Firefly Aerospace (NASDAQ:FLY) Releases Earnings Results, Beats Expectations By $0.04 EPS

Firefly Aerospace (NASDAQ:FLY) announced its quarterly earnings data on Monday. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04, FiscalAI reports. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The business had revenue of $80.88 million during the quarter. During the same period in the prior year, the company earned ($5.09) EPS. Firefly Aerospace’s quarterly revenue was up 44.8% on a year-over-year basis.

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

• Firefly reported a record quarter with $80.9 million in Q1 revenue and reiterated full-year 2026 guidance of $420–$450 million, driven by spacecraft solutions and launch activity.
• NASA’s accelerated Moon Base plans materially increase demand for lunar services; Firefly expanded its clean room 4x to scale Blue Ghost production and is preparing Blue Ghost Mission 2 (“Riders to the Dark”) and additional follow-on missions.
• Subsidiary SciTec won a position on the Space-Based Interceptor/Golden Dome program, leverages the operational FORGE AI system, and secured a $109 million engineering change award, strengthening Firefly’s defense revenue pipeline.
• Launch and vehicle progress continues — Alpha returned to flight on Flight 7, Block II is in qualification with Flight 8 targeted for late summer and three more Alpha launches planned in 2026, while Eclipse development hit key structure and tank test milestones.
• Despite top-line gains, GAAP net loss widened to $96.7 million (non‑GAAP loss $74 million), operating expenses increased and backlog remained roughly flat at about $1.3 billion, indicating continued near-term cash burn despite $811.6 million of liquidity.

Firefly Aerospace Trading Down 1.3%

Shares of NASDAQ:FLY opened at $33.37 on Tuesday. The company has a 50 day moving average of $28.90 and a 200-day moving average of $25.46. The firm has a market cap of $5.34 billion and a P/E ratio of -3.63. Firefly Aerospace has a twelve month low of $16.00 and a twelve month high of $73.80. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.24.

Analyst Ratings Changes

FLY has been the subject of several recent analyst reports. Roth Mkm upped their target price on shares of Firefly Aerospace from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Morgan Stanley restated a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. Cantor Fitzgerald decreased their target price on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, March 26th. Weiss Ratings cut shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Key Headlines Impacting Firefly Aerospace

Here are the key news stories impacting Firefly Aerospace this week:

• Positive Sentiment: Subsidiary SciTec was selected to support the Space Force’s Golden Dome space‑based interceptor program (a program valued at ~$3.2B), a potential long‑term revenue/contract pipeline boost. Firefly Aerospace Subsidiary SciTec Receives Agreement
• Positive Sentiment: Q1 results showed record revenue of $80.9M (up ~45% YoY) and an EPS loss of $0.46 that beat estimates, signaling improving revenue traction versus prior periods. Management highlighted completed milestones (Blue Ghost), Alpha’s return to flight, and selection for defense work in its release. Q1 Financial Results
• Positive Sentiment: Company and press coverage emphasize operational momentum — Firefly plans a late‑summer launch of its first Alpha Block 2 vehicle, supporting the narrative of increasing launch cadence and product progress. Firefly plans late summer launch
• Neutral Sentiment: Investors have access to the full Q1 earnings / call materials and transcript for more detail on guidance, margins and launch schedule; these may be parsed for near‑term cadence and cash needs. Earnings Call Transcript
• Negative Sentiment: Profitability remains a clear risk: FLY still posts large negative net margins and ROE, and analysts expect a negative full‑year EPS (~-1.8). Continued operating losses and the need to fund growth can pressure the stock despite revenue gains. Q1 Loss, Revenue Beat (Zacks)

Insider Buying and Selling at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.04, for a total value of $169,620.64. Following the completion of the sale, the general counsel directly owned 142,758 shares of the company’s stock, valued at approximately $6,429,820.32. This represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Firefly Aerospace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in Firefly Aerospace during the third quarter valued at approximately $26,000. CIBC Private Wealth Group LLC acquired a new stake in Firefly Aerospace during the third quarter valued at approximately $26,000. California State Teachers Retirement System acquired a new stake in Firefly Aerospace during the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. acquired a new stake in Firefly Aerospace during the fourth quarter valued at approximately $38,000. Finally, NBC Securities Inc. acquired a new stake in Firefly Aerospace during the fourth quarter valued at approximately $38,000.

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.