Filing Flows › Firefly Aerospace (FLY) › Q2 2026
Firefly Aerospace (FLY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 11, 2026
Firefly Aerospace (FLY) reported revenue of $118M for the second quarter 2026 (Q2 2026), +657% from a year earlier and +46% from the quarter before. Operating margin was -80.9%, net loss $92.3M (78.4% of revenue).
Firefly Aerospace, Q2 2026: revenue $118M (+657% year over year), operating margin -80.9%, net loss $92.3M, operating cash flow −$81.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $118M | +46% | +657% |
| Operating profit | −$95.2M | — | — |
| Net earnings | −$92.3M | — | — |
| Operating cash flow | −$81.6M | — | — |
What changed
Revenue was $117.7M in Q2 2026, up 657% year over year and up 46% from the previous quarter. Spacecraft Solutions Revenue was the largest line at 92% of revenue. Spacecraft Solutions Revenue added $99.1M year over year (up 1077%), 97% of the total change.
Gross margin was 20.3%, down 5.4 points from Q2 2025. Operating costs exceeded revenue by $95.2M, an operating margin of -80.9%. Operating expenses grew 104% against revenue growth of 657%. The fastest-growing cost line was SG&A (+278%). The quarter ended with a net loss of $92.3M, narrower than the previous quarter's $96.7M loss.
Operating cash flow was −$81.6M. Non-cash charges added back $14.0M of depreciation and amortization and $17.0M of share-based compensation. Working capital and other items used $20.2M. Capital expenditures of $24.7M exceeded it, leaving free cash flow of −$106.3M.
Questions
What was Firefly Aerospace's revenue in the second quarter 2026?
Firefly Aerospace (FLY) reported revenue of $118M for the second quarter 2026 (Q2 2026), +657% from a year earlier and +46% from the quarter before.
Was Firefly Aerospace profitable in the second quarter 2026?
Operating loss was $95.2M (-80.9% of revenue) and net loss $92.3M.
Source: Firefly Aerospace 10-Q on SEC EDGAR.