Reported Q: Q1 2021 Rev YoY: -34.2% EPS YoY: -108.9% Move: -2.57%
Firefly Aerospace Inc
FLY
$26.82 -2.57%
Exchange NASDAQ Sector Industrials Industry Aerospace Defense
Q1 2021
Published: Mar 31, 2021

Company Status Snapshot

Fast view of the latest quarter outcome for FLY

Reported

Report Date

Mar 31, 2021

Quarter Q1 2021

Revenue

79.97M

YoY: -34.2%

EPS

-0.11

YoY: -108.9%

Market Move

-2.57%

Previous quarter: Q4 2020

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Earnings Highlights

  • Revenue of $79.97M down 34.2% year-over-year
  • EPS of $-0.11 decreased by 108.9% from previous year
  • Gross margin of 61.1%
  • Net income of -3.39M
  • "" -
FLY
Company FLY

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Executive Summary

Firefly Aerospace reported Q1 2021 results with revenue of $79.97 million, marking a 17.5% QoQ rise from Q4 2020 but a 34.2% YoY decline. The quarter delivered a robust gross margin of 61.15% and a solid operating margin of 44.27%, underscored by an EBIT of $35.40 million and EBITDA of $48.27 million. Net income was negative by $3.39 million, primarily driven by substantial other income/expenses of $(39.17) million and non-cash charges, notably depreciation and amortization of $29.97 million. Management commentary in a typical cycle around launch cadence would likely emphasize the cadence of Alpha/Eclipse programs, the funding runway, and the progression of lunar services (Blue Ghost) and related mission solutions. Importantly, cash flow remained constructive: net cash provided by operating activities was $28.12 million, capital expenditures were modest at $1.60 million, yielding free cash flow of $26.52 million. The company finished the period with $151.23 million in cash and cash equivalents, against long-term debt of $1.901 billion, producing a healthy but elevated leverage profile (debt ratio 0.75).

Key Performance Indicators

Revenue
Decreasing
79.97M
QoQ: 17.50% | YoY: -34.21%
Gross Profit
Stable
48.90M
61.15% margin
QoQ: 55.35% | YoY: N/A
Operating Income
Decreasing
35.40M
QoQ: 60.99% | YoY: -55.87%
Net Income
Decreasing
-3.39M
QoQ: 96.83% | YoY: -108.91%
EPS
Decreasing
-0.11
QoQ: 96.87% | YoY: -108.89%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2021 79.97 -0.11 -34.2% View
Q4 2020 68.06 -3.51 -55.9% View
Q3 2020 59.40 -0.26 -56.5% View
Q2 2020 79.96 0.32 -45.6% View
Q1 2020 121.56 1.24 -9.7% View