Core Insights - Firefly Aerospace's shares fell nearly 12% to around $43 following its first quarterly earnings report since going public, which revealed widening losses and issues with its Alpha rocket [2][6] - The company's second-quarter loss was reported at $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 last year [4] Financial Performance - The quarterly report indicated a significant increase in losses, with the current loss of $80.3 million representing a 36.5% increase from the previous year's loss of $58.7 million [4] - The stock price has now fallen below its initial public offering price of $45 per share, reflecting a decline in investor sentiment since its debut [2][3] Operational Challenges - The Federal Aviation Administration (FAA) had previously halted launches of Firefly's Alpha rocket due to a mishap during a flight in late April, which resulted in the rocket failing to reach orbit [4] - Following an investigation, the FAA has allowed Firefly to resume Alpha missions, and the company is now working to determine the next launch window for Alpha Flight 7 [5] Contracts and Future Prospects - Firefly received a $10 million contract addendum from NASA related to its Blue Ghost lunar mission, which was the first commercial spacecraft to land on the moon [6]