Firefly Aerospace Stock Tumbles After First Earnings Report Disappoints
The newly-public company's stock fell 11.5% after revealing a wider-than-expected loss and missing revenue forecasts, raising investor concerns.
Firefly Aerospace (NASDAQ: FLY) shares plunged 11.5% after its first quarterly report as a public company failed to impress Wall Street, revealing significant losses that overshadowed its operational progress. The stock tumbled after the company announced a wider-than-expected net loss and revenue that fell short of analyst expectations, souring sentiment around the recently listed space exploration firm.
In since its August 2025 IPO, Firefly reported second-quarter revenue of $15.55 million, a 26.2% decrease year-over-year and well below the consensus estimate of approximately $17 million. The bottom line offered a starker picture, with a net loss of $80.3 million, translating to a diluted loss per share of $5.78. This figure was substantially wider than the loss of $4.60 per share in the same period last year and far exceeded the non-GAAP loss of $0.44 per share that analysts had anticipated.
The market's reaction was swift and decisive, with FLY shares falling sharply in trading and dipping below their $45 IPO price. The sell-off reflects investor anxiety about the company's financial footing, despite its promising technology and ambitious projects in the competitive aerospace sector.
Management highlighted several operational achievements, attempting to counterbalance the bleak financial results. The company noted its total backlog has grown to approximately $1.3 billion, bolstered by a significant $176.7 million NASA contract for a lunar payload delivery mission. However, the have raised questions about the company's near-term path to profitability.
While Firefly's full-year revenue guidance of $133 million to $145 million suggests a potential to meet annual expectations, investors appear focused on the current losses. The first earnings report has served as a reality check, emphasizing the immense capital requirements and uncertain timelines facing commercial space companies. For now, Wall Street is signaling that to sustain investor confidence without a clear and convincing financial trajectory.