Virgin Galactic Delays First Commercial Flight to 2027, Guides Wider Q3 Cash Burn
SPCE sits 54% above its 52-week low of $2.13 on light trading volume (0.4× avg).
Summary
Virgin Galactic reported Q2 2026 results with revenue of just $0.1M and a net loss of $56M, while free cash flow burned $91M. The company pushed its first commercial flight to February 2027 from Q4 2026, citing avionics and systems installation work. Q3 free cash flow guidance of $(95)M to $(100)M is worse than Q2's $(91)M, and Q4 is guided to $(80)M to $(90)M. The company raised $134M through its ATM program in Q2, adding 41M shares, and says the $750K spaceflight tranche was oversubscribed. Cash stands at $286M, but the delay and continued cash burn keep going-concern risk front and center. Watch the conference call today at 5:00 PM ET for details on the new pricing tranche and path to positive quarterly cash flow in 2027.
At the time of this announcement, SPCE was trading at $3.29 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $442.3M. The 52-week trading range was $2.13 to $8.90. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: BusinessWire.