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Firefly Aerospace (FLY) Financials

Firefly Aerospace logo
$40.43 -1.95 (-4.60%)
Closing price 05/15/2026 04:00 PM Eastern
Extended Trading
$40.31 -0.12 (-0.30%)
As of 05/15/2026 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Firefly Aerospace

Annual Income Statements for Firefly Aerospace

This table shows Firefly Aerospace's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -156 -266 -334
Consolidated Net Income / (Loss)		 -135 -231 -298
Net Income / (Loss) Continuing Operations		 -135 -231 -298
Total Pre-Tax Income 		-135 -231 -335
Total Operating Income		 -132 -209 -261
Total Gross Profit		 27 -11 31
Total Revenue		 55 61 160
Operating Revenue		 55 61 160
Total Cost of Revenue		 29 72 129
Operating Cost of Revenue		 29 72 129
Total Operating Expenses		 158 198 291
Selling, General & Admin Expense		 41 47 91
Research & Development Expense		 118 149 200
Other Special Charges / (Income)		 -0.00 1.74 -0.01
Total Other Income / (Expense), net		 -3.58 -22 -75
Interest Expense		 0.00 0.00 30
Interest & Investment Income		 -3.96 -20 -3.38
Other Income / (Expense), net		 0.38 -1.31 -41
Income Tax Expense		 0.00 0.00 -37
Preferred Stock Dividends Declared		 21 35 36
Basic Earnings per Share		 ($13.05) ($20.74) ($4.83)
Weighted Average Basic Shares Outstanding		 11.98M 12.82M 69.20M
Diluted Earnings per Share		 ($13.05) ($20.74) ($4.83)
Weighted Average Diluted Shares Outstanding		 11.98M 12.82M 69.20M
Weighted Average Basic & Diluted Shares Outstanding		 - - 159.95M

Quarterly Income Statements for Firefly Aerospace

This table shows Firefly Aerospace's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -59 -46 -72 -80 -140 -97
Consolidated Net Income / (Loss)		 -53 -41 -60 -64 -133 -97
Net Income / (Loss) Continuing Operations		 -53 -41 -60 -64 -133 -97
Total Pre-Tax Income 		-53 -41 -60 -64 -133 -97
Total Operating Income		 -49 -34 -59 -54 -62 -96
Total Gross Profit		 2.95 7.77 2.22 4.00 8.49 17
Total Revenue		 21 22 56 16 31 81
Operating Revenue		 21 22 56 16 31 81
Total Cost of Revenue		 18 15 54 12 22 63
Operating Cost of Revenue		 18 15 54 12 22 63
Total Operating Expenses		 52 42 61 58 71 113
Selling, General & Admin Expense		 12 10 13 13 22 46
Research & Development Expense		 40 30 48 46 49 68
Total Other Income / (Expense), net		 -4.55 -6.60 -1.55 -9.43 -71 -0.94
Interest Expense		 - 0.00 6.19 - 30 3.61
Interest & Investment Income		 -3.74 -6.66 1.03 -5.24 1.33 5.97
Other Income / (Expense), net		 -0.82 0.06 3.62 -4.19 -42 -3.31
Income Tax Expense		 0.00 0.00 0.00 0.00 0.00 0.07
Preferred Stock Dividends Declared		 5.30 5.35 12 16 6.95 0.00
Basic Earnings per Share		 ($4.60) ($3.57) ($5.38) ($5.78) ($1.50) ($0.61)
Weighted Average Basic Shares Outstanding		 12.77M 12.92M 13.44M 13.88M 93.85M 159.64M
Diluted Earnings per Share		 ($4.60) ($3.57) ($5.38) ($5.78) ($1.50) ($0.61)
Weighted Average Diluted Shares Outstanding		 12.77M 12.92M 13.44M 13.88M 93.85M 159.64M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 146.54M 159.25M 160.24M

