Virgin Galactic Q3 2024 Earnings Report
Key Takeaways
Virgin Galactic reported a revenue of $0.4 million and a net loss of $75 million in Q3 2024. The company's cash position remains strong with $744 million in cash, cash equivalents, and marketable securities. The production schedule for Delta Class spaceships remains on track for commercial service in 2026.
Cash position remains strong, with cash, cash equivalents and marketable securities of $744 million as of September 30, 2024.
Revenue of $0.4 million, compared to $1.7 million in the third quarter of 2023, with the decrease driven by the pause in commercial spaceflights to focus efforts on the production of the Delta Class spaceships.
Net loss of $75 million, compared to a $105 million net loss in the third quarter of 2023, with the improvement primarily driven by lower operating expenses.
Production schedule for Delta Class spaceships remains on track for commercial service in 2026.
Virgin Galactic
Virgin Galactic
Forward Guidance
Free cash flow for the fourth quarter of 2024 is expected to be in the range of $(115) million to $(125) million.