Virgin Galactic's Q3 net loss narrows on lower expenses; revenue beats estimates
SPCE•Virgin Galactic reported Q3 revenue of $427,000, slightly above the $400,000 analyst estimate, and a net loss of $58.76 million. It expects its first commercial spaceflight in early Q2 2027 and plans to reach 150 flights per year by the end of 2028.
1. Quarterly results
Virgin Galactic's Q3 revenue was flat year over year at $427,000, beating the $400,000 consensus estimate. Its net loss narrowed to $58.76 million, primarily because of lower operating expenses, which totaled $59.42 million. Loss per share was $0.39.
2. Outlook
The company expects Q4 2026 free cash flow of negative $80 million to negative $90 million. It expects its first commercial spaceflight in early Q2 2027 and plans to increase capacity to 150 flights per year by the end of 2028. Q3 revenue came from access fees related to future astronauts and a future astronaut event.