Annual Cash Flow Statements for Firefly Aerospace

This table details how cash moves in and out of Firefly Aerospace's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 77 42 655
Net Cash From Operating Activities		 -93 -158 -205
Net Cash From Continuing Operating Activities		 -93 -158 -205
Net Income / (Loss) Continuing Operations		 -135 -231 -298
Consolidated Net Income / (Loss)		 -135 -231 -298
Depreciation Expense		 4.71 13 23
Non-Cash Adjustments To Reconcile Net Income		 -33 -15 121
Changes in Operating Assets and Liabilities, net		 70 76 -50
Net Cash From Investing Activities		 -70 -33 -402
Net Cash From Continuing Investing Activities		 -70 -33 -402
Purchase of Property, Plant & Equipment		 -77 -33 -33
Acquisitions		 7.25 0.00 -277
Sale of Property, Plant & Equipment		 0.00 0.00 0.28
Sale and/or Maturity of Investments		 0.00 0.00 8.41
Other Investing Activities, net		 0.00 0.00 -100
Net Cash From Financing Activities		 241 233 1,262
Net Cash From Continuing Financing Activities		 241 233 1,262
Repayment of Debt		 -31 -5.77 -25
Repurchase of Common Equity		 0.00 0.00 -12
Payment of Dividends		 0.00 0.00 -4.99
Issuance of Debt		 102 49 260
Issuance of Preferred Equity		 150 189 232
Issuance of Common Equity		 0.00 0.00 944
Other Financing Activities, net		 20 0.50 -132
Cash Interest Paid		 13 21 16

Quarterly Cash Flow Statements for Firefly Aerospace

This table details how cash moves in and out of Firefly Aerospace's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q4 2024 Q1 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2024 12/31/2024 3/31/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 3.11 98 55 774 -203 -467
Net Cash From Operating Activities		 -37 -40 -57 -53 -67 -63
Net Cash From Continuing Operating Activities		 -37 -40 -57 -53 -67 -63
Net Income / (Loss) Continuing Operations		 -41 -84 -60 -133 -41 -97
Consolidated Net Income / (Loss)		 -41 -84 -60 -133 -41 -97
Depreciation Expense		 3.47 6.04 4.00 5.62 9.62 16
Non-Cash Adjustments To Reconcile Net Income		 2.34 -8.36 42 74 -3.68 19
Changes in Operating Assets and Liabilities, net		 -1.60 46 -42 0.50 -32 -0.66
Net Cash From Investing Activities		 -8.21 -2.66 -2.65 -8.92 -381 -141
Net Cash From Continuing Investing Activities		 -8.21 -2.66 -2.65 -8.92 -381 -141
Purchase of Property, Plant & Equipment		 -8.21 -2.66 -2.65 -8.92 -12 -16
Acquisitions		 - - 0.00 - - 0.00
Sale of Property, Plant & Equipment		 - - 0.00 - - 0.00
Sale and/or Maturity of Investments		 - - 0.00 - - 0.01
Other Investing Activities, net		 - - 0.00 - - -125
Net Cash From Financing Activities		 48 141 114 836 245 -263
Net Cash From Continuing Financing Activities		 48 141 114 836 245 -263
Repayment of Debt		 -1.39 -1.50 0.36 -151 129 -260
Payment of Dividends		 - - 0.00 - - 0.00
Issuance of Debt		 24 - 0.47 - 260 0.00
Issuance of Preferred Equity		 - 167 115 51 -3.51 0.00
Issuance of Common Equity		 - - 0.00 - -0.03 0.00
Other Financing Activities, net		 25 -24 -2.22 1.36 -133 -2.93
Cash Interest Paid		 6.16 4.30 5.57 3.34 2.04 4.18

Annual Balance Sheets for Firefly Aerospace

This table presents Firefly Aerospace's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2025
Period end date 12/31/2024 12/31/2025
Total Assets		 407 1,825
Total Current Assets		 181 963
Cash & Equivalents		 123 793
Restricted Cash		 0.42 0.00
Short-Term Investments		 0.00 100
Accounts Receivable		 1.00 46
Prepaid Expenses		 52 12
Other Current Assets		 3.45 12
Plant, Property, & Equipment, net		 136 164
Total Noncurrent Assets		 91 698
Noncurrent Note & Lease Receivables		 3.71 3.74
Goodwill		 17 450
Intangible Assets		 0.00 166
Other Noncurrent Operating Assets		 70 78
Total Liabilities & Shareholders' Equity		 407 1,825
Total Liabilities		 415 635
Total Current Liabilities		 179 214
Short-Term Debt		 6.35 7.10
Accounts Payable		 38 36
Accrued Expenses		 14 43
Current Deferred Revenue		 108 116
Other Current Liabilities		 13 12
Total Noncurrent Liabilities		 236 421
Long-Term Debt		 124 281
Noncurrent Deferred Revenue		 46 93
Other Noncurrent Operating Liabilities		 66 47
Commitments & Contingencies		 0.00 0.00
Redeemable Noncontrolling Interest		 760 0.00
Total Equity & Noncontrolling Interests		 -768 1,190
Total Preferred & Common Equity		 -768 1,190
Total Common Equity		 -768 1,190
Common Stock		 0.00 2,210
Retained Earnings		 -768 -1,020

