Virgin Galactic slides after Q2 results, delays spaceship debut
SPCE•Virgin Galactic falls after Q2 results and launch delay
Shares of aerospace and space travel firm Virgin Galactic fell 11.2% to $2.9 premarket after the company posted second-quarter revenue of $134,000, down from $406,000 a year earlier.
The company said it is postponing the launch of its first next-generation passenger spaceship into commercial service to February 2027 from Q4 2026.
Virgin Galactic expects to deliver positive quarterly cash flow within 2027.
Two out of eight analysts rate the stock "buy" or higher, four rate it "hold", and two rate it "sell"; the median price target is $3.03, according to data compiled by LSEG.
As of the last close, the stock was up 2.8% year to date.
