vs
Side-by-side financial comparison of Firefly Aerospace Inc. (FLY) and RHYTHM PHARMACEUTICALS, INC. (RYTM). Click either name above to swap in a different company.
RHYTHM PHARMACEUTICALS, INC. is the larger business by last-quarter revenue ($57.3M vs $30.8M, roughly 1.9× Firefly Aerospace Inc.). RHYTHM PHARMACEUTICALS, INC. runs the higher net margin — -83.0% vs -433.5%, a 350.5% gap on every dollar of revenue. On growth, Firefly Aerospace Inc. posted the faster year-over-year revenue change (37.6% vs 36.9%).
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.
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
FLY vs RYTM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.8M | $57.3M |
| Net Profit | $-133.4M | $-47.5M |
| Gross Margin | 27.6% | 91.6% |
| Operating Margin | -202.1% | -82.2% |
| Net Margin | -433.5% | -83.0% |
| Revenue YoY | 37.6% | 36.9% |
| Net Profit YoY | -227.1% | -9.6% |
| EPS (diluted) | $-1.50 | $-0.73 |
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 | — | $57.3M | ||
| Q3 25 | $30.8M | $51.3M | ||
| Q2 25 | $15.5M | $48.5M | ||
| Q1 25 | — | $32.7M | ||
| Q4 24 | — | $41.8M | ||
| Q3 24 | $22.4M | $33.3M | ||
| Q2 24 | $21.1M | $29.1M | ||
| Q1 24 | — | $26.0M |
| Q4 25 | — | $-47.5M | ||
| Q3 25 | $-133.4M | $-52.9M | ||
| Q2 25 | $-63.8M | $-46.6M | ||
| Q1 25 | — | $-49.5M | ||
| Q4 24 | — | $-43.3M | ||
| Q3 24 | $-40.8M | $-43.6M | ||
| Q2 24 | $-53.5M | $-32.3M | ||
| Q1 24 | — | $-141.4M |
| Q4 25 | — | 91.6% | ||
| Q3 25 | 27.6% | 89.3% | ||
| Q2 25 | 25.7% | 88.6% | ||
| Q1 25 | — | 88.8% | ||
| Q4 24 | — | 90.9% | ||
| Q3 24 | 34.7% | 88.5% | ||
| Q2 24 | 14.0% | 89.9% | ||
| Q1 24 | — | 89.2% |
| Q4 25 | — | -82.2% | ||
| Q3 25 | -202.1% | -102.6% | ||
| Q2 25 | -349.5% | -93.4% | ||
| Q1 25 | — | -143.7% | ||
| Q4 24 | — | -98.6% | ||
| Q3 24 | -152.9% | -132.0% | ||
| Q2 24 | -232.1% | -139.2% | ||
| Q1 24 | — | -538.7% |
| Q4 25 | — | -83.0% | ||
| Q3 25 | -433.5% | -103.1% | ||
| Q2 25 | -410.2% | -96.1% | ||
| Q1 25 | — | -151.4% | ||
| Q4 24 | — | -103.6% | ||
| Q3 24 | -182.3% | -131.2% | ||
| Q2 24 | -253.7% | -110.9% | ||
| Q1 24 | — | -544.4% |
| Q4 25 | — | $-0.73 | ||
| Q3 25 | $-1.50 | $-0.82 | ||
| Q2 25 | $-5.78 | $-0.75 | ||
| Q1 25 | — | $-0.81 | ||
| Q4 24 | — | $-0.71 | ||
| Q3 24 | $-3.57 | $-0.73 | ||
| Q2 24 | $-4.60 | $-0.55 | ||
| Q1 24 | — | $-2.35 |
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 | $388.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $948.8M | $139.1M |
| Total Assets | $1.3B | $480.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $388.9M | ||
| Q3 25 | $995.2M | $416.1M | ||
| Q2 25 | $205.3M | $291.0M | ||
| Q1 25 | — | $314.5M | ||
| Q4 24 | — | $320.6M | ||
| Q3 24 | $26.4M | $298.4M | ||
| Q2 24 | $21.9M | $319.1M | ||
| Q1 24 | — | $201.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $136.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $139.1M | ||
| Q3 25 | $948.8M | $148.8M | ||
| Q2 25 | $-918.0M | $-11.9M | ||
| Q1 25 | — | $18.9M | ||
| Q4 24 | — | $21.7M | ||
| Q3 24 | $-665.5M | $11.2M | ||
| Q2 24 | $-620.0M | $39.3M | ||
| Q1 24 | — | $61.6M |
| Q4 25 | — | $480.2M | ||
| Q3 25 | $1.3B | $506.9M | ||
| Q2 25 | $466.8M | $372.7M | ||
| Q1 25 | — | $386.7M | ||
| Q4 24 | — | $392.3M | ||
| Q3 24 | — | $363.6M | ||
| Q2 24 | — | $381.8M | ||
| Q1 24 | — | $258.7M |
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 | $-25.4M |
| 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.
| Q4 25 | — | $-25.4M | ||
| Q3 25 | $-53.0M | $-26.6M | ||
| Q2 25 | — | $-23.3M | ||
| Q1 25 | — | $-40.4M | ||
| Q4 24 | — | $-18.8M | ||
| Q3 24 | — | $-25.2M | ||
| Q2 24 | — | $-29.1M | ||
| Q1 24 | — | $-40.7M |
| Q4 25 | — | — | ||
| Q3 25 | $-62.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -201.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
RYTM
Segment breakdown not available.
