Firefly Aerospace Soars Over 50% in First-Day Trading on Nasdaq
Investor Interest Grows as Firefly Aerospace Makes Strong Market Debut
Firefly Aerospace made a strong entrance on the Nasdaq Thursday, with its shares rising more than 50% during first-day trading. The stock closed up 34%, reflecting strong investor interest in the growing spacetech sector.
The company, based in Cedar Park, Texas, raised $868 million in its initial public offering. Shares were priced at $45 each—higher than the expected range—and are trading under the ticker symbol FLY.
Founded 11 years ago, Firefly Aerospace provides launch, landing, and in-space transportation services for both government and commercial customers. While it isn’t yet profitable, the company is seeing rapid revenue growth. In the first quarter of 2025, Firefly generated $55.9 million in revenue, compared to $8.3 million during the same period last year.
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Despite a net loss of $231 million in 2024 and $60 million in Q1 2025, investors appear optimistic about Firefly Aerospace’s future. The company operates in a complex sector where revenue is often tied to long-term contracts, making financial reporting less straightforward.
The IPO follows several high-profile tech listings, including Figma and AI infrastructure provider CoreWeave. These recent debuts have helped revive investor confidence in the IPO market, particularly for companies at the intersection of advanced technology and space innovation.
Over the years, Firefly Aerospace has raised nearly $700 million in equity funding. Its largest shareholder is AE Industrial Partners, which held 47% of pre-IPO shares.
The successful launch of Firefly Aerospace’s IPO adds to a broader trend of increased funding for spacetech startups. Several companies in the space sector have closed funding rounds of more than $100 million this year, signaling growing confidence among investors.