Firefly Aerospace(NASDAQ) FLY

Firefly helps government and commercial customers send satellites and tools into space. It builds rockets and moon landers to move cargo from Earth to the stars. These services make it easier for organizations to study space and protect national security.

What Firefly Builds

• Launch Vehicles: Rocket services including Alpha for small loads and Eclipse for larger cargo; Alpha has more than 30 launches under contract as of December 31, 2025.
• Spacecraft Solutions: Maneuverable vehicles like Elytra and Blue Ghost designed for orbit changes and landing on the moon.
• National Security Software: Advanced data processing and AI tools for tracking missiles and monitoring space activity.
• Lunar Services: Delivery of scientific instruments to the moon's surface, including the Blue Ghost Mission 1 that landed on March 2, 2025.

Recent Business Moves

• Acquired SciTec on October 31, 2025, to add artificial intelligence software and data processing for defense missions.
• Formed an exclusive partnership with Northrop Grumman in August 2022 to co-develop the medium-lift Eclipse rocket.
• Signed a multi-launch agreement with Lockheed Martin for up to 25 missions over five years.
• Agreed to provide L3Harris with up to 20 launches on the Alpha rocket through 2031.
• Selected Blue Origin to build a moon rover that will travel on a future Firefly lunar mission.

What Makes Firefly Different

The company is the first private U.S. firm to successfully land and operate on the moon since the 1970s. It uses a common design across its rockets and landers, which allows it to build and test vehicles more quickly than many competitors.

The Financial Scorecard

• Revenue reached $57.7 million in Q4 2025.
• Total backlog was approximately $1.4 billion as of December 31, 2025.
• Net loss widened to $298.3 million for the year ended December 31, 2025, compared to $231.1 million in 2024.
• Operating cash flow was negative $67.3 million in Q4 2025.

The Bottom Line

Firefly has transitioned from a rocket developer to a multi-service space firm with successful lunar and orbital missions. Its growth is now driven by a mix of hardware manufacturing and high-tech defense software.