Firefly Aerospace Inc. (FLY) stock — is it a good business?

Firefly Aerospace Inc. (FLY) stock — is it a good business? — InspectStocks

How it makes money

Spacecraft Solutions84%
Launch16%

Shares of revenue are estimates for quarter ended March 31, 2026, not figures from a filing.

Competes with

What it sells6

Alpha
A rocket that carries satellites and other customer payloads into orbit, including on short-notice missions.
Eclipse
A larger rocket in development to carry heavier payloads into orbit; its first stage is designed to be reused.
Blue Ghost
A lunar lander that carries customer and government equipment to the Moon’s surface.

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Elytra
A maneuverable spacecraft that carries payloads, moves between orbits and can relay communications or support military space missions.
SciTec defense software and data processing
Software and computing services that analyze large volumes of sensor data for missile warning, intelligence and other defense missions.
Space-ng navigation systems
Artificial-intelligence-powered vision and guidance systems that help spacecraft determine where they are and navigate autonomously.

Who buys it6

NASA buys lunar payload delivery and launch services through mission contracts and task orders.
U.S. Space Force buys responsive launches and missile-warning software through defense contracts.
The National Reconnaissance Office buys launch and in-space services for government missions.

Show 3 more

The Space Development Agency buys spacecraft and related mission services for military satellite programs.
Aerospace and defense companies, including Lockheed Martin, Northrop Grumman and L3Harris, buy launches and space mission services under multi-mission agreements and contracts.
Commercial satellite and space companies buy launch, lunar delivery and spacecraft services through dedicated missions or shared payload flights.

What it stands on, and what could break it

What the business leans on

1A substantial share of revenue and contract backlog comes from a small number of customers.
2Many contracts depend on U.S. government budgets, contract awards, security clearances and procurement rules.
3Some key components and services come from single or limited-source suppliers, which can delay manufacturing if they are unavailable.
4Lunar and other spacecraft missions can depend on third-party rockets for launch; Blue Ghost Mission 1 flew on a SpaceX Falcon 9.

What could go wrong

1A launch failure, spacecraft malfunction or launch delay can destroy customer payloads, postpone missions and interrupt revenue; an Alpha launch anomaly in 2025 led to a temporary pause while an investigation was completed.
2Cuts, delays or changing priorities in U.S. government budgets and contracts could reduce or postpone work, particularly because revenue and backlog rely on a small group of customers.
3Firefly must increase production and launch frequency while completing Eclipse and expanding launch sites; manufacturing bottlenecks, unavailable components or development delays could prevent it from meeting customer schedules.

Full financial statements →

About Firefly Aerospace Inc.

Firefly’s Blue Ghost lander takes customer equipment to the Moon, while its Elytra spacecraft carry payloads, relay communications and maneuver in space around Earth. Its Alpha rocket launches satellites, and the larger Eclipse rocket is in development. Firefly also sells software that processes sensor data for missile warning, intelligence and other defense work.

Head office: Cedar Park, Texas
Founded: 2017 (operations began, high confidence)
Employees: 1,418 (December 31, 2025, high)
Listed on: NASDAQ
Financial year ends: December 31

Built from Firefly Aerospace Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Keep exploring

The themes Firefly Aerospace is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Aerospace and Defense

Graded A or B and worth $2B or more: A first, then the largest.

Grade rose recently in Industrials

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

How it makes money

Spacecraft Solutions84%
Launch16%

Shares of revenue are estimates for quarter ended March 31, 2026, not figures from a filing.

Competes with

What it sells6

Alpha
A rocket that carries satellites and other customer payloads into orbit, including on short-notice missions.
Eclipse
A larger rocket in development to carry heavier payloads into orbit; its first stage is designed to be reused.
Blue Ghost
A lunar lander that carries customer and government equipment to the Moon’s surface.

Show 3 more

Elytra
A maneuverable spacecraft that carries payloads, moves between orbits and can relay communications or support military space missions.
SciTec defense software and data processing
Software and computing services that analyze large volumes of sensor data for missile warning, intelligence and other defense missions.
Space-ng navigation systems
Artificial-intelligence-powered vision and guidance systems that help spacecraft determine where they are and navigate autonomously.

Who buys it6

NASA buys lunar payload delivery and launch services through mission contracts and task orders.
U.S. Space Force buys responsive launches and missile-warning software through defense contracts.
The National Reconnaissance Office buys launch and in-space services for government missions.

Show 3 more

The Space Development Agency buys spacecraft and related mission services for military satellite programs.
Aerospace and defense companies, including Lockheed Martin, Northrop Grumman and L3Harris, buy launches and space mission services under multi-mission agreements and contracts.
Commercial satellite and space companies buy launch, lunar delivery and spacecraft services through dedicated missions or shared payload flights.

What it stands on, and what could break it

What the business leans on

1A substantial share of revenue and contract backlog comes from a small number of customers.
2Many contracts depend on U.S. government budgets, contract awards, security clearances and procurement rules.
3Some key components and services come from single or limited-source suppliers, which can delay manufacturing if they are unavailable.
4Lunar and other spacecraft missions can depend on third-party rockets for launch; Blue Ghost Mission 1 flew on a SpaceX Falcon 9.

What could go wrong

1A launch failure, spacecraft malfunction or launch delay can destroy customer payloads, postpone missions and interrupt revenue; an Alpha launch anomaly in 2025 led to a temporary pause while an investigation was completed.
2Cuts, delays or changing priorities in U.S. government budgets and contracts could reduce or postpone work, particularly because revenue and backlog rely on a small group of customers.
3Firefly must increase production and launch frequency while completing Eclipse and expanding launch sites; manufacturing bottlenecks, unavailable components or development delays could prevent it from meeting customer schedules.

Full financial statements →

About Firefly Aerospace Inc.

Head office: Cedar Park, Texas
Founded: 2017 (operations began, high confidence)
Employees: 1,418 (December 31, 2025, high)
Listed on: NASDAQ
Financial year ends: December 31

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Firefly Aerospace Inc.

Keep exploring

The theme it is part of

Highest-graded in Aerospace and Defense

Grade rose recently in Industrials

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Firefly Aerospace Inc.

Firefly Aerospace Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Aerospace and Defense

Grade rose recently in Industrials

Space

Growth & cash — 2 of 5

Business trend

Share price and grade over time

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Firefly Aerospace Inc.

Keep exploring

The theme it is part of

Highest-graded in Aerospace and Defense

Grade rose recently in Industrials

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Firefly Aerospace Inc.

Firefly Aerospace Inc.

Past performance

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Aerospace and Defense

Grade rose recently in Industrials

Space

Growth & cash — 2 of 5

Business trend

Share price and grade over time