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Firefly Aerospace reported a third-quarter loss of $94.2 million as revenue climbed to $110.7 million, and raised the lower end of its full-year revenue forecast by $20 million. Its adjusted loss per share was also smaller than analysts had expected.
The space- and defense-technology company’s loss was 56 cents a share, compared with $133.4 million, or $1.50 a share, a year earlier. Excluding certain one-time items, the adjusted loss was 45 cents a share; analysts polled by FactSet had forecast 50 cents.
Revenue rose from $30.8 million a year earlier, topping FactSet’s $102.3 million estimate. Firefly ended the quarter with a $1.7 billion backlog, up from $1.5 billion at the end of the second quarter.
The company now expects full-year revenue of $440 million to $450 million. Chief Executive Jason Kim cited five Moon missions running in parallel, Alpha Block II moving toward launch, SciTec’s national security programs and a strategic deal with AST SpaceMobile as factors in turning its pipeline and backlog into results.
Firefly shares fell 3.7% to $22.83 in after-hours trading Tuesday.
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