Firefly Aerospace Posts $110.7 Million in Third-Quarter Revenue and a $1.7 Billion Backlog

Firefly Aerospace reported third-quarter revenue of $110.7 million, up 259% from $30.8 million a year earlier, and said its backlog grew to about $1.7 billion, Yahoo Finance reported. The Motley Fool’s transcript of the company’s Nov. 10 earnings call recorded the same figures. The company also raised the low end of its 2026 revenue outlook to $440 million, for a range of $440 million to $450 million, compared with a prior range of $420 million to $450 million.

Why it matters: Both accounts said spacecraft revenue was $106 million and launch revenue was $4.7 million. Yahoo said year-to-date revenue reached $309.2 million, up 203%. The Fool’s takeaway list said the backlog rose from $1.5 billion in the prior quarter after new awards in ground-based radar and hypersonic work. CFO Darren Ma said, according to Yahoo, that strength in lunar programs and AI software was offsetting some of the impact from a delayed launch.

Firefly described a three-year agreement with AST SpaceMobile valued at more than $1.3 billion. Ma said it has three parts: about $800 million in cash and AST stock for engine intellectual-property licenses, including $400 million in cash and 10 million to 14 million AST Class A shares; $250 million for support services; and $250 million for engine deliveries — 27 Miranda first-stage engines and nine Vira upper-stage engines for AST’s first three flights, both reports said. Firefly said it will keep ownership of the engine intellectual property. CEO Jason Kim said AST’s vehicle will be built to launch AST’s own constellation, while Firefly continues to serve other commercial and government launch customers.

The company is targeting the first quarter of 2027 for Alpha Flight 8 after a national-security customer required a manifest change, Kim said, and that flight is expected to debut the Block II configuration. The Fool’s transcript said figures discussed on the call were non-GAAP unless otherwise stated, and listed a non-GAAP net loss of $75.4 million, or $0.45 a share, and an adjusted EBITDA loss of $69.5 million.