Firefly Aerospace Stock Tumbles Back to Earth. Why Earnings Were Disappointing.
Sep 23, 2025 07:16:00 -0400 by George Glover | #Aerospace and Defense #Earnings Report
Firefly Rocket Ranch in Briggs, Texas (Courtesy Firefly Aerospace)
Key Points
About This Summary
- Firefly Aerospace falls after its second-quarter loss widens from the previous year.
- The company reports an adjusted second-quarter loss of $5.78 per share, with revenue decreasing 36% to $15.5 million.
- An analyst notes that the rocket developers’ costs fluctuate, but highlighted strong demand for Firefly’s launch vehicles.
Firefly Aerospace stock was tumbling Tuesday after the rocket developer’s second-quarter loss widened from a year earlier.
Shares slumped 12% to $43.60. The S&P 500 was up slightly.
The selloff meant Firefly was on pace to wipe out all of its gains from Monday, when the stock rallied 9.6% after the company said it had landed a $10 million contract addendum from NASA.
After Monday’s close, Firefly reported an adjusted second-quarter loss of $5.78 a share, as revenue slumped 36% from a year ago to $15.5 million. A year earlier, Firefly reported a loss of $4.60 a share on revenue of $21.1 million.
Created with Highcharts 9.0.1Firefly Aerospace stockSource: FactSet
Created with Highcharts 9.0.1Aug. 8Sept.40.042.545.047.550.052.555.057.560.0$62.5
It was Firefly’s first earnings report since becoming a public company last month when it opened for trading at $70 a share.
It may take a while for the company’s quarterly results to stabilize given rocket developers’ costs tend to fluctuate, said Cantor Fitzgerald analyst Colin Canfield.
“Space manufacturing and especially launch will always bring a high degree of lumpiness that makes meeting quarterly expectations difficult, although we are vigilant for how profitability drives investor sentiment,” he wrote in a research note.
Still, Canfield flagged robust demand for Firefly’s launch vehicles, particularly given that defense budgets are accelerating. He maintained his Overweight rating on shares, and a $65 price target that implies they can climb about 24% from their level as of Monday’s close.
Write to George Glover at george.glover@dowjones.com