Firefly Aerospace Announces Second Quarter 2025 Financial Results
Company Increased Backlog to $1.3 Billion by End of July
Financial results for the second quarter ended June 30, 2025 have been released by Firefly Aerospace.
“We’re ramping our flight cadence and have several Alpha vehicles in production to meet the strong demand for launch services.”
Jason Kim, Firefly Aerospace
The results are the first to be released by Firefly following it’s IPO last month, which CEO Jason Kim said “reflects the bold culture of our generational company, which delivers on the most challenging missions in space.”
During the company’s second fiscal quarter, Kim testified before Congress on the success of Blue Ghost Mission 1 and the critical future of NASA’s Commercial Lunar Payload Services (CLPS) initiative. The company also noted that:
Blue Ghost Mission 2 structures entered assembly in Firefly’s spacecraft cleanroom after completing the Integration Readiness Review, with first payload delivery accepted.
United Arab Emirates’ Rashid 2 Rover announced as an international payload customer on Blue Ghost Mission 2.
Elytra Mission 3 contract awarded by the U.S. Department of Defense’s Defense Innovation Unit for a 2027 national security mission.
Ocula high-resolution imaging service unveiled, providing more than five years of commercial services in lunar orbit via Firefly’s Elytra spacecraft supporting each upcoming Blue Ghost mission.
Sweden signed Technology Safeguards Agreement with the U.S., clearing the way for Alpha launches from Esrange Space Center through Firefly’s partnership with the Swedish Space Corporation.
Northrop Grumman invested $50 million in preferred equity, backing Firefly’s long-term Eclipse™ launch vehicle partnership with additional financial support.
The initial public offering raised $933.1 million in net proceeds, and NASA awarded Blue Ghost Mission 4 contract worth $176.7 million for lunar payload delivery on July 29, 2025, increasing Firefly’s total backlog to approximately $1.3 billion.
Other highlights from the quarter include:
As of September 22, 2025, reached 95 hot fire tests of the Miranda engine, which will power the debut launch of Eclipse which is expected to take place as early as next year.
FAA issued Return to Flight determination for Alpha on August 26, 2025, with Firefly working to determine the next available launch window for Alpha Flight 7.
NASA awarded $10 million contract addendum on September 22, 2025, for acquisition of additional lunar data collected beyond the initial contractual requirements for Blue Ghost Mission 1.
“We’re ramping our flight cadence and have several Alpha vehicles in production to meet the strong demand for launch services, especially for responsive national security missions and our best-in-class customers,” Kim said.
Firefly expects FY 2025 full-year revenue to be between $133 million and $145 million.