Firefly Aerospace is a space and defense technology company that designs, builds, and operates launch vehicles, spacecraft, and defense software, primarily serving U.S. national security agencies and defense primes. Firefly's core launch product is the Alpha rocket, a small-lift vehicle capable of carrying roughly 1,000 kg to orbit, sold on a dedicated-launch basis that gives customers mission-specific orbital access. Alpha has completed seven launches and holds over 30 missions under contract, with a notable niche in tactically responsive launches for the USSF. Firefly is co-developing Eclipse, a medium-lift reusable vehicle targeting ~16,000 kg to LEO, with Northrop Grumman. On the spacecraft side, Blue Ghost is Firefly's lunar lander, which completed the first fully successful commercial Moon landing in March 2025, and is contracted for at least three additional NASA CLPS missions. Elytra is a maneuverable multi-orbit spacecraft being developed for space domain awareness, satellite delivery, and on-orbit support. Firefly acquired SciTec in October 2025, adding AI-enabled defense software for missile warning and space domain awareness, including as prime software developer on the USSF's FORGE missile warning program. Revenue from launches is recognized at the point of flight, making it lumpy by cadence, while spacecraft and software contracts use percentage-of-completion accounting. Firefly collects roughly 90% of contract value before launch, supporting favorable cash flow. Firefly went public in August 2025, raising ~$1B in gross IPO proceeds.