Core Viewpoint - Firefly Aerospace Inc. is facing a class action lawsuit due to alleged violations of securities laws related to its initial public offering (IPO) and subsequent financial disclosures, which reportedly misrepresented the company's operational readiness and growth prospects [1][3]. Company Overview - Firefly Aerospace operates in the space and defense technology sector, providing mission solutions for national security, government, and commercial customers [2]. Class Action Details - The class action lawsuit, titled Diamond v. Firefly Aerospace Inc., claims that during the class period from August 7, 2025, to September 29, 2025, the company and its executives made false or misleading statements regarding the demand for its Spacecraft Solutions and the viability of its Alpha rocket program [1][3]. - The lawsuit alleges that Firefly Aerospace conducted its IPO on August 7, 2025, issuing approximately 19.3 million shares at an offering price of $45.00 per share [2]. Financial Performance - On September 22, 2025, Firefly Aerospace reported a loss of $80.3 million for Q2 2025, compared to a loss of $58.7 million in Q2 2024. Revenue was reported at $15.55 million, which was below analyst estimates of $17.25 million and represented a 26.2% decline year-over-year [4]. - The revenue from the Spacecraft Solutions segment was particularly concerning, with a reported figure of only $9.2 million, indicating a 49% year-over-year decrease [4]. Stock Price Impact - Following the negative earnings report, Firefly Aerospace's stock price fell by more than 15% [4]. - On September 29, 2025, the company disclosed an issue with the first stage of its Alpha Flight 7 rocket, leading to a further decline in stock price of over 20% [5].
FLY INVESTOR NOTICE: Firefly Aerospace Inc. Investors with Substantial Losses Have Opportunity to Lead Securities Class Action Lawsuit
TMX Newsfile·2026-01-05 12:05