Gone are the days when businesses were limited to the pale blue dot of Earth. Companies like Firefly Aerospace are setting their sights on the final frontier of space. If you're a growth investor who's taken notice of this trend, you may be interested in buying Firefly Aerospace stock.
For decades, access to space was restricted to those working with a government agency like NASA. Yet nowadays, private companies are gaining a prominent foothold among the stars. Novaspace, a space consulting and market intelligence firm, projects that the global space economy will grow from $596 billion in 2024 to $944 billion by 2033.
Firefly Aerospace is developing launch vehicles and spacecraft to provide leading services to customers. In March 2025, the company became one of the first commercial companies to complete a successful landing on the moon, where it delivered a suite of instruments for NASA.
Is it publicly traded?
Is Firefly Aerospace publicly traded?
As of May 2025, Firefly Aerospace was a private company. That means if you're hoping to gain a position in the space company, you're out of luck for now.
As a private company, Firefly Aerospace has raised capital via several funding rounds. The latest was a Series D funding round that raised $175 million and valued the company at over $2 billion in 2024. Overall, Firefly Aerospace has raised about $747 million from investors.
IPO
When will Firefly Aerospace IPO?
Gaining exposure to the burgeoning space industry may appeal to some growth investors. But as of May 2025, the company hadn't disclosed plans for an initial public offering (IPO). Though you won't find Firefly Aerospace on the IPO calendar, several other companies plan to go public in 2025.
IPO
How to invest
How to buy Firefly Aerospace stock
If you qualify as an accredited investor, you may be able to gain a position in Firefly Aerospace through platforms like Forge Global (FRGE 6.84%) and Hiive. But if you're not an accredited investor, you have other opportunities to gain exposure to both aerospace stocks and space stocks.
1. Intuitive Machines
Although many space-based businesses concentrate on operating in low-Earth orbit, Intuitive Machines (LUNR 11.64%) is committed to space activities largely focused on the moon. The company demonstrated its proficiency in landing on the lunar surface in March 2024, when it executed the southernmost lunar landing and surface operation on record. Partnering with NASA on several missions to the moon, Intuitive Machines has also collaborated with the U.S. Department of Energy, as well as the Air Force, on programs focusing on infrastructure development.
While this innovative growth company may seem like a high-risk option, a peek at its financials suggests that this isn't quite the case. Intuitive Machines ended 2024 with no debt and a backlog of $328.3 million -- a 22% year-over-year increase.
Investors may not have to wait too long before the company starts to demonstrate profitability. Management forecasts the company will achieve positive run-rate adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by the end of 2025, and it will report positive adjusted EBITDA in 2026.
2. Rocket Lab USA
Operating from three launch pads located in New Zealand and Virginia, Rocket Lab USA (RKLB 13.12%) has emerged as one of the leaders in space flight. In 2024, Rocket Lab completed 16 launches (a company record) that had a 100% success rate.
The company demonstrated its rocket prowess with its Electron rocket, which is the second most frequently launched U.S. rocket annually. Rocket Labs plans on expanding its allure for customers in 2025 with the Neutron rocket. Expected to launch in the second half of 2025, the Neutron rocket is designed for mega-constellation deployment, deep space missions, as well as human spaceflight. Whereas the Electron rocket can deliver a payload of up to 661 pounds to low-Earth orbit, the Neutron is capable of payloads of up to 28,660 pounds.
With respect to its financials, Rocket Lab blasted higher at the top of the income statement. For 2024, revenue soared 78.3% year over year to $436.2 million. Growth in profitability appeared in the form of its gross profit margin, which expanded to 26.6% in 2024 from 21% in 2023.
3. MDA Space
Founded in 1969 in the midst of the Space Race, MDA Space (MDAL.F 0.88%) represents a space industry stalwart. The company may be alluring to risk-averse investors committed to space stocks due to its long operating history.
The company's diverse operations are also a draw. In addition to its space robotics and rovers business, MDA Space develops communications satellites, characterizing itself as "one of the largest radar information providers worldwide."
In 2024, MDA Space reported revenue of $1.08 billion CAD, a 34% increase over that which it reported in 2023, and $79 million CAD in net income. With a backlog of nearly $4.4 billion CAD at the end of 2024, MDA Space seems like it's all systems go on continued growth in the years to come.
