Firefly Aerospace Reports Record Q2 Revenue While Remaining Unprofitable

• Firefly Aerospace reported record second-quarter revenue of $117.70 million, approximately 657% higher than the $15.55 million recorded in the prior-year quarter.
• The company reported an adjusted loss of $0.42 per share, better than the consensus estimate for a $0.50 loss and substantially narrower than its adjusted loss of $5.30 per share a year earlier.
• Firefly has secured additional NASA contracts supporting lunar exploration, although investors should consider its continuing losses and pending shareholder litigation.

Firefly Aerospace (NASDAQ: FLY) is a space and defense technology company that develops launch vehicles, lunar landers, orbital spacecraft and related services for government and commercial customers.

Firefly reported record second-quarter revenue of $117.70 million, up approximately 657% from the $15.55 millionreported in the corresponding quarter of 2025. The increase represents strong top-line growth, although the comparison benefits from a relatively low prior-year revenue base and the addition of SciTec, which Firefly acquired in 2025.

The company also reported an adjusted loss of $0.42 per share, compared with the consensus estimate for an adjusted loss of $0.50 per share. That was a substantial improvement from its adjusted loss of $5.30 per share in Q2 2025. On a GAAP basis, Firefly recorded a loss of $5.78 per share in the prior-year quarter.

Separately, Cantor Fitzgerald previously lowered its Firefly price target to $35 from $65 while maintaining an Overweight rating. Based on a share price of $26.36, that target would imply potential upside of approximately 32.8%. A price target is an analyst projection rather than a guarantee of future performance.

Firefly has also expanded its contracted mission portfolio. In May, it received a $75 million NASA Jet Propulsion Laboratory subcontract to deliver four drones above the Moon’s south pole as part of the MoonFall mission. In June, NASA awarded the company a separate $144 million Commercial Lunar Payload Services contract for an accelerated Blue Ghost mission targeted for 2028.

Investors should nevertheless note that Firefly remains unprofitable. In addition, Johnson Fistel, PLLP has announced an investigation into potential shareholder claims involving certain officers and directors. This is a private law firm inquiry based on allegations in shareholder litigation; it does not constitute a regulatory determination or a finding of wrongdoing.