Firefly Aerospace | 10-Q: Quarterly report

Firefly Aerospace reported Q2 2025 revenue of $15.5 million, down 26% year-over-year, while gross profit increased 35% to $4.0 million. Launch revenue grew 113% to $6.3 million, driven by Eclipse development, while Spacecraft Solutions revenue declined 49% to $9.2 million due to the completion of one-time missions.Research and development expenses increased 16% to $45.8 million, reflecting investments in Eclipse development and expanded headcount. The company's net loss widened to $63.8 million from $53.5 million in Q2 2024, impacted by higher R&D costs and increased interest expenses of $5.2 million.The company maintained a strong liquidity position with $205.3 million in cash and cash equivalents as of June 30, 2025. Post quarter-end, Firefly completed its IPO raising net proceeds of $933.1 million and entered into a new $125 million revolving credit facility, strengthening its financial position for future growth initiatives.

Firefly Aerospace reported Q2 2025 revenue of $15.5 million, down 26% year-over-year, while gross profit increased 35% to $4.0 million. Launch revenue grew 113% to $6.3 million, driven by Eclipse development, while Spacecraft Solutions revenue declined 49% to $9.2 million due to the completion of one-time missions.Research and development expenses increased 16% to $45.8 million, reflecting investments in Eclipse development and expanded headcount. The company's net loss widened to $63.8 million from $53.5 million in Q2 2024, impacted by higher R&D costs and increased interest expenses of $5.2 million.The company maintained a strong liquidity position with $205.3 million in cash and cash equivalents as of June 30, 2025. Post quarter-end, Firefly completed its IPO raising net proceeds of $933.1 million and entered into a new $125 million revolving credit facility, strengthening its financial position for future growth initiatives.