CEO Jason Kim celebrates Firefly Aerospace’s Blue Ghost lunar lander’s successful landing on the Moon during the watch party at Haute Spot on March 2, 2025 in Cedar Park, Texas. Houston Chronicle via Getty Imag
Firefly Aerospace is aiming for the Moon—and beyond. The Texas-based space company went public on the Nasdaq on Aug. 7 in the largest space IPO of the year so far, just months after completing a historic lunar landing. The debut is a rare bright spot for the otherwise subdued commercial space sector in recent years and marks a dramatic turnaround for a company that has faced lawsuits, bankruptcy and restructuring.
Founded in 2014 as Firefly Space Systems, the company filed for bankruptcy in 2016 before being restructured the next year as Firefly Aerospace. It develops rockets, spacecraft and in-space services. Firefly has secured major government backing, including contracts with NASA and the U.S. Space Force, as well as private partnerships with aerospace giants Northrop Grumman and Lockheed Martin.
Firefly’s IPO comes as the Trump administration seeks to diversify U.S. space contractors and lessen reliance on Elon Musk’s SpaceX following their political fallout—particularly for programs tied to the President’s Golden Dome missile defense initiative. This policy shift has opened the door for companies like Firefly to become key players in a sector experiencing renewed interest and investment.
Firefly’s major milestones
Alpha rocket: Firefly’s Alpha is a small-lift, non-reusable launch vehicle built for the expanding small satellite market. Development began in 2015 under Firefly Space Systems and continued after the 2017 restructuring. Alpha reached orbit in on Oct. 1, 2022.
NASA lunar contract: In 2021, Firefly won a $93 million award from NASA’s Commercial Lunar Payload Services (CLPS) program to build a lunar lander, called Blue Ghost.
Rapid-response mission: In September 2023, Firefly launched the U.S. Space Force’s “Victus Nox” mission with just 24 hours’ of notice. The launch was a key turning point for the company in proving their rapid-response capability.
Historic Moon landing: On March 2, 2025, Firefly’s Blue Ghost lander touched down in the Moon’s Mare Crisium basin, delivering 10 NASA payloads. The achievement made Firefly the second private company to land on the Moon and the first to do so without toppling over.
Northrop Grumman investment: In May 2025, Northrop Grumman invested $50 million to speed development of Eclipse, a medium-lift rocket the two companies are building together, with a planned first launch in 2026.
Who runs Firefly today?
Jason Kim: CEO
Appointed CEO in 2024, Jason Kim brought experience from his previous role as CEO of Millennium Space, a Boeing subsidiary, and executive positions at Raytheon and Northrop Grumman. A graduate of the U.S. Air Force Academy, Kim has concentrated on securing defense contracts as the U.S. reassesses space security amid Russia’s war in Ukraine and President Trump’s Golden Dome missile defense initiative.
Tom Markusic: co-founder and CTO
Markusic was one of the three original co-founders of Firefly. He previously led the propulsion department at Virgin Galactic and worked at Blue Origin, SpaceX and NASA. His two co-founders were P.J. King and Michael Blum. Both left following the company’s bankruptcy. King is is now CEO of Thunderchild Fusion, a nuclear energy startup. Blum remained publicly supportive of Firefly, recently posting encouragement on X. He currently serves as president of Hedgeye Risk Management, a financial research and media firm.
Max Polyakov: former largest shareholder
After Firefly’s 2017 bankruptcy, its assets were acquired by Noosphere Ventures, led by Ukrainian tech entrepreneur Max Polyakov. The restructuring made Polyakov the company’s largest shareholder. In 2022, however, the U.S. government forced him to sell his stake over national security concerns. His shares were purchased by AE Industrial Partners, led by Peter Schumacher. Schumacher then served as Firefly’s CEO until late 2022.
