Virgin Galactic Holdings Inc (NYSE:SPCE) shares are rallying in after-hours Wednesday after the company reported second-quarter financial results. Here’s what you need to know from the print.
SPCE stock is on the move, climbing higher. Track live prices here.
Q2 Earnings: Virgin Galactic reported second-quarter revenue of $406,000, missing estimates of $540,000, according to Benzinga Pro. Total revenue was down from $4.2 million in the prior year’s quarter due to a pause in commercial spaceflights to focus efforts on the production of the Delta Class SpaceShips.
The aerospace and space travel company reported a second-quarter loss of $1.47 per share, beating estimates for a loss of $2.22 per share.
Virgin Galactic ended the quarter with $508 million in total cash, cash equivalents and marketable securities.
“Progress on our SpaceShips continues across all systems and structures, and our strong balance sheet, with over $500 million in cash, cash equivalents and marketable securities, provides the foundation to execute our business model as we bring our SpaceShips into commercial service,” said Michael Colglazier, CEO of Virgin Galactic.
Looking Ahead: Virgin Galactic anticipates negative free cash flow of $100 million to $110 million in the third quarter, versus negative $114 million in the second quarter.
The company said SpaceShip wing assembly and feather assembly are expected to be completed during the fourth quarter, with the fuselage expected to be completed late in the fourth quarter or early in the first quarter of 2026.
“We have continued to reduce our quarterly cash spending and operating expense as part of our disciplined approach. Commercial service remains planned for 2026, with both research and private astronaut flights expected in the fall next year,” Colglazier added.
SPCE Price Action: Virgin Galactic shares were up 11.4% in after-hours, trading at $4.22 at the time of publication on Wednesday, according to Benzinga Pro.
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Photo: courtesy of Virgin Galactic.
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