Firefly Aerospace IPO Values Company at $6.3 Billion

Firefly Aerospace, a Texas-based space and defense technology firm, raised $868 million in its Nasdaq IPO, giving it a post-offering valuation of $6.32 billion—the largest U.S. space tech IPO of the year. The company became the first commercial entity to achieve a fully successful lunar landing with its Blue Ghost lander in March 2025. Firefly specializes in cost-effective satellite launch vehicles and lunar landers, offering rapid-launch capabilities. It has secured a $1.1 billion backlog with more than 30 launches under contract, including missions for NASA and the U.S. Space Force. Despite these achievements, Firefly continues to operate at a loss, reporting a net loss of $231.1 million in 2024 and projecting continued losses as it invests in growth. The IPO is seen as a bellwether for the future of private space launch companies amid fierce competition.