Firefly reports $1.3B backlog, $551.6M liquidity; Q1 loss widens 61% to $96.7M

Filed May 4, 2026 · Period ending March 31, 2026 · ~2 min read

Key Changes

• high

  $1.3 billion contracted backlog as of March 31, 2026, with ~90% of contract value collected before launch, providing forward revenue visibility and working capital support during production ramp.

  MD&A: Backlog verify on EDGAR →
• high

  Q1 2026 net loss of $96.7M vs. $60.1M in Q1 2025 (61% increase); operating cash outflow of $62.5M and negative free cash flow of $78.9M reflect continued investment phase as company scales operations.

  MD&A: Financial Results verify on EDGAR →
• high

  Strong liquidity position with $551.6M in cash and short-term investments, minimal debt of $26.8M, and undrawn $305M revolving credit facility; management states adequate for at least 12 months.

  MD&A: Liquidity verify on EDGAR →