Firefly Aerospace logged a wider loss and lower revenue in its latest quarter, marking its first earnings report since its stock market debut last month.
The space and defense technology company on Monday posted a loss of $80.3 million, or $5.78 a share, compared with a loss of $58.7 million, or $4.60 a share, a year earlier.
Revenue fell to $15.5 million compared with $21.1 million a year ago. Analysts polled by FactSet expected $16.8 million.
Chief Executive Jason Kim said the results reflect Firefly’s steady progress across its launch and spacecraft products.
The company is ramping its flight cadence and has several vehicles in production to meet strong demand for launch services, especially for national security missions, he said.
For the full year, the company guided for revenue between $133 million and $145 million. Analysts polled by FactSet expect $138.5 million.
Shares fell 11%, to $43.96, in premarket trading, after closing up 9.6% in the regular session.
The company’s shares made their debut on the Nasdaq last month, closing up at $60.35 in their first day of trading from an initial public offering price of $45.
Earlier this year, Firefly successfully guided its Blue Ghost lander to the moon’s surface in a NASA-funded mission, carrying scientific gear to research moondust and ground temperatures. The mission marked the first fully successful commercial moon landing.
The company earlier on Monday said it has received a $10 million addendum to its NASA contract for additional science and operational data collected beyond the initial requirements of the contract for the Blue Ghost mission.
