Firefly Aerospace rings the outlet bell on the Nasdaq on Aug. 7, 2025.
The Nasdaq
Firefly Aerospace jumped greater than 50% in its Nasdaq debut on Thursday next pricing stocks above its anticipated space.
Stocks began buying and selling at $70 every underneath the ticker image FLY. The preliminary worth values the corporate at related to $10 billion. The stocks ticked decrease next the revealed.
Area generation has won momentum lately as corporations comparable to Elon Musk’s SpaceX amass extra investment and govt assurances. Firefly is the 3rd dimension corporate to exit family this 12 months next Voyager Applied sciences and Karman Holdings.
The rocket and lunar lander maker priced stocks past due Wednesday at $45, above its anticipated space of $41 to $43, elevating $868 million. Previous this life, Firefly had hiked its space up from the $35 to $39 it first of all anticipated.
Firefly’s shoppers have integrated a rising checklist of key defense contractors comparable to Lockheed Martin and L3Harris, and the corporate not too long ago gained a $50 million funding from Northrop Grumman. Utmost pace, Firefly additionally gained a $177 million contract with NASA.
“It’s all about execution,” CEO Jason Kim informed CNBC’s “Squawk Box” on Thursday. “We’re focused on rating up our alpha rockets because there’s so much demand for the response of dedicated one-ton launches from national security, commercial, as well as hypersonic missile testing.”
Previous this 12 months, Firefly’s Blue Ghost lunar lander effectively touched i’m sick at the moon in a venture funded through NASA. Firefly could also be widely recognized for its Alpha rocket and has mentioned in its preliminary family providing submitting that its backlog totaled about $1.1 billion on the finish of March.
In its IPO submitting, Firefly mentioned earnings within the untouched quarter jumped sixfold to $55.9 million from $8.3 million. Then again, the corporate reported a web lack of about $60.1 million, up from $52.8 million within the year-ago duration.
Past simply dimension, the tech IPO marketplace has began to warmth up this 12 months next a longer dehydrated charm because of top inflation and emerging rates of interest. Figma, Circle and CoreWeave have all debuted in 2025 and noticeable their shares pop.
Protection and aerospace personal fairness company AE Commercial Companions owns a greater than 41% stake in Firefly and controls the corporate, consistent with the prospectus. Of Firefly’s 9 board participants, 5 lately paintings on the company. AE has $6.4 billion in property underneath control, consistent with its website.
