Firefly Aerospace 2025 Q3 Earnings EPS Narrows 58% Despite Widening Net Loss

Firefly Aerospace reported Q3 2025 results with revenue beating estimates by $3.06M and guidance raised to $150–158M, despite a wider net loss. The EPS improved by 58%, signaling progress in cost management.

Revenue

Revenue surged 37.6% to $30.78M, driven by $21.35M in Spacecraft Solutions and $9.42M in Launch revenue. The Spacecraft Solutions segment led growth, reflecting strong execution on contracts, while Launch revenue remained stable.

Earnings/Net Income

Firefly narrowed its loss to $1.50 per share (58% improvement YoY) but reported a $133.41M net loss, up 227.1% from $40.79M in 2024 Q3. While EPS progress is positive, the widening net loss underscores ongoing operational challenges.

Post-Earnings Price Action Review

The stock plummeted 38.72% month-to-date despite a revenue beat. However, a strategy of buying FLY post-earnings and holding for 30 days showed bullish potential, aligning with momentum from key contracts and operational progress.

CEO Commentary

CEO Jason Kim emphasized robust Q3 performance, driven by spacecraft team execution and launch progress. He highlighted the Alpha rocket team’s readiness for resumption and the SciTec acquisition’s role in enhancing national security capabilities.

Guidance

Firefly raised 2025 full-year revenue guidance to $150–158M, citing strong Q3 performance and contract execution. Alpha Flight 7’s launch is targeted for late Q4 2025–early Q1 2026, pending regulatory approvals.

Additional News

Firefly secured a $176.7M NASA contract for lunar payload delivery (Blue Ghost Mission 4) and a $10M addendum for expanded lunar data collection. The company acquired SciTec for $855M to boost national security capabilities, supported by a $260M credit facility. Legal challenges persist, with multiple class-action lawsuits alleging misleading IPO disclosures.