Firefly Aerospace (NASDAQ:FLY) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Firefly Aerospace (NASDAQ:FLY) announced its quarterly earnings results on Thursday. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.10, Briefing.com reports. The business had revenue of $57.67 million during the quarter. The firm’s revenue for the quarter was up 541.1% on a year-over-year basis.

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 opened at $22.91 on Friday. The firm has a 50 day moving average price of $24.11 and a 200-day moving average price of $26.49. The firm has a market capitalization of $3.65 billion and a price-to-earnings ratio of -3.15. Firefly Aerospace has a 52-week low of $16.00 and a 52-week high of $73.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20.

Analyst Upgrades and Downgrades

Several research analysts have commented on FLY shares. KeyCorp began coverage on shares of Firefly Aerospace in a report on Thursday, December 18th. They issued a “sector weight” rating for the company. The Goldman Sachs Group boosted their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. decreased their price target 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. Roth Mkm restated a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. Finally, UBS Group set a $33.00 target price on Firefly Aerospace in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.88.

More Firefly Aerospace News

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

• Positive Sentiment: Company set a 2026 revenue target of $420M–$450M as it scales lunar and defense programs — guidance supports faster top-line growth expectations for 2026. Firefly Aerospace outlines $420M–$450M 2026 revenue target as company scales lunar and defense programs
• Positive Sentiment: Q4 beat: GAAP EPS of ($0.26) beat consensus ($0.48) and revenue of $57.7M (quarterly rev +541% YoY); company reported record full?year revenue up 163% — drove strong market reaction. Firefly Aerospace Announces Fourth Quarter and Full Year 2025 Financial Results
• Positive Sentiment: Alpha rocket returned to flight in March and Firefly announced new national?security SciTec contracts — operational momentum and defense revenue visibility reduce execution risk for investors. Firefly Aerospace Announces Fourth Quarter and Full Year 2025 Financial Results
• Positive Sentiment: Brand and credibility boost as the company’s Blue Ghost lunar lander won the 2025 Collier Trophy — positive PR could help win future commercial and government payloads. Firefly Aerospace’s Blue Ghost Mission 1 wins 2025 Collier Trophy
• Neutral Sentiment: Full Q4 earnings call transcript and slide deck are available for details on backlog, margins and FY26 assumptions — useful for investors doing deeper diligence. Firefly Aerospace Inc. (FLY) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Industry coverage lists multiple lunar landers targeting 2026 (including Blue Ghost) — broader sector activity is supportive but competitive. 4 US lunar landers target moon in 2026. Here’s a look at missions
• Negative Sentiment: Company remains unprofitable (negative EPS) and carries a negative P/E; the stock also sits below its 50? and 200?day moving averages — continued losses and technical resistance are potential headwinds. Firefly Aerospace quarterly earnings summary

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AE Industrial Partners LP purchased a new position in Firefly Aerospace in the 3rd quarter worth approximately $1,063,863,000. Vanguard Group Inc. bought a new stake in Firefly Aerospace during the third quarter valued at approximately $53,409,000. Hudson Bay Capital Management LP bought a new stake in Firefly Aerospace during the third quarter valued at approximately $50,711,000. UBS Group AG increased its holdings in Firefly Aerospace by 233.6% during the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock valued at $39,676,000 after buying an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors bought a new position in Firefly Aerospace in the third quarter worth approximately $35,337,000.

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.