export-control and termination requirements. Launch timing also depends on FAA licensing and vehicle performance.
Company facts
Categories
Key statistics
Year to date −10.4% · Average volume (30d) 3.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Jefferies | Target | $52 | $35 | ||
| Aug 12, 2026 | Roth Capital | Reiterate | Buy | $60 | $45 | |
| Jul 27, 2026 | Wells Fargo | Target | $25 | |||
| Jun 15, 2026 | Keybanc | Upgrade | Sector Weight | Overweight | ||
| Jun 14, 2026 | KeyBanc | Target | $50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.51 | −$0.42 | +18.1% | $88.2M | $117.7M | +33.4% | +0.68% |
| May 4, 2026Q1 FY26 | −$0.50 | −$0.46 | +8.0% | $77.1M | $80.9M | +4.9% | −5.54% |
| Mar 19, 2026Q4 FY25 | −$0.48 | −$0.38 | +20.8% | $52.4M | $57.7M | +10.0% | +1.13% |
| Nov 12, 2025Q3 FY25 | −$0.41 | −$0.33 | +19.4% | $27.7M | $30.8M | +11.1% | +16.99% |
Financial highlights
| 8 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $55.9M | $15.5M | $30.8M | $57.7M | $80.9M | $117.7M | |
| Gross profit | $2.2M | $4.0M | $8.5M | $12.7M | $10.3M | $23.9M | |
| Operating income | −$58.5M | −$54.4M | −$62.2M | −$81.0M | −$95.7M | −$95.2M | |
| Net income | −$60.1M | −$63.8M | −$133.4M | −$41.1M | −$96.7M | −$92.3M | |
| Diluted EPS | −$0.50 | −$0.56 | −$0.95 | −$0.26 | −$0.61 | −$0.57 | |
| Gross margin | 4.0% | 25.7% | 27.6% | 22.0% | 12.7% | 20.3% | |
| Operating margin | -104.8% | -349.5% | -202.1% | -140.5% | -118.3% | -80.9% |
Fiscal years (4-quarter sums)FY25 $159.9M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $635.3M · Total debt $53.4M · Total assets $1.64B · Shareholders' equity $1.22B
Dividends
No dividends on record.
Ownership
Shares outstanding 164.24M · Float 142.34M · 86.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| AeroEquity GP, LLC | 58.81M | 36.90% | 13G | Feb 2, 2026 |
| Ae Industrial Partners, LP | 34.53M | 21.03% | 13F | Aug 14, 2026 |
| Astera Institute | 13.08M | 8.90% | 13G | Nov 10, 2025 |
| Markusic Thomas E · 10 percent owner | 7.48M | 4.55% | Form 4 | Aug 6, 2025 |
| BlackRock, Inc. | 5.90M | 3.59% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 18, 2026 | David Leigh Wheeler | officer: General Counsel | −3,765 | $45.12 |
| Apr 17, 2026 | David Leigh Wheeler | officer: General Counsel | −3,766 | $45.04 |
Peers
- Rocket Lab
Small- and medium-lift launch, spacecraft, and national security space systems.
- Intuitive Machines
Commercial lunar lander rival; Nova-C/D contests the same NASA CLPS task orders.
- Karman
Launch vehicle and missile hardware: payload fairings, interstage, propulsion.
- Redwire
Space infrastructure, deployable structures, and multi-domain defense tech.
- Voyager Technologies
Defense and national security space tech, in-space services, commercial station.
- Kratos Defense & Security Solutions
Satellite ground systems, tactical drones, hypersonic test vehicles, defense C2.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Firefly Aerospace | $21.17 | −0.56% | $3.49B | — | — | 12.2 | +656.9% |
| Rocket Lab | $64.56 | +0.25% | $37.27B | — | — | 48.5 | +62.0% |
| Intuitive Machines | $15.49 | +0.75% | $2.45B | — | — | 5.0 | +309.8% |
| Karman | $46.00 | +0.90% | $6.04B | 160.0 | 61.1 | 10.2 | +58.2% |
| Redwire | $10.87 | 0.00% | $2.60B | — | — | 6.1 | +89.6% |
| Voyager Technologies | $34.18 | −0.48% | $2.08B | — | — | 11.9 | +15.5% |
| Kratos Defense & Security Solutions | $52.02 | +0.02% | $9.75B | 305.2 | 54.5 | 6.4 | +30.5% |
| Median | 232.6 | 57.8 | 8.3 | +60.1% |