Firefly Aerospace CEO Jason Kim (center) during the company’s initial public offering on the Nasdaq Marketsite on Thursday, August 7, 2025 in New York, USA.
Michael Nagle | Bloomberg | Getty Images
firefly aerospaceThe company’s stock rose 15% Wednesday after the space technology company reported better-than-expected third-quarter results and raised its guidance.
Third-quarter revenue increased nearly 38% to $30.8 million from $22.4 million in the year-ago period and nearly doubled from the previous quarter.
Firefly’s net loss totaled $140.4 million, or $1.50 per share. The company said its net loss included costs related to the IPO, foreign exchange and executive severance benefits.
The company also raised its outlook for this year, saying it expects sales to be in the range of $150 million to $158 million. This is an increase from previous guidance of a range of $133 million to $145 million.
This is Firefly’s second quarterly report as a public company. Last quarter, the company posted larger losses and lower revenue than analysts had expected, and its stock price fell.
The Cedar Park, Texas, company went public on the Nasdaq in August amid growing enthusiasm for space technology. The US government and NASA are relying on further contracts with companies such as Firefly and Elon Musk’s SpaceX to support moon missions.
But Firefly’s stock has lost 70% of its value since its opening day close, and the company’s market capitalization plummeted from about $8.5 billion to about $2.7 billion on Wednesday.
In September, just days after receiving clearance from the Federal Aviation Administration for a separate incident, a rocket exploded during a ground test at the company’s Texas facility, sending Firefly stock into decline. The company announced Wednesday that it has since taken “corrective action.” The stock fell 35% in September and is down 24% this month.
In July, Firefly won a nearly $177 million contract with NASA for upcoming moon missions, and in October it announced the acquisition of defense technology company Cytech to strengthen its national security portfolio.
