Sep. 23 at 6:34 PM
Firefly Aerospace shares fell sharply, sliding more than 11% to trade below their
$45 IPO price, after posting disappointing first results as a public company. Fiscal Q2 revenue dropped 26% to
$15.6M, well short of the
$16.8M expected, while net loss widened to
$80.3M (
$5.78/sh) from
$48.7M (
$4.60/sh) a year earlier. The stock has now lost over 40% from its
$73.80 debut-day peak.
Analysts said the miss reflects the inherent volatility of the space sector, where manufacturing and launches often create “lumpiness” in results. Still, some remain optimistic, pointing to Firefly’s potential in defense, including tactically responsive launches, space-domain awareness, and missile-defense projects tied to U.S. government programs.
In contrast, Voyager Technologies has also struggled below its IPO price but has shown recent signs of recovery, while Karman Holdings has outperformed, tripling since its debut on the back of strong profitability.
$FLY $VOYG $KRMN