Firefly Aerospace Files for IPO: Because Even Rockets Need a Exit Strategy

In a move that shocked absolutely no one, another rocket company has decided to blast itself into the stock market, because what’s more on-brand for 2025 than turning space exploration into a speculative asset class? Firefly Aerospace, the Cedar Park-based space startup that recently made headlines by landing on the moon (and then promptly crashing a rocket into the Pacific), has filed to go public under the ticker symbol FLY. Because nothing says "cutting-edge aerospace innovation" like a stock ticker that sounds like a budget airline.

CEO Jason Kim, who joined the company just in time to take credit for the moon landing (but not the ocean crash), is already spinning this IPO as part of Firefly’s grand "2025-and-beyond" vision. Translation: "We’re losing money at an impressive rate, but just wait until you see our PowerPoint slides." The company’s revenue is up—which is great—but so are its losses, which have ballooned to a cool $231 million last year. At this rate, Firefly might not just reach the moon but also the hallowed halls of "tech companies that burn cash faster than a SpaceX booster re-entering the atmosphere."

And let’s talk about that "backlog" of $1.12 billion in future contracts. In startup speak, that’s called "vaporware with a side of hope." Sure, they’ve got deals lined up, but given their recent track record—one moon landing, one rocket swim—investors might want to ask: Is Firefly really a "partner of choice" for critical space missions, or just the only one willing to take NASA’s calls after Elon got bored?

Meanwhile, the company’s new director of investor relations is a former CNBC space reporter, because nothing reassures shareholders like hiring someone whose entire job used to be asking other CEOs why their stocks are tanking. And let’s not forget Firefly’s biggest competitor, Intuitive Machines, which went public as LUNR (because subtlety is dead) and is currently trading at roughly the same price as a Chipotle burrito bowl with extra guac.

So buckle up, future FLY bagholders. The only thing soaring higher than Firefly’s ambitions is its net loss margin. But hey, at least they’ve got a cool ticker symbol. To the moon! (Or, more likely, the Pacific Ocean.)