Quarterly Balance Sheets for Firefly Aerospace

This table presents Firefly Aerospace's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2025 9/30/2025 3/31/2026
Total Assets		 467 1,256 1,492
Total Current Assets		 234 1,023 674
Cash & Equivalents		 205 995 326
Restricted Cash		 0.83 0.83 0.00
Short-Term Investments		 - - 225
Accounts Receivable		 5.64 5.13 45
Prepaid Expenses		 14 14 62
Other Current Assets		 8.73 7.43 15
Plant, Property, & Equipment, net		 139 143 169
Total Noncurrent Assets		 94 91 650
Noncurrent Note & Lease Receivables		 4.59 4.14 3.33
Goodwill		 17 17 453
Intangible Assets		 - - 160
Other Noncurrent Operating Assets		 72 70 33
Total Liabilities & Shareholders' Equity		 467 1,256 1,492
Total Liabilities		 411 307 387
Total Current Liabilities		 147 165 266
Short-Term Debt		 6.87 6.99 7.12
Accounts Payable		 33 31 42
Accrued Expenses		 17 20 50
Current Deferred Revenue		 83 95 146
Other Current Liabilities		 7.88 11 21
Total Noncurrent Liabilities		 264 142 121
Long-Term Debt		 123 23 20
Noncurrent Deferred Revenue		 76 75 53
Other Noncurrent Operating Liabilities		 65 45 49
Commitments & Contingencies		 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 973 0.00 0.00
Total Equity & Noncontrolling Interests		 -918 949 1,105
Total Preferred & Common Equity		 -918 949 1,105
Total Common Equity		 -918 949 1,105
Common Stock		 0.00 1,928 2,222
Retained Earnings		 -918 -979 -1,117

Annual Metrics And Ratios for Firefly Aerospace

This table displays calculated financial ratios and metrics derived from Firefly Aerospace's official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 159,251,122.00
DEI Adjusted Shares Outstanding		 0.00 0.00 159,251,122.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -2.10
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 -92 -147 -182
Return On Investment Capital (ROIC_SIMPLE)		 - 23.01% -12.34%
Earnings before Interest and Taxes (EBIT)		 -131 -211 -302
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -127 -198 -279
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -145 -769
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 0.00 -1.47 586
Increase / (Decrease) in Invested Capital		 0.00 -1.47 587
Book Value per Share		 $0.00 ($59.88) $7.47
Tangible Book Value per Share		 $0.00 ($61.22) $3.61
Total Capital		 0.00 122 1,478
Total Debt		 0.00 130 289
Total Long-Term Debt		 0.00 124 281
Net Debt		 0.00 6.57 -604
Capital Expenditures (CapEx)		 77 33 33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -116 -136
Debt-free Net Working Capital (DFNWC)		 0.00 7.69 757
Net Working Capital (NWC)		 0.00 1.34 750
Net Nonoperating Expense (NNE)		 43 85 116
Net Nonoperating Obligations (NNO)		 0.00 6.57 -604
Total Depreciation and Amortization (D&A)		 4.71 13 23
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($4.83)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 69.20M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($4.83)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 69.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 159.95M
Normalized Net Operating Profit after Tax (NOPAT)		 -92 -145 -182
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Firefly Aerospace

