Firefly Aerospace Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
FLY$23.70-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolid ated Statements of Cash Flows
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(257,283) | $(147,014) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 13,539 | 6,510 |
| Loss on sale of fixed assets | — | 1,824 |
| Stock-based compensation | 5,191 | 1,296 |
| Change in fair value of warrant liability | 47,257 | 479 |
| Loss on extinguishment of debt | 30,400 | — |
| Non-cash interest expense | 4,595 | 5,790 |
| Non-cash inventory write-off | — | 247 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (4,123) | (3,055) |
| Advanced payments | 34,550 | (17,205) |
| Other assets | (996) | 5,460 |
| Accounts payable | (5,300) | 10,956 |
| Accounts payable - related parties | 704 | (1,312) |
| Accrued expenses | (5,035) | (5,941) |
| Other liabilities | (11,812) | 19,334 |
| Right-of-use assets | 1,549 | 2,562 |
| Lease liabilities | (6,646) | (3,616) |
| Deferred revenue | 15,745 | 6,292 |
| Net cash used in operating activities | $(137,665) | $(117,393) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (20,757) | (30,041) |
| Net cash used in investing activities | $(20,757) | $(30,041) |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock | 943,736 | — |
| Payments of offering costs associated with IPO | (4,208) | — |
| Proceeds from issuance of Preferred Stock, net | 235,506 | 22,186 |
| Principal payments on finance leases | (1,166) | (595) |
| Proceeds from issuance of notes payable | — | 48,990 |
| Payment of IPO Closing Preferred Stock Dividend | (4,990) | — |
| Proceeds from notes payable - related parties | — | 25,000 |
| Repayment of notes payable - related parties | (21,117) | — |
| Payments on notes payable | (131,457) | (2,181) |
| Payments of debt issuance costs | (2,083) | (2,301) |
| Proceeds from repayment of employee note | 396 | 206 |
| Proceeds from exercise of stock options | 2,238 | 407 |
| Net cash provided by financing activities | $1,016,855 | $91,712 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $858,433 | $(55,722) |
| Cash and cash equivalents and restricted cash | ||
| Balance, beginning of period | 137,558 | 95,146 |
| Balance, end of period | $995,991 | $39,424 |
| Reconciliation of cash and cash equivalents and restricted cash | ||
| Cash and cash equivalents | 995,162 | 26,359 |
| Restricted cash, current | 829 | 1,087 |
| Restricted cash, non-current | — | 11,978 |
| Total cash and cash equivalents and restricted cash at the end of the period | $995,991 | $39,424 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $14,443 | $16,828 |
| Non-cash investing and financing activities | ||
| Property and equipment additions in accounts payable | $1,905 | $170 |
| Capitalized interest (paid in kind) | $683 | $— |
| Issuance of debt in exchange of software licenses | $664 | $— |
| Acquisition of software license assets and obligations | $10,633 | $— |
| Right-of-use asset acquired in exchange for finance lease liabilities | $1,625 | $470 |
| Net exercise of Common Warrants into common stock | $46,060 | $— |
| Unpaid deferred offering costs associated with IPO | $7,195 | $— |
| Preferred Stock issuance costs not yet paid | $3,510 | $— |
| Issuance of common stock to settle Preferred Stock Dividends | $86,124 | $— |
| Conversion of Preferred Stock to common stock upon IPO | $937,087 | $— |
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