Every 10-Q that Firefly Aerospace (FLY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FLY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FLY filings page.
Firefly Aerospace Inc. reported strong top-line expansion but continued losses for the period ended June 30, 2026. Revenue was $117.7 million for the quarter and $198.6 million for the first six months of 2026, driven mainly by Spacecraft Solutions, which contributed $108.3 million in quarterly revenue versus $9.2 million a year earlier. Launch revenue was $9.4 million for the quarter.
The company remains unprofitable, with a quarterly net loss of $92.3 million and a six‑month net loss of $189.0 million, and an accumulated deficit of $1.21 billion. Operating cash flow was negative $144.1 million in the first half, reflecting heavy R&D and selling, general and administrative spending plus contract loss provisions. Firefly ended June 30, 2026 with $459.8 million in cash and cash equivalents and $175.4 million in short‑term investments, while total debt fell to $27.2 million and its revolving credit facility was fully undrawn. Remaining performance obligations totaled $563.7 million, indicating a sizeable contracted backlog across launch and spacecraft solutions.
Firefly Aerospace Inc. reported first-quarter 2026 results showing rapid growth but continuing losses. Revenue rose to $80.9 million from $55.9 million, driven mainly by Spacecraft Solutions, while gross profit increased to $17.5 million from $2.2 million.
Heavy spending on research and development and selling, general, and administrative costs pushed the operating loss to $95.7 million and net loss to $96.7 million. Firefly ended the quarter with $326.2 million in cash and equivalents plus $225.4 million in time deposits, a total asset base of $1.49 billion, and remaining performance obligations of $652.6 million, while its revolving credit facility was undrawn.
Firefly Aerospace (FLY) reported Q3 2025 results with revenue of $30.8 million, up from $22.4 million a year ago. Spacecraft Solutions contributed $21.4 million and Launch revenue was $9.4 million. Gross profit was $8.5 million.
The company completed its IPO on August 8, raising $932.3 million net and ended the quarter with $995.2 million in cash and cash equivalents. IPO proceeds were used in part to fully repay Term Loans, resulting in a $30.4 million loss on extinguishment. Q3 included a $42.2 million loss from the change in fair value of warrant liability. Net loss was $133.4 million, or $1.50 per share, as R&D reached $48.8 million and SG&A $21.9 million. Deferred revenue totaled $169.7 million. Remaining performance obligations were $723.1 million, with 20.7% expected to be recognized within 12 months. As of November 10, 2025, common shares outstanding were 159,251,122.
Firefly Aerospace discloses financing, capital-structure and operational risk details in its Form 10-Q. The company had $136.1 million of term loans outstanding as of June 30, 2025, consisting of $103.5 million of Term A and $32.6 million of Term B that mature on July 17, 2028. Borrowings under the facility bore a fixed rate of 13.875%, with Term B set to increase to 19.135% in July 2026. The Credit Agreement includes minimum liquidity and free cash flow covenants: a $50.0 million minimum liquidity test and a minimum free cash flow floor of negative $325.0 million, both tested quarterly starting December 31, 2025, subject to change if a Leverage Covenant Triggering Event occurs.
The company reported capital transactions including a Series D initial closing that raised $175.5 million (10.4 million shares at $16.9213 each) and a subsequent Series D closing of $1.3 million. The RPM Call Option termination derecognized a $0.2 million Majority Sponsor Top-Up and a $4.2 million RPM Call Option and recognized those amounts in other income, net for the six months ended June 30, 2025. The company also disclosed a material weakness in internal control over financial reporting and noted risks including inability to operate Alpha at anticipated launch rates, manufacturing scale challenges, supply scarcity, and potential inability to generate sufficient cash to service indebtedness.