Virgin Galactic's Q4 2023 shows increased revenue driven by commercial spaceflights and membership fees, alongside reduced GAAP and non-GAAP operating expenses. The company's net loss decreased compared to the previous year, and its cash position remains strong.
Cash, cash equivalents and marketable securities totaled $982 million.
Revenue increased to $3 million, driven by commercial spaceflights and membership fees.
GAAP operating expenses decreased to $117 million from $154 million in Q4 2022.
Net loss improved to $104 million compared to $151 million in Q4 2022.
Virgin Galactic anticipates approximately $2 million in revenue and free cash flow between $(125) million and $(135) million for the first quarter of 2024.
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