The earnings call reflects a company making strategic strides in spaceship development and fleet expansion with a strong focus on cost control and cash management. However, the current minimal revenue and ongoing negative cash flow highlight the challenges Virgin Galactic faces in achieving operational profitability. Despite these challenges, the company's strategic plans and strong cash position provide a positive outlook for future growth.

Company Guidance

In the recent earnings call for Virgin Galactic's third quarter of 2024, the company's executives provided substantial guidance on their strategic direction and financial outlook. They announced their progression into the build phase of the spaceship program, with a focus on assembling their first two Delta-class spaceships, aimed at initiating commercial operations by 2026. Revenue for the quarter was reported at $402,000, with total operating expenses of $82 million, marking a decline from $116 million in the prior year. Capital expenditures increased to $39 million as they ramp up investment in property, plant, and equipment for their Delta Class fleet, while free cash flow was negative at $118 million. Looking ahead, forecasted free cash flow for the fourth quarter is expected to range between negative $115 million to $125 million, with a trend towards reduced spending through 2025. The company anticipates needing $300 million in growth capital to expedite fleet expansion, which could potentially double revenue and quadruple EBITDA by fully utilizing Spaceport America by 2028. They maintain a strong balance sheet with $744 million in cash and equivalents, providing flexibility in acquiring growth capital and managing operational timelines.

Strong Cash Position

Virgin Galactic reported a strong balance sheet with $744 million in cash, cash equivalents, and marketable securities, providing flexibility for future growth capital.

Progress in Delta Spaceship Program

The company has moved into the build phase of its spaceship program, with tools being completed and parts beginning to be produced, maintaining the schedule for commercial operations in 2026.

Cost Control and Reduced Operating Expenses

Operating expenses have decreased to $82 million from $116 million in the prior year, primarily due to lower R&D and SG&A expenses.

Plan for Fleet Expansion

There is a strategic plan in place to expand the fleet with additional spaceships and a second mothership, aimed at driving substantial economic expansion and unlocking profitability.

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Virgin Galactic Holdings (DE:0QL0) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:0QL0 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 04, 2025	2024 (Q4)	-2.98 / -	-4.997	―	―	―
Nov 06, 2024	2024 (Q3)	-3.86 / -2.56	-5.382	52.50% (+2.83)
Aug 07, 2024	2024 (Q2)	-4.78 / -4.19	-8.842	52.61% (+4.65)
May 07, 2024	2024 (Q1)	-5.65 / -4.81	-10.956	56.14% (+6.15)
Feb 27, 2024	2023 (Q4)	-5.78 / -5.00	-10.572	52.73% (+5.57)
Nov 08, 2023	2023 (Q3)	-8.04 / -5.38	-10.572	49.09% (+5.19)
Aug 01, 2023	2023 (Q2)	-9.77 / -8.84	-8.265	-6.98% (-0.58)
May 09, 2023	2023 (Q1)	-9.99 / -10.96	-6.92	-58.33% (-4.04)
Feb 28, 2023	2022 (Q4)	-9.90 / -10.57	-5.959	-77.42% (-4.61)
Nov 03, 2022	2022 (Q3)	-7.86 / -10.57	-6.151	-71.88% (-4.42)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:0QL0 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	€6.55	€5.66	-13.64%
Aug 07, 2024	€5.21	€5.16	-0.98%
May 07, 2024	€18.82	€17.54	-6.83%
Feb 27, 2024	€35.30	€32.90	-6.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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