Firefly Aerospace Inc. (NASDAQ:FLY) shares are trading lower Tuesday following the company’s second-quarter report on Monday after the market closed.
What To Know: Firefly reported a loss of $5.78 per share, down from a loss of $4.60 per share year-over-year. The company reported sales of $15.54 million, down from $21.07 million year-over-year, according to Benzinga Pro.
Firefly said its total backlog grew to approximately $1.3 billion by the end of July, boosted by NASA's $176.7 million Blue Ghost Mission 4 contract. The company also noted that it raised $933.1 million in net proceeds from its August initial public offering.
The Federal Aviation Administration cleared Firefly's Alpha rocket for return to flight in August, with the company preparing for Alpha Flight 7. Firefly also highlighted continued progress on its Eclipse launch vehicle, noting 95 hot fire tests of the Miranda engine as of Sept. 22.
Northrop Grumman recently invested $50 million in preferred equity to support the Eclipse program, while additional contracts from NASA and the Department of Defense added to Firefly's growth pipeline.
Firefly Aerospace expects full-year 2025 sales to be between $133 million to $145 million.
“We’re ramping our flight cadence and have several Alpha vehicles in production to meet the strong demand for launch services, especially for responsive national security missions and our best-in-class customers,” said Jason Kim, CEO of Firefly.
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FLY Price Action: At the time of writing, Firefly shares are trading 15.97% lower at $41.61, according to data from Benzinga Pro.
Image: Courtesy of Firefly Aerospace Inc.
