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Side-by-side financial comparison of First Foundation Inc. (FFWM) and Firefly Aerospace Inc. (FLY). Click either name above to swap in a different company.
First Foundation Inc. is the larger business by last-quarter revenue ($48.4M vs $30.8M, roughly 1.6× Firefly Aerospace Inc.). First Foundation Inc. runs the higher net margin — -97.9% vs -433.5%, a 335.6% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs 37.6%). First Foundation Inc. produced more free cash flow last quarter ($-35.2M vs $-62.0M).
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
Firefly Aerospace, Inc. (Firefly) is an American aerospace firm based in Cedar Park, Texas. Firefly develops small- and medium-lift launch vehicles for commercial launches to orbit. Firefly's stated purpose is to increase access to space, similar to other private spaceflight companies.
FFWM vs FLY — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $30.8M |
| Net Profit | $-8.0M | $-133.4M |
| Gross Margin | — | 27.6% |
| Operating Margin | -97.5% | -202.1% |
| Net Margin | -97.9% | -433.5% |
| Revenue YoY | 421.7% | 37.6% |
| Net Profit YoY | 43.0% | -227.1% |
| EPS (diluted) | $-0.09 | $-1.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $48.4M | — | ||
| Q3 25 | $63.6M | $30.8M | ||
| Q2 25 | $51.4M | $15.5M | ||
| Q1 25 | $71.4M | — | ||
| Q4 24 | $9.3M | — | ||
| Q3 24 | $9.2M | $22.4M | ||
| Q2 24 | $57.5M | $21.1M | ||
| Q1 24 | $51.1M | — |
| Q4 25 | $-8.0M | — | ||
| Q3 25 | $-146.3M | $-133.4M | ||
| Q2 25 | $-7.7M | $-63.8M | ||
| Q1 25 | $6.9M | — | ||
| Q4 24 | $-14.1M | — | ||
| Q3 24 | $-82.2M | $-40.8M | ||
| Q2 24 | $3.1M | $-53.5M | ||
| Q1 24 | $793.0K | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 27.6% | ||
| Q2 25 | — | 25.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 34.7% | ||
| Q2 24 | — | 14.0% | ||
| Q1 24 | — | — |
| Q4 25 | -97.5% | — | ||
| Q3 25 | -92.7% | -202.1% | ||
| Q2 25 | -21.1% | -349.5% | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | -247.7% | — | ||
| Q3 24 | -1276.7% | -152.9% | ||
| Q2 24 | 4.6% | -232.1% | ||
| Q1 24 | -0.2% | — |
| Q4 25 | -97.9% | — | ||
| Q3 25 | -230.1% | -433.5% | ||
| Q2 25 | -15.0% | -410.2% | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | -152.2% | — | ||
| Q3 24 | -896.9% | -182.3% | ||
| Q2 24 | 5.4% | -253.7% | ||
| Q1 24 | 1.6% | — |
| Q4 25 | $-0.09 | — | ||
| Q3 25 | $-1.78 | $-1.50 | ||
| Q2 25 | $-0.09 | $-5.78 | ||
| Q1 25 | $0.08 | — | ||
| Q4 24 | $-0.24 | — | ||
| Q3 24 | $-1.23 | $-3.57 | ||
| Q2 24 | $0.05 | $-4.60 | ||
| Q1 24 | $0.01 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $995.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $912.6M | $948.8M |
| Total Assets | $11.9B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.7B | $995.2M | ||
| Q2 25 | $1.1B | $205.3M | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | $26.4M | ||
| Q2 24 | $1.4B | $21.9M | ||
| Q1 24 | $1.6B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $136.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $912.6M | — | ||
| Q3 25 | $917.9M | $948.8M | ||
| Q2 25 | $1.1B | $-918.0M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $-665.5M | ||
| Q2 24 | $933.2M | $-620.0M | ||
| Q1 24 | $928.7M | — |
| Q4 25 | $11.9B | — | ||
| Q3 25 | $11.9B | $1.3B | ||
| Q2 25 | $11.6B | $466.8M | ||
| Q1 25 | $12.6B | — | ||
| Q4 24 | $12.6B | — | ||
| Q3 24 | $13.4B | — | ||
| Q2 24 | $13.7B | — | ||
| Q1 24 | $13.6B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-31.9M | $-53.0M |
| Free Cash FlowOCF − Capex | $-35.2M | $-62.0M |
| FCF MarginFCF / Revenue | -72.8% | -201.3% |
| Capex IntensityCapex / Revenue | 6.9% | 29.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.9M | — | ||
| Q3 25 | $9.2M | $-53.0M | ||
| Q2 25 | $-16.3M | — | ||
| Q1 25 | $-552.0K | — | ||
| Q4 24 | $-8.7M | — | ||
| Q3 24 | $14.2M | — | ||
| Q2 24 | $-9.1M | — | ||
| Q1 24 | $7.2M | — |
| Q4 25 | $-35.2M | — | ||
| Q3 25 | $8.6M | $-62.0M | ||
| Q2 25 | $-16.7M | — | ||
| Q1 25 | $-2.5M | — | ||
| Q4 24 | $-11.4M | — | ||
| Q3 24 | $13.4M | — | ||
| Q2 24 | $-9.4M | — | ||
| Q1 24 | $5.9M | — |
| Q4 25 | -72.8% | — | ||
| Q3 25 | 13.5% | -201.3% | ||
| Q2 25 | -32.4% | — | ||
| Q1 25 | -3.5% | — | ||
| Q4 24 | -123.5% | — | ||
| Q3 24 | 146.2% | — | ||
| Q2 24 | -16.3% | — | ||
| Q1 24 | 11.6% | — |
| Q4 25 | 6.9% | — | ||
| Q3 25 | 1.0% | 29.0% | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -2.96× | — | ||
| Q1 24 | 9.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFWM
Segment breakdown not available.
FLY
| Spacecraft Solutions Revenue | $21.4M | 69% |
| Launch Revenue | $9.4M | 31% |
