Firefly Aerospace shares jump 15% on strong revenues, boosted guidance

Core Insights - Firefly Aerospace's stock increased by 15% following the release of better-than-expected third-quarter results and an upward revision of its revenue guidance [1][2] - The company reported a revenue increase of nearly 38%, reaching $30.8 million compared to $22.4 million in the same quarter last year, and nearly doubling from the previous quarter [1][2] - Despite the revenue growth, Firefly reported a net loss of $140.4 million, or $1.50 per share, which included costs related to its IPO, foreign exchange, and executive severance [2] Financial Performance - The revised revenue outlook for the year is now between $150 million and $158 million, an increase from the previous guidance of $133 million to $145 million [2] - This marks Firefly's second quarterly report as a public company, following a previous quarter where shares fell due to a larger-than-expected loss and lower revenues [3] Market Context - Firefly Aerospace went public on the Nasdaq in August 2025 amid growing interest in space technology, supported by increased contracts from the U.S. government and NASA for moon missions [3] - However, the company's shares have decreased by 70% since their initial public offering, with market capitalization dropping from approximately $8.5 billion to about $2.7 billion [4] Recent Challenges - In September, Firefly's shares fell after a rocket explosion during a ground test, which occurred shortly after receiving FAA clearance for a separate incident [5] - The company has implemented "corrective measures" following the incident, but shares have continued to decline, dropping 35% in September and 24% in October [5] Strategic Developments - In July, Firefly secured a nearly $177 million contract with NASA for a moon mission, indicating strong government support [6] - The company also announced the acquisition of defense tech firm SciTec in October to enhance its national security portfolio [6]