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Jun 30, 2024
Virgin Galactic Q2 2024 Earnings Report
Announced financial results for the second quarter ended June 30, 2024 and provided a business update.
Key Takeaways
Virgin Galactic reported a revenue of $4 million, a net loss of $94 million, and a strong cash position of $821 million as of June 30, 2024. Progress on the Delta Class spaceship program was substantial in Q2, with the pace of design completion accelerating and tool fabrication underway.
Cash position remains strong, with cash, cash equivalents and marketable securities of $821 million as of June 30, 2024.
Revenue of $4 million, compared to $2 million in the second quarter of 2023, driven by commercial spaceflight and membership fees related to future astronauts.
Net loss of $94 million, compared to a $134 million net loss in the second quarter of 2023, with the improvement primarily driven by lower operating expenses.
Construction completed on final assembly facility in Phoenix, Arizona for Delta Class spaceships.
Forward Guidance
Free cash flow for the third quarter of 2024 is expected to be in the range of $(115) million to $(125) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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