Firefly Aerospace Inc. (FLY) Stock Analysis
Industrials · Aerospace & Defense · NasdaqGM
Firefly Aerospace Inc. (FLY) posted $159.85M in revenue for fiscal 2025 (up 163.0% year over year), with a net loss of $298.34M, and has compounded revenue about 70.1%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Firefly Aerospace Inc.
Firefly Aerospace Inc. has grown revenue from $55.23M to $159.85M over the last 3 fiscal years, compounding about 70.1% a year. The most recent year was up 163%, so growth is actually accelerating.
Net margin sits at -186.6%, up 193.6 points year over year on a 19.2% gross margin. It carries about $288.54M of total debt.
The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Firefly Aerospace Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Firefly Aerospace Inc. revenue & earnings — last 3 fiscal years
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $55.23M | $60.79M | $159.85M |
| Gross profit | $26.60M | $-11.37M | $30.67M |
| Net income | $-135.46M | $-231.13M | $-298.34M |
| Net margin | -245.2% | -380.2% | -186.6% |
Source: Firefly Aerospace Inc. SEC filings (10-K).
Firefly Aerospace Inc.: 4 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 4494.5% while revenue rose 163.0% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Share count rising (dilution)Shares outstanding grew 11.3% over 2 years (143.1M → 159.3M) — existing holders' stakes are being diluted.
- Debt with negative operating cash flowCarries $295.6M of debt while last year's operating cash flow was negative ($-204.9M).
- Currently unprofitableThe latest fiscal year was a net loss (net margin -186.6%).
Explore 3 years of Firefly Aerospace Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track FLY in your portfolio →
Firefly Aerospace Inc. financial history by metric
Compare Firefly Aerospace Inc. with peers
About Firefly Aerospace Inc.
Firefly Aerospace Inc. operates as a space and defense technology company and provides mission solutions for national security, government, and commercial customers in United States. The company offers integrated launch and space services technology that is committed to enabling launch, transit, and operations in space. It also provides Launch solutions, such as Alpha, a responsive launch services; and Eclipse, a medium-lift launch vehicles. In addition, the company offers spacecraft solutions platforms, including Blue Ghost, a lunar delivery and operation service; and Elytra, which provides space maneuverability and servicing. Further, it provides software and sensor solutions; national security software and big data processing capabilities; and responsive space services, as well as Ocula, a lunar imaging service. Firefly Aerospace Inc. was incorporated in 2017 and is headquartered in Leander, Texas.
Firefly Aerospace Inc. — frequently asked questions
What is Firefly Aerospace Inc.'s revenue?
Firefly Aerospace Inc. (FLY) reported revenue of $159.85M for fiscal year 2025, up 163.0% from the prior year, according to its SEC filings.
Is Firefly Aerospace Inc. profitable?
No — FLY reported a net loss of $-298.34M in fiscal 2025.
What is FLY's P/E ratio?
Firefly Aerospace Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Firefly Aerospace Inc. growing?
FLY's revenue grew at roughly 70.1% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Firefly Aerospace Inc. have?
As of fiscal year 2025, FLY carried roughly $288.54M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Firefly Aerospace Inc.'s gross margin?
FLY's gross margin was 19.2% in fiscal 2025 — gross profit of $30.67M on revenue of $159.85M.
What is Firefly Aerospace Inc.'s market cap?
Firefly Aerospace Inc. (FLY) has a market capitalization of about $6.12B, based on the latest data in our nightly-refreshed cache.
When does Firefly Aerospace Inc.'s fiscal year end?
FLY's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Firefly Aerospace Inc.'s official SEC filings (10-K and 10-Q), covering 3 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.