---
schema_version: "secwatch.filing_event.v1"
accession: "0001706946-23-000133"
form_type: "8-K"
ticker: "SPCE"
cik: "0001706946"
company_name: "Virgin Galactic Holdings, Inc"
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:47:43.373997+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Virgin Galactic Q3 revenue $1.7M, net loss narrows to $105M; cuts 18% of workforce

## Summary
- Q3 revenue $1.7M, up from $0.8M YoY; net loss $105M vs $146M YoY.
- Adjusted EBITDA -$87M vs -$129M YoY; cash and securities $1.1B, +$108M QoQ.
- Raised $211M via ATM issuance of 62M shares in Q3.
- Workforce reduction of ~185 employees (18%) for ~$25M annual savings; ~$5M charges in Q4.
- Delta Class production on track for 2026; next flight Galactic 06 in Jan 2024.

## SEC filing metadata
- accession: 0001706946-23-000133
- form_type: 8-K
- ticker: SPCE
- cik: 0001706946
- company_name: Virgin Galactic Holdings, Inc
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000133/0001706946-23-000133-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000133/spce-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706946-23-000133
- JSON: https://secwatch.observer/filing/0001706946-23-000133.json
- Plain text: https://secwatch.observer/filing/0001706946-23-000133.txt

## Key facts
- Earnings Releases
  Virgin Galactic Holdings, Inc reported third quarter ended September 30, 2023 results: revenue $1.7 million, net income Net loss of $105 million.
  - Period: third quarter ended September 30, 2023
  - Revenue: $1.7 million
  - Net income: Net loss of $105 million
  - Result: reported results
  source text: cash, cash equivalents and marketable securities of $1.1 billion as of September 30, 2023, a sequential increase of $108 million from the second quarter of 2023. • Revenue of $1.7 million, compared to $0.8 million in the third quarter of 2022, driven by commercial spaceflight and membership fees related to future astronauts. • GAAP total operating expenses of $116
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000133/0001706946-23-000133-index.htm
- Restructurings & Charges
  Virgin Galactic Holdings, Inc announced a restructuring with charges of approximately $5 million (approximately 185 employees, constituting approximately 18% of the Company’s workforce).
  - Type: restructuring
  - Charge: approximately $5 million
  - Headcount: approximately 185 employees, constituting approximately 18% of the Company’s workforce
  source text: The Company currently estimates that it will incur charges associated with the workforce reduction of approximately $5 million, primarily related to employee severance payments, benefits and related termination costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706946/000170694623000133/0001706946-23-000133-index.htm

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