Shocking News (But No, Not Really): Virgin Galactic Needs More Money [Yahoo! Finance]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: Yahoo! Finance
On the one hand, the space tourism company confirmed that the "build phase" of its new fleet of Delta-class spaceplanes is "underway," it's shifting to design work on its new "mothership," and the company is on course to begin commercial flights in 2026 -- all good news. Yet, Virgin Galactic stock closed down for the week regardless. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » The reason for that was the earnings themselves. Virgin Galactic's Unity spaceplane flew its last batch of space tourists on the Galactic 07 flight this past June, and entered into retirement shortly thereafter. The company hasn't flown a single paying customer to space since, and won't be able to until it completes construction and testing of its new Delta-class spaceplanes, and the motherships to carry them. Unsurprisingly, then, Virgin Galactic collected almost no revenue this past quarter (just $402,000). Granted, with no flights happen
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SPCE
Earnings
- 11/6/24 - Beat
SPCE
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form SC
- 11/7/24 - Form 8-K
- SPCE's page on the SEC website