Firefly Aerospace, Inc. (FLY)
NASDAQ:FLY
Earnings Data
Report Date
Sep 28, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
-5.78Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive strategic and operational outlook: Firefly reported transformative revenue growth (+163% YoY), a large and growing backlog (~$1.4B), successful operational milestones (Alpha Flight 7, commercial moon landing), and the strategic SciTec acquisition with operational FORGE capability and meaningful contract expansions. These positives were tempered by sizable operating losses, negative free cash flow, increased operating expenses tied to the acquisition and public-company status, and multi-year timelines for some vehicle programs (notably Eclipse). Management highlighted strong liquidity (~$893M), aggressive 2026 revenue guidance (~$420–450M, midpoint up ~172% YoY) with ~80% booked, and clear plans for scaling launches and spacecraft production, suggesting that the company is in a heavy-investment growth phase where near-term losses are expected while execution risk remains on multi-year programs.Company Guidance
Record Annual Revenue and Strong Growth
Reported record 2025 annual revenue of $159.9M (~$160M), a 163% year-over-year increase, driven by expanded spacecraft solutions (including SciTec) and an active launch cadence.
Highest Quarterly Revenue on Record
Fourth quarter revenue of $57.7M was the highest quarterly revenue in company history (Q3: $30.8M; Q4 2024: $9.0M). Spacecraft Solutions accounted for $50.0M and Launch revenue was $7.7M.
Large and Growing Backlog
Total backlog of approximately $1.4B at quarter end, up from $1.3B in Q3 and up 22% year-over-year (from ~$1.1B), providing visibility into near-term revenue.
Ambitious 2026 Revenue Guidance
Company guided 2026 revenue of $420M–$450M (midpoint $435M), implying ~172% year-over-year growth at the midpoint; management noted ~80% of the midpoint is already booked.
Successful Operational Milestones — Alpha Flight 7
Alpha Flight 7 successfully launched to orbit (including a second-stage relight), completed mission objectives (payload deployment), validated subsystems for Alpha Block 2 and strengthened operational reliability and cadence readiness.
Blue Ghost Moon Program Momentum
First commercial moon landing (Blue Ghost Mission 1) achieved; structural qualification testing for Blue Ghost Mission 2 and Elytra completed at JPL; BGM3 passed PDR and BGM4 passed SRR with long-lead items ordered — supporting continued lunar mission cadence.
SciTec Acquisition and FORGE Operational Acceptance
Closed strategic SciTec acquisition (cash component ~$277.4M net of cash acquired). SciTec's FORGE was operationally accepted by the U.S. Space Force (Sept 2025) and processed >1,000 threat events in early Iran conflict; SciTec won a $109M ECP increasing FORGE-related contract value from $263M to $372M.
Robust Liquidity Position
Ended Q4 with cash, cash equivalents and short-term investments of $893M (includes $260M drawn on revolving credit facility), providing runway to fund growth and integration investments.
Launch and Vehicle Development Progress
Progress on Alpha Block 2 (qualified second-stage LOX tank; production underway for Flights 8–10), Eclipse major flight articles in build, Miranda engine >100 hot fires, interstage and LOX transfer line qualification, and target of four Alpha launches in 2026.
Strategic Industry Recognition and IPO
Blue Ghost Mission 1 received major awards (Robert J. Collier Trophy, Jackson Aerospace Memorial, TIME's Best Inventions of 2025). Completed a historic IPO that strengthened the balance sheet and supported the SciTec acquisition.
FLY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FLY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 19, 2026 | $22.96 | $23.22 | +1.13% |
Nov 12, 2025 | $18.31 | $21.42 | +16.99% |
Sep 23, 2025 | $41.94 | $40.56 | -3.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Firefly Aerospace, Inc. (FLY) report earnings?
Firefly Aerospace, Inc. (FLY) is schdueled to report earning on Sep 28, 2026, After Close (Confirmed).
What is Firefly Aerospace, Inc. (FLY) earnings time?
Firefly Aerospace, Inc. (FLY) earnings time is at Sep 28, 2026, After Close (Confirmed).
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What is FLY EPS forecast?
Currently, no data Available
