Firefly Aerospace Inc (NASDAQ:FLY) Tops Q3 Revenue Estimates, Shares Surge

Firefly Aerospace Inc (NASDAQ:FLY) reported its third-quarter financial results, delivering a performance that notably surpassed analyst expectations on the top line. The company's latest earnings reveal a period of significant revenue growth alongside continued substantial investments in its future operational capacity.

Financial Performance Versus Estimates

Firefly's third-quarter revenue reached $30.8 million, representing a substantial increase over both the previous quarter and the same period last year. This figure comfortably exceeded the analyst consensus estimate of $28 million. The company's revenue performance demonstrates accelerating commercial traction across its space and defense technology offerings.

On the profitability front, Firefly reported a non-GAAP loss per share of $0.33. While this represents a significant loss, it notably outperformed the analyst expectation of a $0.41 per share loss. The better-than-expected EPS performance suggests the company is managing its operational costs more effectively than anticipated despite ongoing heavy investment in research and development.

Key financial metrics from the quarter include:

• Revenue: $30.8 million (actual) versus $28.0 million (estimate)
• Non-GAAP EPS: -$0.33 (actual) versus -$0.41 (estimate)
• Quarter-over-quarter revenue growth: 98%
• Year-over-year revenue growth: 38%

Market Reaction and Price Action

Following the earnings release, Firefly shares experienced notable after-hours movement, climbing approximately 14.6%. This positive market response reflects investor approval of the company's revenue beat and improved earnings performance relative to expectations. The reaction is particularly significant given the stock's recent struggles, having declined roughly 38% over the past month leading up to the earnings announcement.

Operational Highlights and Strategic Developments

Beyond the financial figures, Firefly's quarterly update highlighted several important operational milestones. The company is progressing toward returning its Alpha rocket to flight, targeting a launch window between late fourth quarter 2025 and early first quarter 2026. This follows a ground test event in September that required corrective measures, which the company reports have now been implemented.

The quarter also saw the completion of Firefly's strategic acquisition of SciTec, a move that bolsters its national security capabilities and positions the company to compete for programs within the substantial Golden Dome initiative. Additionally, Firefly secured multiple significant contract awards during the period:

• A $176.7 million NASA contract for Blue Ghost Mission 4 lunar payload delivery
• A $10 million addendum to the Blue Ghost Mission 1 contract with NASA
• An Elytra study contract from NASA for multi-spacecraft delivery capabilities
• A hypersonic test mission agreement with a confidential customer

Forward Guidance and Analyst Expectations

Looking ahead, Firefly provided full-year 2025 revenue guidance ranging between $150 million and $158 million. This projection aligns generally with analyst sales estimates of $136.8 million for the full year, suggesting management confidence in maintaining current growth trajectories.

For the upcoming fourth quarter, analysts project sales of approximately $36.4 million. The company's ability to meet or exceed this target will be closely watched as investors assess whether the strong third-quarter performance represents a sustainable trend rather than isolated strength.

The company's substantial cash position of $995 million provides significant runway to continue executing its strategic initiatives, including the ramp-up of launch operations and further development of its spacecraft solutions.

For detailed historical earnings data and future estimates, review Firefly's complete earnings profile.

Disclaimer: This article provides financial analysis for informational purposes only and does not constitute investment advice, recommendation, or endorsement of any security. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.