Firefly Aerospace Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Firefly Aerospace Inc reported revenue of $159.9M and net income of ($334.0M).
| Line item | Dec 31, 2025 · FY |
|---|---|
| Revenue | $159.9M |
| Cost of sales | $129.2M |
| Gross profit | $30.7M |
| Research and development | $200.1M |
| Selling, general and administrative | $91.2M |
| (Gain) loss on disposal of fixed assets | ($9.0K) |
| Total operating expenses | $291.4M |
| Loss from operations | ($260.7M) |
| Change in fair value of warrant liability | ($50.3M) |
| Loss on extinguishment of debt | ($30.4M) |
| Interest income | $18.2M |
| Interest expense, net | ($21.6M) |
| Gain from settlement of contingent liabilities | $8.4M |
| Other income (expense), net | $894.0K |
| Total other expense, net | ($74.8M) |
| Loss before income tax benefit | ($335.5M) |
| Income tax benefit | $37.1M |
| Net loss and comprehensive loss | ($298.3M) |
| Less: Accretion of dividends | ($35.6M) |
| Net loss attributable to common shareholders, basic | ($334.0M) |
| Net loss available to common stockholders, diluted | ($334.0M) |
| Basic | -$4.83 |
| Diluted | -$4.83 |
| Basic | 69.2M |
| Diluted | 69.2M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $117.7M | $80.9M | $30.8M | $15.5M |
| Cost of sales | $93.8M | $63.4M | $22.3M | $11.6M |
| Gross profit | $23.9M | $17.5M | $8.5M | $4.0M |
| Research and development | $71.5M | $67.5M | $48.8M | $45.8M |
| Selling, general and administrative | $47.5M | $45.6M | $21.9M | $12.6M |
| Total operating expenses | $119.1M | $113.1M | $70.7M | $58.3M |
| Loss from operations | ($95.2M) | ($95.7M) | ($62.2M) | ($54.4M) |
| Change in fair value of warrant liability | ($625.0K) | ($3.7M) | ($42.1M) | — |
| Interest Income | $4.3M | $6.0M | — | — |
| Interest expense | ($1.8M) | ($3.6M) | — | — |
| Gain on settlement of contingent liabilities | $926.0K | $381.0K | — | — |
| Other (expense) income, net | $0 | ($7.0K) | ($3.0K) | ($4.2M) |
| Total other income (expense), net | $2.8M | ($941.0K) | ($71.2M) | ($9.4M) |
| Loss before (benefit) provision for income taxes | ($92.4M) | ($96.6M) | ($133.4M) | ($63.8M) |
| Benefit (provision) for income taxes | ($35.0K) | ($67.0K) | $0 | $0 |
| Net loss and comprehensive loss | ($92.3M) | ($96.7M) | ($133.4M) | ($63.8M) |
| Less: Accretion of dividends | $0 | $0 | $7.0M | $16.5M |
| Net loss available to common stockholders, basic | ($92.3M) | ($96.7M) | ($140.4M) | ($80.3M) |
| Net loss available to common stockholders, diluted | ($92.3M) | ($96.7M) | ($140.4M) | ($80.3M) |
| Basic | -$0.57 | -$0.61 | -$1.50 | -$5.78 |
| Diluted | -$0.57 | -$0.61 | -$1.50 | -$5.78 |
| Basic | 161.8M | 159.6M | 93.8M | 13.9M |
| Diluted | 161.8M | 159.6M | 93.8M | 13.9M |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Cash and cash equivalents | $793.0M |
| Short-term investments | $100.0M |
| Restricted cash, current | $0 |
| Accounts receivable, net | $46.1M |
| Advanced payments, current | $12.3M |
| Other current assets | $11.7M |
| Total current assets | $963.2M |
| Advanced payments, less current portion | $60.5M |
| Property and equipment, net | $163.7M |
| Restricted cash, less current portion | $0 |
| Right-of-use assets - operating leases | $13.9M |
| Right-of-use assets - finance leases | $3.7M |
| Intangible assets, net | $165.7M |
| Goodwill | $450.1M |
| Other noncurrent assets | $4.0M |
| Total assets | $1.8B |
| Accounts payable | $35.6M |
| Accounts payable - related parties | $330.0K |
| Accrued expenses | $42.8M |
| Operating lease liability, current | $1.2M |
| Finance lease liability, current | $1.1M |
| Deferred revenue, current | $116.1M |
| Notes payable, current | $7.1M |
| Other current liabilities | $9.4M |
| Total current liabilities | $213.6M |
| Operating lease liability, less current portion | $15.8M |
| Finance lease liability, less current portion | $2.0M |
| Deferred revenue, less current portion | $92.6M |
| Notes payable, less current portion | $281.4M |
| Notes payable, less current portion - related parties | $0 |
| Warrant liability | $12.3M |
| Other liabilities, less current portion | $17.3M |
| Total liabilities | $635.0M |
| Redeemable convertible preferred stock, $0.0001 par value; 100,000 and 51,033 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 0 and 41,588 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; $0 and $1,227,158 liquidation preference as of September 30, 2025 and December 31, 2024, respectively | 0 |
