Virgin Galactic Q2 2026 net loss $56M; first commercial flight delayed to Feb 2027

Virgin Galactic Holdings, Inc

Revenue $0.1M vs $0.4M YoY; net loss $56M vs $67M; adjusted EBITDA -$52M.
Cash and marketable securities $286M; free cash flow -$91M vs -$114M.
Spaceflight expeditions at $750k oversubscribed; adds >$50M to future revenue; new tranche at higher price fall.
First commercial spaceflight moved to Feb 2027 (from Q4 2026); flight test starts Oct 2026 with captive carry.
ATM raised $134M from 41M shares; reduced notes due Feb 2027 to $17.9M; no mandatory payments on Dec 2028 notes until Mar 2028.

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