Virgin Galactic Q4 Earnings Highlights: Revenue Miss, EPS Beat, Q1 Guidance, Spaceship Update And More
Portfolio Pulse from Chris Katje
Virgin Galactic Holdings (NYSE:SPCE) reported its Q4 financial results, revealing a revenue miss and an EPS beat. The company announced a Q4 net loss of $104 million, an improvement from the previous year. Full-year revenue for 2023 was $7 million, driven by commercial spaceflights and membership fees. Virgin Galactic ended Q4 with $982 million in cash and expects Q1 revenue of around $2 million with a free cash flow loss between $125 million and $135 million. The company's Galactic 07 spaceflight is scheduled for Q2 2023, and its spaceship factory in Arizona is set to open in mid-2024, with Delta Class spaceship production on track for 2026.
February 27, 2024 | 9:32 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Virgin Galactic reported a Q4 revenue miss and an EPS beat, with a net loss improvement year-over-year. The company anticipates Q1 revenue of $2 million and a significant free cash flow loss. It remains on track with its spaceflight and spaceship production plans.
The mixed Q4 results with a revenue miss but an EPS beat and the forward-looking statements about revenue and cash flow might lead to cautious optimism among investors. The company's progress on its spaceflight schedule and spaceship production plans could be seen as positive signs for its long-term growth, but the significant expected cash flow loss in Q1 could temper short-term expectations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100