vs
Side-by-side financial comparison of Firefly Aerospace Inc. (FLY) and GERON CORP (GERN). Click either name above to swap in a different company.
GERON CORP is the larger business by last-quarter revenue ($47.2M vs $30.8M, roughly 1.5× Firefly Aerospace Inc.). GERON CORP runs the higher net margin — -39.0% vs -433.5%, a 394.4% gap on every dollar of revenue. On growth, GERON CORP posted the faster year-over-year revenue change (67.1% vs 37.6%).
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.
Geron Corporation is a biotechnology company located in Foster City, California which specializes in developing and commercializing therapeutic products for cancer that inhibit telomerase.
FLY vs GERN — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.8M | $47.2M |
| Net Profit | $-133.4M | $-18.4M |
| Gross Margin | 27.6% | — |
| Operating Margin | -202.1% | -29.4% |
| Net Margin | -433.5% | -39.0% |
| Revenue YoY | 37.6% | 67.1% |
| Net Profit YoY | -227.1% | 30.3% |
| EPS (diluted) | $-1.50 | $-0.03 |
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.
| Q3 25 | $30.8M | $47.2M | ||
| Q2 25 | $15.5M | $49.0M | ||
| Q1 25 | — | $39.6M | ||
| Q3 24 | $22.4M | $28.3M | ||
| Q2 24 | $21.1M | $882.0K | ||
| Q1 24 | — | $304.0K | ||
| Q4 23 | — | $23.0K | ||
| Q3 23 | — | $164.0K |
| Q3 25 | $-133.4M | $-18.4M | ||
| Q2 25 | $-63.8M | $-16.4M | ||
| Q1 25 | — | $-19.8M | ||
| Q3 24 | $-40.8M | $-26.4M | ||
| Q2 24 | $-53.5M | $-67.4M | ||
| Q1 24 | — | $-55.4M | ||
| Q4 23 | — | — | ||
| Q3 23 | — | $-44.8M |
| Q3 25 | 27.6% | — | ||
| Q2 25 | 25.7% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 34.7% | — | ||
| Q2 24 | 14.0% | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | -202.1% | -29.4% | ||
| Q2 25 | -349.5% | -25.4% | ||
| Q1 25 | — | -42.2% | ||
| Q3 24 | -152.9% | -99.8% | ||
| Q2 24 | -232.1% | -7860.9% | ||
| Q1 24 | — | -18465.1% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | -29031.7% |
| Q3 25 | -433.5% | -39.0% | ||
| Q2 25 | -410.2% | -33.4% | ||
| Q1 25 | — | -50.1% | ||
| Q3 24 | -182.3% | -93.5% | ||
| Q2 24 | -253.7% | -7639.8% | ||
| Q1 24 | — | -18220.4% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | -27320.1% |
| Q3 25 | $-1.50 | $-0.03 | ||
| Q2 25 | $-5.78 | $-0.02 | ||
| Q1 25 | — | $-0.03 | ||
| Q3 24 | $-3.57 | $-0.04 | ||
| Q2 24 | $-4.60 | $-0.10 | ||
| Q1 24 | — | $-0.09 | ||
| Q4 23 | — | — | ||
| Q3 23 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $995.2M | $78.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $948.8M | $248.7M |
| Total Assets | $1.3B | $567.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $995.2M | $78.1M | ||
| Q2 25 | $205.3M | $77.7M | ||
| Q1 25 | — | $83.7M | ||
| Q3 24 | $26.4M | $60.3M | ||
| Q2 24 | $21.9M | $116.9M | ||
| Q1 24 | — | $189.8M | ||
| Q4 23 | — | $70.0M | ||
| Q3 23 | — | $30.7M |
| Q3 25 | — | — | ||
| Q2 25 | $136.1M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | $948.8M | $248.7M | ||
| Q2 25 | $-918.0M | $259.5M | ||
| Q1 25 | — | $268.2M | ||
| Q3 24 | $-665.5M | $292.3M | ||
| Q2 24 | $-620.0M | $306.7M | ||
| Q1 24 | — | $344.9M | ||
| Q4 23 | — | $247.9M | ||
| Q3 23 | — | $290.6M |
| Q3 25 | $1.3B | $567.4M | ||
| Q2 25 | $466.8M | $555.2M | ||
| Q1 25 | — | $562.5M | ||
| Q3 24 | — | $444.9M | ||
| Q2 24 | — | $449.4M | ||
| Q1 24 | — | $482.1M | ||
| Q4 23 | — | $394.1M | ||
| Q3 23 | — | $413.0M |
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 | $-53.0M | $-13.6M |
| Free Cash FlowOCF − Capex | $-62.0M | — |
| FCF MarginFCF / Revenue | -201.3% | — |
| Capex IntensityCapex / Revenue | 29.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-53.0M | $-13.6M | ||
| Q2 25 | — | $-27.4M | ||
| Q1 25 | — | $-48.0M | ||
| Q3 24 | — | $-58.9M | ||
| Q2 24 | — | $-53.5M | ||
| Q1 24 | — | $-62.3M | ||
| Q4 23 | — | $-167.7M | ||
| Q3 23 | — | $-50.8M |
| Q3 25 | $-62.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-53.7M | ||
| Q1 24 | — | $-62.9M | ||
| Q4 23 | — | $-168.6M | ||
| Q3 23 | — | $-51.0M |
| Q3 25 | -201.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -6086.6% | ||
| Q1 24 | — | -20680.3% | ||
| Q4 23 | — | -732926.1% | ||
| Q3 23 | — | -31116.5% |
| Q3 25 | 29.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 23.4% | ||
| Q1 24 | — | 202.3% | ||
| Q4 23 | — | 3608.7% | ||
| Q3 23 | — | 117.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLY
| Spacecraft Solutions Revenue | $21.4M | 69% |
| Launch Revenue | $9.4M | 31% |
GERN
Segment breakdown not available.
