/ Pre-IPO Risk Index / Firefly Aerospace

Firefly Aerospace

Space (Launch) · Pre-IPO · $2B (Q3 2024)
C+

Mixed (C+) — Round Z Pre-IPO Risk Grade

Firefly Aerospace operates the Alpha small-launch vehicle and Blue Ghost lunar lander program. Multiple successful Alpha launches; Blue Ghost first lunar landing 2024. AE Industrial Partners majority ownership produces concentrated governance.

68
Composite / 100
/ Subscore Breakdown · 5 Dimensions

Where this grade comes from.

Governance Risk
C+
Valuation Methodology
C+
Secondary Liquidity
C
Financial Disclosure
B-
Exit Probability
B-
/ Public-Record Events

Key risk events & disclosures.

  • Multiple successful Alpha launches 2022-2024
  • Blue Ghost 1 lunar lander first landing 2024
  • NASA Commercial Lunar Payload Services (CLPS) program participant
  • AE Industrial Partners majority ownership

/ Best for

Investors seeking launch-and-lunar exposure with NASA CLPS program participation and demonstrated lunar landing track record.

/ Watch out for

AE Industrial Partners majority ownership produces concentrated governance; minority shareholder protections require careful review.