Firefly Aerospace Inc. balance sheet

At the end of fiscal 2025, Firefly Aerospace Inc. had total assets of $1.82bn, total liabilities of $635m and shareholders' equity of $1.19bn. It held $793m in cash against $289m of debt: net cash of $504m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Firefly Aerospace Inc.: balance sheet, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	82	123	793	460
Receivables	—	1	46	58
Total current assets	—	181	963	799
Goodwill	17	17	450	467
Total assets	—	407	1,825	1,639
Accounts payable	—	38	36	58
Deferred revenue (current)	—	108	116	151
Total current liabilities	—	179	214	293
Short-term debt	—	6	7	7
Long-term debt	—	113	281	20
Total debt	0	171	289	27
Total liabilities	—	415	635	416
Shareholders' equity	−504	−768	1,190	1,223
Non-controlling interests and other (assets − liabilities − equity)	—	760	—	—
Net debt (negative = net cash)	−82	47	−504	−433
Shares outstanding	—	13m	—	166m

US$ millions unless shown otherwise. Fiscal quarters.

Firefly Aerospace Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	—	1	—	6	5	46	45	58
Total current assets	—	181	—	234	1,023	963	674	799
Goodwill	—	17	—	17	17	450	453	467
Total assets	—	407	—	467	1,256	1,825	1,492	1,639
Accounts payable	—	38	—	33	30	36	41	58
Deferred revenue (current)	—	108	—	83	95	116	146	151
Total current liabilities	—	179	—	147	165	214	266	293
Short-term debt	—	6	—	—	—	7	7	7
Long-term debt	—	113	—	136	23	281	20	20
Total debt	—	119	—	136	23	289	27	27
Total liabilities	—	415	—	411	307	635	387	416
Shareholders' equity	−665	−768	−839	−918	949	1,190	1,105	1,223
Non-controlling interests and other (assets − liabilities − equity)	—	760	—	973	—	—	—	—
Shares outstanding	—	13m	—	14m	148m	159m	160m	166m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Firefly Aerospace Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Firefly Aerospace Inc.