Virgin Galactic Holdings Inc
NYSE:SPCE
Virgin Galactic Holdings Inc
Virgin Galactic Holdings, Inc. is an aerospace and space travel company, which engages in the manufacture of advanced air and space vehicles, and the provision of spaceflight services for private individuals and researchers. The company is headquartered in Las Cruces, New Mexico and currently employs 804 full-time employees. The company went IPO on 2017-09-18. The firm is focused on the development, manufacture and operations of spaceships and related technologies for the purpose of conducting commercial human spaceflight and flying commercial research and development payloads into space. The firm's assets include its carrier aircraft, the mothership, which is a twin-fuselage, custom-built aircraft designed to carry its spaceships up to an altitude of approximately 45,000 feet, where the spaceship is released for its flight into space; its spaceship platform is a reusable spaceship with the capacity to carry two pilots and up to six future astronauts into space before returning them safely to the Earth’s surface; its hybrid rocket motor is designed to provide performance capabilities necessary for spaceflight with a focus on safety, reliability and economy; its Spaceport America is a commercial spaceport, which includes space terminal, hangar facilities and a 12,000 foot runway.
Virgin Galactic Holdings, Inc. is an aerospace and space travel company, which engages in the manufacture of advanced air and space vehicles, and the provision of spaceflight services for private individuals and researchers. The company is headquartered in Las Cruces, New Mexico and currently employs 804 full-time employees. The company went IPO on 2017-09-18. The firm is focused on the development, manufacture and operations of spaceships and related technologies for the purpose of conducting commercial human spaceflight and flying commercial research and development payloads into space. The firm's assets include its carrier aircraft, the mothership, which is a twin-fuselage, custom-built aircraft designed to carry its spaceships up to an altitude of approximately 45,000 feet, where the spaceship is released for its flight into space; its spaceship platform is a reusable spaceship with the capacity to carry two pilots and up to six future astronauts into space before returning them safely to the Earth’s surface; its hybrid rocket motor is designed to provide performance capabilities necessary for spaceflight with a focus on safety, reliability and economy; its Spaceport America is a commercial spaceport, which includes space terminal, hangar facilities and a 12,000 foot runway.
Flight Timeline: Virgin Galactic remains on track to begin flight testing in Q3 2026 and launch its first commercial spaceflight in Q4 2026, with timelines essentially unchanged from previous forecasts.
Operational Progress: Key milestones in SpaceShip assembly have been achieved, with most structural parts now in hand; 90% of carbon and metallic parts for the first ship are expected by mid-December.
Financial Improvement: Q3 operating expenses decreased 19% YoY, net loss improved by 15%, and free cash flow was negative $108 million (an 8% YoY improvement), all in line with guidance.
Revenue Model: The company expects the initial two SpaceShips to generate approximately $450 million in annual revenue at high margins once operating at steady state, using a $600,000 per seat price.
Cash & Spending: Virgin Galactic ended Q3 with $424 million in cash and expects continued reduction in cash spending through Q3 2026, before spending rises with the start of commercial service.
Price Strategy: Future ticket prices are expected to rise above the previous $600,000 per seat, and sales will be managed in tranches to optimize yield.
Commercial Readiness: The company is ramping up operational hiring and digital sales infrastructure in preparation for opening new ticket sales in Q1 2026.
