Firefly Space files for an IPO

Firefly Aerospace has filed for an initial public offering (IPO), signaling its intent to enter the public markets later in 2025. The company, which achieved notable milestones this year including a commercial Moon landing, submitted its S-1 registration with the U.S. Securities and Exchange Commission. While the exact share count and pricing remain undisclosed, Firefly reported having $176.9 million in cash and equivalents, alongside $173.6 million in debt, including a $136.1 million term loan with a high interest rate. The IPO proceeds are expected to partly repay this debt. Financially, Firefly’s revenue grew significantly to $55.8 million as of March 31, 2025, primarily driven by its Blue Ghost lunar lander missions, but the company continues to operate at a net loss, with a $231.1 million loss in fiscal 2024. Looking ahead, Firefly projects strong growth supported by several major contracts and developments. These include a partnership with