Virgin Galactic Holdings Inc Stock Price, News & Analysis

Virgin Galactic Holdings (NYSE: SPCE) announced significant changes to its Board of Directors, appointing Evan Lovell, Chief Investment Officer of Virgin Group, as Chair effective April 21, 2023. Lovell has served as interim chair since February 2022 and brings over 20 years of private equity experience. The company welcomed Raymond Mabus, Jr., former U.S. Secretary of the Navy, as Lead Independent Director, and Diana Strandberg, former Senior Vice President at Dodge & Cox, as a new Board member. These appointments aim to enhance the Board's expertise in capital markets and international business.

Additionally, directors Adam Bain and George Mattson announced plans to retire, marking a shift in leadership as the company prepares for its commercial spaceflight launch.

Virgin Galactic Holdings (NYSE: SPCE) will report its financial results for Q1 2023 on May 9, 2023, after U.S. market close. A conference call to discuss these results is scheduled for 2:00 p.m. PT (5:00 p.m. ET). Investors can access a live webcast and replay via the Company’s Investor Relations website.

Virgin Galactic focuses on human spaceflight for private individuals and researchers, aiming to provide transformative experiences through its advanced air and space vehicles. The company is developing a unique spaceflight system to connect people to the wonders of space travel.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) reported its financial results for Q4 and full year 2022, revealing a net loss of $500 million for the year, up from $353 million in 2021. Q4 2022 net loss was $151 million, worsening from a $81 million loss in Q4 2021. Despite challenges, the company has a strong cash position with $980 million as of December 31, 2022. Operating activities consumed $380 million in cash over the year. The company is on track to launch commercial services in Q2 2023 following successful validation flights. Significant investments were made in R&D, totaling $314 million for the full year, highlighting ongoing development efforts.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) will report its financial results for the fourth quarter and full year 2022 on February 28, 2023, after U.S. market close. A conference call to discuss these results will occur at 2:00 p.m. PT (5:00 p.m. ET) that same day. Investors can access a live webcast on the Company's Investor Relations website.

Virgin Galactic is focused on pioneering human spaceflight for private individuals and researchers and is committed to creating a transformative space travel experience.

Virgin Galactic Holdings (NYSE: SPCE) announced updates to its leadership structure as it prepares for commercial spaceline operations, expected to launch in Q2 2023. The changes aim to enhance flight frequency and facilitate fleet development. Key leadership changes include the departure of Swami Iyer, with Mike Moses, Mike Moore, and Steve Justice taking pivotal roles. The mothership, VMS Eve, is set for ground tests before flight tests, ensuring readiness for commercial service.

Virgin Galactic (NYSE: SPCE) reported a net loss of $146 million for Q3 2022, up from $48 million in Q3 2021. The company's cash position remains robust, with $1.1 billion in cash and cash equivalents. Research and development expenses surged to $97 million, compared to $34 million in the previous year. The company announced Bell Textron and Qarbon Aerospace as primary suppliers for its new Delta Class spaceships, with the first expected to be completed by 2025. Virgin Galactic is on track to launch commercial services by Q2 2023.

Virgin Galactic Holdings (NYSE: SPCE) announces a partnership with Axiom Space to facilitate microgravity research and training for an upcoming International Space Station mission. This spaceflight, expected next year, emphasizes Virgin Galactic's commitment to scientific exploration, with plans to reserve 10% of its first 1,000 seats for research missions. The collaboration aims to enhance human space exploration and expand opportunities for scientific discovery, aligning with both companies’ goals in the commercial space sector.

Virgin Galactic Holdings (NYSE: SPCE) has partnered with Bell Textron Inc. and Qarbon Aerospace to manufacture critical subassemblies for its new Delta class spaceships. Production is expected to start in 2023, aiming for a flight frequency of six passengers per ship weekly. Bell will provide the feathering system and flight control surfaces, while Qarbon will produce the fuselage and wings. The first Delta class spaceships are projected to begin revenue-generating flights in late 2025, leading to private astronaut flights in 2026.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) will announce its third quarter 2022 financial results on November 03, 2022, after U.S. market close. A conference call will follow at 2:00 p.m. PT to discuss the results. Investors can access a live webcast on the company's Investor Relations website. Virgin Galactic is focused on pioneering human spaceflight for private individuals and researchers, emphasizing its mission to connect the world to the transformative experience of space travel.