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Mar 31, 2024
Virgin Galactic Q1 2024 Earnings Report
Virgin Galactic announced Q1 2024 financial results and provided a business update.
Key Takeaways
Virgin Galactic reported a revenue of $2 million for Q1 2024, compared to $0.4 million in the first quarter of 2023. The net loss was $102 million, an improvement from the $159 million net loss in the first quarter of 2023. The company's cash position remains strong with $867 million in cash, cash equivalents, and marketable securities as of March 31, 2024.
Cash, cash equivalents and marketable securities totaled $867 million as of March 31, 2024.
Revenue was $2 million, compared to $0.4 million in the first quarter of 2023.
Net loss was $102 million, compared to a $159 million net loss in the first quarter of 2023.
Free cash flow totaled $(126) million, compared to $(139) million in the first quarter of 2023.
Forward Guidance
Revenue for the second quarter of 2024 is expected to be approximately $3.5 million. Free cash flow for the second quarter of 2024 is expected to be in the range of $(110) million to $(120) million.
Positive Outlook
- Revenue for the second quarter of 2024 is expected to be approximately $3.5 million.
Challenges Ahead
- Free cash flow for the second quarter of 2024 is expected to be in the range of $(110) million to $(120) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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