Virgin Galactic Holdings, Inc.
4.0200-0.03 (-0.74%)
Oct 29, 4:00:02 PM EDT · NYSE · SPCE · USD
Key Stats
Market Cap
231.52MP/E (TTM)
-Basic EPS (TTM)
-8.20Dividend Yield
0%Recent Filings
8-K
Bylaws amended for voting
Virgin Galactic Holdings amended its bylaws effective August 28, 2025, shifting stockholder voting to a majority of votes cast for most matters, excluding abstentions. The changes bolster proxy solicitation rules, demand fuller disclosures for director nominations and proposals, and set federal courts as the exclusive forum for Securities Act claims. These tweaks streamline governance while tightening stockholder engagement. No financial impact disclosed.
8-K
Q2 revenue dips amid production focus
Virgin Galactic reported Q2 2025 results with revenue dropping to $0.4 million from $4.2 million a year ago, as it paused flights to prioritize Delta Class SpaceShip production. Operating expenses fell sharply to $70 million from $106 million, trimming net loss to $67 million, while cash reserves held firm at $508 million. SpaceShip assembly advances, targeting commercial service in fall 2026. Cash burn persists.
10-Q
Q2 FY2025 results
Virgin Galactic narrowed its Q2 operating loss to $70M from $102M a year earlier, while revenue dipped to $0.4M from $4.2M amid paused sales and a focus on Delta Class spaceship development. Operating expenses fell 34% year-over-year to $70M, driven by cuts in research and development (down 52% to $20M) and spaceline operations (down 48% to $14M), reflecting resource shifts to next-gen vehicles on track for 2026 commercial service. Net loss improved to $67M ($1.47 per diluted share) from $94M ($4.36), with the gap to operating loss mainly from $6.5M interest expense on $425M convertible notes due 2027 at 2.50%. Cash and equivalents stood at $164M, bolstered by $86M from at-the-market stock sales, though free cash flow turned negative at -$235M (derived) after $104M capex; a $8.5M Lavin class action settlement (mostly insured) hit SG&A. Ongoing legal proceedings pose resolution risks.
8-K
CEO contract extended five years
Virgin Galactic amended and restated CEO Michael Colglazier's employment agreement on July 29, 2025, extending his term to five years with automatic renewals. Base salary rises from $1.125M to $1.25M by April 2026, target bonus hits 150% of salary, and a $2.25M retention bonus pays out in stages—$1.25M now, $1M post-first revenue Delta flight—while annual long-term incentives target $6M from 2026. Severance doubles to 2x pay plus benefits, but early exit before 2027 triggers repayment unless post-change in control. Retention locks in leadership amid spaceflight delays.
8-K
Stockholders approve equity plans
Virgin Galactic stockholders approved the Third Amended and Restated 2019 Incentive Award Plan, boosting available shares to 7,670,437 and extending grants through June 5, 2035, while also greenlighting the new 2025 Employee Stock Purchase Plan with 2,500,000 shares for employee purchases. These moves, effective June 5, 2025, aim to attract and retain talent amid the company's space tourism ambitions. All eight director nominees won election. Yet dilution looms for existing shareholders.
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