This table displays calculated financial ratios and metrics derived from Firefly Aerospace's official financial filings.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
DEI Shares Outstanding		 - - 0.00 - - 159,952,387.00
DEI Adjusted Shares Outstanding		 - - 0.00 - - 159,952,387.00
DEI Earnings Per Adjusted Shares Outstanding		 - - 0.00 - - -0.60
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% -26.21% 37.59% 44.80%
EBITDA Growth		 0.00% 0.00% 0.00% -17.75% -222.00% -63.05%
EBIT Growth		 0.00% 0.00% 0.00% -17.75% -205.71% -80.19%
NOPAT Growth		 0.00% 0.00% 0.00% -11.15% -81.88% -63.41%
Net Income Growth		 0.00% 0.00% 0.00% -19.32% -227.07% -60.88%
EPS Growth		 0.00% 0.00% 0.00% -25.65% 57.98% 88.66%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% -45.02% -10.63%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Revenue Q/Q Growth		 0.00% 6.16% 0.00% 0.00% 97.94% 0.00%
EBITDA Q/Q Growth		 0.00% 38.33% 0.00% 0.00% -68.64% 0.00%
EBIT Q/Q Growth		 0.00% 31.34% 0.00% 0.00% -78.24% 0.00%
NOPAT Q/Q Growth		 0.00% 30.07% 0.00% 0.00% -14.43% 0.00%
Net Income Q/Q Growth		 0.00% 23.69% 0.00% 0.00% -109.18% 0.00%
EPS Q/Q Growth		 0.00% 22.39% 0.00% 0.00% 74.05% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -40.44% 0.00% 0.00% 7.01%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -50.56% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 16.84% 0.00%
Profitability Metrics		 - - - - - -
Gross Margin		 14.01% 34.74% 3.97% 25.69% 27.58% 21.59%
EBITDA Margin		 -235.94% -137.05% -91.19% -376.49% -320.76% -102.68%
Operating Margin		 -232.07% -152.86% -104.81% -349.54% -202.07% -118.29%
EBIT Margin		 -235.94% -152.58% -98.34% -376.49% -339.03% -122.38%
Profit (Net Income) Margin		 -253.68% -182.34% -107.59% -410.17% -433.47% -119.53%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.07%
Interest Burden Percent		 107.52% 119.51% 109.40% 108.95% 127.86% 97.61%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -52.78%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% -41.46%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 19.69%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% -33.09%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% -15.16%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% -14.81%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% -33.09%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -34 -24 -41 -38 -44 -67
NOPAT Margin		 -162.45% -107.00% -73.37% -244.68% -141.45% -82.80%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -67.93% -18.61% -11.32%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 4.83% -4.45% -5.92%
Cost of Revenue to Revenue		 86.00% 65.26% 96.03% 74.31% 72.42% 78.41%
SG&A Expenses to Revenue		 58.32% 46.07% 22.83% 80.85% 71.22% 56.41%
R&D to Revenue		 187.67% 133.47% 85.96% 294.39% 158.43% 83.47%
Operating Expenses to Revenue		 246.08% 187.60% 108.79% 375.23% 229.65% 139.87%
Earnings before Interest and Taxes (EBIT)		 -50 -34 -55 -59 -104 -99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -50 -31 -51 -59 -99 -83
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 2.90 4.11
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 2.95 9.25
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 24.58
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 6.93
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 21.74
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.00 2.35 0.03 0.02
Long-Term Debt to Equity		 0.00 0.00 0.00 2.23 0.02 0.02
Financial Leverage		 0.00 0.00 0.00 -1.37 -1.02 -0.48
Leverage Ratio		 0.00 0.00 0.00 8.43 1.32 1.35
Compound Leverage Factor		 0.00 0.00 0.00 9.18 1.69 1.32
Debt to Total Capital		 0.00% 0.00% 0.00% 70.18% 3.09% 2.37%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 3.70% 0.71% 0.63%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 66.49% 2.37% 1.74%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 524.10% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 0.00% 0.00% -494.28% 96.91% 97.63%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.09
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 1.69
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.06
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.13
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 2.52
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.09
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 6.23
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.00 0.00 0.00 1.59 6.20 2.53
Quick Ratio		 0.00 0.00 0.00 1.43 6.06 2.24
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 -18 -27 -647
Operating Cash Flow to CapEx		 0.00% -445.69% -2,130.26% 0.00% -594.69% -382.66%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -0.87 -179.48
Operating Cash Flow to Interest Expense		 0.00 0.00 -9.13 0.00 -1.74 -17.35
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -9.56 0.00 -2.04 -21.88
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.12
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 4.13
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 1.09
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 3.34
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 88.45
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 109.42
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 -20.98
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.00 0.00 0.00 -20 -17 580
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.64
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 -20 -17 580
Enterprise Value (EV)		 0.00 0.00 0.00 1,766 1,786 4,020
Market Capitalization		 868 868 868 868 2,752 4,545
Book Value per Share		 $0.00 $0.00 $0.00 ($66.15) $6.47 $6.91
Tangible Book Value per Share		 $0.00 $0.00 $0.00 ($67.38) $6.36 $3.07
Total Capital		 0.00 0.00 0.00 186 979 1,132
Total Debt		 0.00 0.00 0.00 130 30 27
Total Long-Term Debt		 0.00 0.00 0.00 123 23 20
Net Debt		 0.00 0.00 0.00 -76 -966 -525
Capital Expenditures (CapEx)		 0.00 8.21 2.65 0.00 8.92 16
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -113 -131 -137
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 94 865 414
Net Working Capital (NWC)		 0.00 0.00 0.00 87 858 407
Net Nonoperating Expense (NNE)		 19 17 19 26 90 30
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 -76 -966 -525
Total Depreciation and Amortization (D&A)		 0.00 3.47 4.00 0.00 5.62 16
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% -74.22%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 224.16%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 220.31%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($5.78) ($1.50) ($0.61)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 13.88M 93.85M 159.64M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($5.78) ($1.50) ($0.61)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 13.88M 93.85M 159.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 146.54M 159.25M 160.24M
Normalized Net Operating Profit after Tax (NOPAT)		 -34 -23 -41 -38 -44 -67
Normalized NOPAT Margin		 -162.39% -101.36% -73.37% -244.68% -141.45% -82.80%
Pre Tax Income Margin		 -253.68% -182.34% -107.59% -410.17% -433.47% -119.45%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.00 0.00 -8.87 0.00 -3.43 -27.46
NOPAT to Interest Expense		 0.00 0.00 -6.62 0.00 -1.43 -18.58
EBIT Less CapEx to Interest Expense		 0.00 0.00 -9.30 0.00 -3.73 -31.99
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -7.05 0.00 -1.73 -23.11
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -1.49%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -1.49%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Firefly Aerospace's recent quarterly financials. The bullets highlight potential positives, neutrals, and negatives for investors, based on the latest four quarters of data.

