Firefly Aerospace Shares Soar 15% After Strong Q3 Revenue Growth and Upgraded Outlook

Firefly Aerospace’s stock jumped 15% on Wednesday after the company delivered stronger-than-expected third-quarter results and upgraded its full-year revenue outlook. The space technology company reported Q3 revenue of $30.8 million, up from $22.4 million a year earlier, marking a 38% increase and nearly double the revenue of the previous quarter.

The company posted a net loss of $140.4 million, or $1.50 per share, which included costs related to its IPO, foreign exchange impacts, and executive severance packages. Despite the loss, Firefly raised its full-year revenue guidance to a range of $150 million to $158 million, up from the previous forecast of $133 million to $145 million.

This marks Firefly’s second quarterly report as a public company. Shares fell sharply after its debut quarter, when results came in below expectations. Since going public on Nasdaq in August, Firefly’s stock has shed 70% of its value, dropping its market capitalization from $8.5 billion to about $2.7 billion as of Wednesday.

Firefly has faced operational hurdles, including a rocket explosion during a ground test in September at its Texas facility. The incident occurred shortly after the Federal Aviation Administration cleared the company following a separate issue. Firefly said on Wednesday that it has implemented “corrective measures,” but shares remain down 35% in September and 24% so far this month.

Despite these setbacks, Firefly has gained traction with key government partnerships. In July, it secured a $177 million NASA contract for an upcoming moon mission. In October, the company also acquired defense technology firm SciTec, strengthening its national security offerings.

With revenue accelerating and its guidance raised, Firefly aims to regain investor confidence as enthusiasm for commercial space technology continues to grow.