| Common stock, $0.0001 par value, 1,000,000 and 154,397 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 148,138 and 13,241 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 17.0K |
| Additional paid-in capital | $2.2B |
| Accumulated deficit | ($1.0B) |
| Total stockholders' equity (deficit) | $1.2B |
| Total liabilities, temporary equity, and stockholders' equity (deficit) | $1.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $459.8M | $326.2M | $995.2M | $205.3M |
| Short-term investments | $175.4M | $225.4M | — | — |
| Accounts receivable, net | $58.1M | $44.8M | $5.1M | $5.6M |
| Advanced payments, current | $71.6M | $61.8M | $14.3M | $13.6M |
| Contract assets | $19.9M | — | — | — |
| Other current assets | $14.4M | $15.3M | $7.4M | $8.7M |
| Total current assets | $799.3M | $673.5M | $1.0B | $234.1M |
| Advanced payments, less current portion | $10.3M | $10.3M | $45.4M | $41.8M |
| Property and equipment, net | $186.1M | $168.9M | $142.6M | $138.7M |
| Right-of-use assets - operating leases | $18.9M | $18.5M | $9.9M | $14.4M |
| Right-of-use assets - finance leases | $2.9M | $3.3M | $4.1M | $4.6M |
| Intangible assets, net | $152.3M | $160.2M | — | — |
| Goodwill | $467.0M | $453.4M | $17.1M | $17.1M |
| Other assets, less current portion | $2.5M | $3.8M | $14.3M | $784.0K |
| Total assets | $1.6B | $1.5B | $1.3B | $466.8M |
| Accounts payable | $57.8M | $41.1M | $30.4M | $32.9M |
| Accrued expenses | $52.4M | $50.4M | $20.2M | $16.7M |
| Accounts payable and accrued expenses - related parties | $1.4M | $581.0K | $790.0K | $441.0K |
| Operating lease liability, current | $3.1M | $2.1M | $395.0K | $316.0K |
| Finance lease liability, current | $1.1M | $1.1M | $1.0M | $1.1M |
| Deferred revenue, current | $151.2M | $146.2M | $95.2M | $82.7M |
| Notes payable, current | $7.4M | $7.1M | $7.0M | $6.9M |
| Other current liabilities | $18.8M | $17.8M | $9.9M | $6.5M |
| Total current liabilities | $293.1M | $266.2M | $164.9M | $147.4M |
| Operating lease liability, less current portion | $20.8M | $21.3M | $10.6M | $15.2M |
| Finance lease liability, less current portion | $1.5M | $1.7M | $2.3M | $2.5M |
| Deferred revenue, less current portion | $58.4M | $52.5M | $74.5M | $75.8M |
| Notes payable, less current portion | $19.6M | $19.7M | $23.2M | $123.5M |
| Warrant liability | $16.6M | $16.0M | $5.3M | $9.2M |
| Other liabilities, less current portion | $6.3M | $9.6M | $26.6M | $19.7M |
| Total liabilities | $416.3M | $387.1M | $307.4M | $411.4M |
| Common stock, $0.0001 par value, 1,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 166,207 and 159,276 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 17.0K | 17.0K | 16.0K | 2.0K |
| Additional paid-in capital, net | $2.4B | $2.2B | $1.9B | $0 |
| Accumulated deficit | ($1.2B) | ($1.1B) | ($979.2M) | ($918.0M) |
| Total stockholders' equity | $1.2B | $1.1B | $948.8M | ($918.0M) |
| Total liabilities and stockholders' equity | $1.6B | $1.5B | $1.3B | $466.8M |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Net loss | ($298.3M) |
| Depreciation and amortization | $23.2M |
| (Gain) loss on disposal of fixed assets | ($9.0K) |
| Stock-based compensation | $17.8M |
| Change in fair value of warrant liability | $50.3M |
| Loss on extinguishment of debt | $30.4M |
| Non-cash interest expense | $6.3M |
| Non-cash interest income | ($1.1M) |
| Non-cash inventory write-off | $0 |
| Deferred income taxe | ($37.2M) |
| Accounts receivable | $644.0K |
| Advanced payments | $21.3M |
| Other assets | ($314.0K) |
| Accounts payable | ($17.4M) |
| Accounts payable - related parties | $244.0K |
| Accrued expenses | ($22.6M) |
| Other liabilities | ($26.4M) |
| Right-of-use assets | $2.1M |
| Lease liabilities | ($6.9M) |
| Deferred revenue | $53.0M |
| Net cash used in operating activities | ($204.9M) |
| Purchases of property and equipment | ($32.8M) |
| Purchases of time deposits | $100.0M |
| Acquisition of business, net of acquired cash | ($277.4M) |
| Proceeds from sale of property and equipment | $280.0K |
| Proceeds from sale of short-term investments | $8.4M |
| Net cash used in investing activities | ($401.6M) |
| Proceeds from issuance of common stock | $943.7M |
