NYSE : SPCE

Virgin Galactic Holdings, Inc. — Financial statements

Industrials · Aerospace & Defense · United States

Last price 2.47 USD (Nov 2, 2026, 4:00 PM EST) · Market cap 374.44M

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Financial statements

Virgin Galactic Holdings, Inc. (SPCE) reported revenue of 1.04M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue1.04M1.54M7.04M6.80M2.31M3.29M
Cost of Revenue95.56M72.77M90.02M50.54M1.91M272.00K
Gross Profit-94.52M-71.22M-82.99M-43.74M406.00K3.02M
Selling, General & Admin111.77M117.17M125.50M174.86M175.12M166.81M
Research & Development38.09M80.47M152.68M295.14M314.17M144.22M
Operating Expenses165.85M214.12M293.64M483.37M500.39M322.56M
Operating Income-260.37M-285.34M-376.63M-527.11M-499.98M-319.54M
Interest Expense-10.12M-12.78M-12.93M-12.87M-12.13M-25.00K
Interest & Investment Income13.89M21.84M42.35M42.23M12.50M1.21M
Other Non Operating Income (Expenses)212.00K226.00K538.00K263.00K58.00K-34.47M
EBT Excluding Unusual Items-256.38M-276.06M-346.67M-497.49M-499.55M-352.82M
Merger & Restructuring Charges-4.40M
Legal Settlements2.90M
Other Unusual Items5.84M-2.80M
Pretax Income-247.64M-278.86M-346.67M-501.88M-499.55M-352.82M
Income Tax Expense101.00K52.00K74.00K453.00K598.00K79.00K
Net Income-247.74M-278.91M-346.74M-502.34M-500.15M-352.90M
Net Income to Common-247.74M-278.91M-346.74M-502.34M-500.15M-352.90M
Shares Outstanding (Basic)78.56M51.24M24.95M16.86M13.20M12.38M
Shares Outstanding (Diluted)78.56M51.24M24.95M16.86M13.20M12.38M
EPS (Basic)-3.15-5.44-13.89-29.79-37.90-28.50
EPS (Diluted)-3.15-5.44-13.89-29.79-37.90-28.50
Free Cash Flow-386.46M-438.19M-474.56M-492.50M-396.73M-235.40M
Free Cash Flow Per Share-4.92-8.55-19.02-29.21-30.06-19.01
Gross Margin17.56%91.74%
Operating Margin-25,083.91%-18,480.76%-5,352.89%-7,751.63%-21,625.61%-9,706.41%
Profit Margin-23,867.44%-18,063.92%-4,928.08%-7,387.31%-21,632.87%-10,719.90%
Free Cash Flow Margin-37,231.31%-28,379.99%-6,744.71%-7,242.68%-17,159.60%-7,150.61%
EBITDA-244.38M-268.86M-361.16M-513.74M-488.89M-308.02M
D&A For EBITDA15.99M16.48M15.47M13.37M11.10M11.52M
EBIT-260.37M-285.34M-376.63M-527.11M-499.98M-319.54M

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents187.34M144.73M178.60M216.80M302.29M524.48M
Short-Term Investments67.71M162.31M384.62M657.24M606.72M79.42M
Cash & Short-Term Investments255.05M307.04M563.23M874.04M909.01M603.90M
Other Receivables500.00K2.00M4.20M4.60M4.50M2.30M
Receivables500.00K2.00M4.20M4.60M4.50M2.30M
Inventory24.04M29.67M
Prepaid Expenses23.73M17.18M
Restricted Cash31.07M30.99M32.28M36.79M40.34M25.55M
Other Current Assets25.96M32.87M28.23M35.40M
Total Current Assets312.58M372.90M627.94M950.83M1.00B678.59M
Property, Plant & Equipment499.30M425.61M267.15M152.33M102.12M82.98M
Long-Term Investments61.28M71.60M30.39M301.46M
Other Long-Term Assets4.39M4.67M4.86M4.76M5.81M5.79M
Total Assets816.28M803.18M961.23M1.18B1.14B1.07B
Accounts Payable20.76M15.16M3.70M32.41M16.33M9.24M
Accrued Expenses44.67M41.55M49.53M41.68M61.85M28.79M
Current Portion of Long-Term Debt29.98M47.83M
Current Portion of Leases8.76M8.71M5.60M4.35M3.02M2.20M
Current Unearned Revenue80.27M78.53M84.49M97.84M102.65M90.86M
Other Current Liabilities8.08M17.54M6.68M9.38M212.00K432.00K
Total Current Liabilities192.52M209.32M150.01M185.66M184.05M131.52M
Long-Term Debt189.06M276.36M420.12M417.89M415.72M
Long-Term Leases37.54M42.41M67.39M68.86M56.65M39.97M
Other Long-Term Liabilities1.05M1.12M1.42M1.63M3.30M3.08M
Total Liabilities420.16M529.22M638.95M674.04M659.72M174.57M
Common Stock14.00K7.00K3.00K2.00K28.00K26.00K
Additional Paid-In Capital3.27B3.03B2.79B2.63B2.11B2.02B
Retained Earnings-2.87B-2.75B-2.47B-2.13B-1.62B-1.12B
Comprehensive Income & Other56.00K132.00K278.00K371.00K-7.33M-1.87M
Shareholders' Equity396.11M273.96M322.28M505.48M480.22M894.26M
Total Liabilities & Equity816.28M803.18M961.23M1.18B1.14B1.07B
Total Debt265.33M375.30M493.12M491.10M475.38M42.17M
Net Cash (Debt)-10.28M-68.26M131.39M454.53M464.01M863.19M
Net Cash Per Share-0.13-1.335.2626.9535.1669.72
Filing Date Shares Outstanding151.60M81.41M35.53M20.00M14.01M12.91M
Total Common Shares Outstanding141.28M73.33M33.00M20.00M13.77M12.91M
Working Capital120.06M163.57M477.93M765.17M817.56M547.07M
Book Value Per Share2.803.749.7725.2834.8769.28
Tangible Book Value396.11M273.96M322.28M505.48M480.22M894.26M
Tangible Book Value Per Share2.803.749.7725.2834.8769.28
Land1.30M1.30M1.30M1.30M1.30M
Buildings10.11M10.11M10.11M9.09M9.12M9.12M
Machinery55.65M49.24M47.12M44.06M37.42M37.20M
Construction In Progress376.28M302.73M117.81M34.58M4.34M2.90M
Leasehold Improvements78.12M77.85M77.59M37.14M31.09M29.16M

