Virgin Galactic Q3 net loss widens to $146M; cash $1.1B; on track for Q2 2023 commercial launch

Virgin Galactic Holdings, Inc

2022-Q3 EPS reported -$1.34 revenue$1,443,000

Net loss of $146M vs $48M in Q3 2021; adjusted EBITDA -$129M vs -$68M.
Cash and equivalents of $1.1B; free cash flow -$107M; raised $100M via ATM offering in August.
Selected Bell Textron and Qarbon Aerospace as primary suppliers for Delta Class spaceships; first expected in 2025.
Commercial service launch remains on track for Q2 2023; multiple test flights planned.
R&D expenses nearly tripled to $97M from $34M YoY, driving wider operating losses.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Virgin Galactic Holdings, Inc reported the third quarter ended September 30, 2022 results: net income Net loss of $146 million.

Period: the third quarter ended September 30, 2022
Net income: Net loss of $146 million
Result: reported results

Exact text from the filing

Virgin Galactic Announces Third Quarter 2022 Financial Results And Provides Business Update

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Virgin Galactic Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001706946-22-000146

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