Firefly Aerospace (NASDAQ:FLY – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.15, FiscalAI reports. The company had revenue of $110.68 million during the quarter. Firefly Aerospace had a negative return on equity of 24.80% and a negative net margin of 88.37%. Firefly Aerospace’s quarterly revenue was up 259.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.33) earnings per share.
Here are the key takeaways from Firefly Aerospace’s conference call:
- AST SpaceMobile agreement: Firefly signed a three-year deal valued at more than $1.3 billion, combining $400 million in cash, AST shares, support services, and engine deliveries. Firefly says the agreement provides non-dilutive funding for capacity growth and retains ownership of its engine IP, though it expects significant related investment.
- Growth and backlog: Third-quarter revenue rose 259% year over year to $110.7 million, backlog reached a record $1.7 billion, and Firefly raised the midpoint of its 2026 revenue guidance to $445 million. Management cited strength across spacecraft and software, partly offset by launch timing.
- Alpha launch timing: Alpha Flight 8 moved to the first quarter of 2027 after a national security customer requested a manifest change, delaying the launch from the company’s preferred year-end timing. Firefly said it has rockets in production and strong demand, but did not provide a 2027 launch target.
- Losses and cash use: Firefly reported a $75.4 million net loss and a $69.5 million adjusted EBITDA loss for the quarter, while free cash flow was negative $85.3 million. The company expects cash burn to increase through 2027 as it invests in AST-related R&D, production capacity, and infrastructure; quarter-end liquidity was $839.7 million.
Firefly Aerospace Stock Down 2.3%
Shares of Firefly Aerospace stock traded down $0.60 during trading on Thursday, reaching $26.01. The stock had a trading volume of 1,514,176 shares, compared to its average volume of 4,876,257. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -13.00 and a beta of 0.84. The stock has a fifty day moving average price of $20.55 and a two-hundred day moving average price of $26.75. Firefly Aerospace has a 52 week low of $14.44 and a 52 week high of $62.17.
Wall Street Analyst Weigh In
FLY has been the topic of a number of analyst reports. KeyCorp cut their price target on shares of Firefly Aerospace from $50.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. Wells Fargo & Company began coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 target price for the company. B. Riley Financial increased their target price on shares of Firefly Aerospace from $40.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays lifted their price target on shares of Firefly Aerospace from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.75.
Check Out Our Latest Analysis on Firefly Aerospace
More Firefly Aerospace News
These are some of the FLY news items that stood out recently:
- Positive Sentiment: Third-quarter revenue rose 259.4% year over year to $110.68 million, and the adjusted loss of $0.45 per share was narrower than analysts expected. The company ended September with a record $1.7 billion backlog. Firefly Aerospace Announces Third Quarter 2026 Financial Results With Record Backlog of $1.7 Billion
- Positive Sentiment: Analysts raised price targets: B. Riley moved its target to $54 and kept a Buy rating, while Barclays raised its target to $35 but maintained Equal Weight. New business includes European launch contracts and a Synspective booking. Synspective books Firefly Aerospace
- Negative Sentiment: Despite beating estimates, Firefly remains unprofitable: it lost $0.45 per share, compared with a $0.33 loss a year earlier. Scaling production and meeting launch commitments will be important to converting the backlog into revenue. Firefly Aerospace Narrows 3Q Loss as Revenue Takes Off
Institutional Investors Weigh In On Firefly Aerospace
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV bought a new stake in Firefly Aerospace in the 1st quarter valued at approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Firefly Aerospace in the second quarter valued at approximately $56,000. Sterling Capital Management LLC raised its holdings in shares of Firefly Aerospace by 848.9% in the third quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock valued at $62,000 after purchasing an additional 2,377 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Firefly Aerospace by 398.0% in the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock worth $84,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in Firefly Aerospace during the second quarter worth $103,000.
About Firefly Aerospace
Firefly Aerospace is a space and defense technology company founded in 2017 and headquartered in Cedar Park, Texas. It develops launch vehicles and spacecraft and provides launch, lunar, and in-space transportation services for government and commercial customers. Its products include the Alpha rocket, designed to carry small and medium-sized payloads to orbit, and the Blue Ghost lunar lander, which delivers payloads to the Moon. The company also develops Elytra, an orbital vehicle intended to support missions such as payload transport and in-space operations.
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