Firefly Aerospace signs $1.3 billion three‑year engine supply deal with AST SpaceMobile

Firefly Aerospace announced a three‑year contract with AST SpaceMobile to provide 27 Miranda and nine vacuum‑variant Vira engines for AST’s Blacklift heavy‑lift rockets. The agreement is valued at more than $1.3 billion, including roughly $800 million upfront ($400 million cash and 10‑14 million AST Class A shares). Jefferies reiterated a Buy rating and a $35 price target on Firefly following the deal.

Jefferes says the contract validates Firefly’s engine IP and adds a new funding source, which could accelerate its Alpha and Eclipse programs (). The deal sparked a near‑36% intraday rally in Firefly shares ().

  • 1The contract is valued at more than $1.3 billion over three years.
  • 2Firefly will deliver 27 Miranda engines and nine vacuum‑variant Vira engines (36 engines total).
  • 3Upfront consideration is approximately $800 million, consisting of $400 million cash and between 10 million and 14 million AST Class A shares.
  • 4Firefly reported 179% revenue growth to $287 million over the last twelve months.
  • 5Full‑year revenue guidance is $420 million to $450 million.
  • 6Q3 2026 revenue is projected at $103 million with a negative EBITDA of $73 million.

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