Firefly Aerospace has filed to go public and will trade on the Nasdaq under the ticker FLY. The Texas-based rocket company made the announcement on Friday. The move comes as the IPO market begins to recover from a two-year slump. Firefly builds rockets space tugs and lunar landers for commercial and government clients. The company’s Alpha rocket is used for launching satellites. Its Blue Ghost lunar lander reached the moon earlier this year.

“Our mission is to make space accessible reliable and routine for everyone,” said Firefly CEO Bill Weber.

Firefly’s revenue rose to $55.9 million in March compared to $8.3 million a year earlier. The company also posted a net loss of $60.1 million. Firefly says it has a contract backlog worth $1.1 billion. Venture capitalists are showing more optimism after a busy June for deals. Firms like Klarna and StubHub had delayed IPOs due to market uncertainty. Recent moves by Circle and Meta Platforms helped renew investor interest.

Major Banks Back Firefly’s Public Debut

The IPO is backed by Goldman Sachs JPMorgan Jefferies and Wells Fargo. These banks will serve as lead underwriters. Firefly is seen as one of the top private space firms in the US. It hopes public funding will boost future space missions. The firm wants to expand its launch capabilities and explore deeper partnerships with NASA and defense agencies.