In its IPO filings last month, Firefly reported $60.79 million in revenue for 2024, up from $55.24 million in 2023. The company appears on track to surpass those figures, reporting $55.86 million in revenue in the first quarter of 2025 alone.

Northrop Grumman-backed Firefly Aerospace raised the proposed price range for its U.S. initial public offering on Monday and is now targeting a valuation of up to $6.04 billion in its U.S. listing, underscoring investor interest in space-related ventures.

The latest valuation comes after the company, which manufactures lunar landers and rockets, said in a regulatory filing that it expects to price shares in its IPO between $41 and $43 apiece. The price range values Firefly Aerospace at $6 billion and will raise nearly $700 million for the company at the top end of the range.