Virgin Galactic(US:SPCE)2025-05-15 22:09Financial 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]