Virgin Galactic Holdings Inc ( (SPCE) ) has released its Q4 earnings. Here is a breakdown of the information Virgin Galactic Holdings Inc presented to its investors.
Virgin Galactic Holdings Inc., a leading aerospace and space travel company, is at the forefront of pioneering private spaceflights and research missions with its advanced air and space vehicles. The company is focused on scaling operations with next-generation vehicles designed to make space travel more accessible and cost-effective.
In its latest earnings report for the fourth quarter and full year 2024, Virgin Galactic announced a significant milestone with the planned launch of its first spaceflight using the new Delta SpaceShip in summer 2026. This mission will carry scientific research payloads, with private astronaut spaceflights expected to commence in the fall of 2026. The company has also begun the assembly of its first Delta SpaceShip, marking a crucial step in its production schedule.
Financially, Virgin Galactic reported a strong cash position of $657 million as of December 31, 2024. However, the company experienced a decrease in revenue to $0.4 million for the fourth quarter, down from $2.8 million in the same period the previous year, primarily due to a pause in commercial spaceflights. The net loss for the quarter improved to $76 million from $104 million in the fourth quarter of 2023, driven by reduced operating expenses. For the full year, the company maintained a steady revenue of $7 million, with a net loss of $347 million, an improvement from the $502 million loss in 2023.
Strategically, Virgin Galactic is on track with its production schedule for the Delta Class SpaceShips, aiming for commercial service in 2026. The company has executed a contract with Redwire for the design and production of next-generation SpaceShip research payload lockers and is advancing a feasibility study with Italy’s civil aviation authority for a potential second spaceport.
Looking ahead, Virgin Galactic remains committed to its strategic goals, with management expressing optimism about the future. The company continues to focus on the development and production of its Delta Class spaceships, aiming to accelerate growth and expand its commercial spaceflight offerings in the coming years.