Firefly Aerospace (NASDAQ:FLY) Shares Gap Up on Better-Than-Expected Earnings

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $33.37, but opened at $38.69. Firefly Aerospace shares last traded at $31.6550, with a volume of 2,828,984 shares.

The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.The business had revenue of $80.88 million for the quarter. During the same period last year, the business earned ($5.09) earnings per share. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year.

Key Firefly Aerospace News

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

• Positive Sentiment: Q1 beat on EPS and reported record revenue: Firefly posted a smaller-than-expected loss (GAAP EPS -$0.46 vs. consensus -$0.50) and revenue of $80.9M, up ~45% year-over-year — a clear short-term fundamental catalyst supporting the rally. Firefly Aerospace Announces First-Quarter 2026 Financial Results
• Positive Sentiment: Defense program award via subsidiary (SciTec) — potential backlog upside: SciTec was selected to advance the Space Force’s Golden Dome space?based interceptor effort (a program reported at ~$3.2B), which could add multi-year defense revenue and credibility with government customers. Firefly Aerospace Subsidiary SciTec Receives Agreement
• Positive Sentiment: Operational momentum: company highlights completion of Blue Ghost milestones, a successful return-to-flight for Alpha, and a planned late?summer launch of the first Alpha Block 2 — these progress items reduce technical/program risk and support nearer-term revenue/launch cadence. Firefly plans late summer launch of first Alpha Block 2 rocket
• Neutral Sentiment: Investor materials and management color available: the earnings call transcript and slide deck were published (useful for modelers and to hear guidance/launch timing details). These give more context but may not move price materially absent new guidance. Q1 2026 Earnings Call Transcript
• Negative Sentiment: Still unprofitable with weak margins: despite progress, Firefly reported a significant negative net margin and negative return on equity; analysts still expect a loss for the fiscal year — these financial realities keep valuation and downside risk elevated if execution slips. Firefly Aerospace Reports Q1 Loss, Tops Revenue Estimates

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FLY shares. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. Cantor Fitzgerald decreased their price objective on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Firefly Aerospace in a report on Tuesday. Wall Street Zen raised Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a report on Thursday, March 12th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Insiders Place Their Bets

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of Firefly Aerospace 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 transaction, the general counsel owned 142,758 shares in the company, valued at approximately $6,429,820.32. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. WCM Investment Management LLC bought a new position in shares of Firefly Aerospace in the third quarter valued at approximately $19,386,000. TD Asset Management Inc bought a new position in shares of Firefly Aerospace in the third quarter valued at approximately $4,353,000. Liontrust Investment Partners LLP bought a new position in shares of Firefly Aerospace in the third quarter valued at approximately $1,790,000. LBP AM SA raised its stake in shares of Firefly Aerospace by 265.5% in the fourth quarter. LBP AM SA now owns 223,855 shares of the company’s stock valued at $5,008,000 after acquiring an additional 162,617 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Firefly Aerospace in the third quarter valued at approximately $50,711,000.

Firefly Aerospace Stock Down 2.6%

The business’s 50 day moving average price is $28.90 and its 200-day moving average price is $25.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.51 and a quick ratio of 4.51. The company has a market cap of $5.20 billion and a P/E ratio of -3.48.

About Firefly Aerospace

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.