Shares in Firefly Aerospace climbed 34% in their public debut, marking the next evolution for a company that survived bankruptcy and turmoil to develop its own fleet of rockets and successfully land a private spacecraft on the moon.

While revenue growth is strong, Firefly is still losing hundreds of millions per year. Shares of the spacecraft maker Firefly Aerospace (NASDAQ: FLY) blasted into orbit today following the company's initial public offering.