| Metric | Q2 2025 | Q2 2025 Estimate | Q2 2024 | Y/Y Change | | --- | --- | --- | --- | --- | | EPS (GAAP) | $(1.47) | $(2.34) | $(4.36) | 66.3 % | | Revenue (GAAP) | $0.4 million | $0.45 million | $4.2 million | (−90.5 %) | | Non-GAAP Total Operating Expenses | $58.5 million | | $94.5 million | (38.1 %) | | Adjusted EBITDA | $(52.2 million) | | $(79.0 million) | -33.9 % | | Free Cash Flow | $(113.8 million) | | $(113.5 million) | -0.3 % | About Virgin Galactic and Recent Strategic Focus Virgin Galactic ru ...

Financial Performance - Revenue was $0.5 million, a decrease compared to $2.0 million in the prior year period, due to the pause in commercial spaceflights[34] - Total operating expenses were $89 million, down from $113 million in the prior year period, reflecting a shift from R&D to capital investments[34] - Net loss was $84 million, an improvement from $102 million in the prior year period, primarily driven by lower operating expenses[34] - Adjusted EBITDA was $(72) million, compared to $(87) million in the prior year period[34] - Free cash flow was $(122) million, compared to $(126) million in the prior year period[34] - The company raised $31 million in gross proceeds through an at-the-market equity offering program[34] - Cash, cash equivalents, and marketable securities totaled $567 million, including $31 million of restricted cash[39, 38] Future Outlook - Q2 2025 free cash flow is expected to be in the range of $(105) million to $(115) million[35] - Upcoming key milestones include first glide test flight in Spring 2026, first research spaceflight in Summer 2026, and first private astronaut flight in Fall 2026[40] Non-GAAP Reconciliations - Non-GAAP total operating expenses were $79.917 million, compared to $101.200 million in the prior year period[42]