Workflow
FLY DEADLINE: Faruqi & Faruqi Reminds Firefly Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of January 12, 2026 - FLY
Prnewswireยท2025-11-14 15:07

Core Viewpoint - Firefly Aerospace Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements regarding its business operations and financial performance, particularly concerning its Spacecraft Solutions offerings and Alpha rocket program [4][2]. Group 1: Company Overview - Firefly Aerospace conducted its initial public offering (IPO) on August 7, 2025, selling 19.296 million shares at a price of $45.00 per share [5]. - The company reported a significant loss of $80.3 million, or $5.78 per share, for Q2 2025, which was an increase from a loss of $58.7 million, or $4.60 per share, in Q2 2024 [6]. Group 2: Financial Performance - Firefly's revenue for Q2 2025 was $15.55 million, falling short of analyst estimates of $17.25 million and representing a 26.2% decrease from the same quarter in 2024 [6]. - The revenue from the Spacecraft Solutions segment was particularly concerning, reported at only $9.2 million, indicating a 49% year-over-year decline [6]. Group 3: Stock Performance - Following the Q2 earnings report, Firefly's stock price dropped by $7.58, or 15.31%, closing at $41.94 on September 23, 2025 [7]. - After the announcement of a failed rocket test on September 29, 2025, the stock price fell further by $7.66, or 20.73%, closing at $29.30 on September 30, 2025 [9]. Group 4: Legal Proceedings - The law firm Faruqi & Faruqi, LLP is investigating potential claims against Firefly and has set a deadline of January 12, 2026, for investors to seek the role of lead plaintiff in the class action [2]. - The lawsuit alleges that Firefly and its executives made false or misleading statements regarding the demand for its products and the operational readiness of its rocket program, which could have a material negative impact on the company [4].