Firefly Aerospace (NASDAQ:FLY) Posts Earnings Results

Firefly Aerospace (NASDAQ:FLY) issued its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $57.67 million for the quarter.

Here are the key takeaways from Firefly Aerospace’s conference call:

• Record 2025 performance — Firefly more than doubled annual revenue to $159.9 million, reported the company’s highest quarterly revenue of $57.7 million, exited Q4 with a ~$1.4 billion backlog and ~$893 million in cash and short‑term investments.
• Successful launch momentum — Alpha Flight 7 returned to orbit, validated a second‑stage relight and de‑risked avionics/batteries ahead of Alpha Block II, and the company plans four Alpha launches in 2026 with Block II debuting on Flight 8 to support national‑security and commercial missions.
• Strategic SciTec integration and defense traction — the SciTec acquisition closed, FORGE achieved operational acceptance and was used in recent missile‑warning operations, SciTec won incremental FORGE funding (adding $109M) and is positioned for large Pentagon opportunities (SHIELD/Golden Dome), creating meaningful defense revenue upside.
• Continued losses and cash burn — Q4 GAAP operating loss was $85.6 million (non‑GAAP operating loss $64.5M), Q4 free cash flow was negative $79.3 million, capex is rising and remaining SciTec acquisition payments (~$24M) plus higher near‑term cash usage pose financing and execution risks.
• Eclipse and spacecraft build progress — the medium‑lift Eclipse program has over 100 Miranda hot fires and key hardware/tests underway with first‑stage delivery to Northrop planned later this year, while a full‑variant Eclipse first launch is targeted no earlier than 2027.

Firefly Aerospace Price Performance

FLY stock traded down $0.28 during trading on Thursday, hitting $22.91. The company had a trading volume of 5,315,047 shares, compared to its average volume of 3,487,684. Firefly Aerospace has a fifty-two week low of $16.00 and a fifty-two week high of $73.80. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $24.11 and a two-hundred day moving average price of $26.49. The company has a market cap of $3.65 billion and a P/E ratio of -3.15.

Institutional Investors Weigh In On Firefly Aerospace

A number of hedge funds have recently added to or reduced their stakes in FLY. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace during the 3rd quarter worth about $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at about $26,000. California State Teachers Retirement System acquired a new stake in shares of Firefly Aerospace in the 4th quarter valued at approximately $30,000. NBC Securities Inc. acquired a new stake in Firefly Aerospace in the fourth quarter worth $38,000. Finally, Russell Investments Group Ltd. acquired a new stake in Firefly Aerospace during the 4th quarter worth $38,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on FLY. Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. The Goldman Sachs Group lifted their price target on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. KeyCorp initiated coverage on shares of Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.88.

Firefly Aerospace Company Profile

Firefly Aerospace (NASDAQ:FLY) is a U.S.-based aerospace company that designs, manufactures and operates launch vehicles and in-space systems for commercial, civil and national security customers. The company focuses on providing end-to-end small- and medium-lift launch services, mission integration and spacecraft hardware to support satellite deployment and on-orbit operations.

Firefly’s product portfolio includes the Alpha small launch vehicle, developed to carry small satellites to low Earth orbit, and plans for larger vehicles and in-space capabilities to address a range of payload sizes and mission profiles.