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Side-by-side financial comparison of Firefly Aerospace Inc. (FLY) and Orchid Island Capital, Inc. (ORC). Click either name above to swap in a different company.
Orchid Island Capital, Inc. is the larger business by last-quarter revenue ($38.5M vs $30.8M, roughly 1.3× Firefly Aerospace Inc.). Orchid Island Capital, Inc. runs the higher net margin — 268.7% vs -433.5%, a 702.2% gap on every dollar of revenue. On growth, Orchid Island Capital, Inc. posted the faster year-over-year revenue change (372.6% 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.
Orchid Island Capital, Inc. is a U.S.-based specialty finance company operating as a real estate investment trust. It primarily invests in residential mortgage-backed securities, including agency and non-agency products, targeting consistent risk-adjusted returns for its investors across U.S. fixed income markets.
FLY vs ORC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.8M | $38.5M |
| Net Profit | $-133.4M | $103.4M |
| Gross Margin | 27.6% | — |
| Operating Margin | -202.1% | — |
| Net Margin | -433.5% | 268.7% |
| Revenue YoY | 37.6% | 372.6% |
| Net Profit YoY | -227.1% | 1764.9% |
| EPS (diluted) | $-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 | — | $38.5M | ||
| Q3 25 | $30.8M | $26.9M | ||
| Q2 25 | $15.5M | $23.2M | ||
| Q1 25 | — | $19.7M | ||
| Q3 24 | $22.4M | $340.0K | ||
| Q2 24 | $21.1M | $-697.0K | ||
| Q1 24 | — | $-2.5M | ||
| Q4 22 | — | $2.4M |
| Q4 25 | — | $103.4M | ||
| Q3 25 | $-133.4M | $72.1M | ||
| Q2 25 | $-63.8M | $-33.6M | ||
| Q1 25 | — | $17.1M | ||
| Q3 24 | $-40.8M | $17.3M | ||
| Q2 24 | $-53.5M | $-5.0M | ||
| Q1 24 | — | $19.8M | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 27.6% | — | ||
| Q2 25 | 25.7% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 34.7% | — | ||
| Q2 24 | 14.0% | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -202.1% | — | ||
| Q2 25 | -349.5% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | -152.9% | — | ||
| Q2 24 | -232.1% | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | 268.7% | ||
| Q3 25 | -433.5% | 267.8% | ||
| Q2 25 | -410.2% | -145.0% | ||
| Q1 25 | — | 86.9% | ||
| Q3 24 | -182.3% | 5094.1% | ||
| Q2 24 | -253.7% | 714.3% | ||
| Q1 24 | — | -794.2% | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | $-1.50 | — | ||
| Q2 25 | $-5.78 | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $-3.57 | — | ||
| Q2 24 | $-4.60 | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
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 | $665.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $948.8M | $1.4B |
| Total Assets | $1.3B | $11.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $665.9M | ||
| Q3 25 | $995.2M | $583.9M | ||
| Q2 25 | $205.3M | $440.8M | ||
| Q1 25 | — | $396.4M | ||
| Q3 24 | $26.4M | $322.1M | ||
| Q2 24 | $21.9M | $241.0M | ||
| Q1 24 | — | $190.4M | ||
| Q4 22 | — | $205.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $136.1M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $948.8M | $1.1B | ||
| Q2 25 | $-918.0M | $912.0M | ||
| Q1 25 | — | $855.9M | ||
| Q3 24 | $-665.5M | $656.0M | ||
| Q2 24 | $-620.0M | $555.9M | ||
| Q1 24 | — | $481.6M | ||
| Q4 22 | — | $438.8M |
| Q4 25 | — | $11.7B | ||
| Q3 25 | $1.3B | $9.1B | ||
| Q2 25 | $466.8M | $7.6B | ||
| Q1 25 | — | $7.3B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $4.2B | ||
| Q4 22 | — | $3.9B |
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 | $120.4M |
| Free Cash FlowOCF − Capex | $-62.0M | — |
| FCF MarginFCF / Revenue | -201.3% | — |
| Capex IntensityCapex / Revenue | 29.0% | — |
| Cash ConversionOCF / Net Profit | — | 1.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $120.4M | ||
| Q3 25 | $-53.0M | $28.0M | ||
| Q2 25 | — | $18.4M | ||
| Q1 25 | — | $25.8M | ||
| Q3 24 | — | $-14.8M | ||
| Q2 24 | — | $19.3M | ||
| Q1 24 | — | $45.0M | ||
| Q4 22 | — | $289.4M |
| Q4 25 | — | — | ||
| Q3 25 | $-62.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -201.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | 1.16× | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.51× | ||
| Q3 24 | — | -0.86× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.28× | ||
| Q4 22 | — | — |
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% |
ORC
Segment breakdown not available.