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-247.74M-278.91M-346.74M-502.34M-500.15M-352.90M
Depreciation & Amortization15.99M16.48M15.47M13.37M11.10M11.52M
Other Amortization2.07M2.29M2.23M2.17M2.00M
Loss (Gain) From Sale of Investments-2.87M-6.07M-16.64M-15.09M
Stock-Based Compensation20.04M18.70M29.75M44.26M45.71M61.80M
Other Operating Activities-8.63M-4.00K1.46M1.51M10.80M34.66M
Change in Inventory5.62M815.00K
Change in Accounts Payable10.11M11.22M-29.20M8.62M35.15M7.93M
Change in Unearned Revenue-601.00K-5.96M-13.35M-4.81M11.78M7.65M
Change in Other Net Operating Assets-804.00K2.10M4.31M4.11M-2.25M-2.25M
Operating Cash Flow-212.45M-240.14M-352.70M-448.19M-380.24M-230.76M
Capital Expenditures-174.01M-198.04M-121.86M-44.31M-16.49M-4.63M
Investment in Securities249.19M288.88M296.90M-71.96M-269.68M-382.88M
Other Investing Activities10.00K8.00K610.00K
Investing Cash Flow75.19M90.84M175.66M-116.27M-286.17M-387.52M
Long-Term Debt Issued212.50M425.00M
Long-Term Debt Repaid-320.81M-193.00K-235.00K-544.00K-450.00K
Net Debt Issued (Repaid)-116.54M-108.32M-193.00K-235.00K424.46M-450.00K
Issuance of Common Stock226.87M167.70M137.80M484.14M103.38M519.98M
Repurchase of Common Stock-1.87M-183.00K-1.21M-3.24M-3.98M-23.40M
Other Financing Activities53.48M54.92M-2.06M-5.24M-64.84M-6.77M
Financing Cash Flow161.94M114.13M134.34M475.43M459.00M489.36M
Net Cash Flow24.68M-35.17M-42.71M-89.03M-207.40M-128.93M
Free Cash Flow-386.46M-438.19M-474.56M-492.50M-396.73M-235.40M
Free Cash Flow Margin-37,231.31%-28,379.99%-6,744.71%-7,242.68%-17,159.60%-7,150.61%
Free Cash Flow Per Share-4.92-8.55-19.02-29.21-30.06-19.01
Levered Free Cash Flow-295.97M-339.66M-342.70M-305.91M-243.96M-126.73M
Unlevered Free Cash Flow-291.71M-333.97M-336.85M-300.03M-238.37M-126.72M
Cash Interest Paid11.57M8.69M10.62M15.94M5.67M
Cash Income Tax Paid109.00K300.00K658.00K80.00K109.00K
Change in Working Capital8.70M7.37M-38.24M7.93M50.31M14.15M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization374.44M202.87M169.79M979.30M955.47M3.45B
Enterprise Value384.72M287.47M-48.81M420.80M361.23M2.49B
Last Close Price2.583.215.8849.0069.60267.60
PS Ratio374.77131.3924.13144.01413.261,048.66
PB Ratio0.920.740.531.941.993.86
P/TBV Ratio0.980.740.531.941.993.86
EV/Sales Ratio384.67186.1861.88156.24756.24
Debt / Equity Ratio0.671.371.530.970.990.05
Net Debt / Equity Ratio0.030.25-0.41-0.90-0.97-0.96
Net Debt / EBITDA Ratio-0.04-0.250.360.890.952.80
Net Debt / FCF Ratio-0.03-0.160.280.921.173.67
Asset Turnover0.000.000.010.010.000.00
Inventory Turnover0.070.01
Quick Ratio1.331.483.784.734.964.61
Current Ratio1.621.784.195.125.445.16
Return on Equity (ROE)-75.13%-93.55%-83.78%-101.92%-72.78%-49.66%
Return on Assets (ROA)-18.98%-20.21%-21.99%-28.41%-28.29%-21.33%
Return on Capital Employed (ROCE)-41.70%-48.00%-46.40%-53.00%-52.30%-34.10%
Earnings Yield-127.67%-137.48%-204.22%-51.30%-52.35%-10.22%
FCF Yield-99.34%-215.99%-279.50%-50.29%-41.52%-6.82%
Buyback Yield / Dilution-125.34%-105.34%-47.99%-27.78%-6.59%-13.01%