| Costs associated with initial public offering | ($11.6M) |
| Proceeds from issuance of Preferred Stock | $232.0M |
| Principal payments on finance leases | ($1.4M) |
| Proceeds from issuance of notes payable | $0 |
| Payment of initial public offering closing Preferred Stock Dividend | ($5.0M) |
| Proceeds from notes payable - related parties | $0 |
| Repayment of notes payable - related parties | ($21.1M) |
| Payments on notes payable | ($133.2M) |
| Payments on mortgage principal | $0 |
| Payments of debt issuance costs | ($4.3M) |
| Payments of debt issuance costs - related parties | $0 |
| Proceeds from repayment of employee note | $601.0K |
| Proceeds from Revolving Credit Facility | $260.0M |
| Proceeds from exercise of stock options | $2.2M |
| Net cash provided by financing activities | $1.3B |
| Net increase in cash and cash equivalents and restricted cash | $655.4M |
| Balance, beginning of period | $137.6M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($189.0M) | ($96.7M) | ($257.3M) | ($123.9M) |
| Depreciation and amortization | $29.9M | $15.9M | $13.5M | $7.9M |
| Stock-based compensation | $29.5M | $12.5M | $5.2M | $1.2M |
| Change in fair value of warrant liability | $4.3M | $3.7M | $47.3M | $5.1M |
| Gain on settlement of contingent liabilities | ($1.3M) | — | — | — |
| Non-cash interest expense | $821.0K | $331.0K | $4.6M | $3.6M |
| Non-cash interest income | ($2.4M) | ($637.0K) | — | — |
| Accounts receivable | ($11.8M) | $1.3M | ($4.1M) | ($4.6M) |
| Advanced payments | ($8.4M) | $704.0K | $34.5M | $38.8M |
| Contract assets | ($16.4M) | — | — | — |
| Other assets | ($3.1M) | ($4.7M) | ($996.0K) | ($4.2M) |
| Accounts payable | $20.8M | $6.6M | ($5.3M) | ($3.3M) |
| Accrued expenses | $9.6M | $4.3M | ($5.0M) | $2.2M |
| Accounts payable and accrued expenses - related parties | $1.1M | $251.0K | $704.0K | $355.0K |
| Other liabilities | ($11.3M) | $1.5M | ($11.8M) | ($11.2M) |
| Right-of-use assets | $1.8M | $932.0K | $1.5M | $986.0K |
| Lease liabilities | $876.0K | $1.3M | ($6.6M) | ($2.1M) |
| Deferred revenue | $839.0K | ($9.9M) | $15.7M | $4.6M |
| Net cash used in operating activities | ($144.1M) | ($62.5M) | ($137.7M) | ($84.6M) |
| Purchases of property and equipment and internal-use software | ($41.1M) | ($16.3M) | ($20.8M) | ($11.8M) |
| Purchases of short-term investments | ($125.0M) | — | — | — |
| Payments for acquisitions of businesses, net of acquired cash | ($3.7M) | — | — | — |
| Proceeds from sale of short-term investments | $50.0M | $8.0K | — | — |
| Net cash used in investing activities | ($119.8M) | ($141.3M) | ($20.8M) | ($11.8M) |
| Proceeds from issuance of common stock | $184.1M | — | $943.7M | — |
| Payments of offering costs | ($1.5M) | — | — | — |
| Proceeds from issuance of Preferred Stock | $0 | $0 | $235.5M | $184.1M |
| Principal payments on finance leases | ($532.0K) | ($262.0K) | ($1.2M) | ($883.0K) |
| Payments on Notes Payable | ($3.9M) | ($1.8M) | ($131.5M) | ($3.2M) |
| Payments of debt issuance costs | ($1.2M) | — | ($2.1M) | ($575.0K) |
| Proceeds from repayment of employee note | $25.0K | $20.0K | $396.0K | $383.0K |
| Proceeds from issuance of notes payable | $1.7M | $0 | $0 | $0 |
| Repayment of Revolving Credit Facility | ($260.0M) | ($260.0M) | — | — |
| Proceeds from exercise of stock options, net of shares withheld for taxes | 12.0M | 452.0K | 2.2M | 595.0K |
| Net cash (used in) provided by financing activities | ($69.3M) | ($262.9M) | $1.0B | $180.4M |
| Net (decrease) increase in cash and cash equivalents and restricted cash | ($333.1M) | ($466.8M) | $858.4M | $84.0M |
| Balance, beginning of period | $793.0M | $793.0M | $137.6M | $137.6M |
| Balance, end of period | $459.8M | $326.2M | $996.0M | $221.5M |
| Cash and cash equivalents | $459.8M | $326.2M | $995.2M | $205.3M |
| Restricted cash, current | $0 | $0 | $829.0K | $829.0K |
| Restricted cash, non-current | $0 | $0 | $0 | $15.4M |
| Total cash and cash equivalents and restricted cash at the end of the period | $459.8M | $326.2M | $996.0M | $221.5M |
| Cash paid for interest | $5.5M | $4.2M | $14.4M | $11.1M |
| Increase in accounts payable for property and equipment | $1.1M | $1.9M | $1.9M | $1.4M |
| Property and equipment acquired through loans | $642.0K | — | — | — |
Firefly Aerospace Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.