[Firefly Aerospace Q3 2026 Earnings Call] Firefly Q3 Revenue Soars 259% to $110.7M, Backlog Hits Record $1.7B on $1.3B AST SpaceMobile Deal

AST SpaceMobile (ASTS) reported a Q3 loss of $132.4M and a 12-month loss of $628.3M, with adjusted operating expenses rising and capex guidance for Q4 at $400M-$500M. Bearish analysts warn of heavy cash burn before wholesale revenues scale, with satellite deployments delayed until 2027.

Rakuten Group and AST SpaceMobile formed a joint venture, Rakuten AST, to build a satellite communications network in Japan. The project, supported by up to 148 billion yen in funding, aims to provide direct-to-device connectivity for smartphones, enhancing disaster resilience. Rakuten AST plans to commence operations by March 2029, leveraging AST SpaceMobile's satellites for high-speed internet access.

AST SpaceMobile will generate $100M from a U.S. Space Force program for tracking airborne threats. The company is known for satellites connecting directly to smartphones.

Firefly Aerospace reported 3Q 2026 revenue of $110.68M, up 260% YoY, with a net loss of $0.56 per share. Spacecraft Solutions revenue grew 396%, while Launch revenue fell 50%. R&D and SG&A expenses increased, but a favorable warrant liability change aided results. The company's backlog stands at $1.67B, with $400.3M from multi-launch agreements.

Firefly Aerospace (FLY) reported a Q3 loss of $94.2M, or 56 cents per share, beating analyst expectations of a 49-cent loss. Revenue was $110.7M, exceeding forecasts of $106.3M. The company expects full-year revenue between $440M and $450M.

Firefly Aerospace reported Q3 2026 revenue of $110.7M, up 259% YoY, with a record backlog of $1.7B. FY26 revenue guidance is $440M-$450M. Net loss narrowed to $94.2M from $133.4M YoY. The company secured new contracts, including a $94M Space Force deal.