{"schema_version":"secwatch.filing_event.v1","accession":"0001706946-26-000017","form_type":"8-K","ticker":"SPCE","cik":"0001706946","company_name":"Virgin Galactic Holdings, Inc","filed_at":"2026-03-30T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.957346+00:00","generated_at":"2026-05-15T08:24:23.722343+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Virgin Galactic Q4 net loss $63M; opens spaceflight sales at $750K, first SpaceShip to ground test in April","bullets":["Q4 2025 net loss $63M vs $76M YoY; adjusted EBITDA $(49)M; free cash flow $(95)M.","Revenue $0.3M in Q4 ($2M full year); cash and marketable securities $338M at year-end.","Commercial spaceflight sales opened at $750K per expedition; first new SpaceShip to begin ground testing in April 2026.","First new SpaceShip commercial ops on track for Q4 2026; second SpaceShip expected late Q4 2026 to early Q1 2027.","Debt obligations reduced by $142M through capital realignment; ATM issuance generated $122M gross in 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001706946-26-000017","json":"https://secwatch.observer/filing/0001706946-26-000017.json","markdown":"https://secwatch.observer/filing/0001706946-26-000017.md","text":"https://secwatch.observer/filing/0001706946-26-000017.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1706946/000170694626000017/0001706946-26-000017-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1706946/000170694626000017/spce-20260330.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T08:24:23.722343+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2d5c232e78bb224e141365fc5c96c733dc4b52a7","claim":"Virgin Galactic Holdings, Inc reported the fourth quarter and full year ended December 31, 2025 results: revenue Revenue of $0.3 million, net income Net loss of $63 million.","evidence_excerpt":"Quarter 2025 Financial Highlights • Cash position remains strong, with cash, cash equivalents and marketable securities of $338 million as of December 31, 2025. • Revenue of $0.3 million, compared to $0.4 million in the fourth quarter of 2024, attributable to access fees related to future astronauts. • GAAP total operating expenses of $61 million, compared to $82","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1706946/000170694626000017/0001706946-26-000017-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter and full year ended December 31, 2025"},{"label":"Revenue","value":"Revenue of $0.3 million"},{"label":"Net income","value":"Net loss of $63 million"},{"label":"Result","value":"reported results"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}