---
schema_version: "secwatch.filing_event.v1"
accession: "0001706946-23-000030"
form_type: "8-K"
ticker: "SPCE"
cik: "0001706946"
company_name: "Virgin Galactic Holdings, Inc"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:29:10.483961+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Virgin Galactic Q1 net loss $159M, cash $874M; commercial flight on track for late June

## Summary
- Net loss of $159M vs $93M YoY; Adj. EBITDA -$140M vs -$77M.
- Cash, cash equivalents and marketable securities $874M; net cash used in ops $136M.
- Commercial 'Galactic 01' on track for late June; VSS Unity glide flight cleared for spaceflight.
- Generated $32M gross proceeds from 5.8M shares via ATM program.
- No revenue reported; R&D expenses surged to $110M from $52M YoY.

## SEC filing metadata
- accession: 0001706946-23-000030
- form_type: 8-K
- ticker: SPCE
- cik: 0001706946
- company_name: Virgin Galactic Holdings, Inc
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000030/0001706946-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000030/spce-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706946-23-000030
- JSON: https://secwatch.observer/filing/0001706946-23-000030.json
- Plain text: https://secwatch.observer/filing/0001706946-23-000030.txt

## Key facts
- Earnings Releases
  Virgin Galactic Holdings, Inc reported the first quarter ended March 31, 2023 results: net income Net loss of $159 million.
  - Period: the first quarter ended March 31, 2023
  - Net income: Net loss of $159 million
  - Result: reported results
  source text: On May 9, 2023, Virgin Galactic Holdings, Inc. (the "Company") issued a press release announcing certain financial and other results for the fiscal quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000030/0001706946-23-000030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.