FLY: Kirby McInerney LLP Advises Firefly Aerospace Investors of Class Action Lawsuit

Core Viewpoint - Firefly Aerospace is facing a class action lawsuit due to alleged securities fraud related to its initial public offering and subsequent financial disclosures, which may have misled investors about the company's growth prospects and operational readiness [3][4][5]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased Firefly securities from August 7, 2025, to September 29, 2025, alleging that the offering documents contained misleading statements and omitted necessary facts [3]. - Allegations include overstated demand for Firefly's Spacecraft Solutions and the operational readiness of its Alpha rocket program [3]. Group 2: Financial Performance - Firefly conducted its IPO on August 7, 2025, selling 19.296 million shares at $45.00 each [4]. - In its first earnings report as a public company on September 22, 2025, Firefly reported a loss of $80.3 million, or $5.78 per share, compared to a loss of $58.7 million, or $4.60 per share, in the same quarter of 2024 [5]. - Revenue for the second quarter of 2025 was $15.55 million, below analyst estimates of $17.25 million and down 26.2% year-over-year, with the Spacecraft Solutions segment revenue declining by 49% year-over-year to $9.2 million [5]. Group 3: Stock Price Impact - Following the earnings report, Firefly's stock price fell by $7.58, or approximately 15.3%, from $49.52 to $41.94 per share [5]. - After the disclosure of a failed rocket stage on September 29, 2025, shares dropped by $7.64, or about 20.7%, from $36.96 to $29.32 per share [6].