Firefly Aerospace files for IPO, plans to list on Nasdaq under ticker “FLY” following revenue growth and its successful 2025 lunar mission.
After the market collapsed in 2022, the escalating inflation and rising interest rates discouraged investors from investing in riskier assets. Consequently, Firefly’s anticipated offering coincides with a period of resurgence for IPOs.
As a result of President Donald Trump’s tariff proposals, specific organizations, such as Klarna and ticket reseller StubHub, postponed their public offerings earlier this year.
However, venture capitalists are gaining confidence in the wake of a robust June for deal activity, which resulted in a significant transaction between Meta Platforms and Scale AI and a surge in revenue for crypto company Circle. Additionally, Figma submitted its prospectus earlier this month.
Firefly, a Texas-based space transportation corporation, is renowned for its satellite-launching Alpha rockets and its lunar landers, space tugs, and rockets. Blue Ghost, Firefly’s lunar spacecraft, successfully landed on the moon earlier this year.
The company reported that its revenue increased by over sixfold to approximately $55.9 million at the end of March, compared to $8.3 million a year prior.
Additionally, the organization disclosed a net loss of roughly $60.1 million, representing an increase from $52.8 million in the previous year. Firefly reported that its backlog amounted to approximately $1.1 billion.
Goldman Sachs, JPMorgan, Jefferies, and Wells Fargo are the lead underwriters on the transaction.