Firefly Aerospace Brings his orbital ambitions to the public markets. The company, which has achieved a series of successes this year, including a historical commercial moon landing, submitted its formal statement to regulations on Friday with details about his plans for IPO somewhere this year.
The S-1 Document Subject to the US Securities and Exchange Commission offers a broad view of the company’s finance and management plans, although the number of shares to be offered and their price range has not been announced. This means that the final valuation still has to be determined.
Firefly goes to the first public offer with $ 176.9 million in cash and kasequivalents. And although the negative cash flows and losses of operations have sustained, Firefly projected that his money is sufficient to meet its liquidity needs for at least 12 months.
The company has many debts: around $ 173.6 million, including a loan of $ 136.1 million with an interest rate of 13.87%. The net revenue of the IPO will be partially used to repay that outstanding loan, according to the S-1.
It is said that Firefly scored $ 55.8 million in income from 31 March, an increase of only $ 8.3 million for the same period in 2024. The majority of it – about $ 50 million – comes from “Spacecraft Solutions” or his Blue Ghost Lander -Missions, and only $ 5 million from the Lancing. But hardware is an expensive company, and Firefly still burns a lot of money: the selling costs or costs were almost as much as income – about $ 53 million as of 31 March, so that only $ 2.2 million in gross profit was left.
The company operated with a net loss of $ 231.1 million for the tax year of 2024, an increase of $ 135.5 million in 2023. Losing the net at the end of the first quarter were $ 60.1 million.
Yet the company says potential investors that it sees nothing but growth, and there is a handful of huge developments in the pipeline that can prove that that is true. This includes an important partnership with Defense Giant Northrop Grumman for a new, reusable launch vehicle called Eclipse, a launch agreement for a maximum of 25 launches with Lockheed Martin, and the approaching commercial debut of Elytra, designed a space -in -laws for transport services in the room.
The company also called a strong question from the customer and noted that on 31 March it had around $ 1.1 billion in arrears and spacecraft. That is about double the $ 560 million in arrears orders that had a year earlier. That big boost came from three multi-launch agreements for Firefly’s small Alfa rocket and an extra Lunar Delivery contract for his Blue Ghost Lander.
The regulatory document also states that Firefly is planning to be a ‘controlled company’ -essentially it will use the Nasdaq rules to ensure that AE Industrial Partners, the private Equity company that in 2022 a majority interest in Firefly in Firefly, even after the company, has a significant management control control.
The company is planning to mention Global Markets on the Nasdaq Global under the Ticker symbol $ Fly. The news is excluded after a relatively quiet period of space company. There was a whole series of space companies that were made public through mergers with special acquisition companies in 2021 and 2022, many of which are not performing.
The IPO of Firefly will probably offer much needed liquidity on the market. The IPO comes only a month after Voyager Space, a space company that built the private space station StarLab, submitted its IPO paper work last month.
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