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FLY Q3 FY2026 earnings call — BigGo Finance

Firefly Aerospace reported Q3 FY2026 revenue of $110.7M, up 259% YoY but down 29% QoQ. Gross margin improved to 22.9%. Net loss was $75.4M. Backlog grew to $1.7B. The company signed a $1.3B deal with AST SpaceMobile. Full-year revenue guidance was raised to $440-$450M. Management expects cash burn to increase in 2027 due to R&D and CapEx investments.

Original reporting
finance.biggo.com
Published Nov 11, 2026, 12:34 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Nov 11, 2026, 7:21 AM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
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AlphAI market briefEarnings
Primary signal
$FLY
Neutral
high confidence
Mentioned
$FLY
Relevance
7/10
AlphAI data visualization · based on finance.biggo.com
Decision brief

The 30-second read

$FLYNeutralMed
01

Why it matters

The earnings release provides fresh data on revenue, loss, backlog, and guidance, offering traders a basis for short‑term positioning.

02

Market read

First‑time earnings and guidance disclosure for Firefly Aerospace, a small‑cap aerospace player, with material contract updates and revenue outlook.

03

What to watch

The $1.3B AST SpaceMobile agreement is non‑dilutive and may provide long‑term cash flow, but its revenue recognition is spread over years.

Relevance 7/10Novelty 8/10Timing: post‑earnings today

Background

Firefly Aerospace reported its Q3 FY2026 results, showing rapid revenue growth, a larger backlog, and an updated revenue outlook, while noting increased cash burn and upcoming launch schedule changes.

Company-level read

Ticker impact

$FLYNeutralHigh confidence
Context

Q3 FY2026 earnings released with revenue of $110.7M, net loss of $75.4M and raised full-year revenue guidance to $440‑$450M.

Expected impact

modest upside as market prices in higher revenue guidance, tempered by larger net loss

Evidence & confidence

Revenue growth and backlog expansion are positive, but continued losses and cash burn keep risk elevated.

Market effects

Sector

Highlights growing demand for small‑satellite launch services and defense contracts, potentially benefiting peers in the commercial launch sector.

Regional

Strong U.S. defense and NASA contracts may boost domestic aerospace exposure.

Global

International launch contracts (Europe, Japan) signal expanding global footprint for the small‑launch market.

Counterpoint

What could challenge this read

Despite revenue growth, the widening net loss and high cash burn could pressure the stock if investors prioritize profitability.

Key entities

  • Company
    Firefly Aerospace

    U.S. aerospace firm providing launch and spacecraft services.

  • Partner
    AST SpaceMobile

    Entered a $1.3B IP, supply and services agreement with Firefly.

Read at source← All news

StoryFirefly Aerospace posts Q3 2026 revenue of $110.7 M, records $1.7 B backlog and lifts FY‑2026 revenue outlook

Also covered by

3 outlets

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Firefly Aerospace (FLY) Q3 2026 Earnings Call Transcript

Firefly Aerospace (FLY) announced a $1.3B partnership with AST SpaceMobile (AST) to build engines for AST's reusable launch vehicle. The deal includes $800M in cash and AST stock for engine IP licenses, $250M for support services, and $250M for engine deliveries. Firefly will deliver 36 engines, retaining IP ownership. The agreement is expected to boost Firefly's revenue, gross margins, and infrastructure.

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Firefly Aerospace (FLY) reported Q3 2026 sales of $110.7M, up 259% YoY, and an adjusted loss of $0.45 per share, better than expected. The company's backlog reached $1.7B. Barclays and B. Riley raised their price targets to $35 and $54, respectively. Shares rose 9.8% as of 11:20 a.m. ET.

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Why is Firefly Aerospace stock surging today?

Firefly Aerospace stock rose 10.2% after Q3 earnings beat expectations, with revenue at $110.7M (up 259% YoY) and adjusted loss of $0.45 per share. The company reported a record $1.7B backlog and raised 2026 revenue guidance. Analysts increased price targets, and a $1.3B deal with AST SpaceMobile was highlighted. The broader market also supported gains.

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