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6h ago

Firefly Aerospace Posts Record Quarterly Revenue as Government Awards Multiply

New NASA lunar contracts, a major Space Force subcontract and a recent capital raise support Firefly’s $420M–$450M 2026 revenue target.

The orbital spacecraft Elytra is seen in a clean room at Firefly Aerospace in Cedar Park on April 16, 2025.  
Launch and spacecraft vehicles in assembly at the Rocket Ranch, which supports ramped up capacity of carbon composite tanks and structures

Overview

  • Firefly reported record second-quarter revenue of about $117.7 million while posting a net loss of $92.3 million.
  • The company announced multiple NASA awards including a $144 million CLPS Blue Ghost contract plus JPL subcontracts tied to MoonFall and SkyFall work.
  • SciTec, Firefly’s defense unit, won roughly $94 million to modernize ground-based Space Force radars and secured additional Air Force work.
  • Firefly raised about $181.6 million in net proceeds from an underwritten offering and extended a Lockheed Martin multi-launch agreement through 2031.
  • The company is scaling Cedar Park manufacturing, acquiring Space-ng and partnering with NVIDIA to add autonomy and fast lunar imaging, but execution and sustained profitability remain the main near-term risks to watch.