Virgin Galactic Q2 net loss widens to $111M; commercial service delayed to Q2 2023

Virgin Galactic Holdings, Inc

2022-Q2 EPS reported -$0.79 revenue$676,000

Net loss of $111M in Q2 2022 vs $94M in Q2 2021; Adjusted EBITDA -$93M vs -$56M.
Cash and marketable securities of $1.1B; free cash flow -$91M vs -$66M.
Commercial service launch expected Q2 2023 due to extended mothership enhancement program.
Selected Boeing subsidiary Aurora to build two new motherships; first entry service planned 2025.
New Delta class spaceship factory in Mesa, AZ expected fully operational late 2023.

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