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Mar 31, 2022
Virgin Galactic Q1 2022 Earnings Report
Announced first quarter 2022 financial results.
Key Takeaways
Virgin Galactic reported a net loss of $93 million for Q1 2022, compared to a $130 million net loss in Q1 2021. The company's cash position remains strong with $1.22 billion. Commercial service launch is expected to move from Q4 2022 to Q1 2023 due to supply chain and labor constraints. Demand for tickets remains strong, with approximately 800 future astronaut reservations.
Cash position remains strong, with cash and cash equivalents, restricted cash and marketable securities of $1.22 billion as of March 31, 2022.
Net loss of $93 million, compared to a $130 million net loss in the first quarter of 2021.
VSS Unity test spaceflight expected in Q4 2022.
Expect to launch commercial service in Q1 2023.
Forward Guidance
Forecasted free cash flow for the second quarter of 2022 is expected to be in the range of $(80) to $(90) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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