Firefly Aerospace made history on Thursday, debuting on the Nasdaq with a 34% increase in stock value. The company closed at $60.35 per share, valuing it at roughly $8.5 billion. This is significant as it follows an extended dry spell for tech IPOs, which have seen stocks pop after debut.
Space technology has gained momentum over the past few years, thanks to billionaire-led startups like Elon Musk’s SpaceX accumulating more funding and government contracts. Firefly Aerospace is the third space company to go public this year, joining Voyager Technologies and Karman Holdings.
The rocket and lunar lander maker priced shares above its expected range of $41 to $43, raising $868 million. This news comes after CEO Jason Kim emphasized execution as key to success in a recent interview with CNBC’s “Squawk Box”. Firefly has secured significant funding from companies like Northrop Grumman and Lockheed Martin, and has won numerous contracts, including a $177 million deal with NASA.
Firefly Aerospace has also seen revenue jump sixfold to $55.9 million in the latest quarter, but reported a net loss of about $60.1 million. The company’s backlog totals around $1.1 billion at the end of March. AE Industrial Partners owns over 41% stake in Firefly and controls the company, with its management holding more than half of the board.
This debut marks a new era for space technology investment, following a period of low growth due to high inflation and rising interest rates. The tech IPO market is starting to heat up, with companies like Figma, Circle, and CoreWeave seeing their stocks rise after their debut in 2025.
Source: https://www.cnbc.com/2025/08/07