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Firefly Aerospace vs Voyager Technologies: FLY and VOYG compared
Firefly Aerospace is the larger company: $118M of revenue in its latest quarter (Q2 2026) against $88.7M for Voyager Technologies (Q3 2026). Firefly Aerospace is growing faster (+657% against +124% a year earlier). Voyager Technologies is more profitable, with an operating margin of -69.8% against -80.9%.
Where the money goes: FLY and VOYG
Firefly Aerospace (FLY) · Q2 2026
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.
Voyager Technologies (VOYG) · Q3 2026
Voyager Technologies, Q3 2026: revenue $88.7M (+124% year over year), operating margin -69.8%, net loss $58.4M, operating cash flow −$29.7M. The chart follows the revenue to costs, profit and cash.
| Firefly Aerospace (FLY) | Voyager Technologies (VOYG) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $118M | $88.7M |
| Revenue growth, Y/Y | +657% | +124% |
| Operating margin | -80.9% | -69.8% |
| Net earnings | −$92.3M | −$58.4M |
| Net margin | -78.4% | -65.8% |
| Operating cash flow | −$81.6M | −$29.7M |
Where the revenue comes from
Firefly Aerospace
- Spacecraft Solutions Revenue: $108M (92%)
- Launch Revenue: $9.4M (8%)
Questions
Which is bigger, Firefly Aerospace or Voyager Technologies?
Firefly Aerospace is the larger company: $118M of revenue in its latest quarter (Q2 2026) against $88.7M for Voyager Technologies (Q3 2026).
Is Firefly Aerospace or Voyager Technologies growing faster?
Firefly Aerospace is growing faster (+657% against +124% a year earlier).
Which is more profitable, Firefly Aerospace or Voyager Technologies?
Voyager Technologies is more profitable, with an operating margin of -69.8% against -80.9%.
More: Firefly Aerospace earnings · how Firefly Aerospace makes money · Voyager Technologies earnings · how Voyager Technologies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.