---
schema_version: "secwatch.filing_event.v1"
accession: "0001706946-25-000130"
form_type: "8-K"
ticker: "SPCE"
cik: "0001706946"
company_name: "Virgin Galactic Holdings, Inc"
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T19:38:59.209778+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Virgin Galactic Q2 revenue $0.4M, net loss $67M; commercial service on track for 2026

## Summary
- Revenue of $0.4M vs $4.2M YoY; net loss narrowed to $67M from $94M on lower operating expenses.
- Cash, cash equivalents and marketable securities of $508M; issued 15.7M shares via ATM for $56M gross proceeds.
- Non-GAAP operating expenses fell to $58M from $95M YoY; free cash flow was -$114M in both Q2 2025 and 2024.
- SpaceShip wing and feather assembly expected Q4 2025; fuselage completion late Q4 2025 or early Q1 2026.
- Commercial spaceflight planned for fall 2026; feasibility studies with Lawrence Livermore Lab and for Italy spaceport.

## SEC filing metadata
- accession: 0001706946-25-000130
- form_type: 8-K
- ticker: SPCE
- cik: 0001706946
- company_name: Virgin Galactic Holdings, Inc
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1706946/000170694625000130/0001706946-25-000130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706946/000170694625000130/spce-20250806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706946-25-000130
- JSON: https://secwatch.observer/filing/0001706946-25-000130.json
- Plain text: https://secwatch.observer/filing/0001706946-25-000130.txt

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