Accredited investors may be able to access platforms that provide opportunities to buy pre-IPO stocks. But if you're a retail investor who's interested in purchasing shares of Intuitive Machines, Rocket Lab, and MDA Space (or any other publicly traded company), you can buy stocks in just a few simple steps.
1) Open your brokerage app. Log into your brokerage account where you handle your investments.
2) Search for the stock. Enter the ticker or company name into the search bar to bring up the stock's trading page.
3) Decide how many shares to buy. Consider your investment goals and how much of your portfolio you want to allocate to this stock.
4) Select order type. Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
5) Submit your order. Confirm the details and submit your buy order.
6) Review your purchase. Check your portfolio to ensure your order was filled as expected, and adjust your investment strategy accordingly.
Profitability
Is Firefly Aerospace profitable?
Public companies are mandated to regularly submit financial filings, but privately held companies like Firefly Aerospace aren't subject to the same requirements. Consequently, investors aren't able to evaluate the company's financial health. Should management find itself on a trajectory toward holding an IPO, the company will be required to submit Form S-1, which will provide investors with a clearer understanding of the company's financial well-being.
Should I invest?
Should I invest in Firefly Aerospace?
For many investors, the question of whether to invest in Firefly Aerospace is moot since the company isn't listed on major markets. If the company eventually decides to go public, investors will gain a better understanding of the company's financial health when it submits the requisite regulatory filings.
Accredited investors, on the other hand, may be able to presently pick up exposure to Firefly Aerospace through a platform that enables trading of pre-IPO stocks. These investors must practice considerable caution, though, since the company's financial situation isn't widely known, making it an option for those with high thresholds for risk.
Whether you're considering an investment in Firefly Aerospace or another stock, make sure you're clear about the rewards and risks of investing in space stocks. On one hand, investing in the space industry can help investors diversify their portfolios, as well as provide the potential for high returns.
Conversely, with the industry in its nascent phase of development, investors are exposing themselves to a higher degree of risk than they would assume if they invested in a well-established industry. In addition to experiencing volatility, investors risk their investments failing to flourish if the industry takes longer to mature than they had previously expected.
ETF options
ETFs with exposure to Firefly Aerospace
Because Firefly Aerospace isn't publicly traded, it's not a potential holding in exchange-traded funds (ETFs). But investors shouldn't fret, as there are several ETFs that provide alternative options.
- ARK Space Exploration & Innovation ETF (ARKX 4.29%): Since March 2021, the ARK Space Exploration & Innovation ETF has provided investors with access to a basket of companies operating in and around space. The ETF, led by Cathie Wood, has about $257 million in net assets as of May 2025. Kratos Defense & Security Solutions (KTOS 5.92%), Iridium Communications (IRDM 3.92%), and Rocket Lab represent the fund's top three holdings. Currently, the ARK Space Exploration & Innovation ETF has an expense ratio of 0.75%.
- SPDR S&P Aerospace & Defense ETF (XAR 3.34%): With about $2.8 billion in assets under management, the SPDR S&P Aerospace & Defense ETF is a sound option for conservative investors. Several leading drone stocks, AeroVironment (AVAV 5.29%), Boeing (BA -0.65%), and Kratos, make up the largest positions in the fund, while Rocket Lab and Intuitive Machines provide exposure to space stocks. With a gross expense ratio of 0.35%, the SPDR S&P Aerospace & Defense ETF is a smart option for those looking to keep management fees down.
Related investing topics
The bottom line on Firefly Aerospace
Firefly Aerospace may seem like an out-of-this-world investment opportunity. Unfortunately, investing in the space startup is limited right now to accredited investors who have access to trading platforms that offer investments in pre-IPO companies.
Should management decide to proceed with an IPO, though, non-accredited investors will be able to dig through the company's regulatory financial filings to determine if the stock is a good fit for their investment goals.
FAQ
Investing in Firefly Aerospace FAQ
How do I invest in Firefly Aerospace?
If you are an accredited investor, you may be able to invest in Firefly Aerospace through platforms like Forge Global. Those who aren't accredited investors will have to wait until the company holds an IPO before they can gain exposure to the company.
Is Firefly Aerospace on the stock market?
As of May 2025, Firefly Aerospace isn't listed on major exchanges since it's a private company.
What is the ticker for Firefly Aerospace?
Since it hasn't held an IPO, Firefly Aerospace doesn't have a stock ticker.
When will Firefly Aerospace IPO?
As of May 2025, Firefly Aerospace hasn't revealed any plans to hold an IPO.
