SPCE Earnings: Virgin Galactic Stock Gains after Q3 Beat

Virgin Galactic (SPCE) stock gained 4% in the after-hours trading session after the aerospace company reported its third-quarter 2025 results. Q3 revenue declined 9.2% to $365,000. However, it surpassed analyst expectations of $315,000. Similarly, the company posted a net loss of $1.09 per share, which was narrower than the consensus estimate of a loss of $1.48. Further, the loss compared favorably with the previous year’s $2.66 per share.

The company’s performance shows steady progress in its commercial spaceflight plans and tighter cost control. While it remains a pre-revenue company, operational updates and improved cash burn metrics offer investors some visibility toward its planned Q4 2026 launch.

Commercial Launch Still on Track

CEO Michael Colglazier reaffirmed that Virgin Galactic’s first commercial spaceflight remains on track for Q4 2026. The company’s production checklist is narrowing, and teams are actively preparing for operational ramp-up in 2027.

Virgin expects most current customers to fly in 2027, supported by faster turnaround times and increased flight-rate capability from its first two SpaceShips.

Virgin Galactic’s Outlook

For Q4 2025, Virgin projects free cash flow between $(90) million and $(100) million. This reflects an improvement from $(108) million to $(118) million in the third quarter of 2025.

While still negative, this range reflects a sequential improvement and aligns with the company’s strategy to invest in vehicle production and infrastructure ahead of commercial launch.

Is SPCE Stock a Good Buy?

Turning to Wall Street, analysts have a Moderate Sell consensus rating on SPCE stock based on two Holds and one Sell assigned in the past three months. Further, the average SPCE price target of $3.28 per share implies 0.91% downside risk.

However, it’s worth noting that estimates will likely change following today’s earnings report.

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