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Virgin Galactic Holdings (SPCE)
NYSE:SPCE
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-2.68Last Year’s EPS
-5Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: -15.36%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant progress in Virgin Galactic's transition from an R&D company to one building operational assets, with advancements in SpaceShip design and financial management. However, the company continues to face challenges with limited revenue and ongoing cash burn until commercial operations begin in 2026.Company Guidance
During the Virgin Galactic fourth quarter and full year 2024 earnings call, CEO Michael Colglazier provided guidance indicating that 2025 will be a year of momentum for the company, as they transition from an R&D-focused organization to a manufacturing entity. The company is on track with its timeline for building new SpaceShips, aiming for the first commercial research spaceflight in the summer of 2026 and the first private astronaut spaceflight in the fall of 2026. The new SpaceShips are designed to fly twice a week, with a lifespan of over 500 spaceflights, marking a significant step forward in commercial space travel. Financially, Virgin Galactic reported a 29% reduction in operating expenses for 2024, with total expenses at $384 million, down from $538 million in the prior year. The company ended the year with $657 million in cash and marketable securities and expects cash spending to decelerate in 2025 as they complete investments in tooling and manufacturing capacity. The guidance emphasized the goal of achieving EBITDA-positive operations by introducing two new SpaceShips, projecting annual revenues of approximately $450 million with an 80% contribution margin.Transition to Asset-Building Phase
2024 marked an inflection point for Virgin Galactic, shifting from an R&D-focused company to one that builds real assets. The company has begun the fabrication of tools and parts for new SpaceShips, with the first assembly set to start next month at the SpaceShip Factory in Phoenix.
SpaceShip and Rocket System Advancements
New SpaceShips are designed to fly twice a week with a lifespan of over 500 spaceflights. The world's most powerful hybrid rocket system, part of these SpaceShips, is recognized for its safety features and quick refueling capabilities.
Operational and Financial Improvements
Total operating expenses for Q4 2024 were $82 million, down from $117 million in the prior year, reflecting a shift from R&D to capital investments. Adjusted EBITDA improved to negative $63 million from negative $84 million year-over-year.
Strong Financial Position
Virgin Galactic ended 2024 with $657 million in cash, cash equivalents, and marketable securities. The company generated $138 million in gross proceeds through an equity offering program.
Revenue Growth and Ticket Price Increase
Revenue for 2024 was $7 million, driven by two commercial spaceflights. Average ticket prices for the last spaceflight rose to $800,000 per seat from just over $300,000 in the prior year.
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SPCE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SPCE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 26, 2025 | $3.84 | $3.83 | -0.26% |
| Nov 06, 2024 | $7.12 | $6.28 | -11.80% |
| Aug 07, 2024 | $5.27 | $6.01 | +14.04% |
| May 07, 2024 | $20.20 | $19.90 | -1.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Virgin Galactic Holdings (SPCE) report earnings?
Virgin Galactic Holdings (SPCE) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is Virgin Galactic Holdings (SPCE) earnings time?
Virgin Galactic Holdings (SPCE) earnings time is at May 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SPCE EPS forecast?
SPCE EPS forecast for the fiscal quarter 2025 (Q1) is -2.68.
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