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Investing.com -- Virgin Galactic Holdings, Inc. (NYSE:SPCE) reported a third-quarter loss of $1.09 per share on revenue of $370,000, as the space tourism company continues to make progress toward launching its first commercial spaceflight in late 2026.
The company’s shares rose 3.6% in after-hours trading Thursday as investors responded positively to Virgin Galactic maintaining its timeline for commencing commercial operations. The company reaffirmed that its flight test program remains on schedule to begin in the third quarter of 2026, with the first commercial spaceflight still on track for the fourth quarter of 2026.
"We’ve reached an exciting stage in our SpaceShip program, with our production checklist growing shorter by the week and our first commercial spaceflight continuing to track for Q4 2026," said Michael Colglazier, Chief Executive Officer of Virgin Galactic. "We expect most of our current customers will take their space journey during 2027, as our launch vehicle’s bolstered flight rate capability, combined with the quick turn time expected from our first two SpaceShips, should allow us to ramp spaceflight capacity fairly quickly."
The company reported that 90% of structural parts for the first SpaceShip are expected to arrive at its SpaceShip Factory in the fourth quarter of 2025. Commercial preparations are underway, with the first tranche of sales for spaceflights on the new SpaceShips expected to commence in the first quarter of 2026.
Virgin Galactic maintained a strong financial position with $424 million in cash, cash equivalents, and marketable securities as of September 30, 2025. Net loss for the quarter was $64 million, an improvement from the $75 million loss in the same period last year, primarily due to lower operating expenses.
For the fourth quarter of 2025, the company expects free cash flow to be between $(90) million and $(100) million as it continues to invest in its spaceflight program.
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