  • Significant financing activity in 2025 boosted liquidity: Firefly issued $260,000,000 in debt in Q3 2025 and again in Q4 2025, contributing to about $245,035,000 of net cash from continuing financing activities in those quarters.
  • Substantial cash balance growth by Q3 2025: Cash & Equivalents rose to $995,162,000, up from $205,286,000 in Q2 2025, creating a strong liquidity cushion.
  • Balance sheet equity improved to a net positive position by Q3 2025: Total Equity reached $948,821,000 vs. a negative equity position in Q2 2025, reflecting the impact of financing activity.
  • Revenue growth: Operating Revenue grew from $15.549 million in Q2 2025 to $30.778 million in Q3 2025, signaling an improving topline.
  • Gross profitability in Q3 2025: Total Gross Profit of $8.49 million on $30.78 million in revenue, indicating gross margin is positive even as net losses persist.
  • Asset base expansion supports scale: Total Assets increased to about $1,256,192,000 by Q3 2025, up from prior quarters.
  • Non-cash adjustments and depreciation: Depreciation expense in Q3 2025 was $5.623 million and non-cash adjustments to net income were $74.243 million, which affect operating income but not cash flow.
  • Expenses run high versus revenue in Q3 2025: Total Operating Expenses were $70.683 million against $30.778 million of revenue, contributing to a large operating loss.
  • Net income attributable to common shareholders remained negative in 2025: -$140.362 million in Q3 2025, though it improved to -$41.057 million in Q4 2025, leaving the company unprofitable on a per-share basis.
  • Cash from operating activities remained cash-burn: Net cash from continuing operating activities was -$53.046 million in Q3 2025 and -$67.259 million in Q4 2025, indicating ongoing operating cash burn despite revenue growth and financing support.
05/17/26 10:41 AM ETAI Generated. May Contain Errors.

Firefly Aerospace Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Firefly Aerospace's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Firefly Aerospace's net income appears to be on an upward trend, with a most recent value of -$298.34 million in 2025, rising from -$135.46 million in 2023. The previous period was -$231.13 million in 2024. See where experts think Firefly Aerospace is headed by visiting Firefly Aerospace's forecast page.

Firefly Aerospace's total operating income in 2025 was -$260.69 million, based on the following breakdown:
  • Total Gross Profit: $30.67 million
  • Total Operating Expenses: $291.35 million

Over the last 2 years, Firefly Aerospace's total revenue changed from $55.24 million in 2023 to $159.86 million in 2025, a change of 189.4%.

Firefly Aerospace's total liabilities were at $635.00 million at the end of 2025, a 52.9% increase from 2024, and a 52.9% increase since 2024.

In the past 1 years, Firefly Aerospace's cash and equivalents has ranged from $123.43 million in 2024 to $792.97 million in 2025, and is currently $792.97 million as of their latest financial filing in 2025.

Over the last 2 years, Firefly Aerospace's book value per share changed from 0.00 in 2023 to 7.47 in 2025, a change of 747.2%.


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Financial statements for NASDAQ:FLY last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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