Firefly Aerospace files for an IPO

Firefly Aerospace takes its tropical ambitions to public markets. The company, which has achieved a series of successes this year, including a historic commercial satellite, has declined to the organizers on Friday in detailing its public subscription plans at one time this year.

The S-1 document provided to the US Securities and Exchange Committee provides a widespread view of financial affairs and the company’s governance plans, although the number of shares will be offered and has not been revealed. This means that the final evaluation is still determined.

Firefly is heading to the initial public offering of $ 176.9 million in cash and cash rewards. While negative cash flows and cash losses incurred, Firefly expected that her money was sufficient to meet liquidity needs for at least 12 months.

The company has a lot of debts: about $ 173.6 million, including a $ 136.1 million loan at a rate of 13.87 %. The net returns from the public subscription will be used in part to pay this due loan, according to the S-1.

According to Firefly, Firefly recorded revenues of $ 55.8 million as of March 31, an increase of only $ 8.3 million for the same period in 2024. Most of that – about $ 50 million – is “space solutions”, or its blue ghost tasks, and only 5 million dollars of launch. But the devices are an expensive endeavor, and Firefly continues to burn a lot of money: the cost of sales, or the expenditure expenditures, is nearly $ 53 million as of March 31, leaving only $ 2.2 million of total profits.

The company worked with a net loss of 231.1 million dollars for the fiscal year 2024, up from 135.5 million dollars in 2023. Its net losses at the end of the first quarter amounted to 60.1 million dollars.

However, the company tells potential investors that it sees nothing but growth in the future, and there are a few huge developments in the pipeline that can prove this. This includes a major partnership with the Northrop Grumman defense giant of a new re -launch vehicle called ECLIPSE, a launch agreement of up to 25 launch operations with Lockheed Martin, and the ELLETRA imminent trade appearance, a spacecraft line designed for transportation services within space.

The company also cited a strong request to customers, noting that as of March 31, it had about $ 1.1 billion of accumulated launch orders and spacecraft contracts. This is about $ 560 million in accumulated requests that had had a year ago. This large batch of three multiple -launch agreements in the Alpha Small missile in Firefly and an additional contract to deliver the moon to Blue Ghost Lander.

The organizational document also states that Firefly intends to be a “controlled company” – basically, that it will benefit from the NASDAQ rules to ensure that AE Industrial Partners, a private stock company that bought the majority share in Firefly in 2022, will maintain great control in the company even after it was listed in public markets.

The company based on Nasdaq Global markets under Ticker $ Fly. The news comes after a relative quiet period from Space Company. There were a large number of space companies that were publicly published through mergers with private purposes in 2021 and 2022, many of which failed to perform.

The General subscription in Firefly is likely to provide some liquidity that affects the need for the market. His public subscription comes after only one month from Voyager Space, a space company that built a private space station, which presented its underwriter work last month.