Quarterly ResultMay 14, 2026, 04:16 PM
Virgin Galactic Q1 Net Loss $65M; On Track for Q3 Flight Test, Q4 Spaceflight
AI Summary
Virgin Galactic Holdings, Inc. announced its first quarter 2026 financial results, reporting a net loss of $65 million, an improvement from $84 million in the prior year, with revenue at $0.2 million. The company maintained a strong cash position of $251 million and saw a decline in operating expenses. Operationally, Virgin Galactic confirmed its first SpaceShip is advancing through ground testing, with flight tests on track for Q3 2026 and the first spaceflight expected in Q4 2026.
Key Highlights
- First SpaceShip advancing through ground test phase; flight test on track for Q3 2026.
- First spaceflight continues on track for Q4 2026.
- Q1 2026 revenue was $0.2 million, compared to $0.5 million in Q1 2025.
- Q1 2026 net loss was $65 million, an improvement from $84 million in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $251 million as of March 31, 2026.
- GAAP total operating expenses were $66 million, down from $89 million in Q1 2025.
- Adjusted EBITDA was $(55) million, an improvement from $(72) million in Q1 2025.
- Free cash flow for Q2 2026 is expected to be in the range of $(87) million to $(92) million.