Virgin Galactic Holdings (SPCE)
NYSE:SPCE
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-2.38Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed strong operational and programmatic progress — completed major assembly milestones, a clear flight-test and commercial timeline, resumed sales at premium pricing, upgrades to launch-vehicle capacity, and successful capital realignment that meaningfully reduced near-term contractual debt. Financially, the company showed improving operating metrics (lower OpEx, smaller net losses and improved adjusted EBITDA) and substantial investments in manufacturing capacity. However, significant near-term liquidity and free-cash-flow challenges remain (FY2025 FCF -$438M; 2026 FCF guidance -$90M to -$95M), a going concern disclosure signals risk under GAAP assumptions, and revenue is currently minimal and timing-dependent on successful Q4 2026 commercial start. The company is relying on remaining ATM capacity, warrant structures, and expected customer payments at commercial launch to bridge the gap. Overall, operational momentum is strong but balanced against meaningful financial and execution risks.Company Guidance
Major Manufacturing Milestones Achieved
Structural assembly of all three major ship components (wing, fuselage, feather) is complete or near completion; joining of subassemblies underway with weight-on-wheels expected in weeks and ground testing (PAT/IVGT) starting in April 2026. Final assembly time materially shortened, enabling faster repeatable production.
Clear Flight Test and Commercial Timeline
Flight-test program on track: glide and rocket-powered tests planned in Q3–Q4 2026, with first commercial spaceflight targeted for Q4 2026. Ramp plan: ~4 flights/month initially, then ~8/month, with a goal of 10+ flights/month in 2027 (subject to vehicle and operational readiness).
Sales Reopened with Premium Pricing
Opened a limited tranche of 50 spaceflight expeditions priced at $750,000 per seat; website and sales infrastructure relaunched. Founding astronaut community exceeds ~650 members; additional limited premium opportunities for being among first 1,000 humans in space priced substantially higher.
Launch Vehicle and Capacity Improvements
Mothership 'Eve' received upgrades targeting launch-support capacity of up to 12–15 spaceflights/month (providing buffer for weather-related delays). LVX launch vehicle program progressing, targeting deployment with additional spaceships in 2030 to expand capacity beyond Eve.
Capital Realignment Reduced Near-Term Debt Burden
December exchange addressed $355M of the $425M 2027 convertibles, extending maturity to December 2028, and eliminated $142M of contractual debt payments. Warrants issued with exercise price >2x recent stock price, offering upside-aligned potential and cash inflows on exercise.
Reduced Operating Costs and Improving Profitability Trends
Q4 operating expenses down 26% YoY to $61M (from $82M); Q4 net loss improved 18% YoY to $63M (from $76M); adjusted EBITDA improved 23% YoY to -$49M (from -$63M). FY2025 operating expenses down 25% YoY to $287M; net loss improved 20% YoY to $279M; adjusted EBITDA improved 22% YoY to -$226M.
Balance Sheet and CapEx Investments Supporting Scale
Year-end cash, cash equivalents, and marketable securities of $338M; $122M gross proceeds raised via ATM in 2025. Capital expenditures $198M in 2025 (up from $122M), PP&E increased 86% YoY to $389M, reflecting investments in production capacity and tooling expected to enable scalable manufacturing.
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
SPCE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 30, 2026 | $2.17 | $2.43 | +11.98% |
Nov 13, 2025 | $3.31 | $3.67 | +10.88% |
Aug 06, 2025 | $3.78 | $3.42 | -9.52% |
May 15, 2025 | $3.35 | $4.80 | +43.28% |
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.
FAQ
When does Virgin Galactic Holdings (SPCE) report earnings?
Virgin Galactic Holdings (SPCE) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Virgin Galactic Holdings (SPCE) earnings time?
Virgin Galactic Holdings (SPCE) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is SPCE EPS forecast?
Currently, no data Available
