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3w ago

Firefly Aerospace Soars in Nasdaq Debut After Record $868 Million IPO

Fueled by its first upright lunar landing, the company launched trading at a $6.32 billion valuation

A screen displays the Firefly Aerospace logo during the company's IPO at the Nasdaq MarketSite in New York City, U.S., August 7, 2025. REUTERS/Jeenah Moon
Image
A screen displays the Firefly Aerospace logo during the company's IPO at the Nasdaq MarketSite in New York City, U.S.,August 7, 2025.

Overview

  • Firefly sold 19.3 million shares at $45 each, raising $868.3 million in the largest U.S. space-tech IPO of 2025
  • Trading under the ticker FLY, the stock opened at $70, a more than 50% premium over its offering price
  • The Cedar Park, Texas firm entered its first day of trading with a $1.1 billion contract backlog encompassing over 30 planned missions
  • Despite a sixfold jump in first-quarter revenue to $55.9 million, Firefly reported net losses of $231.1 million in 2024 and $60.1 million in Q1 2025
  • Backed by AE Industrial Partners and Northrop Grumman and bolstered by NASA’s CLPS program, Firefly is advancing its Eclipse medium-lift rocket and lunar payload services