---
schema_version: "secwatch.filing_event.v1"
accession: "0001706946-25-000149"
form_type: "8-K"
ticker: "SPCE"
cik: "0001706946"
company_name: "Virgin Galactic Holdings, Inc"
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:28:01.529711+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Virgin Galactic Q3 net loss $64M, cash $424M; first commercial flight on track for Q4 2026

## Summary
- Net loss of $64M, revenue $0.4M flat YoY; adjusted EBITDA $(53)M.
- Cash $424M; free cash flow $(108)M; net cash used in ops $(56)M; capex $51M.
- First commercial spaceflight on track for Q4 2026; flight tests start Q3 2026.
- First sales tranche for new SpaceShips expected Q1 2026; 90% structural parts in factory Q4 2025.
- Issued 7.4M shares via ATM for $23M gross proceeds in Q3 2025.

## SEC filing metadata
- accession: 0001706946-25-000149
- form_type: 8-K
- ticker: SPCE
- cik: 0001706946
- company_name: Virgin Galactic Holdings, Inc
- filed_at: 2025-11-13T23:59:59+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/1706946/000170694625000149/0001706946-25-000149-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706946/000170694625000149/spce-20251113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706946-25-000149
- JSON: https://secwatch.observer/filing/0001706946-25-000149.json
- Plain text: https://secwatch.observer/filing/0001706946-25-000149.txt

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