Firefly Aerospace Inc. (NASDAQ: FLY) reported its second-quarter financial results after the closing bell on Tuesday, and the numbers were hard to miss. The company delivered a double beat, with revenue coming in well above what analysts had penciled in.
Revenue for the quarter hit $117.68 million, crushing the consensus estimate of $88.20 million. That's a staggering 659% jump from the same period last year, and a 45.5% increase from the first quarter. On the bottom line, Firefly reported an adjusted loss of 42 cents per share, which was better than the expected loss of 52 cents per share.
The company didn't just rely on one big win to drive growth. Firefly highlighted a slew of achievements during the quarter, including multiple NASA contracts, Air Force contracts, and a collaboration with Nvidia. CEO Jason Kim was clearly pleased with the momentum, saying, "Breaking the $100 million mark with another quarterly revenue record demonstrates Firefly's amplified growth. With more than a half dozen contract wins during the second quarter, we are matching execution to rocket, spacecraft and software orders across our programs."
Kim also pointed to Firefly's expanding lunar ambitions, adding, "Firefly is leading the way in unlocking the lunar opportunity, with another two Moon missions added to our manifest during the second quarter. We're also going beyond the Moon to Mars as we support the cutting-edge SkyFall mission for NASA."
Financially, Firefly ended the quarter with $459.82 million in total cash and cash equivalents, plus approximately $175.45 million in short-term investments. That gives the company a solid cushion as it continues to scale.
Looking ahead, Firefly is sticking with its full-year 2026 revenue guidance of $420 million to $450 million, which brackets the analyst consensus of $440.35 million. Management will discuss the quarter in more detail on an earnings call with investors and analysts at 5 p.m. ET.
Investors seemed to like what they saw. Firefly shares were up 1.21% in Tuesday's after-hours session, trading at $26.68 at the time of publication.
