Firefly Aerospace (NASDAQ:FLY) Issues Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Firefly Aerospace (NASDAQ:FLY) issued its quarterly 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 firm had revenue of $110.68 million during the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%. The company’s revenue for the quarter was up 259.4% on a year-over-year basis. During the same period last year, the firm earned ($0.33) EPS.

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 Price Performance

Shares of FLY stock traded up $2.26 on Wednesday, reaching $25.96. The company’s stock had a trading volume of 2,282,555 shares, compared to its average volume of 4,867,641. The stock’s fifty day simple moving average is $20.43 and its 200-day simple moving average is $26.77. Firefly Aerospace has a 1 year low of $14.44 and a 1 year high of $62.17. 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 -8.86 and a beta of 0.84.

Hedge Funds Weigh In On Firefly Aerospace

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Firefly Aerospace in the 2nd quarter worth approximately $173,573,000. Tema ETFs LLC lifted its position in Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock worth $67,057,000 after acquiring an additional 2,279,159 shares during the period. Tidal Investments LLC purchased a new stake in Firefly Aerospace in the second quarter valued at approximately $63,714,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Firefly Aerospace in the third quarter worth $23,354,000. Finally, Van ECK Associates Corp raised its stake in shares of Firefly Aerospace by 43.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock valued at $89,621,000 after buying an additional 927,804 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on FLY shares. B. Riley Financial raised their target price on Firefly Aerospace from $40.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Tuesday, September 22nd. Barclays lifted their price objective on Firefly Aerospace from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company initiated coverage on Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Top Firefly Aerospace Stories

Here are a few of the latest stories about FLY:

• Positive Sentiment: Japanese satellite operator Synspective agreed to buy up to 10 Alpha rocket launches through 2030, potentially putting as many as 20 of its radar satellites into orbit. The agreement adds long-term commercial demand, though the launches are spread over several years and are not necessarily all guaranteed. Firefly Aerospace Signs Multi-Launch Agreement with Synspective
• Positive Sentiment: Third-quarter revenue rose 259.4% year over year to $110.68 million, and the $0.45-per-share loss was narrower than analysts expected. Firefly also reported a record $1.7 billion backlog, supporting its growth outlook. Firefly Aerospace Announces Third Quarter 2026 Financial Results
• Negative Sentiment: Despite beating estimates, Firefly’s quarterly loss widened from $0.33 per share a year earlier to $0.45. Its substantial negative net margin underscores that rapid revenue growth has not yet translated into profitability. Firefly Aerospace Narrows 3Q Loss as Revenue Takes Off

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.