Shares of Virgin Galactic (SPCE -10.61%) blasted off following its reverse merger with a special purpose acquisition company (SPAC). It was able to start launching paying customers into space in 2023. But the hype around this space stock has clearly fizzled, given that it is down roughly 95% from its peak levels in 2021. Before you jump in, perhaps thinking the stock is a bargain, you need to understand these three facts.1. Virgin Galactic reached an important milestoneOn May 25, 2023, Virgin Galactic annou ...

The second test system, also located in Southern California, is known as an Iron Bird, and it will be verifying and cycle testing our mechanical systems and validating our designs. Each of these test systems, as well as a dedicated static test article, will enable us to verify the performance of the key elements of our Delta ships that are driving our improved turn times and will reduce the amount of time needed for final assembly, ground test, and flight test. Moving to Slide 10. We expect near-term uncert ...

Q3 2023 EARNINGS UPDATE 11.08.2023 FORWARD-LOOKING STATEMENTS This presentation references certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States (GAAP), including, total nonGAAP operating expenses, Adjusted EBITDA and free cash flow. The Company defines total non-GAAP operating expenses as total operating expenses other than stock-based compensation and depreciation and amortization. The Company defines Adjusted EBITDA as earnings b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38202 Virgin Galactic Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | | 85-3608069 | | --- | ...

Company Participants Doug Ahrens - Chief Financial Officer Turning to our agenda on Slide 3. I'll start today's call by highlighting the activity around our spaceflights during the quarter, and then discuss the progress we are making on our Delta Class ships, before turning the call over to Doug to share insights into our financial performance. Following our prepared remarks, we will open the call for your questions. As highlighted on Slide 6, our spaceflight system and flight profile provide researchers wi ...

DISCLOSURES This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this presentation other than statements of his ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38202 Virgin Galactic Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 85-3608069 (State or other juri ...

Operator The next question is from the line of Myles Walton with Wolfe Research. Myles Walton Kristine Liwag Michael Colglazier Thanks for the question, Kristine. And we're all really proud and excited for Unity. And of course, momentum is very high and continues to build in the company for these flights. So the glide flight was an important flight for us, but I call it -- it was a time where we were validating changes that had been made. So we were expecting the flight to perform just as we thought. It did ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38202 Virgin Galactic Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 85-3608069 (State or other jur ...

Greg Konrad - Jefferies Oliver Chen - Cowen Emily Dutchman - Wolfe Research Michael Leshock - KeyBanc Capital Markets Michael Ciarmoli - Truist Kristine Liwag - Morgan Stanley Austin Moeller - Canaccord Company Participants Operator I would now like to turn the call over to Eric Cerny, Vice President of Investor Relations. Thank you. Good afternoon, everyone. Welcome to Virgin GalacticÂ's fourth quarter and full year third quarter 2022 earnings conference call. On the call with me today are Michael Colglazi ...