Virgin Galactic Holdings, Inc

Listed Company

SPCECIK 0001706946NYSENon-AcceleratedSmaller ReportingTransportation ServicesFY ends Dec 31

Period

FY 2025

Revenue

$1.54M

Net Income

$-278.91M

Total Assets

$803.18M

Equity

$273.96M

Shares Out

81.41M

Op. Cash Flow

$-240.14M

Business

Virgin Galactic Holdings, Inc is an aerospace company that provides human-first suborbital spaceflight services for private individuals, researchers and government agencies. It offers spaceflight experiences, researcher payload flights, astronaut training, engineering services and manufacturing of reusable spaceships, hybrid rocket motors and carrier motherships. Its business includes design, development, manufacturing, flight testing, spaceflight operations, post-flight maintenance and occasional third-party engineering contracts. Virgin Galactic operates from a dedicated commercial spaceport and conducts sales through consultative channels, research partnerships and commercial and government missions worldwide.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2	7	7	2	3
Spaceline operations	73	90	51	2	272,000
Research and development	80	153	295	314	144
Selling, general and administrative	117	125	175	175	167
Depreciation and amortization	16	15	13	11	12
Total operating expenses	287	384	538	502	323
Operating loss	−285	−377	−532	−500	−320
Interest income	22	42	42	13	1
Interest expense	−13	−13	−13	—	—
Debt restructuring expense	−3	0	—	—	—
Other income, net	226,000	538,000	263,000	58,000	182,000
Loss before income taxes	−279	−347	−502	−500	−353
Income tax expense	52,000	74,000	453,000	598,000	79,000
Net loss	−279	−347	−502	−500	−353
Foreign currency translation adjustment	6,000	0	81,000	−146,000	129,000
Unrealized loss on marketable securities	−152,000	−93,000	8	−5	−2
Total comprehensive loss	−279	−347	−495	−506	−355
Basic (in dollars per share)	−5.44	−13.89	−29.79	−1.89	−1.43
Diluted (in dollars per share)	−5.44	−13.89	−29.79	−1.89	−1.43
Basic (in shares)	51	25	17	264	248
Diluted (in shares)	51	25	17	264	248

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	145	179	217	302	524
Restricted cash	31	32	37	40	26
Marketable securities, short-term	162	385	657	607	79
Other current assets	35	32	40	—	—
Total current assets	373	628	951	1,002	679
Marketable securities, long-term	0	61	72	30	301
Property, plant and equipment, net	389	209	94	54	47
Other non-current assets	42	63	63	54	41
Total assets	803	961	1,180	1,140	1,069
Accounts payable	15	4	32	16	9
Current portion of long-term debt	48	0	—	—	—
Customer deposits	79	84	98	103	91
Other current liabilities	68	62	55	3	—
Total current liabilities	209	150	186	184	132
Long-term debt	276	420	—	—	—
Other long-term liabilities	44	69	70	60	43
Total liabilities	529	639	674	660	175
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $0.0001 par value; 700,000,000 shares authorized; 73,326,504 and 32,995,822 shares issued and outstanding as of December 31, 2025 and 2024, respectively	7,000	3,000	2,000	28,000	26,000
Additional paid-in capital	3,026	2,795	2,631	2,111	2,020
Accumulated deficit	−2,752	−2,473	−2,126	−1,624	−1,124
Accumulated other comprehensive income	132,000	278,000	371,000	−7	−2
Total stockholders equity	274	322	505	480	894
Total liabilities and stockholders equity	803	961	1,180	1,140	1,069

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	19	30	44	46	62
Amortization of debt issuance costs	2	2	2	2	0
Accretion of marketable securities purchased at a discount	−6	−17	−15	—	—
Other non-cash items	−4,000	1	2	11	11,000
Other current and non-current assets	−4	11	17	−3	−3
Accounts payable	11	−29	9	—	—
Customer deposits	−6	−13	−5	12	8
Other current and non-current liabilities	6	−6	−12	556,000	1
Net cash used in operating activities	−240	−353	−448	−380	−231
Capital expenditures	−198	−122	−44	−16	−5
Purchases of marketable securities	−313	−543	−1,010	−705	−383
Proceeds from maturities and calls of marketable securities	602	840	938	435	0
Other investing activities	8,000	610,000	0	—	—
Net cash provided by investing activities	91	176	−116	−286	−388
Proceeds from issuance of long-term debt	212	0	—	—	—
Repurchase of convertible debt	−321	0	—	—	—
Debt issuance costs	−2	0	0	−11	0
Payments of finance lease obligations	−211,000	−193,000	−235,000	−234,000	−140,000
Proceeds from issuance of Purchase Warrants	63	0	—	—	—
Proceeds from issuance of common stock pursuant to ESPP	473,000	0	—	—	—
Withholding taxes paid on behalf of employees on net settled stock-based awards	−183,000	−1	−3	−4	−23
Other financing activities	0	−2,000	0	—	—
Net cash provided by financing activities	114	134	475	459	489
Net decrease in cash, cash equivalents and restricted cash	−35	−43	−89	−207	−129

Filings

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