XML 44 R36.htm IDEA: XBRL DOCUMENT v3.26.1

Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of presents the key inputs applied in the valuation of the RPM Call Option and majority sponsortop-up

The Company used a Black-Scholes option-pricing valuation model to value the Series J Warrants as of March 31, 2026. The following table presents the key inputs applied in the valuation of the Series J Warrants:

	March 31, 2026
Common stock price	$		28.47
Exercise price for the Series J Warrants	$		21.17
Risk-free rate		4.09%-4.14%
Volatility		94.0%-99.0%
Term (years)		7.30-8.14
Black-Scholes value (per share)	$	24.70-24.80
Number of warrants			646
Value of Series J Warrants	$		15,978

The following tables present the key inputs applied in the valuation of the Series J Warrants as of December 31, 2025:

	December 31, 2025
Common stock price	$		22.37
Exercise price for the Series J Warrants	$		21.17
Risk-free rate		3.94%-4.01%
Volatility		92.5%-97.5%
Term (years)		7.55-8.39
Black-Scholes value (per share)	$	19.00-19.06
Number of warrants			646
Value of Series J Warrants	$		12,294

Schedule of Carrying Value of The Term Loans Approximated Their Estimated Fair Value

The fair value of the Series J Warrants on March 31, 2026 was $16.0 million.

		March 31, 2026
		Level 1				Level 2				Level 3				Total
Assets:
Cash		$	275,880			$	—			$	—			$	275,880
Money market funds			50,299				—				—				50,299
Time deposits			225,447				—				—				225,447
Total financial assets		$	551,626			$	—			$	—			$	551,626
Liabilities:
Series J Warrants		$	—			$	15,978			$	—			$	15,978
Total financial liabilities		$	—			$	15,978			$	—			$	15,978

The fair value of the Series J Warrants on December 31, 2025 was $12.3 million.

		December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets:
Cash		$	787,747			$	—			$	—			$	787,747
Money market funds			—				5,219				—				5,219
Time deposits			100,008				—				—				100,008
Total financial assets		$	887,755			$	5,219			$	—			$	892,974
Liabilities:
Series J Warrants		$	—			$	12,294			$	—			$	12,294
Total financial liabilities		$	—			$	12,294			$	—			$	12,294

X

- Definition

Schedule Of Presents The KeyInputs Applied In The Valuation [Table Text Block]

+ References

No definition available.

+ Details

Name:	fly_ScheduleOfPresentsTheKeyInputsAppliedInTheValuationTableTextBlock
Namespace Prefix:	fly_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration