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Side-by-side financial comparison of Firefly Aerospace Inc. (FLY) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
Firefly Aerospace Inc. is the larger business by last-quarter revenue ($30.8M vs $18.3M, roughly 1.7× ROCKWELL MEDICAL, INC.). ROCKWELL MEDICAL, INC. runs the higher net margin — -3.0% vs -433.5%, a 430.4% gap on every dollar of revenue. On growth, Firefly Aerospace Inc. posted the faster year-over-year revenue change (37.6% vs -25.6%). ROCKWELL MEDICAL, INC. produced more free cash flow last quarter ($2.2M vs $-62.0M).
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.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
FLY vs RMTI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.8M | $18.3M |
| Net Profit | $-133.4M | $-554.0K |
| Gross Margin | 27.6% | 21.1% |
| Operating Margin | -202.1% | -2.2% |
| Net Margin | -433.5% | -3.0% |
| Revenue YoY | 37.6% | -25.6% |
| Net Profit YoY | -227.1% | 26.7% |
| EPS (diluted) | $-1.50 | $-0.01 |
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 | — | $18.3M | ||
| Q3 25 | $30.8M | $15.9M | ||
| Q2 25 | $15.5M | $16.1M | ||
| Q1 25 | — | $18.9M | ||
| Q4 24 | — | $24.7M | ||
| Q3 24 | $22.4M | $28.3M | ||
| Q2 24 | $21.1M | $25.8M | ||
| Q1 24 | — | $22.7M |
| Q4 25 | — | $-554.0K | ||
| Q3 25 | $-133.4M | $-1.8M | ||
| Q2 25 | $-63.8M | $-1.5M | ||
| Q1 25 | — | $-1.5M | ||
| Q4 24 | — | $-756.0K | ||
| Q3 24 | $-40.8M | $1.7M | ||
| Q2 24 | $-53.5M | $343.0K | ||
| Q1 24 | — | $-1.7M |
| Q4 25 | — | 21.1% | ||
| Q3 25 | 27.6% | 14.3% | ||
| Q2 25 | 25.7% | 15.6% | ||
| Q1 25 | — | 16.1% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 34.7% | 22.0% | ||
| Q2 24 | 14.0% | 17.6% | ||
| Q1 24 | — | 13.5% |
| Q4 25 | — | -2.2% | ||
| Q3 25 | -202.1% | -9.9% | ||
| Q2 25 | -349.5% | -8.4% | ||
| Q1 25 | — | -7.2% | ||
| Q4 24 | — | -2.1% | ||
| Q3 24 | -152.9% | 6.8% | ||
| Q2 24 | -232.1% | 2.0% | ||
| Q1 24 | — | -5.8% |
| Q4 25 | — | -3.0% | ||
| Q3 25 | -433.5% | -11.0% | ||
| Q2 25 | -410.2% | -9.3% | ||
| Q1 25 | — | -8.0% | ||
| Q4 24 | — | -3.1% | ||
| Q3 24 | -182.3% | 5.9% | ||
| Q2 24 | -253.7% | 1.3% | ||
| Q1 24 | — | -7.6% |
| Q4 25 | — | $-0.01 | ||
| Q3 25 | $-1.50 | $-0.05 | ||
| Q2 25 | $-5.78 | $-0.05 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | $-3.57 | $0.04 | ||
| Q2 24 | $-4.60 | $0.01 | ||
| Q1 24 | — | $-0.06 |
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 | $10.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $948.8M | $37.0M |
| Total Assets | $1.3B | $57.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $10.7M | ||
| Q3 25 | $995.2M | $13.6M | ||
| Q2 25 | $205.3M | $12.5M | ||
| Q1 25 | — | $11.4M | ||
| Q4 24 | — | $15.7M | ||
| Q3 24 | $26.4M | $12.3M | ||
| Q2 24 | $21.9M | $11.9M | ||
| Q1 24 | — | $6.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $136.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $37.0M | ||
| Q3 25 | $948.8M | $37.0M | ||
| Q2 25 | $-918.0M | $30.4M | ||
| Q1 25 | — | $31.5M | ||
| Q4 24 | — | $32.6M | ||
| Q3 24 | $-665.5M | $29.1M | ||
| Q2 24 | $-620.0M | $23.5M | ||
| Q1 24 | — | $20.6M |
| Q4 25 | — | $57.1M | ||
| Q3 25 | $1.3B | $57.5M | ||
| Q2 25 | $466.8M | $52.6M | ||
| Q1 25 | — | $54.0M | ||
| Q4 24 | — | $59.2M | ||
| Q3 24 | — | $57.1M | ||
| Q2 24 | — | $53.0M | ||
| Q1 24 | — | $50.7M |
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 | $2.3M |
| Free Cash FlowOCF − Capex | $-62.0M | $2.2M |
| FCF MarginFCF / Revenue | -201.3% | 12.0% |
| Capex IntensityCapex / Revenue | 29.0% | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.3M | ||
| Q3 25 | $-53.0M | $-1.3M | ||
| Q2 25 | — | $1.8M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $865.0K | ||
| Q3 24 | — | $4.3M | ||
| Q2 24 | — | $1.4M | ||
| Q1 24 | — | $-2.4M |
| Q4 25 | — | $2.2M | ||
| Q3 25 | $-62.0M | $-1.5M | ||
| Q2 25 | — | $1.7M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $470.0K | ||
| Q3 24 | — | $4.1M | ||
| Q2 24 | — | $1.2M | ||
| Q1 24 | — | $-2.5M |
| Q4 25 | — | 12.0% | ||
| Q3 25 | -201.3% | -9.6% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | -18.8% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 4.5% | ||
| Q1 24 | — | -11.1% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 29.0% | 1.4% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 0.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | — | 4.20× | ||
| Q1 24 | — | — |
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% |
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
