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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% | - |
| 2024 | $61M | $-196M | $-231M | $-190M | 30.1% | 10.1% | - |
| 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 | 55.23 | 60.79 | 159.85 |
| Cost Of Revenue | 28.64 | 72.16 | 129.19 |
| Gross Profit | 26.60 | -11.37 | 30.67 |
| Operating Expense | 158.48 | 196.35 | 291.36 |
| Operating Income | -131.88 | -207.71 | -260.70 |
| EBITDA | -123.87 | -195.62 | -290.75 |
| EBIT | -128.57 | -208.16 | -313.90 |
| Pretax Income | -135.46 | -231.13 | -335.47 |
| Tax Provision | 0 | 0 | -37.13 |
| Net Income | -135.46 | -231.13 | -298.34 |
| Net Income Common Stockholders | -156.27 | -265.81 | -333.96 |
| Total Expenses | 187.11 | 268.50 | 420.55 |
| Interest Expense | 6.88 | 22.97 | 21.56 |
| Interest Income | 2.92 | 2.60 | 18.19 |
| Research And Development | 117.87 | 149.50 | 200.12 |
| Selling General And Administration | 40.60 | 46.85 | 91.25 |
| Normalized EBITDA | -123.72 | -192.23 | -218.46 |
| Normalized Income | -135.31 | -227.74 | -234 |
| Basic EPS | -1,229.57 | -1.86 | -4.83 |
| Diluted EPS | -1,229.57 | -1.86 | -4.83 |
| Tax Effect Of Unusual Items | 0 | 0 | -7.95 |
| Tax Rate For Calcs | 0 | 0 | 0.11 |
| Total Unusual Items | -0.15 | -3.39 | -72.29 |
| Total Unusual Items Excluding Goodwill | -0.15 | -3.39 | -72.29 |
| Net Income From Continuing Operation Net Minority Interest | -135.46 | -231.13 | -298.34 |
| Reconciled Depreciation | 4.71 | 12.54 | 23.16 |
| Reconciled Cost Of Revenue | 28.64 | 72.16 | 129.19 |
| Net Interest Income | -3.96 | -20.37 | -3.38 |
| Net Income From Continuing And Discontinued Operation | -135.46 | -231.13 | -298.34 |
| Total Operating Income As Reported | -131.88 | -209.45 | -260.69 |
| Diluted Average Shares | 0.13 | 143.15 | 69.20 |
| Basic Average Shares | 0.13 | 143.15 | 69.20 |
| Diluted NI Availto Com Stockholders | -156.27 | -265.81 | -333.96 |
| Preferred Stock Dividends | 20.81 | 34.68 | 35.62 |
| Net Income Including Noncontrolling Interests | -135.46 | -231.13 | -298.34 |
| Net Income Continuous Operations | -135.46 | -231.13 | -298.34 |
| Other Income Expense | 0.38 | -3.05 | -71.39 |
| Other Non Operating Income Expenses | 0.53 | 0.34 | 0.89 |
| Special Income Charges | 0 | -1.74 | -21.99 |
| Gain On Sale Of Ppe | 0 | -1.74 | 0.01 |
| Other Special Charges | 0 | 0 | 30.40 |
| Restructuring And Mergern Acquisition | 0 | 0 | -8.40 |
| Gain On Sale Of Security | -0.15 | -1.65 | -50.30 |
| Net Non Operating Interest Income Expense | -3.96 | -20.37 | -3.38 |
| Interest Expense Non Operating | 6.88 | 22.97 | 21.56 |
| Interest Income Non Operating | 2.92 | 2.60 | 18.19 |
| Operating Revenue | 55.23 | 60.79 | 159.85 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Firefly Aerospace Inc.this co. | FLY | $5.4B | - | 4.48 | -25.1% | -23.98 |
| Construction Partners, Inc. | ROAD | $6.5B | 52.19 | 6.73 | 11.2% | 17.97 |
| Plug Power Inc. | PLUG | $4.8B | - | 4.86 | -162.6% | -7.99 |
| Tutor Perini Corporation | TPC | $4.5B | 56.98 | 3.73 | 6.4% | 15.23 |
| The Brink's Company | BCO | $4.4B | 22.84 |
| 15.89 |
| 49.0% |
| 8.43 |
| Herc Holdings Inc. | HRI | $4.4B | - | 2.25 | 0.1% | 15.30 |
| Archer Aviation Inc. | ACHR | $4.2B | - | 1.89 | -28.1% | -3.28 |
| GPGI, Inc. | GPGI | $4.2B | - | 7.52 | -55.9% | -335.00 |
| Intuitive Machines, Inc. | LUNR | $4.0B | - | -3.98 | -40.9% | -55.99 |
| Peer Median | - | 52.19 | 4.29 | -14.0% | 2.58 | |