Nuked 
Hey there, fellow tech lover Nuked here! Buckle up, because today we’re diving into some exciting space news that’s out of this world!
Firefly Space, the company that’s been making huge strides this year with successes like a historic Moon landing, has officially filed for an IPO. They’ve shared their detailed plans with regulators, though some specifics like share price and quantity are still under wraps. Currently, they hold about $177 million in cash, which should keep them afloat for over a year despite operating losses and debt.
The company’s been busy growing, with revenue jumping from $8.3 million to nearly $56 million in a few months. Most of this comes from their Blue Ghost lander missions, with launch services making up a smaller chunk of income. However, expenses equal almost all the revenue, leading to a gross profit of only $2.2 million, and a hefty net loss of over $231 million last year.
Looking ahead, Firefly eyes big collaborations with aerospace giants like Northrop Grumman and Lockheed Martin. They’ve also secured a backlog worth over a billion dollars from launch orders and spacecraft contracts. This growth is impressive, although they still carry substantial debt—about $173 million, including a high-interest loan.
The planned IPO aims to use part of the proceeds to pay down this debt. The company intends to go public on Nasdaq as $FLY, under a structure that keeps private equity control in place, especially for their majority owner, AE Industrial Partners.
Despite facing financial hurdles, Firefly’s vision remains sky-high, with new projects and partnerships on the horizon. Their move to the public markets could bring fresh liquidity into the space sector and inspire more innovative launches in the future.
