The album was a major breakthrough for the band, both in their native Sweden and internationally.

[8] AllMusic critic John Bush viewed First Band on the Moon as a return to the "mood and feel" of the Cardigans' 1994 debut album Emmerdale, with a new lyrical focus on "unfaithful lovers" and, in the case of "Lovefool", "unrequited affection".

He noted that while its stylistic shift from its 1995 predecessor Life may confuse listeners, the album is buoyed by Nina Persson's vocals and Peter Svensson's arrangements, "the Cardigans' core strengths".

In addition to the cover "Iron Man", "Heartbreaker" begins and ends with a quotation of the primary material from the song "Black Sabbath", the first track on Black Sabbath's debut album.

"Been It" and "Your New Cuckoo" were both slightly shortened for single release; the former also had the word "whore" obscured by a guitar lick to make it more palatable for radio play.