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Sep 30, 2022
Virgin Galactic Q3 2022 Earnings Report
Announced financial results for the third quarter ended September 30, 2022 and provided a business update.
Key Takeaways
Virgin Galactic reported a net loss of $146 million for the third quarter of 2022, compared to a $48 million net loss in the third quarter of 2021. The company's cash position remains strong with $1.1 billion in cash and cash equivalents and marketable securities as of September 30, 2022. Commercial launch is expected to be on track for Q2 2023.
Cash position remains strong, with cash and cash equivalents and marketable securities of $1.1 billion as of September 30, 2022.
Net loss of $146 million, compared to a $48 million net loss in the third quarter of 2021.
GAAP research and development expenses of $97 million, compared to $34 million in the third quarter of 2021.
On track to launch commercial service in Q2 2023.
Forward Guidance
Forecasted free cash flow for the fourth quarter of 2022 is expected to be in the range of $(120) million to $(130) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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