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Firefly Aerospace Inc. operates as a space and defense technology company and provides mission solutions for national security, government, and commercial customers. The company offers integrated launch and space services technology that is committed to enabling launch, transit, and operations in space. It also provides Launch solutions, such as Alpha, a responsive launch services; and Eclipse, a medium-lift launch vehicles. In addition, the company offers spacecraft solutions platforms, including Blue Ghost, a lunar delivery and operation service; and Elytra, which provides space maneuverability and servicing. Further, it provides software and sensor solutions; national security software and big data processing capabilities; and responsive space services, as well as Ocula, a lunar imaging service. Firefly Aerospace Inc. was incorporated in 2017 and is headquartered in Cedar Park, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $160M | $-291M | $-298M | $-238M | -25.1% | 163.0% | 29.1% |
| 2024 | $61M | $-196M | $-231M | $-190M | 30.1% | 10.1% | 70.6% |
| 2023 | $55M | $-124M | $-135M | $-171M | 26.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 55.24 | 60.79 | 159.85 |
| Operating Revenue | 55.24 | 60.79 | 159.85 |
| Cost Of Revenue | 28.64 | 72.16 | 129.19 |
| Gross Profit | 26.60 | -11.36 | 30.67 |
| Operating Expense | 158.48 | 196.35 | 291.36 |
| Research And Development | 117.87 | 149.50 | 200.12 |
| Selling General And Administration | 40.60 | 46.85 | 91.24 |
| Total Expenses | 187.11 | 268.50 | 420.55 |
| Operating Income | -131.88 | -207.71 | -260.70 |
| Total Operating Income As Reported | -131.88 | -209.45 | -260.69 |
| EBITDA | -123.87 | -195.62 | -290.75 |
| Normalized EBITDA | -123.72 | -192.23 | -218.46 |
| EBIT | -128.57 | -208.16 | -313.90 |
| Interest Income | 2.92 | 2.60 | 18.19 |
| Interest Expense | 6.88 | 22.97 | 21.56 |
| Net Interest Income | -3.96 | -20.37 | -3.38 |
| Other Non Operating Income Expenses | 0.53 | 0.34 | 0.89 |
| Other Income Expense | 0.38 | -3.05 | -71.40 |
| Interest Income Non Operating | 2.92 | 2.60 | 18.19 |
| Interest Expense Non Operating | 6.88 | 22.97 | 21.56 |
| Net Non Operating Interest Income Expense | -3.96 | -20.37 | -3.38 |
| Pretax Income | -135.46 | -231.13 | -335.47 |
| Tax Provision | 0 | 0 | -37.13 |
| Tax Rate For Calcs | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | -7.95 |
| Net Income Continuous Operations | -135.46 | -231.13 | -298.34 |
| Net Income From Continuing And Discontinued Operation | -135.46 | -231.13 | -298.34 |
| Net Income From Continuing Operation Net Minority Interest | -135.46 | -231.13 | -298.34 |
| Net Income | -135.46 | -231.13 | -298.34 |
| Net Income Common Stockholders | -156.27 | -265.81 | -333.96 |
| Net Income Including Noncontrolling Interests | -135.46 | -231.13 | -298.34 |
| Normalized Income | -135.31 | -227.74 | -234 |
| Diluted NI Availto Com Stockholders | -156.27 | -265.81 | -333.96 |
| Basic Average Shares | 0.13 | 143.15 | 69.20 |
| Diluted Average Shares | 0.13 | 143.15 | 69.20 |
| Reconciled Depreciation | 4.71 | 12.54 | 23.16 |
| Reconciled Cost Of Revenue | 28.64 | 72.16 | 129.19 |
| Total Unusual Items | -0.15 | -3.39 | -72.29 |
| Total Unusual Items Excluding Goodwill | -0.15 | -3.39 | -72.29 |
| Preferred Stock Dividends | 20.81 | 34.68 | 35.62 |
| Special Income Charges | 0 | -1.74 | -21.99 |
| Other Special Charges | - | - | 30.40 |
| Restructuring And Mergern Acquisition | 0 | 0 | -8.40 |
| Gain On Sale Of Security | -0.15 | -1.65 | -50.30 |
| Gain On Sale Of Ppe | 0 | -1.74 | 0.01 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Firefly Aerospace Inc.this co. | FLY | $6.8B | -22.75 | 5.70 | -25.1% | -21.68 |
| Commercial Metals Company | CMC | $8.5B | 99.90 | 2.02 | 2.0% | 19.98 |
| Terex Corporation | TEX | $7.2B | 32.39 | 3.42 | 10.5% | 14.31 |
| Fluor Corporation | FLR | $7.0B | -138.05 | 2.17 | -1.6% | -29.73 |
| Brookfield Business Corporation | BBUC | $6.8B | 262.64 |
| 2.98 |
| 1.1% |
| 6.66 |
| Construction Partners, Inc. | ROAD | $6.4B | 62.73 | 7.00 | 11.2% | 21.22 |
| GATX Corporation | GATX | $6.1B | 18.44 | 2.23 | 12.1% | 16.11 |
| Intuitive Machines, Inc. | LUNR | $5.4B | -64.78 | -7.15 | 11.0% | -54.52 |
| Plug Power Inc. | PLUG | $5.0B | -3.08 | 5.13 | -166.8% | -3.57 |
| Peer Median | - | 25.41 | 2.61 | 6.3% | 10.48 | |