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Virgin Galactic Holdings, Inc.

SPCE

Virgin Galactic Holdings, Inc. • NYSE
$3.87 ▲ 4.59% (+0.17)
Market Cap $244.58 M
52w High $7.59
52w Low $2.18
Dividend Yield 0%
P/E -0.57
Volume 1.77M
Outstanding Shares 63.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $365K ▼ $40.517M ▼ $-64.417M ▲ -17.648K% ▼ $-1.09 ▲ $-57.05M ▲
Q2-2025 $406K ▼ $56.142M ▼ $-67.28M ▲ -16.571K% ▲ $-1.47 ▲ $-59.899M ▲
Q1-2025 $461K ▲ $68.083M ▲ $-84.487M ▼ -18.327K% ▼ $-2.38 ▲ $-76.976M ▼
Q4-2024 $429K ▲ $62.111M ▼ $-76.413M ▼ -17.812K% ▲ $-2.53 ▲ $-69.15M ▼
Q3-2024 $402K $62.256M $-74.54M -18.542K% $-2.66 $-66.861M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $423.571M ▼ $853.543M ▼ $627.646M ▼ $225.897M ▼
Q2-2025 $469.335M ▼ $898.817M ▼ $635.444M ▲ $263.373M ▼
Q1-2025 $489.517M ▼ $903.933M ▼ $631.762M ▼ $272.171M ▼
Q4-2024 $563.226M ▼ $961.225M ▼ $638.945M ▼ $322.28M ▼
Q3-2024 $651.1M $1.016B $650.317M $365.992M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-64.417M ▲ $-56.303M ▼ $-767K ▼ $22.137M ▼ $-34.933M ▼ $-107.787M ▲
Q2-2025 $-67.28M ▲ $-55.446M ▲ $23.159M ▲ $53.86M ▲ $21.573M ▲ $-113.807M ▲
Q1-2025 $-84.487M ▼ $-75.918M ▲ $7.475M ▼ $29.712M ▲ $-38.731M ▼ $-121.965M ▼
Q4-2024 $-76.413M ▼ $-81.035M ▼ $59.212M ▲ $27.992M ▼ $6.169M ▲ $-116.744M ▲
Q3-2024 $-74.54M $-79.307M $32.768M $36.427M $-10.112M $-117.966M

Five-Year Company Overview

Income Statement

Income Statement Virgin Galactic is still effectively a pre-revenue company. Sales are tiny compared with the money it spends running and developing the business. The company has been posting sizable operating and net losses every year, with no clear sign yet of reaching break-even. Losses reflect high spending on engineering, testing, operations, and overhead while flights are rare and ticket revenue is minimal. The reverse stock split in 2024 also hints at long-standing pressure on the share price, which often reflects the market’s concern about continued losses and delays in scaling the business.

Balance Sheet

Balance Sheet The balance sheet shows a company that once had a comfortable cash cushion but has been steadily using it up. Cash has been trending downward as it funds operations and development. Debt is now a meaningful part of the capital structure compared with earlier years, while shareholders’ equity has been eroding as losses accumulate. Overall, the company still has assets to draw on, but its financial flexibility is clearly weaker than a few years ago and increasingly tied to its ability to raise or refinance capital in the future.

Cash Flow

Cash Flow Virgin Galactic has been consistently burning cash. Cash outflows from day‑to‑day operations are large, and free cash flow has been firmly negative for several years. Investment spending on equipment and facilities is relatively modest compared with operating burn, but still adds to total cash usage. The business is highly dependent on external financing to cover this gap until it can fly frequently enough to generate meaningful, recurring revenue. This makes timing and execution of its flight program and cost control especially important.

Competitive Edge

Competitive Edge Within the tiny but highly visible space tourism market, Virgin Galactic is a recognized pioneer with a strong consumer brand and a differentiated, airplane‑like flight profile. Its focus on a multi‑day, luxury “astronaut experience” and a loyal community of future customers gives it a distinctive positioning versus rivals like Blue Origin. However, its moat is still emerging rather than secure: the entire market is early, ticket prices are high, and regulatory, technical, and safety challenges create real uncertainty. At the same time, its first‑mover advantage, brand power, and experience flying crewed missions provide a foundation that newer entrants will have to work hard to match.

Innovation and R&D

Innovation and R&D Innovation is the core of Virgin Galactic’s story. Its air‑launch system, hybrid rocket motor, and feathering reentry design are all tailored to make suborbital spaceflight more repeatable and passenger‑friendly. The next big bet is the Delta Class spacecraft, which are designed to carry more passengers and fly more often, aiming to transform occasional demonstration flights into a higher‑volume service. The company’s R&D focus is now shifting from proving the concept to industrializing it: designing vehicles for faster turnaround, easier maintenance, and scalable production. This is promising but also risky, because technical setbacks, delays, or cost overruns could quickly strain its already limited financial resources.

Summary

Virgin Galactic today looks much more like a high‑risk aerospace development project than a mature operating business. The income statement shows persistent heavy losses and almost no revenue; the balance sheet and cash flows reveal ongoing cash burn and increasing reliance on outside funding. Against that, the company has a clear technological vision, a strong brand, and a differentiated customer experience in a market where it has helped define the category. The key swing factor is execution on the Delta Class program and the ability to ramp safe, regular flights before its financial runway shortens too much. Success could transform the economics of the business, but the path there involves substantial technical, regulatory, and funding uncertainty.

NEWS

November 13, 2025 · 4:05 PM UTC

Virgin Galactic Announces Third Quarter 2025 Financial Results And Provides Business Update

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October 22, 2025 · 4:56 PM UTC

Virgin Galactic Announces Date of Third Quarter 2025 Financial Results and Conference Call

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October 22, 2025 · 3:46 PM UTC

Halper Sadeh LLC Encourages Virgin Galactic Holdings, Inc. Shareholders to Contact the Firm to Discuss Their Rights

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October 15, 2025 · 4:06 PM UTC

Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08

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September 23, 2025 · 3:34 PM UTC

All-Boilermaker team to crew Virgin Galactic suborbital mission Purdue 1

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