UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________ Commission File Number: 001-43009 STARFIGHTERS SPACE, INC. (Exact name of registrant as specified in its charter) Delaware 92-1012 ...

Core Insights - The latest data indicates significant increases in indicative borrow rates for various liquid option names, with Starfighters Space, Inc. (FJET) leading at 105.13% [1] Group 1: Borrow Rate Increases - Starfighters Space, Inc. (FJET) shows a borrow rate increase of 105.13%, up by 2.83 [1] - GraniteShares 1.5x Long COIN Daily ETF (CONL) has a borrow rate of 11.48%, increasing by 0.83 [1] - Icici Bank (IBN) reports a borrow rate of 1.10%, up by 0.80 [1] - EETH ETF (EETH) experiences a borrow rate of 19.93%, increasing by 0.59 [1] - Tradr 2X Long IREN Daily ETF (IREX) shows a borrow rate of 24.34%, up by 0.56 [1] - iShares Investment Grade Corporate Bond ETF (LQD) has a borrow rate of 3.00%, increasing by 0.55 [1] - Beyond Meat (BYND) reports a borrow rate of 12.97%, up by 0.49 [1] - Rani Therapeutics Holdings (RANI) shows a borrow rate of 18.04%, increasing by 0.44 [1] - Direxion Daily 20 plus Year Treasury Bear 3X Shares (TMV) has a borrow rate of 23.47%, up by 0.43 [1] - DeFi Development Corp (DFDV) reports a borrow rate of 10.50%, increasing by 0.39 [1]

Core Insights - Starfighters Space, Inc. (NYSE:FJET) is highlighted as a speculative investment opportunity, particularly in the context of recent market rotations [1] - The company operates a fleet of F-104 supersonic aircraft, providing pilot, astronaut, and in-flight testing services, as well as launch and access-to-space solutions [1] - Recent successful supersonic flight tests for GE Aerospace under the ATLAS program validate the company's business model and operational capabilities [1] Company Overview - Starfighters Space, Inc. specializes in aerospace services, including support for defense and hypersonic research [1] - The company completed three captive-carry flights using an F-104 aircraft, achieving speeds above Mach 2 (over 1,500 miles per hour) [1] - CEO Rick Svetkoff emphasized the validation of the business model and the advanced capabilities of the aircraft and flight operations team [1] Investment Considerations - While FJET shows potential as an investment, there are other AI stocks that may offer greater upside potential with less downside risk [1]

Market Overview - U.S. stock futures showed mixed results, with Dow futures declining by 0.2% [1] Company-Specific Movements - Jefferson Capital Inc (NASDAQ:JCAP) experienced a significant drop of 4.4%, trading at $22.00, following the announcement of a secondary offering of 10 million shares [1] - MOBIX LABS, INC. (NASDAQ:MOBX) fell sharply by 25.4% to $0.24 due to plans for a common stock offering [2] - Datavault AI Inc (NASDAQ:DVLT) shares decreased by 12.4% to $1.26 after a previous surge of 43% on Monday, linked to a nationwide deployment announcement [2] - BitVentures Ltd – ADR (NASDAQ:BVC) saw a decline of 9.7% to $13.33 after a 5% gain on Monday [2] - Zenas Biopharma Inc (NASDAQ:ZBIO) tumbled by 6.6% to $15.50 following a 52% drop on Monday due to Phase 3 trial results [2] - Theravance Biopharma Inc (NASDAQ:TBPH) dipped 6% to $17.07 after a 3% decline on Friday [2] - Graphic Packaging Holding Co (NYSE:GPK) fell 4.9% to $14.70 ahead of its fourth quarter financial results announcement [2] - ATRenew Inc (NYSE:RERE) declined by 4.1% to $5.65 after a 9% gain on Monday [2] - Rezolve AI PLC (NASDAQ:RZLV) fell 3.7% to $3.07 in pre-market trading [2] - NovaBay Pharmaceuticals Inc (NYSE:NBY) slipped 3.4% to $6.52 after a 15% jump on Monday [2] - Starfighters Space Inc (NYSE:FJET) decreased by 3.3% to $9.08 after a 10% dip on Monday [2]

Core Insights - The U.S. is experiencing a 'Sputnik moment' in tactical space access, with a significant investment of over $6.9 billion allocated by the Pentagon for hypersonic weapons development in FY 2025, indicating a shift towards speed superiority in the hypersonic technology market, projected to reach $8.46 billion by 2025 [1][2] Industry Overview - The global commercial space launch services market is expanding at a compound annual growth rate (CAGR) of 14.6%, valued at $8.2 billion in 2024, driven by satellite operators' demand for rapid deployment and mission flexibility [2] - The Space Force's FY 2026 budget authorizations are approaching $40 billion, highlighting the urgency for reusable platforms, hypersonic propulsion systems, and resilient satellite networks to respond to emerging threats quickly [2] Company Highlights: Starfighters Space, Inc. - Starfighters Space, Inc. recently provided a year-end corporate update, marking a transformational year following its successful listing on the NYSE American exchange [3] - The company operates the world's largest commercial supersonic aircraft fleet, utilizing seven F-104 Starfighter aircraft capable of sustained MACH 2 flight, offering flexible scheduling and rapid turnaround times for payload launches [4][5] - Starfighters generates revenue through various channels, including hypersonic weapons testing in partnership with the U.S. Air Force Research Laboratory, addressing national security priorities amid competition from Russia and China [7] - The STARLAUNCH program targets small satellite operators, providing a cost-effective alternative to expensive dedicated launches with projected costs around $15,000 per kilogram [8][9] Company Highlights: AST SpaceMobile, Inc. - AST SpaceMobile successfully launched BlueBird 6, the largest commercial communications array in low Earth orbit, designed to provide peak data rates of up to 120 Mbps to standard mobile devices [10][11] - The company plans to launch 45-60 satellites by the end of 2026, aiming to build global coverage for its network of over 50 mobile operator partners [12] Company Highlights: Rocket Lab Corporation - Rocket Lab concluded 2025 with its 21st successful Electron launch, achieving 100% mission success while deploying a satellite for Japan-based iQPS, solidifying its position as a leading small launch provider [13][14] - The company plans to expand Electron's global reach with more multi-launch constellation deployments and dedicated missions for defense applications [14] Company Highlights: L3Harris Technologies - L3Harris received a letter of intent from Kratos Defense & Security Solutions for a commercial contract to produce 60 Zeus hypersonic motors, increasing its annual production rate by over 50% [15][16] - The Zeus motors support critical hypersonic vehicle and ballistic missile defense testing, addressing the growing demand for hypersonic test capabilities [16][19]

