Why Is FIREFLY AEROSPACE IN (FLY) Stock Up Today?

Firefly Aerospace (FLY) shares rose 8.31% to $25.67, driven by third-quarter results that exceeded expectations and a significant expansion of its revenue outlook. The company reported higher-than-forecast revenue and a narrower adjusted loss, bolstered by a major partnership with AST SpaceMobile.

What Happened

Firefly Aerospace reported third-quarter 2026 revenue of $110.7 million, a 259% increase year over year, compared to an estimate of $102 million. Adjusted earnings per share came in at negative $0.45, beating the expected negative $0.48. The company raised its fiscal 2026 revenue guidance to a range of $440 million to $450 million. This update followed the announcement of a $1.3 billion deal with AST SpaceMobile, which contributes to a record total backlog of $1.7 billion. B. Riley raised its price target to $54 from $40 and maintained a Buy rating, while Barclays increased its target to $35 from $34. CEO Jason Kim stated on the earnings call that rocket demand is currently outstripping supply.

What The Data Shows

The stock opened at $24.25, a 2.3% gap up from the prior close of $23.70. Intraday trading saw a session high of $26.39 at 9:30 AM ET and a low of $23.25 at 8:45 AM ET. Volume stood at 1.3 million shares, which is 0.4 times the three-month daily average. The company has a market capitalization of $4.1 billion and remains unprofitable with a trailing twelve-month EPS of negative $2.60. Revenue growth over the same period was 179.2%, while the net margin was negative 129.1%. The stock is trading within a 52-week range of $14.45 to $62.17. Over the last eight sessions, the share price climbed 32.1% from $17.93 to $23.70. The stock printed three fresh 52-week highs on November 11, 2026.

What To Watch

Coverage of the stock has increased, with 23 stories published by 11 sources in the last 36 hours. Investors will monitor how the expanded backlog and raised guidance influence future quarterly performance and valuation metrics.