Virgin Galactic Holdings Inc Stock Price, News & Analysis

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.

Virgin Galactic Holdings (NYSE: SPCE) has appointed Matthew Boguradzki as Vice President of Sales and Strategy. Effective immediately, he will guide the sales team to support commercial growth and enhance customer engagement. Boguradzki's previous experience includes leading vehicle sales at Rolls-Royce for North and South America and serving as National Sales Manager at BMW Group Australia. His appointment reflects Virgin Galactic's commitment to scaling its operations and building a robust Future Astronaut community.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) reported a second quarter 2022 net loss of $111 million, worsening from $94 million a year earlier. Expenses rose with GAAP selling, general, and administrative costs at $45 million, and R&D expenses increasing to $62 million. Despite this, cash and cash equivalents stand at a robust $1.1 billion. Major developments include a partnership with Aurora Flight Sciences to construct two new motherships, with the first expected to be operational by 2025, and a new manufacturing facility in Arizona expected to be fully operational by late 2023, supporting upcoming commercial launches in Q2 2023.

Virgin Galactic Holdings (NYSE: SPCE) has appointed Mike Moore as Executive Vice President of Spaceline Technical Operations as of August 22. Moore, a veteran with over 28 years in aerospace, will oversee the technical operations team and facilitate the readiness of vehicles for high-frequency commercial flights. His previous experience includes leadership roles at Delta Air Lines, where he was instrumental in major maintenance partnerships. CEO Michael Colglazier highlighted Moore’s expertise in safety and process improvement as crucial for the company’s ambitious expansion plans.

Virgin Galactic (NYSE: SPCE) has announced plans for a new astronaut campus and training facility in Sierra County, New Mexico. This facility aims to enhance the customer journey for future astronauts and their guests prior to flights from Spaceport America. The campus will feature training facilities, accommodations, and recreational options while emphasizing sustainability. Virgin Galactic has committed over $180 million to local suppliers since 2011 and employs more than 200 people in New Mexico, with expectations of creating additional jobs.