FLY · Firefly Aerospace Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Price · FLY
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|
| Revenue | $80.88M | - | $22.37M | $15.55M | - | - |
| Cost of Revenue | $63.42M | - | $22.29M | $18.12M | - | - |
| Gross Profit | $2.22M | - | $8.49M | $2.95M | - | - |
| R&D | $67.51M | - | $29.86M | $39.54M | - | - |
| SG&A | $12.75M | - | $21.92M | $12.29M | - | - |
| Total Operating Expenses | $113.13M | - | $70.68M | $51.85M | - | - |
| D&A | $4.00M | - | $4.60M | $1.50M | - | - |
| Operating Income | ($95.67M) | - | ($34.19M) | ($54.35M) | - | - |
| Interest Expense | $6.17M | - | $2.81M | $6.93M | - | - |
| Income Tax | $67.0K | - | $0 | $0 | - | - |
| Net Income | ($96.68M) | - | ($133.41M) | ($63.78M) | - | - |
| EPS - Basic | ($5.38) | - | ($1.50) | ($5.78) | - | - |
| EPS - Diluted | ($5.38) | - | ($3.57) | ($4.60) | - | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $326.18M | $792.97M | $26.36M | $205.29M | $81.94M | $17.84M |
| Accounts Receivable | $44.80M | $46.13M | $5.13M | $1.00M | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $41.08M | $35.63M | $30.43M | $32.88M | - | - |
| Current Assets | $673.55M | $963.17M | $1.02B | $234.11M | - | - |
| Total Assets | $1.49B | $1.82B | $1.26B | $407.33M | - | - |
| Current Liabilities | $266.25M | $213.58M | $164.93M | $179.38M | - | - |
| Long-term Debt | - | - | - | $112.96M | - | - |
| Total Liabilities | $387.11M | $635.00M | $307.37M | $411.42M | - | - |
| Stockholders' Equity | $1.10B | $1.19B | ($665.46M) | ($767.62M) | - | ($350.70M) |
| Retained Earnings | ($1.12B) | ($1.02B) | ($979.22M) | ($767.62M) | - | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($56.54M) | - | - | - | - | - |
| Investing Cash Flow | ($2.65M) | - | - | - | - | - |
| Financing Cash Flow | ($262.90M) | - | - | - | - | - |
| CapEx | $2.65M | - | - | - | - | - |
| Free Cash Flow | ($59.19M) | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 2.7% | - | 38.0% | 19.0% | - | - |
| Operating margin | -118.3% | - | -152.9% | -349.5% | - | - |
| EBITDA margin | -113.3% | - | -132.3% | -339.9% | - | - |
| Net margin | -119.5% | - | -596.4% | -410.2% | - | - |
| Free cash flow margin | -73.2% | - | - | - | - | - |
| FCF / Net income | 0.61 | - | - | - | - | - |
| R&D / Revenue | 83.5% | - | 133.5% | 254.3% | - | - |
| SG&A / Revenue | 15.8% | - | 98.0% | 79.0% | - | - |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -6.5% | - | -10.6% | -15.7% | - | - |
| Return on equity | -8.7% | - | 20.0% | 8.3% | - | - |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.53 | 4.51 | 6.20 | 1.31 | - | - |
| Quick ratio | 2.53 | 4.51 | 6.20 | 1.31 | - | - |
| Cash ratio | 1.23 | 3.71 | 0.16 | 1.14 | - | - |
| Leverage | ||||||
| Debt / Equity | - | - | - | -0.15 | - | - |
| Debt / Assets | - | - | - | 0.28 | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -15.5x | - | -12.2x | -7.8x | - | - |
| Equity multiplier | 1.35 | 1.53 | -1.89 | -0.53 | - | - |
| Liabilities / Assets | 0.26 | 0.35 | 0.24 | 1.01 | - | - |
| Efficiency | ||||||
| Asset turnover | 0.05 | - | 0.02 | 0.04 | - | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 202d | - | 84d | 24d | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 236d | - | 498d | 662d | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 0.3x | - | - | - | - | - |
| P / S | 4.7x | - | 123.0x | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - | - | - |
| Net income growth (YoY) | - | - | - | - | - | - |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$159.85M totalSpacecraft Solutions Revenue$131.24M · 82.1%
Launch Revenue$28.62M · 17.9%
Peer comparison
Same SIC group: Guided Missiles & Space Vehicles & Parts
Comparing Firefly Aerospace Inc. against the 5 most active filers in the same SIC group.