Firefly Aerospace anticipates resuming Alpha launches within the "coming weeks," with two missions planned before the year concludes. This update emerged during their September 22nd earnings call, their first since their Nasdaq debut on August 7th. Following a setback on April 29th, Firefly secured Federal Aviation Administration clearance on August 26th to restart Alpha missions.
An investigation attributed the April failure to unexpected aeroheating during the first stage, causing structural damage and preventing orbit. CEO Jason Kim stated on the call, "Firefly is now working to determine the next available launch window for Alpha Flight 7," later adding, "We expect to launch Flight 7 in the coming weeks. We’re working closely with the range and our customer, Lockheed Martin, to share more details on the mission and payload soon.”
Both Alpha rockets for Flight 7 and the subsequent launch are reportedly in a "mature state." Firefly aims to launch both before the end of the year. Lockheed Martin was also the customer for the April mission, involving an LM400 technology demonstration satellite. The aeroheating issue will be addressed through added thermal protection and adjusted angle of attack during specific flight phases. This modification will have a minimal effect on performance, according to Kim.
The company reported $15.5 million in second-quarter revenue and $71.4 million for the first half of the year, with a $47.9 million adjusted EBITDA loss for the second quarter and a $95 million loss year-to-date. CFO Darren Ma projected 2025 revenues between $133 million and $145 million, though they aren't providing guidance on other metrics.
Their recent IPO generated nearly $1 billion, enabling Firefly to repay a $148.1 million loan and maintain approximately $1 billion in cash. Kim noted the funds would boost growth, increasing Alpha production, finalizing the Eclipse rocket, and advancing the Elytra spacecraft and Blue Ghost lunar lander. Additionally, Firefly secured an extra $10 million from NASA for its Blue Ghost 1 mission, enhancing data and imagery from the lunar landing in March. Kim also hinted at potential mergers and acquisitions, emphasizing the need for strategic alignment.