Firefly Aerospace, a space and defense tech firm backed by AE Industrial Partners, has disclosed a 10% year-over-year increase in revenue as part of its filing for a U.S. initial public offering. The Texas-based company reported $60.8 million in revenue for 2024, up from $55.2 million in 2023.
The filing comes amid a resurgence in the U.S. IPO market, particularly for space-related companies, as investor confidence rebounds following months of volatility driven by shifting policies and tariff uncertainty under President Donald Trump.
“There is a ‘window of opportunity’ in space-related IPOs,” said IPOX CEO Josef Schuster, noting heightened investor interest in the sector. “This is driven by enthusiasm about the growth prospects of the sector.”
Firefly specializes in the design and manufacturing of small and medium-lift launch vehicles, lunar landers, and orbital transfer vehicles. In March, the company achieved a major milestone with its first Moon landing using its Blue Ghost spacecraft—joining the ranks of private firms vying for leadership in the international lunar race.
The company said its revenue grew more than sixfold at the end of March to about $55.9 million, from $8.3 million a year ago. The company also reported a net loss of about $60.1 million, up from $52.8 million a year ago. Firefly said its backlog totaled about $1.1 billion.
Lead underwriters on the deal include Goldman Sachs, JPMorgan, Jefferies and Wells Fargo.
Valued at $2 billion during a November 2024 funding round, Firefly plans to list on the Nasdaq under the ticker symbol “FLY.” Goldman Sachs, JPMorgan, Jefferies, and Wells Fargo are serving as lead underwriters for the offering.
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