Firefly Aerospace Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-333.96	-265.81	-156.27
Depreciation & Amortization	23.16	12.55	4.71
Loss (Gain) From Sale of Assets	-0.01	1.74	-0
Stock-Based Compensation	17.84	1.84	1.61
Other Operating Activities	84.39	46.41	23.12
Change in Accounts Receivable	0.64	1.7	-1.04
Change in Accounts Payable	-17.21	6.99	10.77
Change in Unearned Revenue	52.96	30.82	53.24
Change in Other Net Operating Assets	-32.73	6.12	-29.57
Operating Cash Flow	-204.92	-157.65	-93.43
Capital Expenditures	-32.83	-32.7	-77.25
Sale of Property, Plant & Equipment	0.28	-	-
Cash Acquisitions	-277.42	-	7.25
Investment in Securities	-91.6	-	-
Investing Cash Flow	-401.56	-32.7	-69.99
Long-Term Debt Issued	260	48.99	122.86
Long-Term Debt Repaid	-155.72	-3.8	-2.72
Net Debt Issued (Repaid)	104.28	45.19	120.14
Issuance of Common Stock	946.52	0.83	0.87
Preferred Dividends Paid	-4.99	-	-
Dividends Paid	-4.99	-	-
Other Financing Activities	-15.92	-2.3	-30.1
Financing Cash Flow	1,262	232.76	240.73
Net Cash Flow	655.41	42.41	77.3
Free Cash Flow	-237.75	-190.35	-170.68
Free Cash Flow Margin	-148.73%	-313.11%	-309.01%
Free Cash Flow Per Share	-3.44	-14.85	-14.25
Cash Interest Paid	16.49	21.13	12.58
Levered Free Cash Flow	-146.13	-136.35	-
Unlevered Free Cash Flow	-110.39	-100.33	-
Change in Working Capital	3.67	45.63	33.4

Source: S&P Capital IQ. Standard template. Financial Sources.