Firefly Stock (FLY) Surges 24% on Robust Q3 Earnings and Alpha Rocket Relaunch Prospects
Firefly Aerospace's shares skyrocketed 24% following a stronger-than-expected Q3 earnings report, fueled by lunar data sales and progress in its Alpha rocket program. Revenue nearly doubled year-over-year to $30.8 million, with full-year guidance raised to $150-$158 million. The company's backlog now stands at $1.3 billion, including a $170 million contract with SciTec, signaling long-term growth potential.
Analysts remain bullish, with Cantor Fitzgerald maintaining a Buy rating and $65 price target. The anticipated relaunch of Firefly's Alpha rocket in late 2024 or early 2025—after resolving prior engine issues—could unlock new defense contracts and further upside. Deutsche Bank also highlighted the company's positioning in hypersonic technology as a key growth driver.
