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41 /100
MEDIUM RISK
Score updated Oct 13, 2026

FLY — Firefly Aerospace Inc. Dilution Risk Tracker

Track FLY dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of October 13, 2026, Firefly Aerospace Inc. (FLY) has a DilutionWatch DilutionScore of 41/100, rated MEDIUM dilution risk. Firefly Aerospace Inc. has a market capitalization of $3.24B, 167.40M shares outstanding, 10 institutional holders tracked. Stored dilution-related fields include shelf registration capacity of $190.10M, ATM program capacity of $480.00M.

This page includes automatically generated factual summaries from DilutionWatch data. It is not financial advice, not investment research, and not a recommendation. Do your own research. Read the full disclaimer and terms of service.

Score Breakdown

📋 Offering Ability
60
💰 Cash Runway
10
📊 Float Risk
22
⚠️ Warrant Exposure
15
🔄 Convertible Debt
15

Dilution Forecast

⛅
Watch
Minor dilution signals detected
model est. 19%
💰 Capital Raise model 38%
• Active shelf registration ($190M, 6% of market cap)
• Active ATM program with $480M remaining capacity
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Market Data

Market Cap$3.24B
Shares Outstanding167.40M
Float110.19M
Cash$635.26M
Debt$143.53M
Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

FieldCurrent ValueBasis
DilutionScore41/100DilutionWatch score record
Shares Outstanding167.40MVerified float table or market cache
Public Float110.19MVerified float table or market cache
Market Cap$3.24BMarket data cache
Cash Runway26.4 monthsDilutionWatch score inputs
Shelf Capacity$190.10MSEC-derived dilution fields
ATM Capacity$480.00MSEC-derived dilution fields
Outstanding WarrantsNone in current score inputsSEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 7.

Recent SEC source mix: 3 1, 4 3, 424B3 1, XBRL 2.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

10 institutional holders · 46.05M shares
#1 Ae Industrial Partners, LP 35.23M shares
#2 Vanguard Group Inc 1.96M shares
#3 Hudson Bay Capital Management Lp 1.79M shares
+ 7 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest11.94M
Days to Cover3.2
% of Float10.8%
FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2026-03-20
xbrl XBRL CONVERTIBLE 2026-03-20
3 FORM3 2026-10-07
4 INSIDER TRANSACTION 2026-10-07
424B3 ATM 2026-10-06
Full SEC filing analysis available with free account →

Recent News

Factual FLY Dilution Snapshot

Firefly Aerospace Inc. (FLY) has a DilutionScore of 41/100, rated Medium dilution risk. Score date: October 13, 2026.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

FLY's DilutionScore is currently 41/100 (Medium risk), with 3 score changes tracked over 89 days. The score improved from 38/100 (Medium risk).

Period Score Risk Level Duration
Sep 29 – Oct 13, 202641/100MEDIUM15 days
Sep 26 – Sep 28, 202638/100MEDIUM3 days
Aug 14 – Sep 25, 202637/100MEDIUM42 days
Jul 16 – Aug 13, 202641/100MEDIUM29 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

FLY shares outstanding have increased 0.6% from 159.25M (Mar 2026) to 160.24M (May 2026). Each increase represents potential dilution to existing shareholders.

Date Shares Outstanding Public Float Change
May 17, 2026160.24M110.19M▲ 27.08%
May 08, 2026160.24M86.71M▲ 0.07%
May 07, 2026160.24M86.65M▲ 0.18%
Apr 20, 2026159.95M86.50M▲ 3.54%
Mar 30, 2026159.95M83.54M▼ 21.93%
Mar 28, 2026159.95M107.01M▲ 1.40%
Mar 24, 2026159.95M105.54M▲ 0.64%
Mar 21, 2026159.25M104.85M▲ 0.02%
Mar 15, 2026159.25M104.84M▲ 1.23%
Mar 11, 2026159.25M103.57M▼ 0.01%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

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