Firefly Aerospace, Inc. Securities Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against Firefly Aerospace, Inc. (FLY)

If you purchased or acquired Firefly Aerospace, Inc. securities and suffered losses, you may be eligible to join this securities investigation and seek compensation.

About Firefly Aerospace

Firefly Aerospace is a space technology company that recently made headlines with its initial public offering (IPO) on the Nasdaq. The company raised $868 million in an upsized IPO, priced at $45 per share on August 6 and opened near $70 when trading began on August 7, 2025.

The company’s IPO prospectus and media coverage highlighted rapid revenue growth, a $1.1 billion backlog, and over 30 planned launches under contract.

Potential Concerns Under Investigation

Lawyers are investigating whether Firefly Aerospace and its executives may have made misleading statements or failed to disclose key information to investors during the period between early-August 2025, and late-September 2025. One area of focus is whether the company’s IPO registration statement and subsequent public statements accurately reflected the company’s financial health and operational challenges.

During its IPO and in the weeks following, Firefly Aerospace and its leadership allegedly highlighted rapid revenue growth and a strong contract backlog, stating, for example, “Firefly’s revenue has surged to $71M in the first half of 2025, more than doubling from the previous year, backed by a $1.1 billion backlog." The company’s S-1 filing also emphasized a “$1.1 billion” backlog and over 30 planned launches as evidence of future growth. However, lawyers may examine whether these statements omitted material facts, such as a significant revenue decline and rising operating expenses by the second quarter of 2025.

On September 22, 2025, after the market closed, Firefly Aerospace issued its first post-IPO earnings report, disclosing second-quarter 2025 revenue of $15.55 million, a 26 percent decline from $21.07 million in the same quarter the prior year. At the same time, total operating expenses rose 12.5 percent to $58.35 million from $51.85 million a year earlier. This announcement, which was headlined “Second Quarter 2025 Financial Results After Historic IPO,” was the first public indication of a serious performance miss.

The following trading day, September 23, 2025, Firefly Aerospace’s stock fell $7.58 per share, or 15.3 percent, closing at $41.94. The drop erased approximately $146 million in market capitalization and represented a roughly 17% loss for investors who bought at the $45 IPO price.

Notably, this decline occurred while broader market indices were reaching record highs, indicating that the loss may have been specific to Firefly Aerospace and not due to overall market or sector trends.

Legal professionals may also review whether Firefly Aerospace adequately disclosed operational setbacks, such as the April 2025 Alpha rocket failure that resulted in the loss of a Lockheed Martin payload. Public sources indicate that four out of six launches had failed by August 2025, yet neither the IPO filing nor subsequent statements appear to have addressed these issues. Attorneys could investigate if the company’s focus on positive developments, such as new NASA contracts and a “historic” lunar mission, misled investors by omitting material setbacks.

Statements from executives, such as CEO Jason Kim describing the quarter as “steady progress,” may be scrutinized in light of the 27% revenue decline reported in the same period. Lawyers may examine whether such statements were misleading given the company’s actual performance.

Potential damages to investors are significant, with estimates suggesting a per-share loss of $7.58 and class-wide losses reaching into the hundreds of millions of dollars.

Your Rights and Next Steps

This is an active investigation into whether Firefly Aerospace, Inc. and its executives may have violated federal securities laws by making misleading statements or failing to disclose material information to investors. If you purchased Firefly Aerospace securities between early August 2025, and late-September 2025, and suffered losses, you may have the right to participate in any future class action lawsuit that could arise from this investigation.

Investors are encouraged to gather documentation of their purchases, sales, and account statements during the relevant period. Lawyers are ready to help evaluate your potential claims and can guide you through the process if a class action is filed. The investigation may lead to a lawsuit seeking to recover losses for affected investors, but no lawsuit has been filed at this stage.

You May Be Entitled to Compensation

Securities investigations are time-sensitive, and it is important for investors to act quickly if they wish to protect their rights. If you purchased Firefly Aerospace securities and suffered losses, you may be eligible to join any potential class action and seek compensation for your losses.

To take the next step, complete the form below to join the investigation.