Company Overview - Intelligent Bio Solutions Inc. (NASDAQ:INBS) announced plans to raise $10 million through a private placement, leading to a significant drop in its share price [1] - Following the announcement, shares of Intelligent Bio fell 19.7% to $7.65 [1] Stock Movements - Lavoro Limited (NASDAQ:LVRO) saw a substantial increase of 181%, reaching $1.2900 [4] - Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) rose 57.7% to $5.32 after issuing FY26 guidance, expecting US net sales of Linzess to be between $1.125 billion and $1.175 billion [4] - Brand Engagement Network, Inc. (NASDAQ:BNAI) jumped 56% to $3.6290 after entering a Vendor Services Project Agreement with a global advertising agency [4] - ChowChow Cloud International Holdings Limited (NYSE:CHOW) increased by 39.7% to $0.8500 due to year-over-year revenue and net income growth in H1 2025 [4] - Sidus Space, Inc. (NASDAQ:SIDU) gained 29% to $4.0314, marking a 470% surge over the past month [4] - Baidu, Inc. (NASDAQ:BIDU) rose 12.1% to $146.57 after announcing a proposed spin-off and Hong Kong listing of its AI unit [4] Declines - Outlook Therapeutics, Inc. (NASDAQ:OTLK) experienced a significant decline of 58% to $0.6632 after receiving a complete response letter from the FDA regarding its biologics license application [4] - ESH Acquisition Corp. (NASDAQ:ESHA) fell 23.5% to $14.68 [4] - Nuvve Holding Corp. (NASDAQ:NVVE) declined 15.3% to $2.1500 after announcing the closing of a private placement [4]

Core Insights - Starfighters Space, Inc. (FJET) went public earlier this month, raising $40 million at a share price of $3.59, but the stock price experienced significant volatility, peaking at $31.50 before currently trading at $12.40, reflecting a 60% loss in value [2]. Company Overview - Starfighters Space, Inc. is involved in the aerospace sector and aims to capitalize on the growth prospects within this industry [2]. Analyst Background - The analysis is provided by Dhierin-Perkash Bechai, an aerospace, defense, and airline analyst with a background in aerospace engineering, who focuses on identifying investment opportunities in the aerospace, defense, and airline sectors [2].

Core Viewpoint - The newly listed space concept stock Starfighters Space (FJET.US) experienced significant volatility, with a pre-market rebound of over 10% to $14.37 after a dramatic rise of 371% on Monday followed by a nearly 60% drop on Tuesday, attributed to a low float and speculative business outlook [1] Company Overview - Starfighters Space operates the world's only commercial supersonic fleet and raised $40 million through its IPO, but has reported no operating revenue over the past three years [1] - The company's primary project is "StarLaunch," which aims to deploy satellites and small payloads into space using jets capable of flying at twice the speed of sound (Mach 2) [1] Business Services - In addition to its core project, the company provides pilot and astronaut training, in-flight testing, and other services for both defense and private sectors [1] - Current clients include major organizations such as Lockheed Martin, General Electric (GE), Innoveering, Space Florida, and the U.S. Air Force Research Laboratory [1]

Core Viewpoint - The newly listed space concept stock Starfighters Space (FJET.US) experienced significant volatility, with a pre-market rebound of over 10% to $14.37 after a dramatic rise of 371% on Monday followed by a nearly 60% drop on Tuesday, attributed to a low float and speculative business outlook [1] Company Overview - Starfighters Space operates the world's only commercial supersonic fleet and raised $40 million through its IPO, but has reported no revenue over the past three years [1] - The company's core business involves the development of a project named "StarLaunch," which aims to deploy satellites and small payloads into space using jets capable of flying at twice the speed of sound (Mach 2) [1] Services and Clients - In addition to its primary project, the company provides pilot and astronaut training, in-flight testing, and other services for both defense and private sectors [1] - Current clients include major organizations such as Lockheed Martin, General Electric (GE), Innoveering, Space Florida, and the U.S. Air Force Research Laboratory [1]

Core Viewpoint - Starfighters Space (FJET.US) has experienced extreme stock price volatility, with a pre-market rebound of over 10% to $14.37 after a dramatic rise of 371% followed by a nearly 60% drop [1] Company Overview - Starfighters Space operates the world's only commercial supersonic fleet and has raised $40 million through its IPO, but has reported no operating revenue in the past three years [1] - The company's primary project, "StarLaunch," aims to deploy satellites and small payloads into space using jets capable of flying at twice the speed of sound (Mach 2) [1] Business Services - In addition to its core project, the company provides pilot and astronaut training, in-flight testing, and other services to both defense and private sectors [1] - Current clients include major organizations such as Lockheed Martin, General Electric (GE), Innoveering, Space Florida, and the U.S. Air Force Research Laboratory [1]