Firefly Launches Hot IPO, Backed by $1.1B in Contracts and NASA Moon Missions

Firefly Aerospace soared in its Nasdaq debut Thursday, closing at $60.35, up from its $45 IPO price, according to The Wall Street Journal. The Texas-based space company sold over 19 million shares to raise $868 million, drawing close attention as a gauge of IPO market strength and investor interest in space companies. CEO Jason Kim said the funding will accelerate rocket production and launch cadence, citing a $1.1 billion backlog and more than 30 contracted Alpha rocket launches. Losses widened to $231 million, despite growing revenue to $61 million in 2024. Firefly’s customers include L3Harris, the National Reconnaissance Office, and NASA, with three future moon landings scheduled.